Growing demand for mirror coatings

In recent years, the global mirror coatings market has witnessed an upward trend owing to the growing demand from automotive and construction industries. Mirror coatings find application in the automotive and transport sector in rear view mirrors and vanity mirrors of a wide range of cars. Additionally, the growing demand from the construction industry as a vital structural component, coating material, and insulation material is propelling the global mirror coating market towards a healthy expansion. Growing environmental concerns, emphasis on reducing maintenance costs, and stringent government standards related to sustainable construction are expected to create significant growth opportunities for the mirror coatings market. Notably, in the coming years, the market is expected to flourish with the increased application of these coatings in the construction activities of the residential sector.

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Demand for Polyurethane Mirror Coatings Will Soar Worldwide

There are different types of mirror coatings available in the market, namely polyurethane resin, epoxy resin, acrylic resin and others. Among these, the polyurethane segment occupies a significant share of the global market. Compared to other types, polyurethane tends to offer greater endurance and is very tough and flexible. Acrylic paint is non-porous which makes it easier to remove from the surface by simply wiping or scraping. However, polyurethane mirror coatings are highly resistant to abrasion, deterioration, weathering and corrosion. Accordingly, the application of polyurethane mirror coatings is expected to increase over the forecast period. Additionally, the use of polyurethane mirror coatings is expected to be higher in decorative mirrors, concentrated solar panels (CSP), and several architectural structures.

Growing demand for sustainable building practices paves the way for innovation

The global call to embrace sustainable building practices is poised to create new business opportunities in the mirror coatings market. Governments around the world have implemented strict policies that mandate the use of more environmentally friendly building materials. Hence, major players in the mirror coatings market are being driven towards intense innovation and product differentiation to manufacture low VOC (volatile organic compounds) green mirror coatings. Low VOC mirror coatings help to significantly reduce greenhouse gas emissions, adhering to best practices in sustainable building. In the near future, strong research and development towards greener mirror coatings is expected to positively influence strategic partnerships and innovation in the mirror coatings market.

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Availability of affordable resources to position Asia-Pacific as a promising region

Asia-Pacific has witnessed strong growth in its mirror coatings market due to increased usage in the construction, energy and transportation sectors. Major application areas for mirror coatings in the region include solar energy, transportation and automotive. Higher disposable income, promising government initiatives, and availability of low-cost labor are expected to fuel the growth and development of the mirror coatings market in APAC. Additionally, affordable production facilities have made China a preferred region in the APAC mirror coating market. As a result, major players from Europe and North America are expected to move their mirror coating production facilities to China.

Main market players

Prominent players operating in the global mirror coatings market are advancing towards strategic alliances, mergers & acquisitions, and partnerships. Arkema Group, The Sherwin-Williams Company, FENZI Group, Tianjin Xin Lihua Color Materials Co. Ltd., CASIX, Ferro Corporation, and General Optics Limited Lihua Color Materials are some of the major players in the mirror coatings market.

The global mirror coatings market is segmented as follows:
By type
• Polyurethane resin
• An epoxy resin
• Acrylic resin
• Others (alkyd resin and silicone)

By technology
• Water based coatings
• Solvent-based coatings
• Coatings based on nanotechnology

By request
• Architectural
• Automotive and transportation
• Decorative
• Solar energy
• Others

By Substrate
• Silver-based coatings
• Aluminum based coatings
• Other

By region
• North America
• Europe
• Asia Pacific

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