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Global Optical Coating Market is valued at USD 12.57 Billion in 2021 and is expected to reach USD 22.53 Billion by 2028 with a CAGR of 8.7% over the forecast period.
Global Optical Coating Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2028. Growing demand from the solar power sector and rising number of technological advancements in the optical coating fabrication process are the major factors driving the growth of the Global Optical Coating Market.
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Scope of Global Optical Coating Market Report-
Optical coatings typically consist of thin films made up of single or multiple layers of either metallic or dielectric materials and can dramatically modify the reflection and transmission properties of an optical component if properly designed and fabricated. Optical coatings are designed for a specific incident angle of light and for a specific polarization of light such as S-polarized, P-polarized, or random polarization. The properties can be controlled from the deep UV to the IR with narrowband, broadband, or multi-band response, and can be polarization sensitive.
Covid-19 has negatively impacted the growth of the optical coating market. The pandemic badly affected on various factors and platforms. In addition, in the pandemic situation to decrease the threat of covid-19 infection spread, governments are applying several rules and regulations. Several restrictions like, lockdowns, transportation restrictions, social distancing, and other restrictions are majorly affected. Optical coating manufacturers were affected in 2020 by business closure orders and also there was the disturbance in the supply chain network.
The optical coating market is segmented based on optical type, technology, end-use industry, and geography. Based on type, the optical coating market is segmented into antireflection coatings, high reflection coatings, beamsplitter coatings, transparent conductive coatings, electrochromic coatings, filter coatings and partial reflection coating. Based on technology, the market is segmented into vacuum deposition technology, e beam evaporation technology, sputtering technology, ion assit deposition technology and others. Based on end-use industry, the optical coating market is segmented into electronics and semiconductor, military and defense, automotive, construction, solar, medical and others.
Global Optical Coating Market Segmentation:
Optical Coating Market Key Players
VSP Optics Launched New Techshield Anti-Reflective Coatings
November 5th,2021; VSP Optics announced the launch of new TechShield Anti-Reflective (AR) Coatings. As part of its ongoing commitment to provide eye care professionals with innovative, high-quality products, TechShield AR Coatings now offer patients greater clarity, scratch resistance, smudge resistance, and cleanability.
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North America is expected to dominate the global optical coatings market during the forecast period which can be attributed to the growing demand in the electronics and semiconductor industries and the rising contribution by the government and key players to the commercialize the optical coatings in this region. Furthermore, Europe is foot forwarding in to the solar power plant investments and it makes major requirement of optical coating market. For example; Germany has over 1.86 million energy generating solar photovoltaic sites.
Asia Pacific is expected to show the fastest growth in the global optical coating market due to the increasing investment into the solar power sector and rising growth of electronics and semiconductor industry in this region. Solar energy has become the most profitable source of available new energy and is playing a major role in efforts to de-carbonize markets in the Asia-Pacific region. In the recent years, governments have taken initiative to invest into solar plant for generating light from the natural source. For example; Asia Pacific held a share of 58.9% in the global solar PV market in terms of cumulative capacity. China, government plans to increase the cumulative renewable capacity to 175 GW by March 2022, which includes 100 GW from solar resources. In November 2019, the government announced plans to further increase the country’s renewable capacity to 450GW by 2030.
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