TAGS: Industrial Coatings
Optical Coatings Market size is estimated at USD 12.6 billion in 2021 and is projected to reach USD 19.0 billion by 2026, at a CAGR of 8.5%. The optical coatings market is witnessing high growth owing to increasing demand for renewable energy applications and emerging demand for optical coatings from APAC.
Vacuum Deposition - Largest Technology Segment
The optical coatings market is segmented based on technology into vacuum deposition, E-beam evaporation, sputtering process, and ion-assisted deposition (IAD). Vacuum Deposition holds the major market share of the overall optical coatings market owing to its ability to cure at room temperatures, improved reliability, and increased thermal and mechanical strength of electronic devices.
AR Coatings - Largest Type Segment
The optical coatings market is segmented on the basis of type into AR (anti-reflective) coatings, high reflective coatings, transparent conductive coatings, filter coatings, beamsplitter coatings, EC coatings, and others.
AR coatings type segment holds major market share of the overall optical coatings market owing to its ability to provide high-quality coatings with high transmission power and low reflection power on components such as lenses, mirrors, and display screens used in various industrial and consumer applications. These factors are fueling the growth of AR coatings in the global optical coatings market.
Electronics & Semiconductor - Largest End-Use Industry Segment
The optical coatings market is segmented on the basis of end-use industry into electronics & semiconductor, military & defense, transportation, telecom/optical communication, infrastructure, solar power, medical, and others.
Electronics & semiconductor end-use industry segment holds a major market share of the overall optical coatings market owing to increasing demand for highly resistant and high dielectric strength coating layers in photovoltaic (PV) cells, electronics assemblies, ICs, and other optoelectronic devices. These factors are fueling the growth of the optical coatings market in the electronics & semiconductor industry.
North America - Largest Market for Optical Coatings Market
North America is the largest market for optical coatings during the forecast period. This growth can be attributed to the growing demand from the electronics & semiconductor industry and the increasing contribution of government and major players for commercializing optical coatings in the region.
Moreover, stringent environmental and government regulations, such as Architectural and Industrial Maintenance (AIM) Coatings for Volatile Organic Compounds (VOCs) content limits and the United States Munitions List (USML) that regulate optical technology along with coating exports under the International Traffic in Arms Regulations (ITAR) fuel the market growth for optical coatings in the region.
Source: MarketsandMarkets™