Global anti reflective coatings market size was estimated at over 320 kilo tons in 2013 and is likely to reach above 500 kilo tons by 2023: Global Market Insights, Inc.
Global anti reflective coatings market size was estimated at over 320 kilo tons in 2013 and is likely to reach above 500 kilo tons by 2023. This market is likely to grow with an estimated CAGR of above 6% up to 2023. This market was worth above USD 2.5 million in 2013 and is likely to be worth more than USD 5 million by 2023.
Increase in protective coatings market demand from end-use industries such as automobile, electronics, eyewear, and telecommunications and solar is likely to drive anti-reflective coatings market.
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Eyewear market applications accounted for more than 35% of the total demand in 2014. This application is likely to witness steady growth rates up to 2023 owing to growing importance of wearing high light transmitting lenses and glasses. These products on the glasses offer optimum comfort level by reducing bright sunlight glare and also help in eliminating unwanted reflections and adjust surrounding contrast levels which enhance visibility & helps in providing better night driving experience. Anti-reflective coatings spray is also used in eyewear applications.
Increasing installation of solar panels owing to conserve energy owing to depleting conventional resources is likely to favor anti-reflective coatings market growth. Government in various countries such as France, India and China are forming policies to offer financial incentives for installing solar power system to counter threat arising from energy crisis. Any light reflected from solar panel is light wasted. Application on solar panels helps in delivering better light transmission and curtails light reflection.
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Asia Pacific anti-reflective coatings market is likely to witness highest gains over the forecast period. Government policies to install solar projects in the form of solar water pumps to replace diesel pumps for irrigation and also generate electricity particularly in China, India and Bangladesh is likely to favor demand. Growth in automobile production in Thailand and Indonesia is also likely to support growth. Asia Pacific represents the manufacturing hub, particularly with the presence of domestic Chinese manufactures.
Middle East & Africa and Latin America anti reflective coatings markets are also likely to witness significant growth rates owing to booming eyewear industry coupled with growth in solar power project initiatives by government of various regions such as Brazil, South Africa and UAE.
The global anti reflective coatings market share is moving towards consolidation as this industry is witnessing frequent mergers & acquisitions between large scale and small scale industries. Small & medium size enterprises find themselves difficult to sustain under tough economic conditions. Key companies operating in this market include Royal DSM, Honeywell International, Carl Zeiss and PPG Industries. Other prominent manufactures include JSD Uniphase Corp, Optical Japan, Hoya Corporation and Essilor International.