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Press Release: Anti-Reflective Coatings Market To Surpass US$ 8.5 Million By 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Anti-reflective Coatings are optical thin film coatings that helps in the reduction of reflection properties and enhance transmission of the optical surface. Anti-reflective coatings are mainly used in the semiconductor, automotive, construction, airplane industries in order to protect the surface of the components.
The global anti-reflective coatings market is projected to surpass US$ 8.5 billion by the end of 2027, in terms of revenue, growing at CAGR of 8.2% during the forecast period (2020 to 2027).
Drivers
Growing demand for anti-reflective coatings for manufacturing of high transmitting lenses and glasses is expected to drive the market growth of anti-reflective coatings. Expanding eyewear market is also fueling the market growth of anti-reflective coatings. This is attributed to growing vision impairments along with the increasing geriatric population which is creating demand for eyewear products. Thus growing demand for eyewear products is expected to foster the market growth of anti-reflective coatings.
Rising installation of the solar panel around the globe due to increasing demand for a renewable source of energy is expected to augment the market growth of anti-reflective coatings. Rising need to reduce the reliance on fossil fuels coupled with the growing demand for energy is expected to spur the market growth. Anti-reflective coatings are widely applied on the surface of solar PV. Thus, rising adoption of solar PV is escalating the market growth of anti-reflective coatings.
Regionally, North America dominated the global anti-reflective coatings market in 2019, reporting 38% market share in terms of revenue, followed by Asia-pacific and Europe, respectively.
Figure 1. Global Anti-Reflective Coatings Market, Revenue Share (%), By Region, 2019
Market Restraints
Lack of awareness regarding the benefits of eyewear products with anti-reflective coatings is expected to hinder the market growth. Moreover, uncoated lenses are cheaper than anti-reflective coated lenses which are further expected to restrict the adoption of these lenses. Thus hindering the market growth of anti-reflective coating.
The high cost of production due to expensive application techniques is expected to restrict the market growth of anti-reflective coatings.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 4.5 Bn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 8.2% | 2027 Value Projection: | US$ 8.5 Bn |
| Geographies covered: |
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| Companies covered: |
Carl Zeiss AG, Essilor International S.A, Honeywell International Inc., Hoya Corporation, iCoat Company LLC, Janos Technology LLC, JDS Uniphase Corporation, Koninklijke DSM N.V, and Optical Coatings Japan |
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Market Opportunities
Increasing production of automobiles with an advanced system such as dashboards, GPS displays, and windshields is expected to provide lucrative growth opportunities for the market. Emerging applications of an anti-reflective coating such as laser and telescope are also expected to propel the market growth. They are widely used in telescopes to eradicate stray light and improve contrast levels of the image by reducing reflections.
Growing demand for anti-reflective coating from the healthcare industry is expected to offer potential market opportunities over the forecast period. Rising use of the anti-reflective coating in scientific and medical screen displays is expected to foster the market growth of anti-reflective coating. Growing demand for various consumer goods due to increasing disposable income and changing lifestyle of the consumer is further expected to foster the market growth of anti-reflective coating.
Figure 2. Global Anti-Reflective Coatings Market – Opportunity Analysis
Market Trends
Increasing adoption of advanced technology in the field of anti-reflective coatings is one of the current trends in the market growth. For instance, in May 2020, VSP Optics announced the launch of TechShield Anti-Reflective Coatings with ISO-certified anti-bacterial technology. The enhancements break new ground in the optical industry as the first-ever anti-reflective coatings for ophthalmic lenses in the United States that include anti-bacterial technology certified by the International Organization for Standardization (ISO).
The growing use of anti-reflective coatings across the aerospace industry is expected to be a major trend in the market. Increasing investment in the aerospace industry by the government for maintaining the aircraft component and to increase the shelf-life of the structure is expected to foster the market growth of anti-reflective coatings in the aerospace industry. This growth in the aerospace industry is also attributed to increasing tourism.
Figure 3. Global Anti-Reflective Coatings Market, Revenue Share (%), By Application, in 2019
On the basis of application, wood the global anti-reflective coatings market in 2019 with around 40% of market share in terms of revenue, followed by gas and electric, respectively.
Global Anti-reflective coatings Market - Impact of Coronavirus (Covid-19) Pandemic
Nation-wide lockdowns have been implemented by governments across the globe which will influence the growth the economic activity across the globe. However, rising trend for usage of anti-microbial coatings demand in healthcare and food & beverage industries is expected to aid the growth of anti-reflective coatings market in next few years till end of the 2021.
Competitive Section
Key players are operating in the global anti-reflective coatings market are Carl Zeiss AG, Essilor International S.A, Honeywell International Inc., Hoya Corporation, iCoat Company LLC, Janos Technology LLC, JDS Uniphase Corporation, Koninklijke DSM N.V, and Optical Coatings Japan
Few Recent Developments
Anti-reflective coatings are applied on lens surfaces and optical elements for reducing the reflection which in turn improves the efficiency In addition to this, anti-reflective coatings are also utilized in spectacle lens to aiding eye contact and reduce the glint from a viewer’s sight. Owing to their multi-functional properties, anti-reflective coatings finds its application in various end-user industries such as eyewear, electronics, automobiles, solar panels and telecommunications.
Market Dynamics
The global anti-reflective coatings market has witnessed significant growth in recent past years, owing to the rising usage of advanced coating processes such as ion beam sputtering, ion assisted deposition, and advanced plasma reactive sputtering in order to achieve higher precision in deposition. These advancements have led to the increase in demand for anti-reflective coatings in applications such as telescopes, military & defense, and aerospace, which is expected to foster the market growth during the forecast period.
Major players in the global next-generation packaging market are increasing their investment on innovative product launchings, research & development and marketing & promotional activities to capitalize on emerging trends in various end-use industries such as electronics, automotive, fashion, healthcare and others. This scenario is expected to fuel the market during the forecast period.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective.
* Browse 45 market data tables* and 30 figures* on "Global Anti-Reflective Coatings Market” – global forecast to 2027
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