Flat Glass Coatings Market by Resin Type (Polyurethane, Epoxy, Acrylic), Technology (Solvent and Water-Based, Nano Coatings), Application (Mirror, Solar Power, Architectural, Automotive & Transportation, Decorative), and Region - Global Forecast to 2022
The flat glass coatings market is projected to grow at a CAGR of 20.99% in terms of value between 2017 and 2022
The flat glass coatings market is projected to grow from USD 1,075.8 million in 2017 to USD 2,789.6 million by 2022, at a CAGR of 20.99% between 2017 and 2022. Growing demand from applications, such as mirror, solar power, architectural, automotive & transportation, and decorative, is expected to fuel the growth of the flat glass coatings market. Factors restraining the market growth include high prices and limited knowledge, among others. The water-based coatings require more drying and curing time as compared to solvent-based coatings. During high humidity, water will not easily evaporate, resulting in poor cure and decrease in performance. This factor acts as a restraint for many water-based coating formulators.
Based on technology, the water-based segment is expected to lead the flat glass coatings market during the forecast period
Based on technology, the water-based segment of the flat glass coatings is expected to have the highest market share, in terms of volume, during the forecast period. The quality and strength of coatings manufactured using water-based technology depend on the use of raw materials, such as resins, additives, and pigments. Water-based coatings are used as a topcoat in building and construction where cost is a prime factor. Whereas in automobiles, solar power, and mirrors, water-based coatings are used as basecoat as performance is a prime factor in these applications. Water-based coatings can be applied on flat glass surfaces through brushing, spraying, dipping, flowing, and rolling methods.
Based on application, the mirror coatings segment is expected to lead the flat glass coatings market during the forecast period
Based on application, the mirror coatings segment accounted for the largest share of 76.10% of the overall flat glass coatings market in 2016, in terms of volume. Mirrors are used across all the major applications, such beauty & cosmetics, architectural, decorative, and automotive & transportation. Though the consumption of flat glass is more in the architectural application, the penetration of coatings in the mirror application is also very high.
The Asia Pacific flat glass coatings market is projected to grow at the highest CAGR during the forecast period
Among regions, Asia Pacific is the fastest-growing market for flat glass coatings. This growth is mainly attributed to the region’s booming economies, such as China, India, Taiwan, Indonesia, Vietnam, and Malaysia. China leads the Asia Pacific flat glass coatings market in terms of demand. The growth of the flat glass coatings market in China can be attributed to the availability of cheap labor, easy availability of raw material, lower taxes, and less stringent environmental regulations, which work in favor of the flat glass coating manufacturers as these factors help in reducing the final price of flat glass coatings.
Breakup of Primary Interviews:
• By Company Type: Tier 1 – 65%, Tier 2 – 27%, and Tier 3 – 8%
• By Designation: C-level – 46%, D-level – 40%, and Others – 14%
• By Region: North America – 37%, Europe – 21%, Asia Pacific – 26%, South America – 8%, and Middle East & Africa – 8%
Arkema (France), FENZI (Italy), Ferro Corporation (US), Sherwin-Williams Company (US), Vitro Architectural Glass (Mexico), NIPPONPAINT (Japan), SunGuard (Guardian Glass) (US), Hesse (Germany), DIAMON-FUSION INTERNATIONAL (US), and Tribos Coatings (International) Ltd. (UK) are some of the key players operating in the flat glass coatings market.
This report provides detailed segmentation of the flat glass coatings market on the basis of resin type, technology, application, and region. With respect to resin type, the market has been segmented into polyurethane, epoxy, acrylic, and others. Based on technology, the market has been segmented into solvent-based, water-based, and nano coatings. Based on application, the market has been segmented into mirror, solar power, architecture, automotive & application, decorative, and electronics & appliances. Based on region, the market has been segmented into Asia Pacific, Europe, North America, South America, and Middle East & Africa.
Reasons to Buy the Report
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market share analysis of top players in the flat glass coatings market, value chain analysis, and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the flat glass coatings market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on flat glass coatings offered by the top players in the flat glass coatings market
Product Development/Innovations: Detailed insights on the upcoming technologies, research & development activities, and new product launches in the flat glass coatings market
Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the market for flat glass coatings across varied regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the flat glass coatings market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the flat glass coatings market