According to a market research report, the “Near Infrared Absorbing Materials Market by Material (Organic Materials, Inorganic Materials), Function (High Transparency, Absorption, Heat Resistance), Absorption Range (700-1000nm, 1000nm), End Use Industry, Region – Global Forecast to 2028 “, is projected to reach USD 453 million by 2028, at a CAGR of 7.9% from USD 308 million in 2023. The increasing demand from the end use industries such as Electrionics & Telecommunication, industrial, Defense & Security, Photovoltaics and others contribute to the rapid growth in the demand for near infrared absorbing material market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=73817832
Browse
136 Market data Tables
51 Figures
195 Pages and in-depth TOC on “Near Infrared Absorbing Materials Market – Global Forecast to 2028”
This report also provides a comprehensive analysis of the companies listed below:
The near infrared absorbing material market in North America holds the largest market share and is experiencing rapid growth. In the electronics field, near infrared absorbing materials find application in optical filters, which selectively transmit or block specific light wavelengths. These filters are instrumental in improving image quality, reducing glare, and enhancing the clarity of displays and imaging devices. For instance, organic dyes and polymers can be utilized as color filters in liquid crystal displays (LCDs).The key global players in the Near Infrared absorbing material market include Sumitomo Metal Mining Co., Ltd. (Japan), Nanophase Technologies Corporation (US), Heraeus Holding (Germany), Keeling & Walker (UK), Edmund Optics (US), Merck (US), 3M (US), (Japan), Resonac Holdings Corporation (Japan), Advanced nano products co ltd (South Korea), Nippon Shokubai Co., Ltd.(Japan). New product launches and expansions are the major growth strategies adopted by the key players in the market.
Recent Developments in Near Infrared Absorbing Materials Market Industry
In 2023 Edmund Optics®, a renowned supplier of optical components for diverse applications, has teamed up with ISP Optics to provide worldwide availability of ISP Optics’ extensive collection of high-quality optical components in over 15 infrared (IR) materials. Through this partnership, Edmund Optics becomes a global ecommerce distributor for ISP Optics.
In 2023, AGEO, the world’s leading supplier of passive electronic components, acquires Heraeus’ platinum temperature sensor business.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=73817832
Based on infrared range, near infrared absorbing material market has been segmented into 700 -1000nm and 1000nm above. The 700-1000nm segment is the largest market share in value during the forecast period as it offers wide and different applications in various industries.
Based on material types, In terms of value, the global near infrared absorbing material market is divided into organic and inorganic materials, with inorganic materials leading the market share in 2023. Inorganic materials, including antimony tin oxide (ATO), indium tin oxide (ITO), quantum dots, doped tungsten oxide, and others, contribute significantly to the near infrared absorbing material market. These materials possess distinct properties that make them highly suitable for applications requiring near infrared absorption. Notably, ATO and ITO are widely employed as transparent conductive coatings with near infrared absorbing capabilities, making them ideal for applications such as smart windows and optoelectronic devices.
Based on functions, The Near IR Absorbing material Market is segmented based on Function into High Transparency, Absorption, Heat Resistance, Solubility and Others. The others segment includes flexibility, durability, chemical stability, and compatibility. The Absorption segment accounted for a 33.0% share of the overall Near IR Absorbing material Market in 2022. Absorption is a fundamental function of near-infrared (NIR) absorbing materials, as it allows them to selectively absorb light within the NIR spectrum. This function plays a crucial role in numerous applications where targeted absorption of specific wavelengths is desired.
Based on end use industries The Near IR Absorbing Material market is segmented based on end use industries into electronics and telecommunications, Industrial, defense and security, photovoltaics and others. These industries are the final stage of the value chain and play a crucial role in driving economic growth and meeting consumer demands. The overall market is dominated by the electronics and telecommunications segment.
Inquire Now: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=73817832