The increased usage of products such as mobile phones, tablets, and wearables on a global scale, has propelled the need to develop coatings that enhance and maintain the durability of the product. With researches and technological advancements in the manufacturing and advanced materials industry, innovative functional coatings are being developed.
Initially, coatings were used for providing finish to the product, however, they now are an important area of the surface treatment process. Along with protecting and beautifying the product, coatings also offer customized features such as enhanced durability and resistance from corrosion, wear and tear, and fouling. Amongst the various kinds of coatings, the demand for the ones with anti-reflective and anti-fingerprint properties has been increasing on a year-on-year basis.
Anti-reflective coatings have emerged as a cost-effective solution for various end-user industries offering several advantages including enhanced energy conversion of solar panels, enhanced visibility, and reduced possibility of ghost images on the glass of the vehicle while driving at night, among others.
Anti-fingerprint coatings on the other hand are widely adopted owing to their anti-smudge properties. They significantly reduce the maintenance cost of the products by repelling the deposition of dirt and fingerprint stains.
Due to the wide range of advantages, the demand for anti-reflective and anti-fingerprint coatings is increasing tremendously. According to a latest market intelligence report published by BIS Research titled “Global Anti-Reflective and Anti-Fingerprint Coatings Market – Analysis and Forecast (2018-2028),” in terms of volume the anti-reflective coatings market is anticipated to grow at a CAGR of 7.94%, and the anti-fingerprint coatings market is anticipated to grow at a CAGR of 6.18% during the forecast period, 2018-2028. Also, in terms of volume the markets are expected to reach 2.83 billion square meters and 1.46 billion square meters by 2028, respectively.
Key application areas of anti-reflective and anti-fingerprint coatings market include industries such as automotive, building and construction, consumer goods, solar, and stainless-steel. The solar segment is anticipated to be the largest application area for anti-reflective coatings followed by the consumer goods segment. The increased production of solar glass across countries is the major factor leveraging the growth of the solar segment. The use of anti-reflective and anti-fingerprint coatings in solar glass increases the absorption of sunlight and results in high power generation. Further, these coatings also enhance the efficiency of the solar photovoltaic (PV) module by improving the transmittance of light.
The key factors contributing to the growth of the overall market and the various application areas are also discussed in the report published by BIS Research. As per the study, the growth of the anti-reflective coatings market can be attributed to the increased manufacturing of consumer goods and solar glass across various countries, significant investments for the development of technology, and the incorporation of anti-reflective coatings in the automotive industry to offer clear night view and thus reduce accidents.
Similarly, the increased use of anti-fingerprint coatings in stainless-steel applications and the increased production of consumer goods and sanitary ware are the factors driving the growth of the global anti-fingerprint coatings market.
Leading players such as Royal DSM, Essilor International S.A., and Kriya Materials are focusing on developing new technologies and are adopting various business strategies to strengthen their positions in the market. With potential opportunities such as the escalating production of solar panels and the introduction of biometrics in the vehicles, the global anti-reflective and anti-fingerprint coatings market is expected to grow at a rapid pace.