Global Antireflective Coatings Market Size, Share, and COVID-19 Impact Analysis, By Layer Type (Single Layered & Multi Layered), By Technology (Vacuum Deposition, Electronic Beam Evaporation, Sputtering & Others), By Application (Eyewear, Electronics, Solar Panels, Automobile & Others), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) Analysis and Forecast 2022 – 2030
KEY MARKET INSIGHTS
The Anti-reflective Coatings Market was valued at USD 4.3 Bn in 2021. The market is projected to grow USD 8.9 Bn in 2030, at a CAGR of 7.6%. Anti-reflective Coatings are optical thin film coatings that help reduce reflection characteristics and increase optical surface transmission. Anti-reflective coatings are primarily utilized to protect the surface of components in the semiconductor, automobile, construction, and aerospace industries. Anti-reflective glasses are an inexpensive way to cut down on glare from computer screens, televisions, flat panels, and other electronic displays. When used on high-index lenses, which reflect more light than conventional plastic lenses, antireflective coatings are very helpful. In general, the higher the index of refraction of the lens material, the more light is reflected off the lens surface.
COVID-19 ANALYSIS
COVID-19 has had a significant influence on the world economy, wreaking havoc on global trade and affecting households, businesses, financial institutions, industrial facilities, and infrastructure corporations all at the same time. Short-term market demand is expected to be limited due to international trade limitations and lockdown rules on the chemical industry's operations. Since the pandemic knocked on the doors of numerous worldwide markets, the market has slowed. The government's lockdown resulted in a significant halt of market activity, with the participants bearing the brunt of the consequences in the form of losses, less skilled personnel, and unavailability of raw materials for production.
LATEST TREND
Increasing Demand for Anti-Reflective Coatings in Manufacturing of High Transmitting Lenses and Glasses
Anti-reflective coatings are projected to expand in popularity due to rising demand for high-transmitting lenses and spectacles. Anti-reflective coatings are benefiting from the expanding eyewear market. This is due to rising vision impairments and a growing geriatric population, both of which are driving demand for eyewear. As a result of the rising demand for eyewear, anti-reflective coatings are likely to expand in popularity.
DRIVING FACTORS
Shifting Focus to Use Renewable Sources of Energy
The market for anti-reflective coatings is predicted to increase in tandem with the global installation of solar panels due to the rising demand for a sustainable source of electricity. The market is likely to develop as the demand for energy grows and the desire to lessen dependency on fossil fuels grows. Anti-reflective coatings are commonly used on solar PV panels' surfaces. As a result, the market for anti-reflective coatings is growing faster than the market for solar PV.
RESTRAINTS
Limited Awareness Regarding Benefits of Anti-Reflective Coatings in Eyewear
A lack of awareness about the benefits of anti-reflective eyewear is likely to get hampered for market growth. Furthermore, uncoated lenses are less expensive than anti-reflective coated lenses, which is predicted to limit their use. As a result, the expansion of the anti-reflective coating industry is being stifled. Anti-reflective coatings market growth is likely to be limited by high production costs due to expensive application procedures.
SEGMENTATION
The global anti-reflective coatings market is segmented by Layer Type (Single Layered & Multi Layered), By Technology (Vacuum Deposition, Electronic Beam Evaporation, Sputtering & Others), By Application (Eyewear, Electronics, Solar Panels, Automobile, & Others) and Region. Based on the layer type, the market is categorized into single layered, multi layered. Based on technology, the market is categorized into vacuum deposition, electronic beam evaporation, sputtering & others. Based on application, the market is categorized into eyewear, electronics, solar panels, automobile, and others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.
Layer Type Insights
Based on the layer type segment, the global anti-reflective coatings market is categorized into single-layered & multi-layered. The single-layered segment has dominated the market share in 2020 of global antireflective coatings market owing to the covering of small range of visible wavelengths. The primary reason for its domination is its lower cost as compared to multi-layered coatings, as well as its comparable hardness and durability.
Technology Insights
Based on the technology segment, the global anti-reflective coatings market is categorized into vacuum deposition, electronic beam evaporation, sputtering & others. The vacuum deposition segment has dominated the market share in 2020 of the global antireflective coatings market owing to the number of procedures for depositing layers of the appropriate material onto the optical surface.
Because of its low environmental effect and adaptability, vacuum deposition technology is generally used for the application of anti-reflective coatings. Vacuum deposition has various advantages, including the ability to create an environmentally friendly and repeatable environment for the process. This is owing to the fact that this technology is becoming more widely used in anti-reflective coating applications. Vacuum deposition highlights the coating technique' adaptability and requirements.
Application Insights
Based on the application segment, the global anti-reflective coatings market is categorized into eyewear, electronics, solar panels, automobile, others. The eyewear segment has dominated the market share in 2020 of global antireflective coatings market owing to the increasing number of persons suffering from presbyopia, so does the demand for progressive lenses. Presbyopia is a disorder in which the crystalline lens of the eye hardens with age, making reading at close range difficult.
Anti-reflection lenses are a cost-effective way to cut down on glare from computer screens, televisions, flat panel displays, and other electronic displays. To prevent glare and offer low reflectivity, anti-reflective coatings are utilised. This enhances visual awareness while also making the display easier to read. The availability of a wide range of marketing conditions creates a favorable environment for market expansion.
REGIONAL INSIGHTS
The global antireflective coatings market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America region is dominating the market share of global antireflective coatings market owing to the rising demand for anti-reflective coatings in eyeglasses and increased application in consumer goods such as smartphones, cameras, and flat panel displays have created a profitable opportunity for market expansion in this region. Another important driving element for market expansion in this region is an increase in consumer goods demand. The presence of significant key players in this region, as well as demand for antireflective coatings in various manufacturing sectors, aided market expansion. For instance, according to the US Department of Health and Human Services, the number of near sightedness affects roughly 23.9 percent of the population over 40 years old in the United States (about 34 million people). However, Asia Pacific region is anticipated to grow over the next few years of global antireflective coatings market owing to the rising packaging demand in logistics, the expanding aerospace manufacturing business, and other manufacturing processes in China. Smartphones, televisions, wires, cables, portable computer devices, gaming systems, and other personal electronic devices grew at the fastest rate in the electronics market. The country covers meet domestic demand for electronics, but it also exports its output to foreign countries. China is likely to lead the market in the Asia Pacific Region as a result of all of the aforementioned causes.
PLAYERS PROFILED:
· Dupont
· ZEISS Group
· Essilor
· Honeywell International Inc
· Hoya Corporation
· Mitsui Chemicals, Inc.
· ICOAT COMPANY, LLC
· Janos Technology, LLC
· VIAVI Solutions Inc.
· Royal DSM N.V.
· Optical Coatings Japan
· PPG Industries Inc.
· Rodenstock GmbH
· Others
Key Developments:
October 2020- Mitsui Chemicals acquired COTEC GmbH to expand the portfolio of its vision care materials division.
May 2020- VSP Optics launched TechShield® Anti-Reflective Coatings, anti-reflective lens coatings with ISO-certified technology for ophthalmic lenses in the United States.
SEGMENTATION
By Layer Type
- Single Layered
- Multi Layered
By Technology
- Vacuum Deposition
- Electronic Beam Evaporation
- Sputtering
- Others
By Application
- Eyewear
- Electronics
- Solar Panels
- Automobile
- Others
By Region
- North America- U.S., Mexico, Canada
- Europe- UK, France, Germany, Italy
- Asia-Pacific- China, Japan, India
- Latin America- Brazil, Argentina, Colombia
- The Middle East and Africa- United Arab Emirates, Saudi Arabia
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Global Antireflective Coatings Market Size
- June-2022
- 148
- Global
- Chemicals-and-Advanced-Materials
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