The United States is expected to lead the epoxy mirror coating industry with a CAGR of 6%: Fact.MR
Mirror coatings market analysis by Fact MR identifies major segments in terms of resin, technology and application. The study aims to inform companies about the main trends influencing consumer behavior. It also offers recommendations to help them make informed decisions and overcome unforeseen challenges.
The award-winning consulting firm Fact.MR has recently published a new report on the global mirror coatings market for the forecast period 2021 to 2031. According to the study, the sale of mirror coatings The market is expected to grow at a healthy CAGR of over 6% through 2031, reaching over US$1 billion in valuation.
Historically, the market has seen credible gains, reaching nearly US$700 million in 2020, amid massive adoption in the renewable energy generation sector, particularly solar cell panel manufacturing. In 2019, global solar photovoltaic (PV) generation grew by 22%, or 131 TWh, representing the second absolute growth in generation of any renewable technology, according to an IEA report. Therefore, manufacturers are taking advantage of mirror coatings to improve power generation capabilities.
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Opportunities are also opening up in architectural applications, in a context of growing demand for commercial and residential infrastructure in a context of rapid urbanization.
- For example, Euramax offers many exterior building cladding solutions based on coated metal mirrors. It is the perfect alternative to polished stainless steel, eliminating corrosion issues, thus providing superior exterior durability.
- Likewise, Edmund Optics manufactures a wide range of parabolic, spherical and precision plane mirrors with several different substrate materials.
Key insights from market research
- By resin, acrylic mirror coatings will grow at a CAGR of over 6% through 2031
- The demand for polyurethane mirror coatings will see a notable increase, reaching nearly US$600 million by 2031
- In terms of technology, nano-mirror coatings are poised to be a lucrative revenue share
- Demand in architectural applications should remain particularly strong in a context of rapid infrastructure development
- The US market was valued at around US$190 million in 2020 and is poised for an impressive recovery
- China will experience a staggering CAGR of around 10%, surpassing the valuation of US$200 million by 2031
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“Leading mirror coating manufacturers are fulfilling the dual purpose of enhancing the aesthetic value of existing infrastructure while simultaneously delivering high reflective properties, prompting a flurry of product launches,” notes an analyst from Fact.MR.
Key Market Segments Covered
- Polyurethane mirror coatings
- Acrylic Mirror Coatings
- Epoxy mirror coatings
- Solvent-based mirror coatings
- Water-based mirror coatings
- Nano Mirror Coatings
- Mirror coatings for architectural applications
- Automotive and Transportation Mirror Coatings
- Mirror coatings for decorative applications
- Mirror coatings for other applications
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- North America
- The rest of Europe
- Asia Pacific
- Australia and New Zealand
- South Korea
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of MEA
Major manufacturers of mirror coatings include Arkema Group, Ferro Corporation, Casix Inc., Mader Group, Guardian Glass, Cemex SAB, Diamon Fusion International Inc., FENZI SpA, Glas Trosch Holding AG, Pearl Nano LLC, The Sherwin-Williams Company , Vitro Architectural Glass, Zhejiang Hongding Industrial Co. Ltd. and Tianjin Xin Lihua Color Materials Co. Ltd.
- Vitro Architectural Glass offers Solarcool® and Vistacool® reflective coated glass solutions that not only provide high aesthetic value, but also provide high reflective properties when applied to the first surface.
- Likewise, Glas Trosch Holding AG offers the HY-TEC GLASS range of anti-reflective glass and mirror glass sheets respectively. Some of its product lines include LUXAR® Class anti-reflective glass and SPIMROR glass.
- Arkema group
- Ferro Company
- Casix inc.
- Mader Group
- Guardian Glass
- Cemex SAB
- Diamon Fusion International Inc.
- FENZI SpA
- Glas Trosch Holding AG
- Pearl Nano LLC
- The Sherwin-Williams Company
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More valuable information available
Fact.MR, in its new offering, presents an unbiased analysis of the mirror coatings market, showcasing historical demand data (2016-2020) and forecast statistics for the period 2021-2031. The study discloses essential market insights based on resin (polyurethane, acrylic and epoxy), technology (solvent-based, water-based and nano coatings) and application (architecture, automotive and transport, decoration and others), in five major regions of the world (North America, Europe, Latin America, Asia-Pacific, Middle East and Africa).
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