Irving, United States, July 25,2019- According to a new market report published by Lucintel, the future of the global thin film coating market looks promising with opportunities in consumer electronics, tools & equipment, automotive, aerospace & defense, energy, and medical industry. The global thin film coating market is expected to reach an estimated $13.6 billion by 2024 and it is forecast to grow at a CAGR of 4.4% from 2019 to 2024. The major growth drivers for this market are increasing demand for thin film coating in consumer electronics for high resolution display and other end use industries due to its superior functional properties and performance benefits.

In this market, thin film coatings are used in consumer electronics in high resolution display and in tools & equipment; it is used in cutting & forming tools, and bearings. Thin film coating are used in automotive in structural and under the hood components and in other industries such as aerospace & defense, it is used in turbine blades, landing gear, engine pylons, and military & defense optics. Lucintel forecasts that consumer electronics is expected to remain the largest end use industry and it is expected to witness the highest growth over the forecast period due to increasing demand from electronic display products such as mobiles, laptops and televisions.

Within the thin film coatings market, DLC coating will remain the largest coating type driven by the rise in demand for DLC coating in automotive engine components and medical devices due to high biocompatibility. Lucintel predicts that the transparent conductive coating type is expected to witness the highest growth over the forecast period supported by increase in demand of transparent conductive coatings in various applications such as smart devices, tablets, laptops, photovoltaics, OLEDs, and others.

Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to high production of consumer electronics and rapid industrialzation of automotive, aerospace, defense, and medical industries.

Emerging trends, which have a direct impact on the dynamics of the industry, include use of thin film coating for making flexible displays. Indium tin oxide (ITO) is almost exclusively used in transparent conductive coatings for high resolution display because of its two important properties, electrical conductivity and optical transparency. Oerlikon, Materion, Ionbond, HHV Ltd, Richter Precision, Micro Point Pro Ltd., Reynard Corporation and Newport Thin Film Laboratory are the major suppliers of thin film coatings.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global thin film coating market by end use industry, coating type, coating technique, coating material, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Thin Film Coating Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global thin film coating market by end use industry, coating type, coating technique, coating material, and region, as follows:

By End Use Industry [Value ($B) shipment analysis for 2013 – 2024]:

• Consumer Electronics

• Tools & Equipment

• Automotive

• Aerospace & Defense

• Energy

• Medical

• Others

By Coating Type [Value $B shipment analysis for 2013 – 2024]:

• Anti-reflective & High-reflective Coating

• Transparent Conductive Coating

• Diamond Like Carbon Coating

• Others

By Coating Technique [$B shipment analysis for 2013 – 2024]:

• Physical Vapor Deposition (PVD)

• Chemical Vapor Deposition (CVD)

• Others

By Coating Material [$B shipment analysis for 2013 – 2024]:

• Metal

• Ceramic

By Region [$B shipment analysis for 2013 – 2024]:

• North America

• Europe

• Asia Pacific

• The Rest of the World

This 200-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com. Lucintel offerings include Chemical Market Research Reports, Chemical Industry Analysis Report, Opportunity Screening and Analysis, Strategic Growth Consulting and Due Diligence.