DUBLIN, May 2, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/bc548c/optical_coating) has announced the addition of the "Optical Coating Market by Technology, (IAD, E-Beam Evaporation, Sputtering Process and Vacuum Deposition), by Type, End-Use Industry & by Region - Trends and Forecasts to 2020" report to their offering.
The global optical coating market size, in terms of value, is projected to reach USD 10.17 Billion by 2020, at a CAGR of 7.1% between 2015 and 2020.
The increasing number of patents filed for optical coatings components & applications by global players, growing manufacturing industries, technological advancements, continuous product launch & development, expansion and merger & acquisition activities undertaken by companies are key factors for the growth of the global optical coating market.
The sputtering process is projected to be the fastest-growing technology of optical coatings between 2015 and 2020. The increasing demand for cost-effective film coatings such as anti-reflective coatings, and filter coatings in biomedical, laser, and defense industries are key factors that are fueling the growth of sputtering process in the optical coatings technology market.
Filter coatings are projected to register the fastest-growth among other types followed by transparent conductive coatings in the global optical coating market. The demand of filter coatings is mainly driven by its ability to provide high performance and environmentally stable coatings in end-use industries such as solar, biomedical, defense, aerospace, and sensors.
Solar is the fastest-growing end-use industry segment in the global optical coating market. Anti-reflective coatings and filter coatings are the highly preferred types of optical coatings in the solar industry. The growing demand thermally controlled coating solutions for sensitive detectors, solar panel& cells, and increasing investments in the solar industry are key factors leading to a fast growth of solar applications in the optical coatings end-use industry market.
North America was the largest market for optical coatings, in terms of value, in 2014. The growing demand of non-toxic and eco-friendly optical coating materials in semiconductor & circuit assembly, sensing applications, laser systems, and aerospace applications have led to the growth of optical coatings in this region.
Asia-Pacific is projected to register the high CAGR in the optical coating market, in terms of value between 2015 and 2020. This growth is majorly driven by a growing demand for advanced and sophisticated electronic devices such as smartphones, LCDs, and computers. Rising investments by foreign companies; growing production facilities; and rise in standard of living are the other major factors contributing the growth of optical coatings market in this region.
Though the optical coating market is gaining importance at a fast pace, few factors act as a bottleneck towards the growth of optical coatings in the global coatings market. The volatility in optical coatings raw material prices owing to stringent environment regulations and VOC emission restrictions are the major restraints toward the growth of the market.
The companies such as DuPont (U.S.), ZEISS Group (Germany), PPG Industries (U.S.), Newport Corporation (U.S.), and Nippon Sheet Glass & Co., Ltd. (Japan) are the dominant market players in the global optical coating market.
For more information visit http://www.researchandmarkets.com/research/bc548c/optical_coating
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SOURCE Research and Markets