In terms of revenue, the Global Flat Glass Coatings Market is expected to reach 7455.8 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 20.50% from 2022 to 2028. The Global Flat Glass Coatings Market growth is attributed to the factors such as surging demand for solar energy, rising demand for decorative mirrors, as well as mounting preference for solar energy in residential applications. Moreover, an increase in disposable income and changing lifestyles are projected to drive the Flat Glass Coatings market growth over the forecast period.
- Under the resin segment, Polyurethane-based Flat Glass Coatings is projected to grow at a substantial Compound Annual Growth Rate (CAGR) over the forecast period owing to extensive use in several applications such as solar panels, greenhouses, and architectural systems.
- Water-based sub-segment held a significant market share in 2021 for Flat Glass Coatings Market. This is due to high adoption from end-use industries as well as various added advantages over solvent-based coating technology.
- North America is expected to witness significant growth during the forecast period. This is owing to the increasing construction industry in economies like U.S. and Mexico. Furthermore, rising urbanization and population in Mexico are also expected to stimulate the regional growth of the market.
Some of key players in Flat Glass Coatings Market include - 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.
In the past few years, Solar PV glass is developing increasingly and is becoming very useful for applications in the utility segment. The various factors that are contributing to the growth of the product to such a huge extent in the utility segment consist of the ease of use and installation and the reduction in its prices. Moreover, the preference for solar energy in residential applications is also increasing at its wildest level. Thus, consequently increasing the demand for solar panels, further increasing the demand for Flat Glass Coatings and driving the market over the forecast period.
Additionally, improvement in living standards and lifestyles has increased the demand for decorative mirrors. Furthermore, the rising disposable income is fueling the adoption rate of change in living standards and lifestyles, further increasing the demand for decorative mirrors. Thus, increasing the demand for Flat Glass Coatings and further boosting the Flat Glass Coatings Market growth.
Asia Pacific is expected to emerge as potential market for Flat Glass Coatings Market. This is due to the surge in demand for Flat Glass Coatings from several countries such as India, China, South Korea, Vietnam, Taiwan, and Singapore. Additionally, an increase in developments in the automobile and construction industries is also expected to fuel the product demand in the region over the forecast period.