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    Abrasion Resistant Optical Clear Coatings Market Size Forecast to Reach $9.2 Billion by 2026
    (I-BusinessNews.Com, April 27, 2021 ) Abrasion Resistant Optical Clear Coatings Market size is forecast to reach $9.2 billion by 2026, after growing at a CAGR of 6.6% during 2021-2026. Recent advancements in technology in the field of optical deposition techniques and fabrication coupled with the increasing demand for efficient optical devices in various end-use industries are expected to drive the market over the forecast period. In addition, abrasion resistant optical clear coatings will not be scratched when being cleaned, unlike an uncoated Polycarbonate surface which scratches very easily, and when testes with calo tester abrasion resistant optical clear coatings seem to be a thin film coating, thus, gaining momentum. Abrasion-resistant optical clear coatings are increasingly used in a wide range of applications, including architecture, consumer electronics, solar panels, automotive, medical, telecommunications, and military and defense industry. The rapid growth of the solar PV market, driven by a growing focus on clean energy generation and increasing demand for consumer electronics is expected to drive the growth of the market over the forecast period.



    COVID-19 Impact



    The COVID-19 pandemic outbreak is having a huge impact on various industries such as automotive, electronics, and so on. There is a delay in imports and exports of electronic items due to the import-export restriction by the governments in various regions. Besides, the production of automobiles has been disruptively stopped, contributing to a major loss in the total automotive sectors. According to the European Automobile Manufacturers Association, In June 2020, demand for new commercial vehicles across the EU remained weak (-20.3%), although the rate of decline slowed compared to April and May. Three out of the four largest markets in the region posted double-digit percentage declines last month: Germany (-30.5%), Spain (-24.2%), and Italy (-12.8%), while France recorded a modest increase (+2.2%). The declining operations in these industries are affecting abrasion-resistant optical clear coatings demand.



    Abrasion Resistant Optical Clear Coatings market Segment Analysis - By End-Use Industry



    The electronics industry held the largest share in the Abrasion Resistant Optical Clear Coatings market in 2020 and is growing at a CAGR of 5.68% owning to rapidly growing demand for smartphones and rising consumer disposable income. In addition, technological innovation in the field of smart TVs and smart consumer devices, including smartwatches and smartphones is further having a positive effect on market growth. Abrasion-resistant optical clear coatings are widely used in the electronics industry owing to the rising demand for superior optical display and impact resistance properties and it does not get scratched when being cleaned unlike any uncoated Polycarbonate. The growing semiconductor industry, coupled with technological advances, is expected to increase the demand for these optical coatings over the forecast period. However, a reduction in discretionary spending in COVID-19 across the globe has an impact on demand for consumer electronic products. .This, in turn, is also limiting the abrasion resistant optical clear coatings demand in this sector.



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    Abrasion Resistant Optical Clear Coatings market Segment Analysis - By Geography



    Europe held the largest regional share in the abrasion resistant optical clear coatings market in 2020 up to 34%. Demand in this region is driven by the increasing solar industry and an increased focus on developing domestic industries. A rise in the UK defense budget provides a strong growth opportunity for aerospace and defense reflective coating products. For medium-scale and small-scale medical equipment firms, Europe is a major production center, which is further influencing the demand for abrasion resistant optical clear coatings over the forecast period. Moreover, the strong presence of industries such as instrumentation, microelectronics, biotechnology, and software development, as well as developments in the medical devices market, would eventually lead to increased demand over the forecast period for abrasion resistant optical clear coatings. In addition, Due to the outbreak of COVID-19 at the community level, the continuously growing patient population is expected to raise the demand for medical components, thereby increasing the demand for abrasion resistant optical clear coatings in the region.



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    Abrasion Resistant Optical Clear Coatings Market Drivers



    Increasing demand from the automotive industry



    Abrasion resistant optical clear coatings are used in the automotive industry in the display of speedometers due to high impact resistance and abrasion resistance. The increased use of abrasion resistant optical clear coatings in a number of automotive components, including gear knob tops, car windows, windshields, and headlight lenses, is driving the market growth. According to International Trade Administration (ITA), China is the world’s largest vehicle market. The Chinese government is expecting that automobile output will reach 35 million by 2025. According to OICA, in 2018 the production of light commercial vehicles and heavy trucks increased by 5.9% and 3.5% up to 20,635,799 and 4,227,815 from 2017. In addition, according to International Energy Agency, in 2018, 3.29 million electric vehicles deployed globally and the number will increase up to 125 million by 2030. This growth in the production of automotive is expected to influence abrasion resistant optical clear coatings market growth.



    Excellent properties of abrasion resistant optical clear coatings



    More specifically, hard coatings or anti-scratch coatings are called abrasion-resistant coatings. When tested with calo tester, abrasion resistant optical clear coatings are thin-film optically transparent coatings that significantly enhance the properties of decorative and functional plastic components. These coatings are highly flexible and durable, which ensures that they can be applied without the risk of crazing to products with low flexural strength. Also, they resist chemicals and solvents. The main advantage of these coatings is their low surface energy. This leads to resilience to the pickup of dirt. Such durability is highly desirable for decorative and practical components such as light lenses and exterior fixtures. These coatings are so smooth that they minimize the build-up of dirt and grime on the covered surface. Usually, by reducing light scatter, they can boost light transmission by up to 10 percent. And their excellent chemical resistance ensures it is possible to clean the coated surface with ease and does not get scratched when being cleaned, unlike any uncoated Polycarbonate. These properties are attracting consumer’s attention, and thus acts as a driver.



    Abrasion Resistant Optical Clear Coatings Market Challenge



    Fluctuating Raw Materials Prices



    One of the main factors affecting abrasion resistant optical clear coatings is the price instability of raw materials. This leads to a decline in efficiency for producers and raises the market cost of optical coatings, thus limiting the growth of the market. Although metal prices have experienced a declining trend over the past few years, sudden price fluctuations can have a negative effect. Changes in the price of precious metals used in high-end applications, in particular gold and platinum, have a huge effect on the overall cost of the application, thus influencing the market for abrasion resistant optical clear coatings. In addition, the recent COVID-19 outbreak has hindered the market for abrasion resistant optical clear coatings in various applications, including automotive, telecommunications, aerospace and defense, and architecture, owing to stalled production activities, supply, and transport constraints, and economic slowdown across the globe.



    Abrasion Resistant Optical Clear Coatings Market Landscape



    Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Abrasion Resistant Optical Clear Coatings Market. Major players in the Abrasion Resistant Optical Clear Coatings market includes AkzoNobel N.V., Saint-Gobain, Jotun A/S, The Sherwin-Williams Company, Hempel A/S, Praxair Surface Technologies, Henkel and Sika AG.,among others.



    Key Takeaways



    Europe dominates the abrasion resistant optical clear coatings market, owing to the flourishing electronics industry in the region.



    The increasing use of reflective coatings for heat retention and reducing energy usage in green buildings is anticipated to push demand over the forecast period. Moreover, the growing use of handheld consoles, combined with increasing demand for portable consumer electronics, is further fuelling the market growth.



    Furthermore, increased use of display windows, solar panels, heaters, LCD production, heads-up displays, radio frequency interference shielding, LED displays, and instrument display windows are intended to drive the growth of the optical coatings market.



    Related Reports :



    A. Abrasion Resistant Coatings Market

    https://www.industryarc.com/Report/16520/abrasion-resistant-coatings-market.html



    B. Stain Resistant Coatings Market

    https://www.industryarc.com/Research/Stain-Resistant-Coatings-Market-Research-505551



    For more Chemicals and Materials Market reports, please click here



    About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

    IndustryARC

    Venkat Reddy

    (+1) 970-236-3677

    venkat@industryarc.com

    Source: EmailWire.Com

    Source: EmailWire.com

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