Optical Coatings Market to Witness Significant Growth in Vacuum Deposition Technology| MarketsandMarkets™
Optical coatings are thin layers of material that are applied to optical components such as lenses, filters, and windows. These coatings are intended to modify the surface of the optical component to increase its performance in terms of light reflection, transmittance, and absorption. They are utilised in a wide range of applications, including optical imaging, laser systems, and optical communication systems. Optical coatings have qualities such as better light transmission, improved surface durability, and increased resistance to moisture, UV radiation, and other environmental variables.
The report "Optical Coatings Market by Technology, (Vacuum Deposition, E-Beam Evaporation, Sputtering Process, and Ion Assisted Deposition (IAD)), Type, End-Use Industry, and Region (APAC, North America, Europe, and Rest of World) - Global Forecasts to 2026", size is estimated at USD 12.6 billion in 2021 and is projected to reach USD 19.0 billion by 2026, at a CAGR of 8.5%. The optical coatings market is witnessing high growth owing to increasing demand for renewable energy applications and emerging demand for optical coatings from APAC.
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Vacuum Deposition is the largest technology segment of the optical coatings market
Vacuum deposition is a sort of physical vapor deposition (PVD) procedure in which a thin layer is deposited on a substrate. The substrate is placed in a vacuum chamber during this procedure, and a material, such as a metal, is evaporated and deposited on the substrate. Vacuum deposition is used to manufacture a wide range of optical coatings for glass, plastic, and metal surfaces, including anti-reflection, mirror, and ultraviolet (UV) protection coatings. It is also utilized in the production of transparent conductive oxide (TCO) coatings for display panels, as well as dielectric coatings for optical filters, mirrors, and lenses.
AR coatings are the largest type segment of the optical coatings market
AR coatings are intended to reduce surface reflection and thereby improve the performance of optical devices. They can be used to eliminate glare, improve image clarity, and increase light transmission in a wide range of optical systems. AR coatings are employed in a wide range of applications, including eyeglasses and sunglasses, as well as camera lenses, telescopes, and microscopes.
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Electronics & semiconductors is the largest end-use industry segment of the optical coatings market.
The electronics and semiconductor sector segment is predicted to increase significantly over the forecast period, owing to the rising use of optical coatings in the production of various optoelectronic devices and components. Optical coatings' features, such as excellent optical clarity, high refractive index, and low light absorption, make them ideal for use in optoelectronic devices. Furthermore, the growing need for optical coatings in the production of semiconductor components such as photodetectors and transistors is propelling the expansion of this market segment. Furthermore, the growing demand for optical coatings in the automobile industry is moving the market forward.
North America is the largest market for optical coatings market.
During the projection period, the North American optical coatings market is predicted to expand the most in terms of revenue. The growing need for optical coatings in the military and defense, aerospace, automotive, and medical industries is propelling regional market expansion. The increasing demand for optical coatings from the United States and Canada is driving market expansion in this area. The presence of prominent optical coatings producers in the United States, such as PPG Industries, Inc., Newport Corporation, and Hoya Corporation, is also propelling market expansion in the area. The availability of innovative technologies, such as nanotechnology, is also contributing to the region's market growth.
The key players in the optical coatings market are Dupont (US), PPG Industries Ohio, Inc. (US), Nippon Sheet Glass Co., Ltd. (Japan), ZEISS International (Germany), Newport Corporation (US), Inrad Optics (US), Inc., Artemis Optical Limited (UK), Abrisa Technologies (US), Reynard Corporation (US), II-VI Aerospace & Defense (US), and others.
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