Feb 11, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Flat Glass Coatings Market.
It was estimated prior to this unanticipated outbreak that the Flat Glass Coatings Market is likely to witness an impressive CAGR of 22.2% during the forecast period. The increasing demand for solar energy in emerging economies and the preference for solar energy in residential applications have immensely contributed towards the growth of the solar PV glass market across the globe, which, in turn, bolsters the demand for flat glass coatings during the forecast period. Further, the high consumption of mirror coatings in architecture, beauty & cosmetics, decoration/kitchen is propelling the market for flat glass coatings in the Asia-Pacific region.
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Flat glass coatings are metal oxide coatings applied on the glasses to make it much durable and glossy in nature. Polyurethane resin, epoxy, acrylic, and others are the materials used in the coatings.
Flat glass coatings are coated with the technologies of solvent-based coating, water-based coating, and nano coating technology. Mirror, solar power, architecture, automotive, decorative, and others are some of the application areas where flat glass coatings are used.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the resin type, the market is segmented as polyurethane resin, epoxy, acrylic, and others. The polyurethane resin segment is estimated to register the highest growth during the forecast period. Polyurethane resin-based coatings are suitably used where supreme performance is required, such as in solar panels, greenhouse buildings, and space shuttles. Polyurethane resins also find applications in industrial and architectural coating systems as finish coats and are usually applied over the primer and intermediate coats to attain a long-term protective coating.
Based on the technology type, the market is segmented as solvent-based coatings, water-based coatings, and nano coatings technology. The nano coatings segment is expected to grow at the highest CAGR during the forecast period. The growing automotive and electronic industries are estimated to substantially contribute to the growth of the nano coatings market in the coming five years. Development in the coatings sector along with rising demand and urbanization in BRIC countries has been underpinning the global nano coatings market in the past few years. The increasing preference for advanced materials in the automotive industry has led to a rise in nanotechnology R&D, which will, in turn, embolden the growth of the nano coatings market.
Based on the application type, the market is segmented as mirror, solar power, architectural, automotive & transportation, decorative, and others. Mirrors find all the major applications across subsegments, such as architectural, automotive & transportation, beauty & cosmetics, and decorative. Despite the consumption of flat glass being more in the architectural application, the penetration of coatings in the mirror application remains very high.
In terms of regions, the Asia-Pacific’s flat glass coatings market is estimated to witness the highest growth during the forecast period owing to the increasing demand for flat glass coatings from countries such as India, China, South Korea, Vietnam, Taiwan, and Singapore. The strong demand in the Asia-Pacific region is the prime driving factor for the global flat glass coatings market. China will command the demand for flat glass coatings in the region driven by its increased industrial production. The country is also among the largest consumers of flat glass coatings at the global front. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key players operating in the global Flat Glass Coatings market are-
- Anhui Sinograce Chemical
- Advanced Nanotech Lab
- Apogee Enterprises (Viracon)
- Bee Cool Glass Coatings
- CCM GmbH
- Nippon Paint
- Nano-Care Deutschland
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Flat Glass Coatings analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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