Mirror Coatings Market by Resin Type (Polyurethane, Epoxy, Acrylic), Technology (Solvent and Water-Based, Nano Coatings), Substrate (Silver, Aluminium), Application (Architectural, Automotive & Transportation, Decorative, Solar Power)-Global Forecast to 2022
“The mirror coatings market is projected to grow at a CAGR of 7.60% in terms of value between 2017 and 2022”
The mirror coatings market is projected to grow from USD 618.4 million in 2017 to USD 892.0 million by 2022, at a CAGR of 7.60% between 2017 and 2022. The market includes mirror backing paints used in silver and aluminum mirrors. The growing demand for mirror coatings across various applications, such as architectural, automotive & transportation, and solar power is expected to fuel the growth of the mirror coatings market. Factors restraining the market growth include high prices of end products which are used in the solar power industry.
“Based on technology, the water-based segment is expected to lead the mirror coatings market during the forecast period”
Based on technology, the water-based segment of the mirror coatings is expected to account for the largest 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 activities, where cost is a prime factor. Water-based coatings are also used as a basecoat as performance is a prime factor in automobiles and solar power applications. Water-based coatings can be applied on mirror surfaces through brushing, spraying, dipping, flowing, and rolling methods.
“Based on application, the architectural segment is expected to lead the mirror coatings market”
Based on application, the architectural segment accounted for the largest share of the overall mirror coatings market in 2016, in terms of volume and value. The architectural application segment involves mirror used in windows, walls, doors, bathrooms, lifts, gyms, hotels, saloon shops, bars, hospitals, airports, museums, kitchens, kitchen, structure, and others. The architectural application segment led the mirror coatings market in APAC; due to the growing expenditure on commercial and residential buildings in the region.
“The mirror coatings market in Asia Pacific is projected to grow at the highest CAGR during the forecast period”
Among regions, Asia Pacific is the fastest-growing market for mirror coatings. The economic growth of emerging economies such as China, India, Taiwan, Indonesia, Vietnam, and Malaysia is driving the mirror coatings market in APAC. China leads the mirror coatings market in Asia Pacific in terms of demand. Factors such as the availability of cheap labor and raw materials, lower taxes, and less stringent environmental regulations are driving the market in China.
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), SunGuard (Guardian Glass) (US), Diamon-Fusion International (US), Pearl Nano (US) Mader (France), Tianjin Xin Lihua Color Materials (China), High Ding Industrial (Grincoat) (Taiwan), and Casix (China) are some of the key players operating in the mirror coatings market.
This report provides detailed segmentation of the mirror coatings market on the basis of resin type, technology, substrate, application, and region. Based on 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 substrate, the market has been segmented into silver and aluminum. Based on application, the market has been segmented into architectural, automotive & transportation, solar power, decorative, and others. 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 mirror 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 mirror coatings market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on mirror coatings offered by the top players in the mirror coatings market
Product Development/Innovations: Detailed insights on the upcoming technologies, research & development activities, and new product launches in the mirror coatings market
Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the market for mirror coatings across varied regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the mirror coatings market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the mirror coatings market
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