Optical Coatings Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 8.84 Billion |
| Market Size (2029) | USD 11.92 Billion |
| CAGR (2024 - 2029) | 6.17 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Optical Coatings Market Analysis
The Optical Coatings Market size is estimated at USD 8.84 billion in 2024, and is expected to reach USD 11.92 billion by 2029, growing at a CAGR of 6.17% during the forecast period (2024-2029).
The market was highly impacted by COVID-19 in 2020. The COVID-19 pandemic affected the optical coatings market because of supply chain and market disruption. However, the market rebounded back in 2021-2022.
- Over the short term, increasing demand for optical coatings from the solar industry is expected to drive the market.
- High costs and some limiting properties of optical coatings are expected to hinder the market's growth.
- The upcoming demand for electric vehicles is likely to create opportunities for the market in the coming years.
- The Asia-Pacific region is expected to dominate the market and is likely to witness the highest CAGR during the forecast period.
Optical Coatings Market Trends
The Electronics and Semiconductors Segment is Expected to Dominate the Market
- Optical coatings are used in various electronic applications where light must pass through optical surfaces. In cell phones and tablet screens, optical anti-reflective coatings are used for various effects, such as making it easier to read under sunlight. They are also used for anti-glare applications on consumer screens.
- Transparent conductive coatings are also used in an electronic display. The market studied is being driven by the continuous growth of the demand for consumer electronics. The production of cellular phones, portable computing devices, gaming systems, and other personal electronic devices is anticipated to continue to spark the demand for semiconductors, displays, and other electronic components.
- Optical coatings are used in semiconductor applications. These coatings are applied to the facets of the semiconductor diode lasers. The demand for semiconductors has shown very high growth in the past few years owing to the increasing penetration of IoT in many industries, which, in turn, is driving the demand for the optical coatings market.
- For instance, according to the Japan Electronics and Information Technology Industries Association (JEITA) - December 2021 release, the production by the global electronics and IT industry was estimated at USD 3.36 trillion in 2021, registering a growth rate of 11% Y-o-Y compared to USD 3.03 trillion in 2020. Moreover, the industry was expected to reach USD 3.54 trillion, with a growth rate of 5% Y-o-Y by 2022.
- According to the World Semiconductor Trade Statistics, the global semiconductor market size accounted for USD 555.89 billion in 2021, registering a growth of 26.23% compared to USD 440.39 billion in 2020. Moreover, the global semiconductor market was expected to increase by 13.9% in 2022, which corresponds to sales of USD 633 billion. In 2023, the global semiconductor market is projected to grow by 4.6% to USD 662 billion.
- According to ZVEI, the electronic and digital industry turnover in Germany accounted for EUR 199.8 billion (~USD 236.36 billion) in the full-year 2021, witnessing a growth rate of 9.8% compared to 2020. Furthermore, in terms of production, the electro and digital industry registered a growth rate of 8.8% in 2021 compared to 2020.
- Therefore, the aforementioned factors are expected to have a significant impact on the market in the coming years.
The Asia-Pacific Region is Expected to Dominate the Market
- The Asia-Pacific region is estimated to dominate the optical coatings market during the forecast period. Increasing demand for optical coatings from electronics and semiconductors, and aerospace and defense sector, and other sectors in countries like China, India, Japan, and South Korea is expected to drive the market's growth.
- The Civil Aviation Administration of China (CAAC) has estimated the aviation sector to recover domestic traffic to around 85% of pre-pandemic levels. In addition, Chinese airline companies are planning to purchase about 7,690 new aircraft in the next 20 years, which were valued at approximately USD 1.2 trillion. This is further expected to raise the market demand for optical coatings.
- According to the India Brand Equity Foundation (IBEF), globally, India ranks fourth in renewable energy and wind power capacity and fifth in solar power capacity. According to the Annual 2021 India Solar Market Update, as of the end of December 2021, the cumulative solar capacity installed in India was around 49 GW.
- In addition, India added a record 10 GW of solar power in 2021. Solar power accounted for 62% of newly added power capacity in 2021, the largest share of power capacity to date. For 2021, large-scale solar PV projects accounted for 83% of installations, an increase of 230% annually.
- In Japan, according to the Japan Electronics and Information Technology Industries Association (JEITA), as of December 2021, the global production by the Japanese electronics and IT industry, including electronic equipment, components, devices, and others, was estimated to register a growth of 8% annually in 2021 to JPY 37.32 trillion (~USD 340.54 billion) and the industrial production was forecasted to JPY 38.02 trillion (~USD 346.89 billion) in 2022, with an estimated growth of 2% annually.
- Due to all such factors, the market for Optical coatings in the region is expected to have a steady growth during the forecast period.
Optical Coatings Industry Overview
The optical coatings market is highly fragmented in nature. Some of the key players in the market include DuPont, ZEISS International, Newport Corporation, PPG Industries Inc., and Nippon Sheet Glass Co. Ltd, among others.
Optical Coatings Market Leaders
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PPG Industries Inc
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Dupont
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Newport Corporation
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Zeiss International
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Nippon Sheet Glass Co. Ltd
*Disclaimer: Major Players sorted in no particular order
Optical Coatings Market News
- April 2022: Imatest announced a new partnership with Edmund Optics Inc. to enable its customers to buy Imatest software and charts via Edmund Optics' website seamlessly. Additionally, this partnership will allow Edmund Optics' imaging customers to easily acquire the tools needed to evaluate their imaging performance.
- April 2022: Edmund Optics Inc. opened a new facility in New Jersey, United States, less than three miles from the company's headquarters. This office will facilitate internal and external collaboration and communication, enhanced services, a lab for specialized technical support, a state-of-the-art video studio, and easy access for visits.
- April 2022: Carl Zeiss Meditec announced the acquisition of two manufacturers of surgical instruments (Kogent Surgical, LLC and Katalyst Surgical, LLC) to strengthen its positioning as a solution provider further. This is a significant acquisition for ZEISS Medical Technology which will help to scale the businesses, contribute to its surgical solution offering, and add recurring revenue.
Optical Coatings Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Growing Demand from the Solar Industry
- 4.1.2 Technological Advancements in the Optical Coatings Process
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4.2 Restraints
- 4.2.1 High Costs and Some Limiting Properties of Optical Coatings
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 Product Type
- 5.1.1 Optical Filter Coatings
- 5.1.2 Anti-reflective Coatings
- 5.1.3 Transparent Conductive Coatings
- 5.1.4 Mirror Coatings (High Reflective)
- 5.1.5 Beam Splitter Coatings
- 5.1.6 Other Product Types
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5.2 Technology
- 5.2.1 Chemical Vapor Deposition
- 5.2.2 Ion-beam Sputtering
- 5.2.3 Plasma Sputtering
- 5.2.4 Atomic Layer Deposition
- 5.2.5 Sub-wavelength Structured Surfaces
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5.3 End-user Industry
- 5.3.1 Aerospace and Defense
- 5.3.2 Electronics and Semiconductors
- 5.3.3 Telecommunications
- 5.3.4 Healthcare
- 5.3.5 Solar
- 5.3.6 Automotive
- 5.3.7 Other End-user Industries
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5.4 Geography
- 5.4.1 Asia-Pacific
- 5.4.1.1 China
- 5.4.1.2 India
- 5.4.1.3 Japan
- 5.4.1.4 South Korea
- 5.4.1.5 Rest of Asia-Pacific
- 5.4.2 North America
- 5.4.2.1 United States
- 5.4.2.2 Canada
- 5.4.2.3 Mexico
- 5.4.3 Europe
- 5.4.3.1 Germany
- 5.4.3.2 United Kingdom
- 5.4.3.3 Italy
- 5.4.3.4 France
- 5.4.3.5 Rest of Europe
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Rest of South America
- 5.4.5 Middle East and Africa
- 5.4.5.1 Saudi Arabia
- 5.4.5.2 South Africa
- 5.4.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 3M
- 6.4.2 Abrisa Technologies
- 6.4.3 Accucoat Inc.
- 6.4.4 Artemis Optical Ltd
- 6.4.5 Edmund Optics Inc.
- 6.4.6 DuPont
- 6.4.7 Inrad Optics
- 6.4.8 Materion Corporation
- 6.4.9 Newport Corporation
- 6.4.10 Nippon Sheet Glass Co. Ltd
- 6.4.11 Optical Coatings Technologies
- 6.4.12 PPG Industries Inc.
- 6.4.13 Quantum Coating
- 6.4.14 Reynard Corporation
- 6.4.15 Sigmakoki Co. Ltd
- 6.4.16 Schott AG
- 6.4.17 Zeiss International
- 6.4.18 Zygo Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Upcoming Demand from Electric Vehicles
Optical Coatings Industry Segmentation
Optical coatings are one or more thin layers of material deposited on an optical component, such as a mirror or lens, which alters how it reflects and transmits light.
The optical coating market is segmented by product type, technology, end-user industry, and geography. By product type, the market is segmented into optical filter coatings, anti-reflective coatings, transparent conductive coatings, mirror coatings (high reflective), beam splitter coatings, and other product types. By technology, the market is segmented into chemical vapor deposition, ion-beam sputtering, plasma sputtering, atomic layer deposition, and sub-wavelength structured surfaces. By end-user industry, the market is segmented into aerospace and defense, electronics and semiconductors, telecommunications, healthcare, solar, automotive, and other end-user industries. The report also covers the market size and forecasts for the optical coatings market in 15 countries across major regions such as Asia-Pacific, North America, Europe, South America, and the Middle East and Africa. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).
| Product Type | Optical Filter Coatings | |
| Anti-reflective Coatings | ||
| Transparent Conductive Coatings | ||
| Mirror Coatings (High Reflective) | ||
| Beam Splitter Coatings | ||
| Other Product Types | ||
| Technology | Chemical Vapor Deposition | |
| Ion-beam Sputtering | ||
| Plasma Sputtering | ||
| Atomic Layer Deposition | ||
| Sub-wavelength Structured Surfaces | ||
| End-user Industry | Aerospace and Defense | |
| Electronics and Semiconductors | ||
| Telecommunications | ||
| Healthcare | ||
| Solar | ||
| Automotive | ||
| Other End-user Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle East and Africa |
Optical Coatings Market Research FAQs
How big is the Optical Coatings Market?
The Optical Coatings Market size is expected to reach USD 8.84 billion in 2024 and grow at a CAGR of 6.17% to reach USD 11.92 billion by 2029.
What is the current Optical Coatings Market size?
In 2024, the Optical Coatings Market size is expected to reach USD 8.84 billion.
Who are the key players in Optical Coatings Market?
PPG Industries Inc, Dupont, Newport Corporation, Zeiss International and Nippon Sheet Glass Co. Ltd are the major companies operating in the Optical Coatings Market.
Which is the fastest growing region in Optical Coatings Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Optical Coatings Market?
In 2024, the Asia Pacific accounts for the largest market share in Optical Coatings Market.
What years does this Optical Coatings Market cover, and what was the market size in 2023?
In 2023, the Optical Coatings Market size was estimated at USD 8.33 billion. The report covers the Optical Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Optical Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Optical Coatings Industry Report
Statistics for the 2024 Optical Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Optical Coatings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
