Anti-reflective coatings are dielectric coatings intended to reduce reflection and improve transmittance through a lens or any other optical surface. These coatings control both reflection and transmission properties with respect to visible light, UV rays, and near-IR spectral bands. Anti-reflective coatings have gained significant importance in the autonomous vehicle industry, owing to their advanced properties of high durability, enhanced visibility, and superior spectral performance.
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With the rapidly advancing automotive technology, the advanced driver assistance system (ADAS), advancements in headlamps, and other aesthetic features are picking up pace. These systems help drivers to see better and further in darkness by swiveling and rotating the headlights to see the path ahead for the vehicle. Thus, demand for optical components is expected to increase during the forecast period. On the other hand, LiDAR is projected to grow at the highest CAGR between 2020 and 2025, in terms of volume. This is because it offers a greater range, a wide field of view, and improved accuracy to spot the obstacles when compared to other sensing components such as camera, radars, and ultrasonic sensors.
Over the last decade, the automotive industry has witnessed a massive transformation, owing to rising air pollution, stringent government rules and regulation, and growing emphasis toward road safety. The increasing number of on-road vehicles provides a large number of opportunities; however, it is leading to complications for safer and more secure movement of goods and passengers. Currently, the automotive industry is on the crest of technological advancements, which, in turn, are expected to further advance the concept of vehicle safety on public roads. Thus, consumers and regulatory bodies have been pushing automotive OEMs to develop autonomous vehicles that offer higher safety than conventional vehicles. Autonomous vehicles are capable of guiding themselves without human interference and are equipped with LiDAR (light detection and ranging) sensors, which enable reliable and safe operations of the vehicle. Therefore, the need to improve and enhance the connectivity and vision of LiDAR systems in an autonomous vehicle has triggered the demand for hi-tech paints and coatings in the autonomous vehicle industry.
Hi-tech paints and coatings, including anti-reflective coatings, anti-fingerprint coatings, and functional pigments, among others, enhance the sensitivity of LiDAR systems and also improve their range and accuracy to see low-reflectivity objects, thereby playing an important role in navigation for an autonomous vehicle. Sensors, which allow vehicles to communicate with each other and detect obstacles to avoid accidents, also require hi-tech paints and coatings. Sensors such as LiDAR, camera, and other devices operate by pulsing light at objects and then using the speed of the reflection to determine position and distance, thus requiring high-quality paints and coatings. Moreover, it is difficult for sensors to detect cars with dark-colored paints such as black, grey, and blue. Therefore, hi-tech coatings play a crucial role, as they have a distinct layer that inhibits the absorption of signal into dark-colored paint, increasing the efficiency of sensors used on self-driving cars. Moreover, there is also an increased need for surfaces that are resistant of fingerprints, dirt, and contamination. In addition to this, constantly changing consumer preferences toward better driving experience and driver assist applications has boosted the demand for hi-tech paints and coatings in the automotive industry.
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The hi-tech paints and coatings market is also proportionally relative to the development of the autonomous vehicles. The need for safety, rising demand for luxury cars as a result of the increasing disposable income of the developing countries, and stringent government regulations have influenced the autonomous vehicle market to substantially enhance its sales, which has subsequently propelled the growth of different sensors and components.
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