Global anti-reflective coatings market is expected to reach USD 5.71 Billion by 2022, growing at a CAGR of 8.4% between 2017 and 2022.
Sarasota, FL -- (SBWIRE) -- 09/14/2017 -- Zion Market Research has published a new report titled "Anti-Reflective Coatings Market by Technology (Electron Beam Evaporation, Sputtering, and Others) for Eyewear, Electronics, Solar, Automotive and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 - 2022". According to the report, the global anti-reflective coatings market accounted for USD 3.53 Billion in 2016 and is expected to reach USD 5.71 Billion by 2022, growing at a CAGR of around 8.4% between 2017 and 2022.
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The global anti-reflective coatings market is expected to witness significant growth over the forecast period on account of the increasing adoption of anti-reflective coatings in solar and electronic applications. Anti-reflection coatings are used to reduce the loss of light in multi-element lenses by making use of phase changes and the dependence of reflectivity on the index of refraction. The coating includes a light absorbing dye that reduces the losses due to defects and increases the yield of usable product. The growing implementation of anti-reflective coatings in electronic and solar applications and the demand for nonconventional sources of energy are expected to drive the demand for anti-reflective coatings market within the forecast period. The rapid depletion of fossil fuels and global warming are expected to aid the growth of the solar panels market consequently spurring the demand for anti-reflective coatings. However, the stringent regulations imposed on the raw materials and the lack of awareness among consumers is expected to be a major restraint for the growth of anti-reflective coatings market within the forecast period. Technological advancements in order to uncover cost-effective solutions and manufacture high-quality products are expected to open new avenues of opportunities in the coming years.
Based on technology, the electron beam evaporation accounted for the largest market share in 2016 and is expected to witness significant growth owing to its relatively low pricing as compared to the other technologies. The sputtering segment is also expected to grow at a significant rate owing to its high mechanical & environmental durability along with greater precision & absorption. Other technologies used for deposition of anti-reflective coatings consist of chemical vapor deposition, the sol-gel method, and spin method.
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Eyewear segment dominated the anti-reflective coatings market among applications with a major share of the total market. Rising population with vision correction disorders coupled with superior properties of the product is expected to spur the growth of the anti-reflective coatings market within the forecast period. Electronics segment accounted for the second largest market share of anti-reflective coatings in 2016 and is expected to grow in light of demand from smartphone and flat panel displays across the globe. The increasing demand for solar panels and solar energy to meet the energy requirements of the world is expected to augment the demand for antireflective coatings for solar applications within the forecast period. Other applications of anti-reflective coatings include kiosk displays, telescopes, riflescopes, video glasses and binocular lenses.
In terms of geography, North America was the largest market for anti-reflective coatings in the world due to the increasing adoption of anti-reflective coatings in consumer electronic devices. Asia Pacific is expected to be the fastest growing market for anti-reflective coatings within the forecast period primarily owing to the demand from countries such as China, India, and South Korea.
The key players operating in the global anti-reflective coatings market are Royal DSM, Honeywell International Inc., Carl Zeiss, DuPont, Essilor, Hoya Corporation, iCoat Company LLC, PPG Industries, Rodenstock GmbH, Janos Technologies, Cascade Optical Corporation and Optical Coating Japan.
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This report segments the global anti-reflective coatings market as follows:
Global Anti-Reflective Coatings Market: Technology Segment Analysis
Electron Beam Evaporation
Global Anti-Reflective Coatings Market: Application Segment Analysis
Global Anti-Reflective Coatings Market: Regional Segment Analysis
The Middle East and Africa