Portland, OR -- (SBWire) -- 10/27/2017 --Global optical coating market size was valued at $7,794 million in 2015, and is expected to grow at a CAGR of 6.6% to reach $12,351 million by 2022. Optical coating is an amalgamation of thin layers of films that produce interference effects to improve transmission and reflection properties of an optical system.
Optical coating exhibits various characteristics such as optically transparent chemical resistance, abrasion resistance, UV resistance, anti-static, anti-glare, and anti-fog properties. These coatings are utilized in glasses, lenses, solar panels, digital signage, TFT & LED screens, and other engineering components. The performance of an optical coating material depends on factors such as number of coating layers, thickness of individual layers, and difference in refractive index at the layer interface.
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Vacuum deposition technology was the largest revenue generator in 2015, as this technology is a surface engineering treatment used to deposit layers of coating material atom by atom on the optical substrate. The technology puts coating materials into vapor state, where the process of obtaining vapors from liquid or solid source is called physical vapor deposition. On the other hand, the process wherein the vapors are obtained from the chemical reaction is called chemical vapor deposition. The process is environmentally friendly, as it is carried out under vacuum. The technique is applicable for coating magnetic films, semiconductors devices, mirrors, solar panels, and others.
Key findings of Optical Coating Market:
* The electronics & semiconductor segment occupied the highest share in 2015, and is expected to grow at a CAGR of 6.6%, in terms of value, during the forecast period.
* North America is the leading consumer of optical coating, accounting for approximately more than one-third share of the global market, followed by Asia-Pacific.
* The filter type optical coating segment is expected to witness the highest CAGR of 8.4%.
* Vacuum deposition technology segment accounted for more one-third of the global optical coating market in 2015.
* U.S. is the leading market for optical coating in the North American region, growing at a CAGR 7.0%.
The prominent players profiled in this report include E.I. Dupont De Nemours company, PPG Industries, Zeiss Group, Nippon Sheet Glass Co., Ltd., Abrisa Technologies, Newport Corporation, Inrad Optical, Inc., Reynad Corporation, Artemis Optical Ltd., and II-VI Optical Systems.
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Optical Coating Market Is Set to Boom in Coming Years
Increased application of optical coatings in solar cells is expected to offer major opportunities to the global optical coating market.