The Global Anti-reflective Coatings Market was valued at US$ 3,709.28 million in 2016. Anti-reflective coatings consist of optical thin film coatings that reduce reflections and increase transmission from a variety of surfaces. Anti-reflective coatings are applied to enhance the quality of image in camera lenses, glasses or to increase the amount of absorbed light in solar panels. It has various applications in industries such as eyewear, electronics, solar, and automobile due to their extensive use of anti-reflective coatings. Increasing application of anti-reflective coatings in solar, electronic, and eyewear uses and the need for non-conventional energy sources are expected to boost the anti-reflective coatings market growth.
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Key Trends and Analysis of the Anti-Reflective Coatings Market:
Among application, eyewear segment accounts for largest market share in anti-reflective coatings market due to increasing eye disorders among populations and efficient properties of the product. According to the India Brand Equity Foundation (IBEF), a trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India, the eyewear industry is expected to witness growth at an annual rate of 15-20%. Moreover, the company is also expecting to achieve the same growth rate in the near future.
Key Takeaways of the Market:
- North America is expected to be the largest region in the anti-reflective coatings market in 2016 and the dominance expected to continue during 2017-2025. This is due to increasing use of anti-reflective coatings in electronics such as smartphones, tablets, and cameras is anticipated to drive the market in North America. Technological advancements and changing lifestyle has augmented the number of vision disorders, in turn boosting the growth of anti-reflective coatings market. There are various opportunities such as reduction of conventional fuels and the need for decreasing greenhouse gases, which is expected to show significant growth of anti-reflective coatings market in North America.
- The Asia Pacific anti-reflective coatings market is expected to grow at a CAGR of 10.2% during the forecast period. The market was valued at US$ 1,130.07 Million in 2016. This is attributed to a growing demand from automobile industries and need for non-conventional energy resources. According to India Brand Equity Foundation (IBEF), which is a trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India, government takes initiatives to set up manufacturing plants through Make in India. The domestic sales of passenger vehicles in India is estimated to increase at a CAGR of 12.87% during 2016-2026.
- Europe witnessed an incredible growth in anti-reflective coatings market due to rising demand from automobile & solar end use industry. Increasing awareness related to harmful effects of radiations from electronic devices is anticipated to increase the demand for eyewear application, which results in of growth of anti-reflective coatings market. Additionally, the adoption of solar panels and solar cells in Europe has led to an increasing anti-reflective coatings market growth.
- Royal DSM, JDS Uniphase Corporation, Honeywell International, Hoya Corporation, Optical Coatings Japan, PPG Industries Inc., Carl Zeiss AG. and Essilor International S.A., and among others are some of the key players in global anti-reflective coatings market. Various manufacturers are focusing and investing in research and development to expand their product portfolio. For instance, in 2017, Royal DSM, a leading player in anti-reflective coating of solar cover glass, introduced Anti-soil coating for photovoltaic solar glass providing a combination of anti-reflective and anti-soiling properties.