A thin film coating can be applied to different objects, such as LED displays, to protect them from environmental rays and scratches. It possesses chemical and physical characteristics such as antistatic, adhesion, and corrosion prevention. In addition, it helps in obtaining a specific level of reflectivity by improving the surface characteristics of solids such as transmission and reflection. Noticeably, it has applications in numerous fields including microelectronics, semiconductors, photovoltaic solar cells (PV), and optical coating. The technological advances in semiconductor packaging and the rise in demand for LEDs are anticipated to fuel its demand. Furthermore, anti-reflective and infra-red coatings are increasingly being used in military applications such as night vision cameras, thermal imaging, and head missile seekers. The cumulative force of these factors is expected to unlock novel revenue opportunities for the global thin film coating market.
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Increased Applications in Automotive Industry to Steer Thin Film Coating Market Growth
Thin film coatings are used in the automotive industry to create cutting-edge infotainment systems and automobile displays. These coatings are further expected to rise to prominence in the sector owing to the growing use of optically coated glass in infrastructures. Besides, the use of thin film coatings in the automotive industry has economic and ecological advantages. Apart from that, the components that are UV and abrasion-resistant in the automobile require optical coatings. Optical coatings are applied on automotive components such as headlight lenses, car windows, windshields, and gear knob tops. As a result of this, the global thin film coating market is expected to grow at a rapid pace.
Rising Consumer Electronics Usage to Create Tremendous Growth Prospects for Global Thin Film Coating Market
Over the last decade, the adoption of smart devices such as smartphones has significantly grown. This aspect coupled with the rising disposable income across consumers has led to tremendous growth in the electronics industry. Moreover, the continuous technological advancements in smart devices are further aiding the industry’s expansion. The electronics industry extensively uses infrared and anti-reflective coatings for their improved optical display and impact-resistant capabilities. Additionally, the growing need for multipurpose devices and the thriving semiconductor industry are propelling this demand. Such a scenario is expected to unlock positive dynamics in the global thin film coating market in the years to come.
North America to Lead Thin Film Coating Market Amid Flourishing Solar, Aerospace, and Defense Industries
North America is expected to remain at the vanguard of the thin film coating market over the forecast period. This can be attributed to the growing solar sector and rising emphasis on building domestic businesses in the USA. Furthermore, the aerospace and defense industry is exhibiting growth potential for reflective coating materials. Besides, the region is also anticipated to witness demand for optical coatings owing to the presence of several mid and small-scale medical equipment manufacturers. This demand is expected to surge with growing microelectronics, biotechnology, and software development domains. Consequently, the thin film coating market in the region is expected to grow at a blistering pace.
Prominent Market Players
Some of the major players in the global thin film coating market include Micro Point Pro Ltd (MPP), Precision Optical, Thin Films Inc., EP Laboratories, Inc, Incorporated, ULVAC-PHI, Alluxa, Torr Scientific Ltd, Oerlikon Balzers, Reynard Corporation, IDEX Corporation, and Material.
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