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. Asia-Pacific is expected to be the leading contributor to the global optical coating equipment market, followed by Europe and North America.
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 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.
In 2016, the evaporation deposition, accounted for the maximum revenue share in the overall optical coating equipment market by technology owing to their lower cost of operations and large production capabilities. However, the ion beam sputtering is expected to provide profitable opportunities to the manufacturers owing to their precision high quality optical coating abilities across different curvatures. The electronics segment is expected to grow at a fastest CAGR of 5.21% owing to increase in demand for consumer electronics globally. Moreover, the medical and automotive end users in the optical coating equipment market is also expected to generate attractive business opportunities during the forecast period (2017-2023).
Get the sample copy @ https://www.alliedmarketresearch.com/request-sample/3133
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.
The key players profiled in the optical coating equipment market include Andersen Corporation, Alluxa Inc., Bhler Holding AG, Coburn Technologies Inc., DuPont, Mastang Vacuum Systems LLC, Optimax Systems Inc., Optorun Co. Ltd., Optotech GmbH, Satisloh AG, and Ultra Optics. Market players have adopted various strategies such as product launch, collaboration & partnership, and acquisition to expand their foothold in the market.
The optical coating equipment provide assistance in the application of thin-film optical coatings over the target materials. The optical coatings enhance the reflective, antireflective, dichroic, and optical glare capabilities of the target materials on which the coating is applied. Currently, out of the available coating equipment type by technology the evaporation deposition holds the largest share of the global market. However, the ion beam sputtering is expected to provide profitable lucrative CAGR growth during the forecast period owing to their lower coat of operations and ability to furnish sophisticated optical coating across different curvatures. In addition, the increase in scope of application for optical coatings across various end users is also anticipated to drive the growth of this market during the forecast period.
Based on region, the North America accounts for a major market share in the global optical coating equipment market in 2016, owing to high demand from aerospace, military, medical, and other end users. However, Asia-Pacific is expected to exhibit the highest growth rate of 5.65% during the forecast period owing to rise in demand form consumer electronics and automotive industries.
The advancement in fabrication technology drives the demand for optical coating equipment across different end-user industries. As a result, the solar, aerospace, consumer electronics and military industries are expected to provide profitable business opportunities for equipment manufacturers.
Buy this report @ https://www.alliedmarketresearch.com/checkout/95975