| The report “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 Near infrared absorbing materials market is mainly driven by the demand from various end use industries such as electronics & telecommunication, industrial, defense and security, photovoltaics, others. It is also driven by developing and emerging economies such as US and China.
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Some of the prominent key players are: · Sumitomo Metal Mining Co., Ltd. (Japan) · Nanophase Technologies Corporation (US) · Heraeus Holding (Germany) · Keeling & Walker (UK) · Edmund Optics (US) · Merck (US) · 3M (US) · Resonac Holdings Corporation (Japan) · Advanced nano products co ltd (South Korea) · Nippon Shokubai Co., Ltd (Japan) Driver: Increasing demand for advanced technologies.Advancements in technology have been a significant driver for the development and adoption of near-infrared absorbing materials. These materials have gained prominence due to their unique ability to selectively absorb and manipulate near-infrared light, opening new possibilities for a wide range of applications. Advancements in characterization and measurement techniques have played a vital role in driving the adoption of near-infrared absorbing materials. Sophisticated instruments and tools enable accurate evaluation of material properties, including absorption spectra, transmittance, and reflectance. This level of characterization allows researchers and engineers to fine-tune the materials’ performance and optimize their integration into specific applications. For example, Optical Filters: Near-infrared absorbing materials are used in optical filters to selectively block or transmit specific wavelengths of light. For example, in digital cameras and imaging devices, near-infrared absorbing filters are employed to enhance image quality by reducing unwanted infrared interference and improving color accuracy. “Electronics & Telecommunications was largest end-use industry for near infrared absorbing materials market in 2023, in terms of value”The Electronics & Telecommunications by end use, accounted for the largest market share in the for near infrared absorbing materials market, in terms of value, in 2023. However, the Electronics & Telecommunications is projected to grow at the highest CAGR in value during the forecast period. The electronics and telecommunications industry is a dynamic and rapidly evolving sector that relies on advanced technologies and materials to meet the demands of an interconnected world. Near-infrared absorbing materials play a crucial role in this industry, enabling various applications that enhance performance, functionality, and user experience. In the field of electronics, near-infrared absorbing materials find application in optical filters, which are used to selectively transmit or block specific wavelengths of light. These filters help improve image quality, reduce glare, and enhance the clarity of displays and imaging devices. For example, organic dyes and polymers can be used as color filters in liquid crystal displays (LCDs) to achieve vibrant and accurate color reproduction. “North America was the largest market for Near infrared Absorbing Material Market in 2023, in terms of value.”The Near infrared Absorbing Material Market in North America is anticipated to register a highest CAGR between 2023 and 2028. The Near IR Absorbing Material Market in North America comprises the US, Mexico, and Canada. It was the largest market of The Near IR Absorbing Material Market in 2022. The energy-efficient solutions fuel the demand for NIR absorbing materials. North America places a strong emphasis on energy efficiency and sustainability. NIR absorbing materials can be used in various applications, such as smart windows or solar control films, to reduce solar heat gain and improve energy efficiency in buildings. The major players operating in the North America region include Inframat Advanced Materials LLC, Epolin LLC, American elements among others. |
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