Coatings market to reach $5.6 billion in 2012

11 Jul 2007

Specialized designs lead the growth in the optical coatings market according to the latest report from BCC.

Total revenues generated from optical coatings will grow at an average annual growth rate (AAGR) of 3.9 % to reach $5.6 billion in 2012. That's according to the latest market report from BCC, who predicts that specialized designs for niche applications will lead the growth.

The report, entitled "Future for Optical Coatings", predicts that specialist coatings for medical procedures will see significant growth. "Filters that will permit remote sensing for specific agents will be popular," report author Lori Weisenbach, told optics.org. "As will coatings that permit in situ identification of foreign cells. In the short term, these new applications will continue to support increasing revenues. Standard coatings have become commodities over the last half decade."

Putting this into figures, the report claims that revenues from optical coatings in medical applications will increase at an AAGR of 12 % to $386 million in 2012.

According to Weisenbach, growth depends on whether the use of optics instead of alternative technologies is advantageous. "Telecom is as obvious example of a market where the advantages of optics make the technology dominant," commented Weisenbach. "Petroleum is another market where optics is becoming more common. Reserves are now being drilled so deep that electronics are unable to function. Fiber optic sensors are now being sent down into wells and exploratory drill holes."

Weisenbach believes the use of optical technology will continue to increase in vehicles. "In the future I expect to see flat screens; virtual dash boards; plastic optical fibers; cameras for lane keeping and collision avoidance; and detectors in vehicles," she said.

In 2005, the report says that revenues from optical coatings in electronics were $3.011 million. This is projected to grow at an AAGR of 3 % to $3.229 million in 2012. As the amount of optical technology increases in vehicles, this will lead to an AAGR of 7 % to $480 million in 2012.