According to a new report published by Allied Market Research titled, “Antireflective Coatings Market by Technology and Application: Global Opportunity Analysis and Industry Forecast, 2014-2022”, the global antireflective coatings market was valued at $2,818 million in 2015, and is expected to reach $4,858 million by 2022, registering a CAGR of 8.2%, from 2016 to 2022. Based on application, automobile and solar panel are expected to show highest growth rates throughout the forecast period.
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the forecast period owing to rise in adoption of antireflective coatings by eyewear & photovoltaic industries and increase in awareness about importance of antireflective coatings in optical glasses In audition, increase in the energy efficiency of solar panels by using antireflective coatings has supplemented the market growth. However, high costs associated with products is a major restraint of this market. Moreover, innovation in the existing technologies of application serves as a great opportunity for expansion of the antireflective coatings market.
The antireflective coatings market is expected to show high growth rate in developing economies of the Asia-Pacific region. This is attributed to the vast adoption of emerging technologies such as antireflective coatings and smart glass in automotive sectors, especially in India and China. Moreover, surge in adoption of antireflective coatings in the photovoltaic industry in countries such as Brazil and Argentina drives the growth of the market. Increase in installation of solar panels in these counties have further accelerated the market growth. Eyewear segment dominated the market in 2015, accounting for over one-third of the share.
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According to Eswara Prasad, Team Lead, Chemicals and Materials at Allied Market Research, “Increase in investment in R&D and development in antireflective coatings technologies such as sputtering & electron beam evaporation are projected to create lucrative opportunities for the market growth.”
KEY FINDINGS OF THE STUDY
North America dominated the global antireflective coatings market in 2015, accounting for maximum of the share, both in terms of revenue and volume.
In 2015, antireflective coatings used in eyewear accounted for majority of the share, and is expected to maintain its lead throughout the forecast period.
Turkey is expected to show the highest growth rate in the European antireflective coatings market, registering a CAGR of 10.1%.
In 2015, the vacuum deposition technology market accounted for maximum, and is expected to maintain its lead, growing at a CAGR of 7.7%.
Asia-Pacific is expected to grow at the fastest rate, registering a CAGR of 9.2%.
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In 2015, North America antireflective coatings market generated the highest revenue, and is expected to offer lucrative opportunities to market players, owing to increase in demand for these coatings in the eyewear segment. Rise in awareness about the coatings in eye glasses to enhance visibility has resulted in growth of production in the U.S. Asia-Pacific is projected to show highest growth rate throughout the forecast period owing to the development of automotive industry in the developing economies.
Major players profiled in this report are Essilor International, Carl Zeiss AG, E. I. du Pont de Nemours and Company, Koninklijke DSM N.V., Honeywell International, PPG Industries, Hoya Corporation, Viavi Solutions, Inc., Optical Coatings Japan, and Rodenstock GmbH.
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