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Global Anti-Reflective Coatings Market to Grow at a CAGR of 8.90% During 2022-2027, Driven by the Rapid Adoption of Anti-Reflective Coatings in the Solar Panel Industry

According to a new report by EMR titled, ‘Global Anti-Reflective Coatings Market Report and Forecast 2022-2027’, the market attained a value of about USD 3.4 billion in 2021. The industry is further expected to grow at a CAGR of 8.90% in the forecast period of 2022-2027 to reach a value of around USD 5.7 billion by 2027.

The global market for anti-reflective coatings has been growing considerably, owing to the heightened demand for advanced coating processes used in order to achieve precision in deposition. The anti-reflective coatings are used in high-end applications including military and defence, telescopes, and aerospace. The growth of the market can be attributed to factors such as increase in usage of anti-reflective coatings in construction activities, surge in the demand for anti-reflective lens, and rapid developments in the eyewear and photovoltaics industry. In addition, the technological advancements in the field of fabrication and deposition techniques, and the growing usage of anti-reflective coatings in display and touchscreen digital devices, such as tablets, smartwatches, and smartphones, are expected to drive the market in the forecast period. Additionally, the rapidly increasing consumer demand for electronics and eyewear is also expected to contribute to the market growth. Moreover, in an endeavour to combat the energy crisis and the rising issues of global warming, the governments across the globe are providing financial incentives to companies manufacturing solar power systems. The rapid adoption of anti-reflective coatings by the solar panel industry and the rapid development of the automobile sector are expected to significantly contribute to the growth of the market in the forecast period.

In July 2017, PPG Industries (NYSE: PPG) announced that the company had reached a definitive agreement to acquire the Crown Group, a U.S. based coatings application services business, from High Road Capital Partners and Charter Oak Capital Partners. The Crown group is one of the leading component and product finishers in North America. The company applies coatings to customers’ manufactured parts and assembled products at 11 U.S. sites. This acquisition will support PPG Industries’ expansion in the anti-reflective coating industry.

Market Analysis by Application, Technology, and Region:

  • The market, on the basis of application, can be divided into eyewear, electronics, solar, and automotive, among others.
  • Based on technology, the industry can be divided into electron beam evaporation, and sputtering, among others.
  • The regional markets for anti-reflective coatings include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for anti-reflective coatings is being driven by the growing usage of anti-reflective coating for display applications in digital devices, such as mobile phones, tablets, and laptops.
  • The industry is receiving a further impetus with the rapidly increasing demand for electronics and eyewear, and the growing construction sector.
  • The rise in demand for anti-reflective lenses is expected to further propel the market growth.
  • The rapid adoption of anti-reflective coating in the solar panel industry has significantly contributed to the market expansion.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for anti-reflective coatings for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the applications, technologies, and regions of anti-reflective coatings.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global anti-reflective coatings market are iCoat Company LLC, PPG Industries, Rodenstock GmbH, Janos Technology Inc., and Cascade Optical Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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