Mirror Coatings Market to Reach USD 1.10 Billion by 2028 |

Pune India, April 05, 2022 (GLOBE NEWSWIRE) — The world mirror coatings market The size is expected to reach USD 1.10 billion by 2028 and grow at a CAGR of 7.2% during the forecast period. Fortune Business InsightsMT presented this information in its report entitled, “Mirror Coatings Market, 2021-2028”. The demand for the use of mirror coatings is increasing rapidly due to the growth of the automotive and transportation, architectural, decorative mirror, and solar energy industries.

Increased demand from the construction industry and growing uses in the solar energy industry are propelling the market forward. The market for these coatings is expected to grow over the projected period owing to increased demand from water and wastewater treatment plants. The market size stood at USD 0.63 billion in 2020 and USD 0.67 billion in 2021.

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List of Mirror Coatings Market Key Companies:

  • Sherwin-Williams Company (Ohio, USA)
  • Casix (Fuzhou, China)
  • Fenzi (Milan, Italy)
  • JENOPTIK AG (Jena, Germany)
  • Dynasil Corporation (Massachusetts, USA)
  • Ferro Corporation (Ohio, USA)
  • North American Coating Laboratories (Ohio, USA)
  • Reynard Corporation (California, USA)
  • ZEISS International (Oberkochen, Germany)
  • Color materials Tianjin Xin Lihua (Tianjin, China)
  • Abrisa Technologies (California, USA)
  • AccuCoat Inc. (New York, USA)

Impact of COVID-19-

Pandemic-related disruptions affected market dynamics in 2020-2021

The COVID-19 pandemic has wreaked havoc on all regions, industries, and facets of life, and the mirror coatings industry is no exception. The emergence of COVID-19, along with the accompanying economic crisis, has impacted most major end-use industries, including construction, automotive, and solar energy, to name a few. name a few. Due to the strict restrictions and restricted order intake, several coatings companies have reported a reduction in production capacity and even the temporary closure of manufacturing plants around the world.

Due to market uncertainty, several industrial and end-use industries have faced unprecedented hurdles at present. In addition, trade restrictions imposed by several countries, as well as a shortage of workers and freight containers, have compounded the problems, causing supply chain delays for manufacturers and end users.

Report cover-

The market research examines the industry in depth, focusing on critical elements such as the competitive landscape, products, and industry leading products. It also provides market trends and highlights important industry developments. The study includes different variables that have contributed to the growth of the market in recent years, in addition to the factors listed above. It examines the latest market dynamics and opportunities in the industry, along with historical data and revenue growth estimates at the global, regional and country levels.

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Drivers and Constraints-

Market growth will be driven by growing demand from the construction industry

Over the past few decades, the construction industry has grown rapidly in many parts of the world. Glass architecture has become a symbol of progress in many countries, with people seeing these structures as symbols of luxury and wealth. Mirror coated glass is rapidly being used in the construction industry as an insulation material, structural component, exterior glazing material, and coating material, among others, in addition to being used as a decorative element.

Mirror coatings reflect light well while protecting coated surfaces from chemical degradation and abrasion. By retaining the color, durability and texture of architectural structures, these coatings reduce maintenance costs and extend the life of the coated surface. Over the projected period, the global construction industry is expected to grow significantly, especially in the growing Asia-Pacific countries.

Growing environmental concerns are expected to lead to an increase in innovative materials such as these coatings used in new residential and commercial construction. More building materials coated with these coatings, especially glass, are expected to be used more frequently during construction activities as the adoption of green technologies in construction will aid in the growth of the mirror coatings market.

Regional outlook-

The Asia-Pacific market will grow rapidly

In 2020, the Asia-Pacific market was worth $0.29 billion. The Asia-Pacific market is expected to grow rapidly owing to increased demand from the construction and infrastructure development sectors. Emerging economies like China and India, along with other Southeast Asian countries, are expected to invest heavily and undertake huge infrastructure transformations during the forecast period.

The Asia-Pacific region is now home to more than 60% of the world’s population, and people’s purchasing power and standard of living have improved significantly over the past decades. This trend is expected to continue over the projected period, leading to increased demand for new residential and commercial buildings, as well as other infrastructure projects. Mirror coatings are expected to gain popularity due to their widespread use in the construction industry. With the rapid growth of the construction sector in the region, the market is likely to grow.

The North American automotive industry is expected to grow rapidly, propelling the mirror coating market. Sales of electric cars have been growing rapidly in recent years in the United States, and this trend is expected to continue during the forecast period. As the demand for electric vehicles increases in the consumer and commercial vehicle segments, the automotive industry is likely to grow.

The European market is likely to grow due to increased demand from the automotive industry. The European automotive industry currently provides a significant share of EU GDP and is expected to do so in the future. Europe has around 298 car production plants, according to the Association of European Automobile Manufacturers, with major automakers including Volkswagen, BMW, Renault and Peugeot.

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Competitive Landscape-

Companies will focus on investing in R&D initiatives

Most multinational companies have merged their manufacturing and commodity distribution businesses to maintain product quality and expand their geographic reach. This provides companies with a cost saving advantage, allowing them to increase their profit margin. To stay competitive and meet changing end-user expectations, companies often prioritize R&D initiatives to manufacture new products. Research into innovative materials that combine multiple properties is expected to be widely used in industry over the next few years. Casx, Sherwin-Williams Company, JENOPTIK AG, Fenzi, and Dynasil Corporation are some of the major players in the global market.

Contents

  • introduction
    • Search scope
    • Market segmentation
    • Research Methodology
    • Definitions and assumptions
  • Abstract
  • Market dynamics
    • Market factors
    • Market constraints
    • Market opportunities
    • Emerging trends
  • key ideas
    • Main emerging trends – for main countries
    • Porter’s analysis of the industry
    • Regulatory analysis
    • Recent Industry Developments – Policies, Partnerships, Launches of New Types of Resins, and Mergers & Acquisitions
  • Qualitative Insights – Impact of COVID-19 on the Global Mirror Coatings Market
    • Supply chain challenges
    • Measures taken by government/companies to overcome this impact
    • Potential opportunities due to the COVID-19 outbreak
  • Global Mirror Coatings Market Analysis, Outlook and Forecast, 2017 – 2028
    • Main results/summary
    • Market size estimates and forecasts
      • By type of resin (value)
        • Polyurethane
        • Epoxy
        • Acrylic
        • Others
      • By formulation technology (value)
        • Solvent based
        • water-based
        • Others
      • By end-use industry (value)
        • Architectural
        • Automotive and transportation
        • Solar energy
        • Decorative
        • Others
      • By region (value)
        • North America
        • Europe
        • Asia Pacific
        • Latin America
        • Middle East and Africa

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Industry Developments-

June 2020: Scientists and engineers at NASA’s Goddard Space Flight Center (GSFC) have produced telescope mirror coatings with the highest reflectivity ever documented in the far ultraviolet (FUV) spectral region. The more reflective a telescope mirror is at far ultraviolet (FUV) wavelengths, the better images it can acquire.

Read related information:

powder coating market Analysis of the size, share and impact of COVID-19, by resin (thermosetting {polyester epoxy, polyester, epoxy, polyurethane, acrylic and others} and thermoplastic {polyvinyl chloride (PVC), nylon, polyolefin and fluoride (PVF)} ), By coating method (electrostatic spray, fluidized bed and others), by application (appliances, automotive, architecture, furniture, agriculture, agriculture, construction and earthmoving equipment (ACE), general industries and others) and regional forecasts, 2021-2028

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