Sarasota, FL — 12/11/2017 — 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.
The global anti-reflective coatings market is expected to witness substantial growth within the forecast period on account of the demand from several regions across the globe. Anti-reflective coatings are used in a wide range of applications where light is passed through an optical surface and low loss or low reflection is desired. Examples include anti-glare coatings on corrective lenses & camera lens elements and antireflective coatings on solar cells. Anti-reflection coatings greatly reduce the light loss in multi-element lenses by making use of phase changes and the dependence of reflectivity on the index of refraction.
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Increasing adoption of anti-reflective coatings in solar and electronic applications is expected to be the major driver for the anti-reflective coatings market. Factors such as rising demand for the high light transmitting eyeglasses and lenses are also expected to drive the anti-reflective coatings market across the globe. In addition, rapidly growing solar PV market coupled with increasing focus on clean energy development is expected to propel the demand for anti-reflective coatings within the forecast period. However, the stringent regulations imposed on the raw materials are expected to be a major restraint for the anti-reflective coatings market. Lack of awareness of the consumers and issues in usability are also expected to curb the growth of the anti-reflective coatings within the forecast period. Technological advancements in order to produce cost-effective and high-quality products are expected to open new avenues of opportunities in the coming years.
The global anti-reflective coatings market can be segmented into electron beam evaporation, sputtering and others based on technology. The electron beam evaporation accounted for the largest market share in 2016 and is expected to witness significant growth. This can be attributed 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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Based on applications, the global anti-reflective coatings market can be further segmented into eyewear, electronics, solar, automotive and other applications. Eyewear emerged as the most dominant application segment in 2016 accounting for the largest market share. Rising population with vision correction disorders including myopia or hyperopia coupled with superior properties of the product aiding vision correction is expected to propel 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 solar segment is also expected to witness significant growth owing to the increasing demand for solar panels and solar energy to meet the energy requirements of the ever-growing population. Other applications of anti-reflective coatings are kiosk displays, telescopes, riflescopes, video glasses and binocular lenses.
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North America dominated the anti-reflective coatings market in 2016 accounting for the majority of the global market share. Increasing adoption of anti-reflective coatings in consumer electronic devices such as tablets, smartphones, cameras etc. is expected to be the major driver for the market in this region. Asia Pacific is expected to be the fastest-growing region for anti-reflective coatings market majorly owing to demand from countries such as China, India, and South Korea. Europe is expected to record stable growth of the anti-reflective coatings market owing to rising adoption of solar panels and solar energy in the region.
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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