19-June-2019: The global optical coatings market size is
expected to reach USD 25.64 billion by 2025, according to a new report by Grand
View Research, Inc. It is projected to register a CAGR of 9.0% during the
forecast period. Growing solar industry and investments in aerospace and
defense industry are the key market drivers.
Wide usage in scientific and
medical devices for screen displays is anticipated to augment the demand over
the forecast period. Medical equipment industry was valued at nearly USD 6.7
billion in 2016 and is expected to reach around USD 8.6 billion by 2020.
Therefore, rising demand from solar, electronics, and medical sector is
expected to drive the optical coatings market over the forecast period.
Rapid growth of consumer
electronics sector in Canada, China, and India is expected to propel the demand
for optical coatings over the forecast period. Owing to the presence of
numerous large and small producers, Asia Pacific is one of the largest markets
for consumer electronics. The fast track task force in India, which is a body
of Ministry of Electronics and IT, has planned to achieve about 500 million
mobile phone production by 2019 worth about USD 46 billion. Moreover, shifting
consumer preference toward smart technologies and smart touch displays is
expected to propel the growth over the forecast period.
Extensive R&D and
development of material and fabrication technologies are expected to have a
positive impact on the industry. Growing demand for optical coatings for
genetic analysis, biomedical, micro-optical systems, and sensors is expected to
further drive the market.
Rising prominence of optical
systems in defense sector is also anticipated to be a key driver for the growth
in the forthcoming years. Increasing military spending by countries, such as
U.S., India, and China is expected to bolster the product demand. For instance,
U.S. allocated military budget worth USD 824.6 billion from October 2017 to
September 2018. Therefore, steady growth in the military spending is likely to
positively influence the optical coating market.
In depth research report on Optical Coatings Market
Further
key findings from the report suggest:
· In
terms of revenue, anti-reflective coatings product is anticipated to witness a
CAGR of 8.6% from 2017 to 2025
· In
terms of revenue, reflective coatings segment is projected to expand at a CAGR
of 9.9% over the forecast period
· Consumer
electronics application led the global optical coatings market with a global
market share of 31.5% in 2017
· Europe
is anticipated to reach 659.9 kilotons by 2025
· In
terms of revenue, Central and South America is projected to witness a CAGR of
8.6% over the forecast period. Rising construction activities owing to the
recovery from economic recession are expected to propel construction industry
in the region
· Some of
the key market players are Alluxa; Cascade Optical Corporation; Chroma
Technology Corporation.; Inrad Optics; Optical Coatings Japan; PPG Industries,
Inc.; VIAVI Solutions Inc. ; Schott AG; and Abrisa Technologies
Grand View Research has
segmented the global optical coatings market report on the basis of product,
application, and region:
Optical
Coatings Product Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
· Anti-reflective
· Reflective
· Filter
· Conductive
· Electrochromic
· Others
Optical
Coatings Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
· Consumer
Electronics
· Solar
· Medical
· Architecture
· Aerospace
& Defense
· Automotive
· Telecommunication
· Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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