An optical coating is thin layer (s) on optical devices like mirrors and lenses. Optical coating has multiple layers on the end user products. Optical coating contains metallic material and dielectric including titanium and silicon oxide and aluminum.
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The optical coatings market has shown a compelling growth in the past and is expected to reach around 9% CAGR globally. Growing demand in electronics, infrastructure, defense and security and transportation owes to increase in the demand for the optical coatings market. Whereas, governmental regulations and price volatility of raw materials is likely to hamper the optical coating market.
The optical coatings market can be split on the basis of applications, products and geography. Infrastructure, electronics, defense and security, medical and solar are major applications driving the demand.
Infrastructure, electronics and defense dominated the market and expected to register a exponential growth over the forecast period. Whereas, solar and medical sector showed steady growth, and likely to fuel up the market over the next five years.
On the basis of product, market is fragmented as filter coatings, transparent electrodes, anti reflective and reflective coatings. Anti reflecting, filter and reflective coating products showed a vital growth in the optical coatings market.
North America was the largest consumer of optical coating and been followed by Europe, Asia pacific and rest of the world. India and China are creating new growth opportunities owing to increasing demand for infrastructure and electronics. The optical coatings market valued around USD 9 billion in 2013 and expected to grow around USD 14 billion by 2018.
Information Source: Grand View Research