The Global Optical Coatings Market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. —
Asia Pacific is expected to be the fastest growing market for Optical Coating over the forecast period. Rising disposable income and changing lifestyle is positively boosting the demand for optical coatings in end-use industries such as laser & optics, automotive, construction, and electronics. Growing health awareness across the region and high budget allocation for the healthcare sector in Union budget 2018 in India is likely to boost the Optical Coatings Market over the forecast period. Additionally, large applications scope of Optical Coatings in the military and defense-related equipment are expected to fuel the demand in the military & defense industry particularly in emerging economies such as China and India over the forecast period. Furthermore, the augmented demand for Optical Coatings in the solar power industry for improving the efficiency of solar panels coupled with a reduction in excise & customs duties on solar investments and various government initiatives & subsidies are likely to fuel the market growth.
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North America is expected to follow Asia Pacific in terms of market size during the forecast period. Strong emphasis on advance technology is majorly contributing to the growth of this market. Growing preference for architectural glass in the construction of energy-efficient building is likely to speed up the demand for Optical Coatings over the forecast period. Military and defense is another end-use industry, which is projected to be the major consumer of optical coatings owing to high defense budget allocation thereby allowing the use of technologically advanced products. Strong presence of the solar industry in the U.S. is likely to drive the demand for Optical Coatings to a great extent. However, recent events such as solar trade tariff and tax code changes could dampen the market to some extent. Furthermore, high individual purchasing power and luxury lifestyle are expected to boost the demand for optical coatings in the laser & optics industry for manufacturing of various products such as eyewear, sunglasses, and cameras.
Europe is another major market for Optical Coatings and is expected to exhibit high demand over the forecast period. The Automotive and electronics industries are expected to be the major consumer of Optical Coatings during the forecast period, 2018-2023. Additionally, a significant demand for Optical Coatings from the construction and renovation industry is also likely to drive a considerable the market growth over the forecast period.
The Middle East & Africa is expected to drive the demand for Optical Coatings mainly from the growing construction industry to boost the tourism industry. Ongoing infrastructural projects such as Smart City and Dubai Expo 2020 in the U.A.E., FIFA world cup 2020 in Qatar are likely to support the market growth further.
Latin America held the least share of the Global Optical Coatings Market in 2017 and is expected to show a moderate growth over the forecast period. The demand is majorly expected to come from the ongoing construction & infrastructural activities in countries such as Brazil, Mexico, and Venezuela.
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Some of the key players in the Global Optical Coatings Market are Edmund Optics Inc. (U.S.), Thorlabs, Inc. (U.S.), Angstrom Engineering Inc. (Canada), Optiforms, Inc. (U.S.), Abrisa Technologies (U.S.), Carl Zeiss Jena GmbH (Germany), II-VI Optical Systems (U.S.), Inrad Optics (U.S.), PPG Industries, Inc. (U.S.), Nippon Sheet Glass Co., Ltd. (Japan), Newport Corporation (U.S.), DowDuPont, Inc. (U.S.), Reynad Corporation (U.S.), Optics Balzers AG (Liechtenstein), Zygo Corporations (U.S.), and Optical Coating Technologies (UK).
The Global Optical Coatings Market is segmented by type, Coating Method, Coating Material, End-Use Industry and Region.
On the Basis of the Type, the Global Optical Coatings Market is segmented into anti-reflective (AR) coatings, beam-splitter coatings, electrochromic (EC) coatings, filter coatings, high reflective coatings, transparent conductive coatings, partial reflection coatings, and others. The filter coatings is sub-segmented into short-pass, long-pass, and notch filters.
On the Basis of the Coating Method, the Global Optical Coatings Market is segmented into vacuum deposition/evaporative deposition, sputter deposition, and others. The vaccum deposition is sub-segmented into thermal evaporation and electron beam deposition. The sputter deposition method is sub-segmented into ion beam sputtering (IBS), ion assisted deposition (IAS), reactive sputtering, magnetron sputtering, plasma sputtering, and gas flow sputtering.
On the Basis of the Coating Material, the Global Optical Coatings Market is segmented into metallic materials and dielectric materials.
On the Basis of the End-User Industry, the Global Optical Coatings Market is segmented into electronics, laser & optics, automotive, construction, military & defense, solar, healthcare, and others.
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