Flat Glass Coatings Market
Flat Glass Coatings Market - Global Industry Assessment & Forecast
- By Resin Type Polyurethane, Epoxy, Acrylic, Others
- By Technology Solvent-Based, Water-Based, Nano Coatings
- By Application Mirror Coatings, Solar Power, Architectural, Automotive & Application, Decorative, Others
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2022 - 2028|
|Historical Years:||2016 - 2021|
|Revenue 2021:||1,986.2 Million|
|Revenue 2028:||7455.8 Million|
|Revenue CAGR (2022 - 2028):||20.8%|
|Fastest Growing Region (2022 - 2028)||Asia Pacific|
|Largest Region (2021):||Asia Pacific|
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Flat Glass Coatings Market: By Resin Type, Technology, Application, and Region
Global Flat Glass Coatings market is valued at 1,986.2 Million in 2021 and is projected to reach a value of 7455.8 Million by 2028 at a CAGR of 20.8% during the forecast period.
The growing construction spending due to rapid urbanization across the globe along with the infrastructural plans by governments worldwide are the major reasons for the Flat Glass Coatings growth. The rapid growth across industry verticals such as transport, social & commercial infrastructure, renewable energy, government accommodation, defense infrastructure, and others will also support the market growth in the years to come. In addition, the growing green commercial building construction projects across regions, are fuelling the growth of the Flat Glass Coatings market during the forecast period.
Flat Glass Coatings Market Size, 2021 To 2028 (USD Million)
The tremendous growth in the infrastructural developments across emerging economies worldwide is one of the key opportunities in the global Flat Glass Coatings market. Moreover, the increased demand for architectural glass & mirror in residential as well as commercial buildings are further estimated to drive the market growth during the forecast period. The high demand for flat glass coatings from automotive and transportation industry and solar power applications are presumed to enhance the market growth in the years to come. Besides, the stringent regulatory policies is major restraint in the growth of the Flat Glass Coatings market.
The global Flat Glass Coatings market is segmented on the basis of Resin Type(Polyurethane,Epoxy,Acrylic,Others),Technology(Solvent-Based,Water-Based,Nano Coatings),Application(Mirror Coatings,Solar Power,Architectural,Automotive & Application,Decorative,Others),Region(North America,Europe,Asia Pacific,Latin America,Middle East & Africa). Based on resin type, the market is segmented as polyurethane, epoxy, acrylic, and others. By technology, the market is segmented as solvent-based, water-based, and Nano coatings. By application, the market is segmented into Mirror Coatings, Solar Power, Architectural, Automotive & Application, Decorative, And Others.
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Acrylic to Continue Dominating the Market
In 2021, the acrylic category dominated the global Flat Glass Coatings market in terms of value. The category had more than 37% of the market revenue share in 2021. The bio-based acrylic resins are widely used due to the increased demand for eco-friendly products across the globe. Moreover, the rapid industrialization and urbanization has increased construction spending in emerging nations, which, in turn, has increased demand for acrylic resins in the industrial and architectural sectors. Besides, the polyurethane (PU) category is estimated to witness the fastest-growth in the global Flat Glass Coatings market. This is majorly owing to the wide usage of PU-based flat glass coatings across greenhouses, solar panels, and other architectural systems.
Water-based had a major share in Flat Glass Coatings Market
In 2021, the water-based category accounted for a major share in the global Flat Glass Coatings market. The water-based category had a share of more than 50% in terms of value in the same year. The water-based products comprise of numerous added advantages compared to solvent-based products due to which the water-based category had a major share. Besides, the nano-based technology is projected to be the fastest-growing category over the forecast period due to ongoing research & development activities and the growing consumer needs. The favourable growth across automotive and electronics manufacturing is further expected to boost the demand for the category over the coming years.
Mirror was the leader in the Flat Glass Coatings
The mirror category was dominant in the Flat Glass Coatings market in 2021. The segment had a revenue share of more than 40% in the same year. The wide use of mirrors across various applications such as architectural, beauty, automotive, and decorative. In addition, the increased demand for smart mirrors as a substitute for rear mirrors across automobile applications is one of the key reasons for the category growth. Smart mirrors offer integrated backup camera, GPS navigation, and Bluetooth connectivity. In addition, automotive and transportation category is estimated to record fastest growth over the forecast period. This is due to various applications of flat glass coatings in the automotive industry due to its performance and durability efficiency.
Asia Pacific Flat Glass Coatings Market to Grow at the Fastest CAGR
In 2021, Asia Pacific had its dominance in the global Flat Glass Coatings market with over 50% of the market revenue share in the same year. The developed and developing economies in Asia Pacific, such as China, Australia, South Korea, and Japan, are the major contributors to the regional market growth. In addition, the rapid development of construction and automobile industries in Asia Pacific are anticipated to boost the product demand during the forecast period.
Besides, North America is projected to witness substantial growth during the forecast period. The rapid increase of construction sector in the U.S. and Mexico along with the increased disposable income are the major factors for regional growth. The increased urbanization in Canada and Mexico along with the increased awareness for flat glass coatings among consumers are further estimated to enhance the market growth.
The global Flat Glass Coatings market is highly fragmented due to presence of numerous players across global as well as regional level. The product innovation in the market is likely to open up new opportunities over the upcoming years. The major players in the Flat Glass Coatings market are Fenzi, Arkema, Ferro, Vitro, Sherwin-Williams, Nippon Paint, Nano-Care Deutschland, Hesse, Tribos Coatings, Apogee Enterprises (Viracon), CCM GmbH, Glas Trösch, Nanoshine, Diamon-Fusion, Casix, Warren Paint & Color, Nanonix Japan, Anhui Sinograce Chemical, Yantai Jialong Nano Industry, Sunguard (Guardian Glass), Advanced Nanotech Lab, Pearl Nano, Nanotech Coatings, Bee Cool Glass Coatings, and DOW Corning
The Flat Glass Coatings is Segmented as Follows:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Frequently Asked Question
The global Flat Glass Coatings valued at 1,986.2 Million in 2020 and is expected to reach 7455.8 Million in 2028 growing at a CAGR of 20.8%.
The prominent players in the market are Fenzi, Arkema, Ferro, Vitro, Sherwin-Williams, Nippon Paint, Nano-Care Deutschland, Hesse, Tribos Coatings, Apogee Enterprises (Viracon), CCM GmbH, Glas Trösch, Nanoshine, Diamon-Fusion, Casix, Warren Paint & Color, Nanonix Japan, Anhui Sinograce Chemical, Yantai Jialong Nano Industry, Sunguard (Guardian Glass), Advanced Nanotech Lab, Pearl Nano, Nanotech Coatings, Bee Cool Glass Coatings, and DOW Corning.
The market is project to grow at a CAGR of 20.8% between 2021 and 2028.
The driving factors of the Flat Glass Coatings include
- Rising demand for architectural glass & mirror in residential and commercial buildings to drive the market growth
Asia Pacific was the leading regional segment of the Flat Glass Coatings in 2020.