|
Forecast Period
|
2024-2028
|
|
Market Size (2022)
|
USD 296.13 million
|
|
CAGR (2023-2028)
|
6.89%
|
|
Fastest Growing Segment
|
Inorganic
|
|
Largest Market
|
Asia Pacific
|
Market Overview
Global Near Infrared Absorbing
Materials Market has valued at USD 307.06 million in 2022 and is anticipated to
project robust growth in the forecast period with a CAGR of 7.34% and is
expected to reach USD 470.40 million by 2028. Near-infrared absorbing materials
exhibit a unique capability, combining excellent visible light transparency
with selective absorption of near-infrared wavelengths. For instance, when
incorporated into window materials, these materials efficiently reduce the
energy from near-infrared sunlight, effectively minimizing temperature
increases within a room while preserving adequate brightness.
Key Market Drivers
Rising Demand of Near Infrared
Absorbing Materials in Electronics & Telecommunications Industry
Electronics &
Telecommunications is a dynamic and ever-evolving industry characterized by
rapid technological advancements and the constant quest for enhanced
performance and functionality. Within this sector, Near Infrared (NIR)
absorbing materials have emerged as critical components, driving innovations in
various applications. Near Infrared absorbing materials are substances that
possess the unique ability to absorb and manipulate light within the Near
Infrared spectrum, which ranges from approximately 750 nanometers (nm) to 2500
nm. This optical property makes them invaluable in a multitude of applications,
particularly within the Electronics & Telecommunications sector. One of the
foremost applications of NIR absorbing materials in electronics is their use in
optical filters and sensors. These materials allow precise control over the
transmission and absorption of NIR light, enabling the creation of optical
devices with superior performance characteristics. NIR filters find extensive
use in telecommunications equipment, enhancing signal quality and reducing
interference. Additionally, NIR sensors enable accurate measurements of various
physical parameters, including temperature, moisture, and gas concentrations,
making them indispensable in electronic systems. The demand for high-speed and
reliable data transmission has led to the adoption of optical communication
technologies, such as fiber optics. NIR absorbing materials play a crucial role
in this domain by facilitating the manipulation and management of optical signals.
They enable the development of components like optical switches, modulators,
and wavelength-selective devices, which are essential for the efficient
transmission of data over optical networks. As data demands continue to soar,
the need for NIR materials in telecommunications is expected to grow
exponentially.
Moreover, in the quest for
sustainable energy sources, NIR absorbing materials have found applications in
photovoltaics and solar cells. These materials enhance the absorption of
sunlight, extending the spectral range over which solar cells can convert light
into electricity. This translates to improved energy conversion efficiency,
making solar panels more productive and economically viable. With the global
push for renewable energy sources, the demand for NIR materials in
photovoltaics is set to rise substantially. Modern electronic devices, from
smartphones to large-screen televisions, rely on advanced display technologies
for enhanced user experiences. NIR absorbing materials are pivotal in the
development of displays with superior color accuracy, contrast ratios, and
energy efficiency. They are utilized in Liquid Crystal Displays (LCDs), Organic
Light Emitting Diodes (OLEDs), and other emerging display technologies. As
consumers continue to demand sharper, brighter, and more energy-efficient
displays, the incorporation of NIR materials will be fundamental in meeting
these expectations. The Electronics & Telecommunications market has
witnessed a surge in biometric authentication technologies, such as fingerprint
and facial recognition. NIR sensors, integrated with these systems, enable
secure and fast biometric identification. These materials enhance the accuracy
of biometric sensors, even in challenging lighting conditions. As security
concerns drive the adoption of biometric authentication in electronic devices
and telecommunications, the demand for NIR materials will escalate.
Furthermore, Photonic Integrated
Circuits (PICs) are at the forefront of optical signal processing in
telecommunications. NIR absorbing materials are essential components in the
development of PICs, enabling the integration of various optical functions on a
single chip. This miniaturization results in more compact and energy-efficient
devices for optical signal routing and processing. The demand for high-speed
data transmission and optical networking is propelling the use of NIR materials
in PICs. The global push for renewable energy sources to combat climate change
is driving investments in photovoltaics and solar energy. NIR absorbing
materials are vital for boosting the efficiency of solar cells, making them an
integral component of the transition to sustainable energy solutions. As
governments and industries invest heavily in renewable energy, the demand for
NIR materials in solar applications is set to surge, leading to the demand of
market in the forecast period.
Increasing Demand of Near
Infrared Absorbing Materials in Industrial Sector
In today's fast-paced industrial
landscape, innovation is the driving force behind efficiency, productivity, and
sustainability. Near Infrared (NIR) absorbing materials have emerged as unsung
heroes in the quest for enhanced industrial processes. These materials possess
unique properties that make them indispensable in various industrial
applications. The industrial sector relies heavily on processes involving
heating and drying, whether it's curing coatings, drying textiles, or
processing food products. NIR absorbing materials have found a crucial role in
optimizing these processes. By selectively absorbing NIR radiation, these
materials can efficiently transfer heat to the target material, resulting in
faster and more energy-efficient drying and curing processes. This not only
improves productivity but also reduces energy consumption and operational
costs, making NIR materials a sought-after solution for industries like
manufacturing and textiles. In the quest for quality control and inspection,
NIR absorbing materials have become instrumental. They are utilized in NIR
spectroscopy, a non-destructive testing method that allows industries to
analyze the composition and quality of materials in real-time. Industries such
as pharmaceuticals, agriculture, and food processing rely on NIR spectroscopy
to monitor product quality, optimize production processes, and ensure
compliance with quality standards. The demand for NIR materials in quality
control and inspection applications continues to rise as industries prioritize
precision and consistency.
Moreover, the agriculture sector
is undergoing a transformation driven by technology. NIR absorbing materials
play a pivotal role in this transformation, particularly in precision
agriculture. NIR sensors and devices enable farmers to assess crop health,
monitor nutrient levels in soil, and optimize irrigation practices. These
materials allow for rapid and non-destructive analysis, enabling farmers to
make data-driven decisions that improve crop yields, conserve resources, and
reduce environmental impact. As agriculture faces the challenge of feeding a
growing global population, the demand for NIR materials will continue to soar.
Furthermore, the pharmaceutical
industry demands the utmost precision and consistency in manufacturing
processes. NIR absorbing materials are employed in the pharmaceutical sector
for real-time monitoring of drug formulations and quality control. NIR
spectroscopy enables pharmaceutical manufacturers to analyze the composition of
raw materials, monitor drug blending processes, and ensure the final product's
integrity. The speed and accuracy of NIR technology reduces production downtime
and enhances product quality, making NIR materials a staple in pharmaceutical
manufacturing. In the era of heightened environmental awareness, industries are
under increasing pressure to minimize their environmental footprint. NIR
absorbing materials contribute to these efforts through applications in
environmental monitoring and pollution control. Industries such as wastewater
treatment and air quality management utilize NIR sensors to detect and analyze
pollutants. These materials enable real-time monitoring and data collection,
helping industries comply with environmental regulations and reduce their
impact on the environment.
Rising Demand of Near Infrared
Absorbing Materials in Defence & Security Sector
In an era marked by rapid
technological advancements and evolving security challenges, the Defence &
Security sector faces the relentless task of staying ahead of the curve. In
this pursuit, Near Infrared (NIR) absorbing materials have emerged as invaluable
assets, enabling cutting-edge innovations that enhance security, surveillance,
and protection. Camouflage and stealth technology are vital components of
modern military operations. NIR absorbing materials play a critical role in
these applications by enabling military personnel and equipment to remain
concealed from enemy detection systems. These materials absorb NIR radiation,
which is often used in night vision devices and enemy surveillance. As military
operations become increasingly dependent on covert tactics, the demand for NIR
materials for camouflage and stealth technology continues to grow. NIR
absorbing materials are instrumental in enhancing target identification and
surveillance capabilities for defence and security purposes. NIR sensors and cameras
equipped with these materials allow for improved visibility in low-light
conditions, enabling military and law enforcement personnel to detect potential
threats with greater precision. Advanced NIR technology has found applications
in border security, perimeter surveillance, and reconnaissance missions,
bolstering national security efforts.
Moreover, the Defence &
Security sector is witnessing a significant increase in the use of UAVs and
drones for reconnaissance, surveillance, and intelligence-gathering missions.
NIR sensors and cameras are integrated into these unmanned systems to capture
high-resolution images and videos, even in low-light and nighttime conditions.
NIR absorbing materials enhance the effectiveness of UAVs and drones, making
them valuable assets for military and security agencies worldwide.
Furthermore, defence and security
forces must be prepared to detect and respond to chemical and biological
threats swiftly. NIR spectroscopy, facilitated by NIR absorbing materials, is
employed to identify and analyze chemical and biological agents in real-time.
These materials enhance the sensitivity and accuracy of detection systems,
enabling timely responses to potential threats and minimizing the risk to
personnel and civilians. Securing military bases, critical infrastructure, and
government facilities is paramount. NIR absorbing materials are employed in
advanced access control and perimeter security systems. Biometric sensors
equipped with NIR technology enable secure authentication through facial
recognition and vein pattern analysis. Additionally, NIR sensors can detect
unauthorized intrusions based on body temperature and movement patterns,
enhancing security protocols. NIR absorbing materials are instrumental in
forensic science and crime scene investigation. They are used to identify and
analyze bloodstains, gunshot residue, and other evidence with NIR spectroscopy.
This technology expedites forensic analysis, aids in criminal investigations,
and supports law enforcement agencies in solving complex cases. The demand for
NIR materials in forensics and crime scene investigation is driven by the need
for rapid and accurate evidence collection.
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Key Market Challenges
Cost-Effective Manufacturing and
Regulatory Compliance Poses a Significant Obstacle to Market Expansion
One of the primary challenges in
the NIR absorbing materials market is the cost-effective manufacturing of these
materials. Producing high-quality NIR absorbing pigments, coatings, or
nanoparticles often involves complex processes and specialized materials, which
can drive up production costs. Finding ways to reduce manufacturing costs while
maintaining product quality is crucial to making NIR absorbing materials more
accessible to a wider range of industries and applications.
Moreover, as NIR absorbing
materials find applications in critical sectors such as healthcare and food
safety, they are subject to stringent regulatory requirements. Ensuring that
NIR materials comply with regulatory standards, including safety and
environmental regulations, can be a significant challenge. Companies in the NIR
absorbing materials market must invest in research and development to meet
these requirements and navigate the complex landscape of regulations.
Furthermore, the Near Infrared
Absorbing Materials market is highly competitive, with numerous players vying
for market share. This competition can lead to price wars and margin pressures,
affecting profitability. Companies must continually innovate to differentiate
their products and maintain a competitive edge.
Material Durability and
Lifespan
For NIR absorbing materials to be
effective in various applications, they must exhibit durability and a
reasonable lifespan. This challenge is especially pertinent in sectors like
construction, where NIR coatings and pigments must withstand harsh
environmental conditions over extended periods. Developing materials that
maintain their NIR properties under challenging conditions remains a priority
for researchers and manufacturers.
Moreover, as the NIR absorbing
materials market continues to grow, it becomes more competitive. Established
players and new entrants are vying for market share, which can lead to price
wars and margin pressures. Market saturation in some applications may also
limit growth opportunities. To remain competitive, companies must innovate and
differentiate their products while exploring new markets and applications.
Additionally, in applications
where NIR absorbing materials are integrated into existing products or systems,
compatibility issues can arise. Ensuring that NIR materials seamlessly
integrate with other components without compromising performance or safety is a
considerable challenge. This challenge is particularly relevant in industries
like electronics, where the integration of NIR components into devices must not
disrupt their functionality.
Key Market Trends
Rising Demand for
Energy-Efficient Building Materials
One of the prominent trends in
the NIR absorbing materials market is the increasing demand for
energy-efficient building materials. NIR absorbing coatings and pigments are
being incorporated into construction materials like paints and coatings. These
materials help regulate indoor temperatures by reflecting NIR radiation,
reducing the need for air conditioning during hot weather. This trend aligns
with the growing emphasis on sustainable construction practices and energy
conservation, especially in regions with extreme climates.
Moreover, the adoption of NIR
absorbing materials is on the rise in the security and defense sectors.
NIR-absorbing coatings and films are being used to camouflage military
equipment and vehicles. By absorbing NIR wavelengths, these materials reduce
the visibility of military assets under night vision surveillance, enhancing
security in both military and civilian applications. As geopolitical tensions
persist, the demand for NIR absorption technology is expected to grow further.
Advancements in Healthcare and
Diagnostics
In the field of healthcare, NIR
absorbing materials are making significant contributions to diagnostics and
medical imaging. NIR-absorbing nanoparticles and dyes are being used to develop
non-invasive imaging techniques, such as NIR spectroscopy and fluorescence
imaging. These technologies enable healthcare professionals to visualize and
analyze tissues, detect diseases, and monitor physiological processes more
effectively. The ongoing research and development in this area are likely to
lead to more precise and accessible diagnostic tools.
Moreover, the agriculture sector
is also benefitting from the use of NIR absorbing materials. NIR spectroscopy
is being employed to assess soil quality, monitor crop health, and optimize
irrigation practices. Additionally, in the food industry, NIR technology is used
for quality control and food safety testing. NIR-absorbing sensors can quickly
analyze the composition of food products, ensuring they meet quality standards
and regulatory requirements. As global food demand rises, the integration of
NIR technology is expected to increase productivity and reduce waste in
agriculture and food processing.
Environmental Monitoring and
Remote Sensing
Environmental concerns are
driving the use of NIR absorbing materials in monitoring and remote sensing
applications. These materials are used in satellite and airborne sensors to
analyze land, water, and atmospheric conditions. By collecting data in the NIR
spectrum, scientists can monitor changes in vegetation, identify pollution
sources, and assess climate-related parameters. This trend is crucial for
addressing environmental challenges and making informed decisions for
sustainable resource management.
Furthermore, in the packaging
industry, NIR absorbing films are gaining traction due to their ability to
extend the shelf life of perishable goods. These films selectively absorb NIR
radiation, which reduces the heating effect caused by sunlight on packaged
products. As a result, food items and pharmaceuticals can remain fresher for
longer periods, reducing food waste and preserving the efficacy of medicines.
This trend aligns with the increasing focus on sustainability and reducing the
environmental impact of packaging materials.
Segmental Insights
Material Insights
Based on the category of material,
inorganic emerged as the dominant player in the global market for near infrared
absorbing materials in 2022. Inorganic materials play a pivotal role in the
near-infrared absorbing material market, with notable contributions from
substances like antimony tin oxide (ATO), indium tin oxide (ITO), quantum dots,
doped tungsten oxide, among others. These materials exhibit exceptional
attributes that render them exceptionally well-suited for near-infrared
absorption purposes. For instance, ATO and ITO are extensively utilized as
transparent conductive coatings featuring near-infrared absorbing capabilities.
This characteristic makes them exceptionally well-suited for various
applications, including smart windows and optoelectronic devices, where their
unique properties are harnessed effectively.
Function Insights
Based on the category of
function, absorption emerged as the dominant player in the global market for near
infrared absorbing materials in 2022. Absorption is a fundamental
characteristic of near-infrared (NIR) absorbing materials, serving as a pivotal
function that enables them to selectively take in light within the NIR
spectrum. This function assumes critical significance in numerous applications
where precise absorption of wavelengths is a primary objective. In the realm of
photovoltaics, absorption holds paramount importance for the effective
conversion of solar energy in solar cells. NIR absorbing materials are
meticulously engineered to absorb a specific range of NIR wavelengths, allowing
them to capture a broader spectrum of solar radiation. By proficiently
absorbing NIR light, these materials enhance their capacity to convert a more
extensive portion of solar energy into electrical energy, consequently
elevating the overall efficiency and performance of solar cells. In the domain
of medical applications, NIR absorbing materials endowed with robust absorption
characteristics find application in targeted therapies and imaging,
facilitating precise and effective medical procedures.
Moreover, optical transparency is
a fundamental characteristic of near-infrared (NIR) absorbing materials,
serving as a vital function that facilitates the efficient transmission of NIR
light. This exceptional transparency minimizes undesired scattering or reflection,
making these materials ideal for seamless integration into optical systems,
sensors, and devices where precise management of NIR wavelengths is a paramount
requirement. The significance of this function is particularly pronounced in
diverse applications where the accurate control and manipulation of NIR light
holds critical importance.
End Use Industry Insights
Based on the category of end use
industry, electronics & telecommunications emerged
as the dominant player in the global market for Near Infrared Absorbing
Materials in 2022. The Electronics & Telecommunications segment emerged as
the dominant market share holder in the near-infrared absorbing materials
market. Nonetheless, this sector is anticipated to exhibit the highest Compound
Annual Rate (CAR) of growth in terms of value throughout the forecast period.
The Electronics & Telecommunications industry is characterized by its
dynamic and rapidly evolving nature, relying heavily on cutting-edge
technologies and materials to meet the ever-growing demands of an
interconnected global landscape. Within this industry, near-infrared absorbing
materials assume a pivotal role, facilitating a diverse array of applications
that significantly contribute to enhancing overall performance, functionality,
and the end-user experience. The electronics and telecommunications sector
stands as a vibrant and rapidly progressing industry that relies heavily on
cutting-edge technologies and materials to meet the demands of our
interconnected world. Within this industry, near-infrared absorbing materials
assume a pivotal role, enabling a diverse range of applications that elevate
performance, functionality, and overall user experience.
In the realm of electronics,
near-infrared absorbing materials find valuable utility in the creation of
optical filters. These filters are instrumental in selectively transmitting or
obstructing specific wavelengths of light, leading to enhancements in image
quality, glare reduction, and the overall clarity of displays and imaging
equipment. As an illustrative example, organic dyes and polymers emerge as
notable choices for deploying color filters in liquid crystal displays (LCDs),
achieving the objective of vibrant and precise color reproduction.
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Regional Insights
North America emerged as the
dominant player in the global Near Infrared Absorbing Materials market in 2022.
The Near-Infrared Absorbing Material Market in North America is poised for rapid
growth in the upcoming forecast period. The surging demand for energy-efficient
solutions is a driving force behind the increased need for NIR absorbing
materials in North America. The region places a strong emphasis on energy
efficiency and sustainability in various applications. For instance, these
materials find use in applications like smart windows and solar control films,
effectively reducing solar heat gain and enhancing overall energy efficiency in
buildings. Notable industry players operating within the North American region
include Inframat Advanced Materials LLC, Epolin LLC, American Elements, and
several others.
Moreover, on the other hand, Europe
stands out as a significant region within the near-infrared absorbing material
market, primarily due to its advanced technological infrastructure, robust
manufacturing capabilities, and unwavering commitment to sustainability. This
region boasts a rich tapestry of end-use industries that heavily rely on
near-infrared absorbing materials.
Recent Developments
- In April 2023, Edmund Optics, a
well-known provider of optical components catering to a wide range of
applications, entered a collaborative venture with ISP Optics to make ISP
Optics' comprehensive range of top-notch optical components available worldwide
in more than 15 infrared (IR) materials. In this partnership, Edmund Optics
assumes the role of a global e-commerce distributor for ISP Optics.
- In October 2022, YAGEO, the
world's leading supplier of passive electronic components, acquired Heraeus'
platinum temperature sensor business effective March 31, 2023.
- In August 2018, Sumitomo Metal
Mining Co., Ltd. reached a settlement with the Korean company Nexfil in the
lawsuit SMM brought about at the Seoul Central District Court on the grounds
that some of Nexfil’s products infringe patent rights relating to
Infrared-shielding body1 which belong to SMM.
Key Market Players
- Sumitomo Metal Mining Co., Ltd.
- Nanophase Technologies Corporation
- Heraeus Holding
- Keeling & Walker Ltd
- Edmund Scientific Corporation
- Nippon Shokubai Co., Ltd.
- Resonac Holdings Corporation
- Inframat Advanced Materials LLC
- Epolin LLC
- American Elements
|
By
Material
|
By
Function
|
By
End Use Industry
|
By Region
|
- Organic
Materials
- Inorganic
Materials
|
- High
Transparency
- Absorption
- Heat
Resistance
|
- Electronics
& Telecommunications
- Industrial
Sector
- Defence
& Security
- Photovoltaics
- Others
|
- Asia
Pacific
- Europe
- North
America
- South
America
- Middle
East & Africa
|
Report Scope:
In this report, the Global Near
Infrared Absorbing Materials Market has been segmented into the following
categories, in addition to the industry trends which have also been detailed
below:
- Near
Infrared Absorbing Materials Market, By Material:
o Organic
Materials
o Inorganic
Materials
- Near
Infrared Absorbing Materials Market, By Function:
o High
Transparency
o Absorption
o Heat
Resistance
- Near
Infrared Absorbing Materials Market, By End Use Industry:
o Electronics
& Telecommunications
o Industrial
Sector
o Defence
& Security
o Photovoltaics
o Others
- Near
Infrared Absorbing Materials Market, By Region:
o Asia-Pacific
§ China
§ India
§ Australia
§ Japan
§ South
Korea
o Europe
§ France
§ Germany
§ Spain
§ Italy
§ United
Kingdom
o North
America
§ United
States
§ Mexico
§ Canada
o South
America
§ Brazil
§ Argentina
§ Colombia
o Middle
East & Africa
§ South
Africa
§ Saudi
Arabia
§ UAE
Competitive Landscape
Company Profiles: Detailed
analysis of the major companies present in the Global Near Infrared Absorbing
Materials Market.
Available Customizations:
Global Near Infrared Absorbing
Materials Market report with the given market data, Tech Sci Research
offers customizations according to a company's specific needs. The following
customization options are available for the report:
Company Information
- Detailed
analysis and profiling of additional market players (up to five).
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Materials Market is an upcoming report to be released soon. If you wish an
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