NEW YORK, July 25, 2022 /PRNewswire/ — According to the latest market research study published by P&S Intelligence, the anti-reflective coatings market in 2021 accounted for around $4,554.1 million revenue, which is predicted to hit $8,577.3 million by 2030, growing at a 7.3% CAGR from 2021 to 2030. This is due to the increasing usage of such coatings on lenses and eyeglasses. Moreover, owing to the increasing cases of vision impairment, as well as the growing aging population, the demand for anti-reflective coatings is surging.
Solar Panels Will Observe Fastest Market Growth
Solar panels will witness the highest CAGR in the coming years, due to the heavy usage of these coatings on solar panels to enhance their efficiency. This is itself due to the surging demand for low-priced solar cells with better reliability and durability, as well as the growing need to reduce the reflection off the photovoltaic surface.
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The electronic devices category accounts for an over 25% share in the anti-reflective coatings market. To increase the system throughput and lessen the possible consequences of reflections, which can go backward through the system, these coatings are increasingly being used on smartphone and tablet screens, display panels, and telecommunications systems.
Highest Revenue Contribution Comes from Vacuum Deposition
The largest revenue share of the anti-reflective coatings market, of over 35%, is accounted for by vacuum deposition. This is because anti-reflective coatings are frequently applied using this process as it has a low impact on the environment, is adaptable and inexpensive, and allows for the rapid setting of the coat.
During the forecast period, the sputtering technology is expected to experience the fastest rise in adoption because of its high mechanical and environmental durability, as well as improved accuracy and absorption. The use of these methods is heavily influenced by the production substrate, yield, cost, and coating type.
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- The aerospace industry’s growth and the rising demand for packaging in logistics are driving the APAC anti-reflective coatings market, which currently has over 35% revenue share. Moreover, APAC will continue to hold its dominant position in the coming years.
- According to estimates, Europe will have the third-fastest growth, which may be ascribed to its strong automotive manufacturing sector, significant public spending on eyecare, and rising acceptance of cutting-edge technology.
- North America also holds a significant share in the global market. The key factors driving the market are the existence of a significant number of well-established companies, rising consumer awareness of the advantages of coated eyeglasses, growing construction industry, increasing discretionary spending by consumers, and thriving automotive sector.
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