Report Predicts Optical Coatings Market to Reach $19.70 Billion by 2022
SAN FRANCISCO - The global market for optical coatings is expected to reach $19.70 billion by 2022, according to a new report by Grand View Research Inc. Growing demand for smartphones, tablets and high-resolution displays is expected to drive growth over the forecast period.
Rising utilization of consumer electronics coupled with technological advancement in this area is expected to augment demand over the next seven years. Optical coatings are used on glass surfaces used in a host of applications. Growing concern regarding energy efficient buildings has led to increased use of optical coatings in architectural glass. As per the LEED standards for green buildings, optical coatings play an important role in reducing energy consumption through thermal insulation and results in effective cooling and reduced costs. Favorable regulatory policies around the globe are expected to propel product demand in architectural glass applications over the forecast period.