Anti-Reflective Coatings Market Synopsis:
Market Overview and Forecast:
Market Research Future has a half-cooked research report on Anti-Reflective Coatings Market. The Anti-Reflective Coatings Market in 2015 was USD 3.4 Billion and is expected to grow at CAGR of 8.7% from 2016 to 2022.
Anti-Reflective Coatings Market is expected to increase to USD 5.8 billion by the end of 2022. Anti-Reflective Coatings are highly preferred in eyeglasses due to their ability to enhance visibility and distract back reflections from surrounding surfaces. This coating is applied on optical surface to reduce direct sunlight glare, eliminate unwanted reflections and adjust the contrast light of surroundings so that customers feel comfortable to experience the environment. The growing application industries such as electronic and eyewear along with increasing need of non-conventional resources such as solar power is expected to drive the demand for anti-reflective coatings. Government concern regarding increase in eye disorder majorly in children due to low awareness, fluctuation in price and supply of raw material can hamper the market in future.
Anti-reflective coatings are produced through various technology such as electron beam evaporation method and sputtering method. Electron beam evaporation method dominated the market owing to low cost coupled with technological advancement. Sputtering method is expected to witness a significant growth due to high mechanical and durability property and utilization of these upon production yield, cost and material.
Anti-Reflective Coatings Market Players:
The major participants of this market are: Royal DSM, Carl Zeiss AG, Honeywell International Inc, Hoya Corporation, Essilor International Co., PPG Industries, Inc, Rodenstock GmbH, Cascade Optical Corporation, Janos Technology Inc, iCoat Company LLC and others.
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The Global Anti-Reflective Coatings Market is majorly segmented on the basis of technology and applications. Based on the technology, anti-reflective coating market is segmented into electron beam evaporation and sputtering. Further, on the basis of application the market is classified into eyewear, automobile, electronics and solar power system.
Global Anti-Reflective Coatings Market sees a strong growth due to its demand from end user industries such as eyewear, automobile, electronic and solar power system. Eyewear application industry account for largest market share owing to its characteristic such as eliminating unwanted reflection and distracting direct sunlight. This application is likely to boost the demand for anti-reflective coating owing to technological advancement in the same. Electronics account for second largest market owing to use of smartphones, electronic gadgets and smart TV. These devices need anti-reflection coating glasses for providing high definition. Increase in production and supply of smartphones in emerging economies is expected to drive the demand for Anti-Reflective Coatings Market. Moreover, increase in production of automobiles will also increase the demand for anti-reflective coatings as it is used in GPS display system and windshield of car. High end customers are looking out for technologies in vehicles such as GPS navigation system. Anti-reflective coatings are used in GPS system to avoid too much glare. Additionally, anti-reflective coatings are used in car windshield to avoid phase changes during driving. Other applications like solar power system are growing in order to meet the energy demand of the world and it is expected that anti-reflective coatings will be used for solar panels in forecasted period. The rapid depletion of conventional energy resources and growing concern about global warming is expected to aid the demand for solar panels increasing the demand for anti-reflective coatings.
Geographically, North America shares the largest market of anti-reflective coatings. This share is attributed to growing electronic industries and solar power systems. Various gadgets like smartphones, TVs and cameras need anti-reflective glass panel that can separate bright colors, indoor and outdoor light. Therefore, it is expected to aid the growth of Anti-Reflective Coatings Market in this region. Increase in need of non-conventional resources and growing concern of depletion of fossil fuels and greenhouse gases has open an opportunity for solar energy panels market to grow in this region.
It is expected that Europe will show a significant growth in anti-reflective coatings owing to demand for solar system and automobile end users. Automobile industry is contributing rapidly in the growth of the Anti-Reflective Coatings Market owing to its applications like GPS system and windshield. Germany is expected to forecast highest demand for anti-reflective coatings owing to use of solar power system for energy consumption in automobile industries over here.
Asia-Pacific is the fastest growing region for Anti-Reflective Coatings Market. Rapid industrialization and growing demand of non-conventional resources in manufacturing industries that generates energy is anticipated to aid growth of anti-reflective coatings in solar system. Countries like China, India and South Korea are looking forward for expansion in non-conventional resources due to growing population and depletion of fossil fuels. Therefore, it is expected to aid growth of Anti-Reflective Coatings Market.
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