The global optical coatings market size is expected to reach USD 25.64 billion by 2025

LONDON, April 16, 2019 /PRNewswire/ -- Optical Coatings Market Size, Share & Trends Analysis Report By Product (Anti-reflective, Reflective, Conductive), By Application (Consumer Electronics, Architecture, Solar), And Segment Forecasts, 2019 - 2025

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The global optical coatings market size is expected to reach USD 25.64 billion by 2025 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.

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

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