Antireflective Coatings Market to Register USD4.9 Billion by 2022
Antireflective Coatings Market Outlook 2019-2026:
Global
Antireflective
Coatings Market key players are Essilor
International, Carl Zeiss AG, E. I. du Pont de Nemours and Company, Koninklijke
DSM N.V., Honeywell International, PPG Industries, Hoya Corporation, Viavi
Solutions, Inc., Optical Coatings Japan, and Rodenstock GmbH.
Antireflective Coatings Market is expected to garner $4,858 million by 2022, registering a
CAGR of 8.2% during the period 2016 - 2022. Based on application, automobile
and solar panel are expected to show highest growth rates throughout the
forecast period.
The global antireflective
coatings market is expected to grow at a significant rate during the forecast
period owing to rise in adoption of antireflective coatings by eyewear &
photovoltaic industries and increase in awareness about importance of
antireflective coatings in optical glasses In audition, increase in the energy
efficiency of solar panels by using antireflective coatings has supplemented
the market growth. However, high costs associated with products is a major
restraint of this market. Moreover, innovation in the existing technologies of
application serves as a great opportunity for expansion of the antireflective
coatings market.
The antireflective coatings
market is expected to show high growth rate in developing economies of the
Asia-Pacific region. This is attributed to the vast adoption of emerging
technologies such as antireflective coatings and smart glass in automotive
sectors, especially in India and China. Moreover, surge in adoption of
antireflective coatings in the photovoltaic industry in countries such as
Brazil and Argentina drives the growth of the market. Increase in installation
of solar panels in these counties have further accelerated the market growth.
Eyewear segment dominated the market in 2015, accounting for over one-third of
the share.
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Key findings of
Antireflective Coatings Market
- North America dominated the global
antireflective coatings market in 2015, accounting for maximum of the
share, both in terms of revenue and volume.
- In 2015, antireflective coatings used in
eyewear accounted for majority of the share, and is expected to maintain
its lead throughout the forecast period.
- Turkey is expected to show the highest
growth rate in the European antireflective coatings market, registering a
CAGR of 10.1%.
- In 2015, the vacuum deposition technology
market accounted for maximum, and is expected to maintain its lead,
growing at a CAGR of 7.7%.
- Asia-Pacific is expected to grow at the
fastest rate, registering a CAGR of 9.2%.
In 2015, North America antireflective
coatings market generated the highest revenue, and is expected to offer lucrative
opportunities to market players, owing to increase in demand for these coatings
in the eyewear segment. Rise in awareness about the coatings in eye glasses to
enhance visibility has resulted in growth of production in the U.S.
Asia-Pacific is projected to show highest growth rate throughout the forecast
period owing to the development of automotive industry in the developing
economies.
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