Optical Coating Equipment Market Growing at a CAGR of 4.6% to Reach $3,402 Million by 2023

Technological advancement in fabrication techniques has profound influence over the market growth of optical coating equipment.

PORTLAND, OR, UNITED STATES, October 26, 2021 /EINPresswire.com/ — The optical coating equipment market in Asia-Pacific is expected to grow at the attractive rate during the forecast period, owing to rise in demand for consumer electronics as well as growth in automotive and medical industry, thus fueling the market growth. Furthermore, rapid urbanization in countries, such as India, China, and Rest of Asia-Pacific, are expected to provide attractive business opportunities for the equipment manufacturers in the forecast period.

the optical coating equipment market was valued at $3,402 million in 2016, and is projected to reach at $4,611 million by 2023, growing at a CAGR of 4.6% from 2017 to 2023.

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The increase in scope of application for materials science and engineering across different industry verticals is expected to drive the demand for optical coating equipment. Also, the advancement in fabrication technology for applying thin-film optical coating has profound influence over the market growth and is subsequently the technological advancement is also expected to drive the market growth. However, the utilization of state-of-the art technology such as sputtering and ion deposition in the equipment has resulted in high costs of equipment installation and maintenance. Subsequently, is expected to hinder the market growth.

North America accounted for the major share of the global optical coating equipment market in 2016 owing to the increase in demand from military and aerospace industry. However, Asia-Pacific is estimated to grow at the highest rate followed by Europe due to rising demand from consumer electronics and automotive industries.

Key Market Players

Alluxa Inc.
Bühler Holding AG
Coburn Technologies Inc.
DuPont
Mastang Vacuum Systems LLC
Optimax Systems Inc.
Optorun Co. Ltd.
Optotech GmbH
Satisloh AG
Ultra Optics

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Key Market Segments

By Material

Reflective Coatings
Antireflective Coatings
Filter Coatings
Transparent Conductive Coatings
Others

By Technology

Evaporation Deposition
Ion Beam Sputtering
Advanced Plasma Reactive Sputtering

By End-User Industry

Medical
Solar
Electronics
Telecommunications
Automotive
Others

By Region

North America
Europe
Asia-Pacific
LAMEA

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David Correa
Allied Analytics LLP
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Source: EIN Presswire