SAN FRANCISCO, May 8, 2019 /PRNewswire/ -- The global optical coatings market size is expected to reach USD 25.64 billion by 2025, according to a new report by Grand View Research, Inc. 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.
Key suggestions from the report:
- 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
Read 224 page research report with TOC on "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" at: https://www.grandviewresearch.com/industry-analysis/optical-coatings-industry
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.
Grand View Research has segmented the global optical coatings market report on the basis of product, application, and region:
- Optical Coatings Product Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- Optical Coatings Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- Consumer Electronics
- Aerospace & Defense
- Optical Coatings Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- South Korea
- New Zealand
- Central & South America
- Saudi Arabia
- South Africa
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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