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Near Infrared Absorbing Materials Market Size
Near Infrared Absorbing Materials Market size was valued at around USD 298 million in 2022 and is estimated to reach USD 621.9 million by 2032. NIR absorbing materials are used in optical filters for electronic displays, cameras, and imaging devices to selectively block or filter out unwanted NIR radiation. Infrared-absorbing coatings on screens and windows prevent eavesdropping by blocking NIR signals used by some surveillance techniques.
NIR-absorbing coatings can be applied to solar panels and solar concentrators to manage heat and improve energy conversion efficiency. NIR-absorbing materials used in roofing systems help reduce heat absorption, leading to lower indoor temperatures and energy consumption.
Ensuring consistent and reliable performance of NIR absorbing materials across various applications and environmental conditions is crucial. Integrating NIR absorbing materials into existing products or systems requires compatibility with other materials, coatings, and substrates. NIR absorbing materials must withstand exposure to light, temperature variations, humidity, and other environmental factors. Thus, the risks associated with Near infrared absorbing materials may drive down the acceptance rate, further hampering the business landscape.
How is heat resistance functionality influencing the demand in near infrared (NIR) absorbing materials market?
Heat resistance segment is anticipated to record around 6.8% CAGR from 2023 to 2032. NIR absorbing materials are used for thermal management help dissipate excess heat in electronic devices, preventing overheating and improving device performance.
What is the 2032 estimate for near infrared absorbing materials market?
Near infrared absorbing materials industry value was around USD 298 million in 2022 and is estimated to reach USD 621.9 million by the end of 2032.
Who are the key players in the global near infrared absorbing materials sector?
BASF SE, Luna Innovations, Nanophase Technologies Corporation, Nanophotonica, SpectraFluidics, Suzhou NanoGrid Technology, Kolzer Srl, Skyray Instrument, PerkinElmer, Hamamatsu Photonics, Bruker Corporation, Ocean Optics, Horiba Scientific, Shimadzu Corporation, BaySpec, Inc.among others.
Why is the U.S. near infrared absorbing materials industry witnessing growth?
U.S. near infrared absorbing materials market size was USD 71.8 million in 2022 and will expand at a significant pace from 2023 to 2032, backed by the well-established healthcare sector with a focus on advanced diagnostics.