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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- According to Transparency Market Research’s latest market report on the optical coating equipment market for the historical period of 2014-2018 and forecast period of 2019-2027, the growing demand for optical coating equipment from the automotive and electronics industries is expected to bolster the growth of the global optical coating equipment market during the forecast period.
- Globally, revenue generated by the optical coating equipment market is estimated to reach ~US$ 4.6 Bn in 2019, and expand at a CAGR of ~4% in terms of value throughout the forecast period.
Robust Growth in Automotive and Electronic Industries: A Key Driver
- Countries in Asia Pacific, North America, and Europe have seen tremendous increase in the demand for vehicles and electronic products in recent years, which has led to huge growth in the demand for optical-coated products, leading to the expansion of the optical coating equipment market.
- Optical-coated products offer features such as antireflective and filtering capabilities. They are also suitable for medical equipment, especially ophthalmic equipment and several electronic products.
- Continuous growth in the automotive industry has led to the increased demand for optical coating equipment.
- The medical equipment industry is a significant consumer of optical-coated products. Several equipment such as bio-medical devices need thin film sensors. The growing demand for these products will boost the demand for optical coating equipment.
Increasing Demand for ALD (Atomic Layer Deposition) and IBS (Ion Beam Sputtering)
- Evaporative technology dominated the optical coating equipment market across the globe. Low operational cost and compatibility with a wide range of applications are the major reasons for its dominance. However, the low coating quality is a drawback of this technology.
- Technical advancements in the coating technology are encouraging coating product manufacturers to adopt advanced technologies such as atomic layer deposition and ion beam sputtering for better accuracy and improvement in product quality. Plasma sputtering technology is anticipated to show significant growth during the forecast period, owing to higher accuracy than evaporative technology and lower production cost than other advanced technologies.
Extensive Usage in Scientific & Medical Devices and Renewable Energy Products
- Medical equipment is expected to grow at a rapid pace during the forecast period, which is anticipated to be a supportive factor for the growth of the optical coating equipment market. Also, the demand for renewable energy products, especially for solar equipment, is anticipated to surge in the coming years.
- Tremendous investments in R&D by several companies are projected to lead the demand for optically-coated products, and ultimately for optical coating equipment.
- Rising demand from the medical, solar, and R&D sectors is anticipated to drive the optical coating equipment market during the forecast period.
Optical Coating Equipment Market: Competition Landscape
- Detailed profiles of manufacturers of optical coating equipment have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies.
- Key players operating in the global optical coating equipment market include –
- Buhler Holding AG
- Cutting Edge Coatings GmbH
- Dongguan Huicheng Vacuum Technology Co., Ltd.
- Dynavac
- Evatec AG
- Optorun Co., Ltd.
- OptoTechOptikmaschinen GmbH
- Satisloh
- scia Systems GmbH
- Shincron Co. Ltd.
- Solayer GmbH
- VON ARDENNE GmbH
Optical Coating Equipment Market: Key Developments
Key manufacturers in the optical coating equipment market such as Buhler Holding AG are strengthening their overseas sales structure by increasing their production capacities. Other key developments in the optical coating equipment market are as follows:
- In June 2018, Buhler AG acquired Sputtering Components Inc. based in Owatonna, Minnesota, the U.S. Sputtering Components provides components and sub-assemblies for large-area vacuum coating systems in the U.S. Sputtering Components Inc. has 40 full-time employees.
- In February 2015, Evatec AG completed the acquisition of the Advanced Technologies segment of OC Oerlikon Corporation AG. At the time of this acquisition, the Advanced Technologies segment had 200 employees who were absorbed by Evatec AG.
In the global optical coating equipment market report, we have discussed individual strategies, followed by company profiles of manufacturers of optical coating equipment. The ‘Competitive Landscape’ section is included in the optical coating equipment market report to provide readers with a dashboard view and a company market share analysis of the key players operating in the global optical coating equipment market.
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