Anti-Reflective Coatings Market To Generate Revenue worth $8,577.3 Million by 2030

The global anti-reflective coatings market is projected to generate $8,577.3 million revenue in 2030, advancing at a CAGR of 7.3% during 2021–2030. This can be attributed to the surge in the demand for such materials in various industries, such as electronics, eyewear, and construction. Moreover, the rising investment by governments for the usage of non-conventional sources to produce energy will boost the market growth.

Solar Panels Generate Majority of Revenue in Market

Solar panels will witness the fastest advance in the anti-reflective coatings market over this decade. This can be attributed to the rising installation of solar panels around the world due to the increase in the need to reduce the reliance on fossil fuels and, yet, meet the growing demand for electricity, by utilizing renewable resources.

Eyewear application, which accounted for a revenue share of over 20% in 2021, will be the third-fastest-growing category over this decade. This can be attributed to the rising prevalence of vision disorders, including myopia and hyperopia, which creates a massive demand for these coatings in products that need to be highly transparent, such as spectacles and lenses.

Geographically, North America held the second-largest revenue share in 2021 in the market. This can be ascribed to the large manufacturing base and rising usage of such coatings in consumer electronics, including tablets, smartphones, smartwatches, and cameras. Moreover, the North American eyewear sector offers tremendous opportunities due to the high number of undiagnosed cases of vision problems, especially nearsightedness.

APAC accounts for the highest revenue contribution to the market, because of the increasing demand for packaging in the logistics industry and expanding aerospace industry. Additionally, countries such as China, India, and South Korea are the leading electronic product manufacturers. And, since the major application of these coatings is electronics products, the regional market continues to grow.

Strategic Developments of Key Players in Market

Collaborations, partnerships, acquisitions, facility expansions, and product launches are the major strategic developments in the anti-reflective coatings market. For instance, in February 2021, the optical security and performance products (OSP) segment of VIAVI Solutions Inc. announced that it intends to construct a new factory in Chandler, Arizona.

Similarly, in October 2020, Mitsui Chemicals Inc. announced that its group company SDC Technologies Inc. has acquired COTEC GmbH, which develops and sells hydrophobic and anti-reflective coatings.

Some of the major players in the market are DuPont de Nemours Inc., Optical Coatings Japan, Carl Zeiss AG, Essilor of America Inc., HOYA Corporation, iCoat Company, Honeywell International Inc., and VIAVI Solutions Inc.