Flat Glass Coatings Market To Show Astonishing CAGR Growth, Due To Rising Construction Spending On Account Of Rapid Urbanization Across The Globe

 Flat Glass Coatings Market

 

 

Flat Glass Coatings Industry Overview

 

The global flat glass coatings market size is expected to reach USD 10.3 billion by 2030, registering a CAGR of 20.4% during the forecast period, according to a new study by Grand View Research, Inc. Rising demand for mirror and glass facades from the commercial and residential sectors coupled with growing product adoption in the automotive & transportation sector is likely to drive the market during the forecast period.

 

The growing demand for renewable sources of energy and the rising number of solar installations across the globe are likely to increase the adoption of solar panels; thus, augmenting the demand for flat glass coatings. Moreover, favorable government regulations and rising awareness regarding energy scrutiny are anticipated to drive the product demand in architectural applications over the coming years. Countries such as Italy, the U.K., the U.S., Japan, China, India, and Germany, which are part of the Kyoto Protocol, have been introducing legislation to reduce Greenhouse Gas (GHG) emissions. Such measures across countries are also anticipated to drive the demand for flat glass coatings.

 

Flat Glass Coatings Market Segmentation

Grand View Research has segmented the global flat glass coatings market based on resin, technology, application, and region:

 

Based on the Technology Insights, the market is segmented into Solvent-based, Water-based, Nano-based.

  • The water-based technology segment led the global market and accounted for a revenue share of more than 52.0% in 2021. Water-based products contain numerous added advantages over solvent-based products. Solvent-based coatings possess harmful Volatile Organic Compounds (VOCs), which are emitted into the environment.
  • Nano-based technology is estimated to be the fastest-growing technology segment during the forecast period on account of several research & development activities and rising consumer needs.
  • Solvent-based flat glass coatings comprise liquefying agents, which are designed to evaporate via a chemical reaction along with oxygen. Solvent-based coatings contain an added advantage over water-based coating such as they are susceptible to changing environmental conditions, such as humidity and temperature fluctuation.
  • Solvent-based coating technology is the most conventional technology for manufacturing flat glass coatings. Aliphatic hydrocarbons, lacquer thinner, toluene and xylene are solvents used in the process of manufacturing. The global solvent market for coatings has undergone a paradigm shift due to adverse effects on the environment because of volatile organic compounds in crude oil-based solvents.

 

Based on the Application Insights, the market is segmented into Solar Power, Mirror, Architectural, Automotive & Transportation, Other.

  • Mirror application segment led the global market and accounted for a revenue share of more than 40% in 2021. Mirrors are used widely across applications in beauty, architectural, automotive, and decorative applications.
  • Moreover, the growing demand for smart mirrors in the global market is likely to drive the market demand for flat glass coatings during the forecast period. The smart mirror acts as an effective substitute for the rear mirror in automobile applications.
  • The automotive & transportation segment has reached a valuation of USD 44.6 million in 2021 and is anticipated to emerge as the fastest-growing segment in terms of CAGR during the forecast period.
  • OEM automotive coatings and refinish coating segments are the major drivers for automotive coatings. Increasing automotive production in Brazil, India, China, Mexico & Korea along with increasing flat glass coatings consumption in major OEMs across the U.S., Japan, U.K., Germany, France & Italy is a key factor driving the market growth.
  • Demand for glass coating on solar panels has risen significantly on account of several benefits imparted by them onto the overall performance efficiency.  These anti-reflective coatings specially designed for photovoltaic applications are deposited on a single side.

 

Based on the Resin Insights, the market is segmented into PU, Acrylic, Epoxy, Others.

  • The acrylic resin segment accounted for the largest revenue share of more than 39.0% in 2021 and will retain its leading position throughout the forecast period. Bio-based acrylic resins are the most widely used resins due to the high demand for eco-friendly products.
  • Rapid urbanization and industrialization have led to a rise in construction spending in emerging nations, which, in turn, has resulted in the increased demand for acrylic resins in the architectural and industrial sectors.
  • The Polyurethane (PU) segment accounted for 34.93% of the market revenue share in 2021 and is anticipated to witness the fastest CAGR from 2022 to 2030 due to the wide usage of PU-based flat glass coatings in solar panels, greenhouses, and other architectural systems.

 

Flat Glass Coatings Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

The global flat glass coatings market is highly competitive. Product innovation is likely to open new growth opportunities over the next few years and is also expected to intensify the market competition as manufacturers are focused on increasing their production capacities while widening their product portfolios.

 

Some prominent players in the global flat glass coatings market include:

  • Arkema, Inc.
  • Fenzi Spa
  • Ferro Corp.
  • Hesse Gmbh & Co. KG
  • The Sherwin-Williams Company
  • Vitro S.A.B. De C.V.
  • Nippon Paint Holdings Co., Ltd.
  • Bee Cool Glass Coatings
  • Yantai Jialong Nano Industry Co., Ltd.
  • NanoTech Coatings
  • 3M
  • Gulbrandsen
  • Unelko Corporation
  • Apogee Enterprises, Inc.
  • PPG Industries Inc.

 

Order a free sample PDF of the Flat Glass Coatings Market Intelligence Study, published by Grand View Research.

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