Optical Coating Equipment – High Maintenance Cost Could Impede Steady Adoption Rate
The optical coating equipment landscape has reached a juncture with a multitude of changing dynamics, and a majority of them portend promising growth. According to a new report published by Transparency Market Research (TMR), the optical coating equipment market was valued at ~US$ 4.4 Bn in 2018, and will arrive at a value tantamount to ~US$ 6.4 Bn in 2027, representing a modest CAGR of ~4% during the period of 2019-2027. Continuous headways in fabrication technology, fostering the development of sophisticated optical coatings, irrespective of the curvature surface, are projected to have a profound influence on the landscape.
Since the demand for anti-reflection coatings is witnessing an upsurge, market players tend to leverage the prowess of R&D activities to offer better coating solutions, and gain a competitive edge in the optical coating equipment landscape. However, cost-prohibitive maintenance of optical coating equipment in end-use applications could impede the otherwise average growth strides of the market during the forecast period.
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Popularity of Plasma Sputtering to Grow as End Users Prefer Precision Over Cost-efficiency
Currently, the dual quest of manufacturers for ‘cost-efficiency’ and ‘technological prowess’ is highly reliant on evaporative technology, which leads the batch with a market share of ~35%. However, the challenges apropos of coating will require accurate, faster, and more flexible approaches to incorporate optical coatings in high-end applications, including medical, military and defense, and aerospace, thereby representing lucrative prospects for plasma sputtering technologies in the future.
Another key finding of the report narrows down to the steady adoption rate of optical coating equipment for electronics, automotive, and medical applications. There has been a spurt in the adoption of optical coating equipment for enhancing properties such as sturdiness, reflectivity, transmission, and damage threshold in consumer electronics. On top of that, a massive uptake in the development and sales/purchase of vehicles has created a remunerative scope for optical coating equipment.
With thriving automotive and electronics industries in the region, Asia Pacific will remain a crucial region for manufacturers to achieve long-term profitability. Beside the proliferated adoption of optical coating equipment in the region, major players concentrated in the region will further complement the lead of Asia Pacific, and the regional market will account for ~one-third of the global market share by 2027.
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Opportunity Analysis for Market Players
The optical coating equipment market is a highly technology-intensive market, entailing market players to invest in thin-film coating technological skills. Fluctuations in the prices of raw materials used for the development of optical coating equipment, in turn, have an imminent impact on the cost of finished products. Moreover, merely setting up a business in the industry requires a high working capital, which creates an entry barrier for new players. This implies that the threat from new entrants is low, and market players need to consolidate for business success.
Since the entire production cycle relies on the availability of raw materials, market players can reap the benefits of consistent supply of raw materials by collaborating with suppliers. Furthermore, market players need to have an appetite for constant technological reforms, when it comes to the outcome of their products, as high-end medical, automotive, and military applications demand utmost precision.
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