WASHINGTON, June 28, 2023 (GLOBE NEWSWIRE) — The Global Optical Coatings Market is valued at USD 12.9 Billion in 2022 and is projected to reach a value of USD 23.28 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 8.8% over the forecast period 2023-2030.
The global Optical Coatings market is witnessing a growing demand for anti-reflective coatings due to their ability to enhance the clarity and quality of the optical device. Anti-reflective coatings are used in various applications such as eyeglasses, camera lenses, solar panels, and even telescope lenses to reduce light reflection and glare, making it easier for the user to view images and objects. The increasing use of optical devices in various industries, such as healthcare, aerospace, defense, and electronics, has fueled the demand for anti-reflective coatings. These coatings improve the performance and durability of optical devices, making them more efficient and reliable. Moreover, the need for anti-reflective coatings is driven by the growing awareness among consumers of the harmful UV rays and blue light emitted by electronic devices. These coatings protect the eyes from harmful radiation, reducing the risk of eye strain and fatigue, a major concern for people working in front of computer screens for extended periods.Optical Coatings play a vital role in the aerospace and defense industry as they enhance optical components’ performance, durability, and reliability. The demands for Optical Coatings in this industry have been continuously rising in recent years, mainly due to advancements in technology and research. One of the main reasons for the rise in demand for Optical Coatings is their ability to improve the efficiency of optical components, such as lenses and mirrors, used in various aerospace and defense applications. These coatings enhance the quality of images and reduce the amount of light lost due to reflections, enhancing the accuracy of optical instruments used in various missions. The aerospace and defense industry requires Optical Coatings that withstand severe environmental conditions, such as temperature, humidity, and UV and IR radiation exposure. Hence, the demand for specialized Optical Coatings that can provide high levels of durability and reliability has increased in the industry. Moreover, technological advancements in the aerospace and defense industry have led to the development of new optical materials and components that require specialized coatings. For instance, the demand for thin film coatings for use in advanced displays, satellite communication systems, and infrared sensors has recently increased.The global Optical Coatings market is highly competitive due to the presence of many global & regional players. The market players are heavily investing in R&D to develop new and advanced Optical Coatings to meet the evolving market demands and stay ahead of their competitors. They also focus on mergers, acquisitions, partnerships, and collaborations to strengthen their market position. Some of the major players in the global Optical Coatings market include PPG Industries Inc., DuPont, SCHOTT, Essilor International, Zeiss Group, Optimax Systems Inc., Materion Corporation, Nippon Electric Glass Co. Ltd., Inrad Optics, and VIAVI Solutions Inc. The market players also focus on expanding their geographic presence to increase their market share. For instance, DuPont recently opened a new facility in South Korea to expand its product portfolio and meet the demand for Optical Coatings in the APAC region.High-Reflective Coatings are a specific type of optical coating used to reflect light back toward its source. These specialized coatings are used in various applications, ranging from high-power laser systems to solar panels, optical mirrors, and scientific instruments. The Optical Coatings market is experiencing high growth due to the increasing demand for high-quality optical devices in various end-use industries, such as defense, aerospace, automotive, and healthcare.
(GlobeNewsWire)