Anti-Reflective Coatings Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Anti-Reflective Coatings Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The anti-reflective coatings market is estimated to be valued at USD 4695.53 million in 2022, and it is estimated to register a CAGR greater than 6% during the forecast period.

Due to COVID-19, there was a slowdown in the market demand from various sectors in 2020 due to certain rules and regulations being imposed by countries. However, the industry witnessed a recovery in 2021, thus, rebounding the demand for the market studied.

• The major factors driving the market studied are increasing demand for eyewear and electronics applications.
• Additionally, the high cost of anti-reflective coatings is restraining its growth in some applications.
• The upcoming demand for electric vehicles and the solar industry, and the development of thin-film fabrication technologies are some of the major opportunities for the market studied.
• Asia-Pacific is expected to dominate the global anti-reflective coatings market and is also forecasted to be the fastest-growing market over the forecast period.

• Anti-reflective glasses are affordable alternatives to reduce glare reflected from computer screens, televisions, flat panels, and other electronic displays.
• Anti-reflective coatings are used to reduce glare and provide low reflectivity. As a result, displays are easier to read, eye strain is reduced, and visual insight is increased.
• The demand for progressive lenses has grown rapidly as more people suffer from presbyopia, which is a condition in which the eye's lens stiffens with age making it difficult to read at close range. In March 2021, KITS announced that the company would start offering ultra-thin digital progressive lenses to customers on all its web properties. Such product launches increased the consumption of anti-reflective coatings.
• According to United States Department of Health & Human Services, nearsightedness occurs in about 23.9% of the population over 40 years old (about 34 million people) in United States.
• According to WHO, as of October 2021, around 2.2 billion people have a near or distance vision impairment across the globe.
• Such a figure is likely to enhance the demand for respective eye lenses during addressing these impairments, which will further enhance the demand for anti-reflective coatings in the country.

• The Asia-Pacific region dominated the global market due to the growing demand for packaging in logistics, the growing aerospace manufacturing industry, and other manufacturing operations.
• China is the largest base for electronics production in the world. Electronic products, such as smartphones, TVs, wires, cables, portable computing devices, gaming systems, and other personal electronic devices recorded the highest growth in the electronics segment. The country serves not only domestic demand for electronics but also exports electronic output to other countries.
• Moreover, Semiconductor Manufacturing International Corporation (SMIC) is an advanced manufacturer of chips and semiconductor devices in the country. However, due to the lack of technical assistance from United States and South Korea, the company is only able to 14-nanometer chips and announced its plans to produce 7-nanometer chips. While there is a growing demand for 5-nanometer chips, the country is lagging behind the production of such chips.
• China is one of the leading producers of smartphones in the region. However, the smartphone manufacturers shifting their base from China is affecting the market studied. Many global manufacturers have shifted their base outside China.
• Due to all the above-mentioned factors, China is expected to dominate the market in the Asia Pacific Region.

The anti-reflective coatings market is fragmented. Some of the major players (Not in any particular order) include DuPont, PPG Industries Inc, Hoya Vision Care Company, Zeiss International, and Essilor, among others.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support