The new report by Expert Market Research titled, ‘Global Anti-Reflective Coatings Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global anti-reflective coatings market, assessing the market based on its segments like applications, technologies, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 3.4 Billion
- Forecast CAGR (2023-2028): 8.90%
- Forecast Market Size (2028): USD 5.7 Billion
The increasing application of anti-reflective coatings in electronic devices and the growing utilisation of it are driving the growth of the anti-reflective coatings industry. They are used in computer screens, television, smartphone screens, and other displays such as automotive windscreens to reduce glare, better vision, and image quality. In addition, the increasing cases of eyesight problems, such as refractive errors and the rising uses of lenses, are also contributing to the steady growth of the anti-reflective coatings industry.
The anti-reflective coatings are applied on lenses to reduce eye strain, optimise visual acuity, and improve vision. The emerging need for non-conventional energy resources and the application of anti-reflective coatings in solar panels to increase the amount of light absorbed in the cell is likely to aid the market in the forecast period.
Industry Definition and Major Segments
Anti-reflective coatings, also called AR coatings or anti-glare coatings, are transparent thin-film structures applied on the surface of the optical lens or other optical surfaces to obstruct reflection. It is used in various applications, such as cameras, microscopes, telescopes to improve the quality of images by reducing reflections.
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The anti-reflective coatings industry, by application, is divided into
- Eyewear
- Electronics
- Solar
- Automotive
- Others
Based on technology, the industry can be segmented into:
- Electron Beam Evaporation
- Sputtering
- Others
Market Trends
The government initiatives to set up non-conventional energy sources, like solar panels, is leading to the increasing utilisation of anti-reflective coatings, thus propelling the market growth. In 2019, scientists at the R&D Centre of the Department of Science and Technology (DST), Govt. of India, developed a bi-lateral and scratch-resistant anti-reflection coating on glass and silicon wafer substrates to improve the conversion efficiency of solar thermal systems.
The efforts taken by the industry players in launching new products and escalating their market potential are leading to the incremental development of the anti-reflective coatings industry. For instance: in May 2020, VSP Optics introduced TechShield®, an anti-reflective coating with anti-bacterial technology. It is certified by the International Organisation for Standardisation, and the product provides exceptional visual performance, improved scratch and smudge resistance, greater cleanability, and defence against blue light and UV. Further, the research activities conducted to enhance the long-term functionality and durability of anti-reflective coatings are expected to bolster the industry in the forecast period in the forecast period.
Key Market Players
The major players in the market are iCoat Company LLC, PPG Industries, Rodenstock GmbH, Janos Technology Inc., and Cascade Optical Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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