Mirror Coatings Market by Resin Type (Polyurethane, Epoxy, Acrylic), Technology (Water-based, Solvent-based, & Nanotechnology-based coatings), Substrate (Silver, Aluminum), End-Use Industry, & Region – Global Forecast to 2026

2021-10-14
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Published : Oct-2021
No. of Pages : 208
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“Mirror coatings market is projected to register a CAGR of 5.3%  between 2021 and 2026.”

The global mirror coatings market is projected to grow from USD 642 Million in 2021 to USD 829 Million by 2026, at a CAGR of 5.3% during the 2021-2026 period. The demand of mirror coatings is rapidly increasing in architectural, decorative and solar power applications, especially in the APAC region.

The driving factors for the mirror coatings market is the increase in urbanization and income level. The growth in industries like architectural and automotive & transportation is helping in growth of mirror coatings market. Drying and curing processes are highly time-consuming for water-based coatings becoming a restraint in the development of mirror coatings market.

“Solar Power is projected to be the fastest-growing end-use industry of mirror coatings market.”

Mirror coatings are used in various solar power equipment such as solar thermal collectors and CSP plants. Solar power is a high-value and emerging end-use industry for mirror coatings. These coatings are used to optimize solar power conversion and provide long-term protection against environmental hazards. For this application, extra-clear glass with low iron oxide content is preferred owing to its high transparency and energy transmittance. The concentrated production of energy from sunshine is one of the greatest discoveries of modern science. This has changed the era.

“Silver-based coatings is the largest substrate segment of the mirror coatings market.”

Silvering is the chemical process of coating glass with a reflective substance. Silver mirror coatings offer the highest reflectance in comparison to other substances. Silver mirror coatings are preferred in the architectural, automotive & transportation, and decorative applications because they provide a warmer image; an aluminum mirror produces a sharper image. Manufacturers use a basecoat and topcoat (multilayer) based on different resins such as polyurethane, epoxy, and acrylic to protect the silver layer from dust, rain, scratching and tarnishing.

“APAC is the largest and fastest-growing market for mirror coatings market during the forecasted period.”

APAC is the largest and fastest-growing mirror coatings market. It is projected to register the highest CAGR during the forecast period in terms of value and volume both. The market is expected to witness significant growth in architectural, automotive & transportation, and solar power sectors in countries such as China, India, and South Korea. The growth of these industries is influencing the growth of the mirror coatings market.

Extensive primary interviews have been conducted, and information has been gathered from secondary research to determine and verify the market size of several segments and sub-segments.

Breakdown of Primary Interviews:

  • By Company Type: Tier 3 – 46%, Tier 2 – 36%, and Tier 1 – 18%
  • By Designation: Directors – 27%, C Level – 18%, and Others – 55%
  • By Region: APAC – 45%, North America – 18%, Europe – 9%, South America – 9%, and Middle East & Africa – 9%

The key companies profiled in this report are FENZI Group (Italy), Tianjin-Xin-Lihua-Color-Matterials(NBC) (China), The Sherwin Williams Company (US), CASIX (China), Ferro Corporation (US), Glas Trösch Holding AG (Switzerland), General Optics (Asia) Limited (India), Newport Thin Film laboratory (US), Grincoat Company ltd. (Taiwan), Dynasil Corporation (US), AGC Inc (Japan), Evaporated Coating, Inc (US), AccuCoat Inc (US), Jenoptik AG (Germany), ASML Berlin (Berliner Glas) (Germany), Guardian Industries (US), JML Optical (US), The Mader Group (France), Ophir optics group (Israel), and Saint Gobain (France)

Research Coverage:

The report segments the Mirror coatings market and forecasts its size, by volume and value, based on Region (APAC, North America, Europe, South America and the Middle East & Africa), by Resin Type (Polyurethane, Epoxy, Acrylic & others), Technology (Water-based, Solvent-based, & Nanotechnology-based coatings), Substrate (Silver, Aluminum and others) End-Use Industry (Architectural, Automotive & Transportation, Decorative, Solar Power & others). The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the mirror coatings market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.

Reasons to Buy the Report

The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.

Filed in: Chemicals
Publisher : marketsandmarkets
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