Transparency Market Research has published a new report on the optical coatings market, which analyzes the global as well as regional level status of global markets for optical coatings. The report, titled “Optical Coatings Market – Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 – 2019,” states that the global market for optical coatings will grow to US$10.39 billion by 2019 from a value of US$6.47 billion in 2012. During this interim, the market is expected to register a CAGR of 7.2% between 2013 and 2019.
Under the product segment, the global optical coatings market can be further categorized as transparent electrodes, anti-reflective coatings, reflective coatings, and filter coatings. The anti-reflective coatings segment accounted for 30% of the total market in 2012. This segment gains maximum attention and demand due to the increasing need for energy-efficient infrastructure, growth in the semiconductor industry, demand for energy-efficient homes, and cool rooftops. The reflective coatings and transparent electrodes segments are also expected to catch up in terms of high growth and revenue in the next four years.
The major driving forces of the optical coatings market include rapid advancements in the field of computer technology, variety of industries emerging in the development of optical coatings, and advanced software applications. Several government policies and incentives have also significantly increased the use of renewable sources of energy. Such factors have boosted the demand for solar applications within the optical coatings market.
In the application analysis segment, the major applications of optical coatings are solar, infrastructure, electronics, defense/security, and others. The report forecasts that an increase in smartphones and applications in the field of solar power generation is the chief driving force behind the global optical coatings market. For years, infrastructure has remained as the largest application segment for optical coatings and its growth and dominance is expected to continue in the near future as well.
PPG industries, 3M precision optics, Newport Corporation, and Optical Coatings Japan are mong the key players of this market. The growth and demand for optical coatings market has been prominent across three major geographies: North America, Asia Pacific, and Europe that collectively account for over 90% of the total demand for optical coatings.
Although North America held more than 30% of the overall global demand for optical coatings in 2012, the Asia-Pacific region is expected to be the fastest-growing geographical segment in the coming years. The most significant factor driving the demand in Asia Pacific is high GDP growth rate leading to a rise in the disposable income of people. Countries such as India and China are likely to witness rapid industrialization and thus the demand for metallic and dielectric materials will grow across various end-user applications.