Aug 06, 2020, 17:00 EST
Bronx, United States, Aug 06, 2020, 17:00 /Comserve / -- The global optical coatings market is anticipated to grow at a CAGR of 8.3% during the forecast period, i.e. 2020-2028.
Research Nester has released a report titled “Optical Coatings Market – Global Demand Analysis & Opportunity Outlook 2027” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The International Energy Agency (IEA), in one of its statistics stated that in the year 2018 power generation from solar photovoltaic (PV) cells increased by more than 30% as compared to its previous years. Additionally, in the year 2018, around 44.4 GW of net global solar PV capacity were added in China.
The statistics portray the growing demand for solar power as alternative sources of renewable energy around the world, which is also raising the demand for solar panels and other solar equipment. As such, the nanoparticles that are used as optical coatings in solar panels, help increase the solar radiation absorbing capability by nearly 20% as compared to the uncoated solar panels. Further, utilization of these coating helps solar panel manufacturers to significantly reduce their production cost. The significant demand for optical coatings in the solar industry along with increasing demand for optical coatings from end user industries, such as consumer electronics and healthcare, are some of the factors anticipated to drive the growth of the global optical coatings market.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
The global optical coatings market is anticipated to grow at a CAGR of 8.3% during the forecast period, i.e. 2020-2028. The market is thriving on the back of the opportunities derived for optical coating industry from the advent of autonomous and semi-autonomous cars, along with the emerging applications of thin film optical coatings in power generation for space applications. The global optical coatings market is further segmented by product type into filter coatings, reflective coatings, anti-reflective coatings, conductive coatings, electrochromic coatings and others. Among these segments, anti-reflective coatings segment held the largest market share of 30% in the year 2018 and is anticipated to register a CAGR of 8.1% over the forecast period and cross USD 7000.0 million by the end of 2027.
Geographically, the global optical coatings market is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, North America, which held the largest market share of around 37% in the year 2018, is anticipated to grow with a CAGR of 8.1% over the forecast period on account of growing demand for solar panels across nations, such as U.S. and Canada, along with the presence of numerous medical equipment manufacturing companies in the region.
However, concerns for stringent regulations of utilizing certain raw materials used in the manufacturing of optical coatings across few nations along with the concern for price volatility and scattered availability of the raw materials are some of the factors estimated to act as a barrier to the growth of the global optical coatings market.
This report also studies existing competitive scenario of some of the key players of the global optical coatings market, which includes profiling of SCHOTT AG, ZEISS International, PPG Industries Inc. (NYSE: PPG), Viavi Solutions, Inc. (NASDAQ: VIAV), Alluxa, Inrad Optics (OTCMKTS: INRD), Optics Balzers, Cascade Optical Corporation, Abrisa Technologies and Newport Corporation.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Optical Coatings Market – Global Demand Analysis & Opportunity Outlook 2027”, analyses the overall optical coatings industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global optical coatings market in the near future. Browse Complete Summary of this report
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