Near Infrared Absorbing Materials Market to Grow with a CAGR of 6.89% through 2030
Expansion
of Renewable Energy and Photovoltaics is expected to
drive the Global Near Infrared Absorbing Materials Market growth in the
forecast period, 2026-2030.
According to
TechSci Research report, “Near Infrared
Absorbing Materials Market - Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2030F”,
the Global Near Infrared Absorbing Materials Market stood at USD 296.13 Million
in 2024 and is anticipated to grow with a CAGR of 6.89% through 2030. The
accelerating global shift toward clean energy is a significant driver for the
Near Infrared (NIR) absorbing materials market, particularly in the photovoltaics
sector. As countries commit to reducing carbon emissions and meeting
sustainability goals, there is a growing demand for high-efficiency solar
technologies. NIR-absorbing materials play a critical role in enhancing
the performance of solar cells, especially perovskite and tandem cells, by
enabling broader spectrum light absorption and reducing energy losses due to
infrared radiation.
Recent
advancements, such as those made by researchers in South Korea and Europe,
have demonstrated how NIR-absorbing layers can boost power conversion
efficiency while improving thermal stability, key to extending the lifespan of
solar modules. Additionally, governments are increasing investments in green
energy R&D and infrastructure. For example, the European Union’s
Horizon Europe program, Japan’s Green Innovation Fund, and India’s
National Solar Mission support innovations in solar materials, including
NIR-responsive coatings and films. These developments, coupled with rising
solar installations in Asia-Pacific, North America, and the Middle East, are
fueling consistent demand for advanced NIR materials that improve both efficiency
and durability in renewable energy systems. As a result, the photovoltaics
sector is emerging as a strong growth driver for the global NIR absorbing
materials market.
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Near Infrared Absorbing Materials Market”
Global Near
Infrared Absorbing Materials Market is segmented into material, function, end
use industry, regional distribution, and company.
Based on
function, Absorption emerged
as the fastest growing segment in the global market for Near Infrared Absorbing
Materials in 2024. This is due to its wide-ranging
applicability across high-demand sectors such as electronics,
telecommunications, defense, and photovoltaics. Materials with strong NIR
absorption capabilities are critical in enhancing device performance by
minimizing signal interference, reducing thermal buildup, and improving sensor
accuracy. These materials are increasingly used in optical filters, biometric
sensors, IR-blocking films, anti-counterfeiting packaging, and camouflage
coatings, technologies that are expanding rapidly alongside advancements in
smart electronics, fiber-optic communication, and surveillance systems.
Additionally, as industries shift toward energy-efficient and miniaturized
components, the need for precise NIR light management intensifies, further
accelerating the adoption of absorption-focused materials over other functional
categories like high transparency and heat resistance.
Based on Region, the Asia Pacific emerged as the fastest
growing region in the global market for Near Infrared Absorbing Materials in
2024. This
is due to a combination of strong manufacturing capacity, government-backed
semiconductor and electronics initiatives, and rising demand across end-use
sectors. Countries such as China, India, South Korea, and Japan are
heavily investing in 5G/6G infrastructure, smart electronics, automotive
innovations, and renewable energy systems, all of which rely on NIR-responsive
technologies. For instance, India’s Production-Linked Incentive (PLI) schemes
and China’s “Made in China 2025” policy have significantly boosted domestic
production of optoelectronic components and advanced materials. South Korea’s
K-CHIPS Act and Japan’s Green Innovation Fund are further propelling research
and development in NIR-integrated photonic systems. The region also benefits
from a robust supply chain and cost-effective labor, making it attractive for
large-scale production of NIR films, coatings, and sensors. As consumer
electronics adoption rises and smart infrastructure expands, Asia-Pacific
continues to lead in innovation and volume demand, driving its rapid growth in
the global market.
Major companies
operating in Global Near
Infrared Absorbing Materials Market are:
- 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
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"The
global growth of the Near Infrared (NIR) absorbing materials market reflects a
broader shift toward intelligent, energy-efficient, and sensor-driven
technologies. What makes this market distinct is its convergence across
critical sectors ranging from defense to digital health and smart
infrastructure. As governments double down on semiconductor independence,
renewable energy, and photonics innovation, NIR materials are no longer niche, they
are foundational. Their adaptability in next-gen devices, sustainability
compliance, and role in data security position them as strategic enablers of
future technologies. This intersection of functionality, policy alignment, and
cross-sector demand is what uniquely accelerates the market’s expansion at a
global scale”, said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based management consulting firm.
“Near Infrared Absorbing Materials Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Material (Organic, Inorganic), By Function (High Transparency, Absorption, Heat Resistance), By End Use Industry (Electronics & Telecommunications, Industrial Sector, Defence & Security, Photovoltaics, Others), By Region and Competition, 2020-2030F”,
has evaluated the future growth potential of Global Near Infrared Absorbing
Materials Market and provides statistics & information on market size, structure,
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Near Infrared
Absorbing Materials Market.
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