SAN FRANCISCO - The global market for optical coatings is expected to reach $19.70 billion by 2022, according to a new report by Grand View Research Inc. Growing demand for smartphones, tablets and high-resolution displays is expected to drive growth over the forecast period.
Rising utilization of consumer electronics coupled with technological advancement in this area is expected to augment demand over the next seven years. Optical coatings are used on glass surfaces used in a host of applications. Growing concern regarding energy efficient buildings has led to increased use of optical coatings in architectural glass. As per the LEED standards for green buildings, optical coatings play an important role in reducing energy consumption through thermal insulation and results in effective cooling and reduced costs. Favorable regulatory policies around the globe are expected to propel product demand in architectural glass applications over the forecast period.
The report suggests that the anti-reflective segment will grow at a CAGR of over 10 percent from 2015 to 2022 in terms of volume. Declining prices of smartphones and tablets, coupled with the emergence of new technologies offering improved user interfaces is expected to drive demand over the forecast period. Anti-reflective coatings are widely used in the optics and laser industries, which are expected to further propel growth over the next seven years.
Solar application is expected to witness significant development owing to increasing investment to set up power plants, particularly in emerging economies across the globe. In addition, government policies including incentives and subsidies to promote development of alternate energy sources are expected to increase product consumption over the forecast period.
North America accounted for over 30 percent of the global market in terms of revenue. Consumer demand for emerging technologies is expected to propel market growth. Continuous innovation and rising spending in the military and defense industry for applications including night vision cameras, beam attenuators and range finding is expected to augment growth.
Europe is expected to witness significant growth owing to rising use of optical coatings in automobile displays, car windows and headlamps. In addition, an increasing middle class population coupled with an increased need for affordable cars is expected to propel the market over the forecast period.
For additional information about the report, Optical Coating Market Analysis by Product (Systems, Tags), and Segment Forecasts To 2022, visit http://www.grandviewresearch.com/industry-analysis/optical-coatings
SAN FRANCISCO – The global market for optical coatings is expected to reach $19.70 billion by 2022, according to a new report by Grand View Research Inc. Growing demand for smartphones, tablets and high-resolution displays is expected to drive growth over the forecast period.
The rising use of consumer electronics is expected to augment demand over the next seven years. Optical coatings are applied on glass surfaces used in a host of applications. Growing concern regarding energy efficient buildings has led to increased use of optical coatings in architectural glass. As per the LEED standards for green buildings, optical coatings play an important role in reducing energy consumption through thermal insulation. Favorable regulatory policies around the globe are expected to propel product demand in architectural glass applications over the forecast period.
The report suggests that the anti-reflective segment will grow at a CAGR of over 10 percent from 2015 to 2022 in terms of volume. Declining prices of smartphones and tablets, coupled with the emergence of new technologies offering improved user interfaces, are expected to drive demand over the forecast period. Anti-reflective coatings are widely used in the optics and laser industries, which are expected to further propel growth over the next seven years.
Solar application is expected to witness significant development owing to increasing investment to set up power plants, particularly in emerging economies across the globe. In addition, government policies, including incentives and subsidies to promote development of alternate energy sources, are expected to increase product consumption over the forecast period.
North America accounted for over 30 percent of the global market in terms of revenue. Consumer demand for emerging technologies is expected to propel market growth. Continuous innovation and rising spending in the military and defense industry for applications including night vision cameras, beam attenuators and range finding are expected to augment growth.
Europe is expected to witness significant growth owing to rising use of optical coatings in automobile displays, car windows and headlamps. In addition, an increasing middle class population coupled with an increased need for affordable cars is expected to propel the market over the forecast period.
For additional information about the report, Optical Coating Market Analysis by Product (Systems, Tags), and Segment Forecasts To 2022, visit http://www.grandviewresearch.com/industry-analysis/optical-coatings-industry.
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