24th January 2019

OPTICAL COATINGS MARKET SET TO SOAR

The global market for optical coatings is expected to reach US $19.7-billion by 2022, according to a report by US consultancy Grand View Research Inc. Smartphones, tablets and high-resolution displays are creating the demand that is expected to drive growth over the forecast period.

Optical coatings are used on glass surfaces used in a host of applications. Growing interest in energy-efficient buildings has also led to increased use of optical coatings in architectural glass. In the LEED standards for green buildings, optical coatings play an important role in reducing energy consumption through thermal insulation. Favorable regulatory policies around the globe are expected to propel product demand in architectural glass applications over the forecast period.

The report suggests that volumes in the anti-reflective segment will grow at a compound annual growth rate of over 10 percent to 2022. Declining prices for smartphones and tablets, coupled with the emergence of new technologies offering improved user interfaces. is expected to drive demand. Anti-reflective coatings are also widely used in the optics and laser industries, which are expected to further propel growth over the next seven years.

Solar application is expected to witness significant development owing to increasing investment to set up power plants, particularly in emerging economies across the globe. In addition, government policies including incentives and subsidies to promote development of alternate energy sources are expected to increase product consumption over the forecast period.

North America will account for over 30 percent of the global market in terms of revenue. Consumer demand for emerging technologies is expected to propel market growth. Continuous innovation and rising spending in the military and defense industry for applications including night vision cameras, beam attenuators and range finding is also expected to augment growth.

Europe is expected to witness significant growth owing to rising use of optical coatings in automobile displays, car windows and headlamps. In addition, an increasing middle class population coupled with an increased need for affordable cars is expected to propel the market over the forecast period.

www.grandviewresearch.com/industry-analysis/optical-coatings-industry