COVID-19 Impact & Recovery Analysis | Anti-Reflective Coatings Market 2020-2024 | Growing Demand for Anti-Reflective Coatings in Solar Industry to Boost the Market Growth | Technavio

LONDON–(BUSINESS WIRE)–#AntiReflectiveCoatingsMarket–The anti-reflective coatings market is expected to grow by USD 2.31 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

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Governments across the world are undertaking various initiatives and offering subsidies to support the adoption of renewable energy technologies such as solar power. For example, countries such as China and India have reduced excise and customs duties for solar parts and components, which has significantly increased the investments in the solar industry in these countries. Anti-reflective coatings find a wide range of applications in the solar industry as they increase the energy collection yield of solar collectors for thermal solar plants. This is one of the key factors driving the demand for anti-reflective coatings in the solar industry. With the increase in the number of government supports, initiatives, and subsidies for solar power energy generation, the growth of the global anti-reflective coatings market will accelerate during the forecast period.

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As per Technavio, the emerging demand from APAC will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Anti-Reflective Coatings Market: Emerging Demand from APAC

Rapid industrialization and economic developments in countries such as China, India, Japan, Australia, and New Zealand have significantly contributed to the growth of APAC’s GDP over recent years. Also, the region witnessed considerable growth in 2015 due to a sharp decline in oil prices, which benefitted most Asian countries. Besides, rapid urbanization coupled with the booming construction industry in the region is expected to have a positive impact on the growth of the global anti-reflective coatings market.

“Rise in demand from the consumer electronics industry and the growth in the automotive industry will further boost market growth during the forecast period”, says a senior analyst at Technavio.

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Anti-Reflective Coatings Market: Segmentation Analysis

This market research report segments the anti-reflective coatings market by application (Eyewear, Electronics, Solar, Automobile, and Others) and geography (APAC, Europe, North America, MEA, and South America).

The APAC region led the anti-reflective coatings market in 2019, followed by Europe, North America, MEA, and South America respectively. During the forecast period, the APAC region is expected to provide significant growth opportunities for market players.

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Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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