Anti-Reflective Coatings - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Anti-Reflective Coatings Market size is estimated at USD 5.30 billion in 2024, and is expected to reach USD 7.16 billion by 2029, growing at a CAGR of 6.22% during the forecast period (2024-2029).

Due to specific rules and regulations imposed by countries, there was a slowdown in the market demand from various sectors during the pandemic in 2020. 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.

Key Highlights

• Additionally, the high cost of anti-reflective coatings is restraining its growth in some applications.
• The development of thin-film fabrication technologies is a significant opportunity for the market studied.
• The Asia-Pacific is expected to dominate the anti-reflective coatings market, and it is anticipated to be the fastest-growing market over the forecast period.

Anti-Reflective Coatings Market Trends

Increasing Demand from Eyewear Application

• 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, a condition in which the eye's lens stiffens with age making it difficult to read at a close range.
• According to the US Department of Health & Human Services, nearsightedness occurs in about 23.9% of the population over 40 years old (about 34 million people) in the United States.
• According to the WHO, as of October 2022, around 2.2 billion people have near or distant vision impairment across the globe. Moreover, global costs of productivity losses associated with vision impairment are estimated to be USD 411 billion.
• This is likely to enhance the demand for respective eye lenses while addressing these impairments, further enhancing the demand for anti-reflective coatings in the country.

China to Dominate the Asia-Pacific Region

• The Asia-Pacific region dominated the global market due to the growing demand for semiconductors, electronics, and other manufacturing operations.
• China is one of the leading manufacturers of solar cells in the world. China is ambitious to be carbon-neutral by 2060, and the latest five-year plan in 2020 outlines that the annual solar power generation capacity installations should increase by around 85 GW, nearly twice the country's current rate. Moreover, the majority of solar cells across the world are manufactured in China or by Chinese companies.
• China has the world's largest electronics production base, which includes electronic products, such as smartphones, TVs, wires, cables, portable computing devices, gaming systems, and other personal electronic devices, and recorded the highest growth in the electronics segment. The country serves the domestic demand for electronics and exports electronic output to other countries.
• China is one of the leading producers of smartphones in the region. However, smartphone manufacturers shifting their base from China is affecting the market studied. Many global manufacturers have shifted their base outside China.
• Thus, due to the abovementioned factors, China is expected to dominate the market in the Asia-Pacific region.

Anti-Reflective Coatings Industry Overview

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

Additional Benefits:

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