Rapid industrialization and colossal infrastructural developments ranging across various emerging economies are likely to contribute significantly to the requirement for flat glass coatings during the forecast period. Increasing development and construction, and funds to fuel the same on account of growing urbanization and large infrastructural plans will continue to augment market growth. Government initiatives to expand and develop transportation, advanced renewable energy and improved social and commercial infrastructure will further supplement the expansion. Sprouting green commercial architecture, particularly in North America, Asia Pacific, and the Middle East and Africa are anticipated to fuel demand for flat glass coatings over the forecast period.
The rise in demand for decorative products is anticipated to boost the global flat glass coatings market during the forecast period. Demand for decorative mirrors is expected to increase in beauty and cosmetics, architecture, and other applications. The rise in a number of architectural structures is projected to augment the flat glass coatings market in the near future. An increase in disposable income and changing lifestyles are factors driving the flat glass coatings market. Demand for solar panels is rising owing to the growth in awareness about renewable energy resources. This, in turn, is expected to trigger the flat glass coatings market in the next few years. Demand for nanocoatings is anticipated to rise in automotive applications. However, the high cost of nanocoatings is likely to hamper the flat glass coatings market during the forecast period.
Drivers:
• The surge of flat glass coatings used in the commercial and residential construction sector
• Increasing consciousness to promote sustainability and thus the demand for solar power and automotive application
Opportunities:
• Expansion of the construction industry
• Increasing demand for green infrastructure
Challenges:
• Strict government regulations and policies
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Market Segmentation:
By Resin Type
• Polyurethane Resin
• Epoxy
• Acrylic
• Others
• Alkyd Resin
• Silicone Resin
By Technology
• Solvent-Based Coatings
• Water-Based Coatings
• Nano Coatings Technology
Water-based coatings were estimated as the largest technology segment. Water-based has numerous added advantages over solvent-based coating technology. Solvent-based coatings possess harmful Volatile Organic Compounds (VOCs), which are emitted into the environment. As a result, regulatory authorities have laid several stringent regulations for manufacturers.
By Application
• Mirror
• Silver
• Aluminum
• Solar Power
• Photovoltaic Solar Power System
• Concentrated Solar Power System
• Architectural
• Automotive & Transportation
• Decorative
• Others
Mirror was estimated as the largest application segment of the flat glass coatings market. Mirrors are used widely across applications in beauty, architectural, automotive, and decorative applications. Moreover, the growing demand for smart mirrors is likely to drive the market over the forecast period. Smart mirrors act as an effective substitute for rear-view mirrors in automobile applications. They offer integrated GPS navigation, backup camera, and Bluetooth connectivity which aids effectively in driving the vehicle.
By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Rest of the World
North America is projected to hold a higher share of the flat glass coatings market, followed by Asia Pacific and Europe, during the forecast period. The demand for flat glass coatings in North America is rising in decorative applications. Demand for flat glass coatings in decorative and mirror applications is expected to be high in the Asia Pacific. China and India are estimated to constitute a prominent share of the flat glass coatings market in the region in the near future. The flat glass coatings market in Latin America and Middle East & Africa is likely to expand at a moderate pace in the near future.
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Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
FutureWise Takeaways
• Growth prospects
• SWOT analysis
• Key trends
• Key data points affecting market growth
Objectives of the Study:
• To provide an exhaustive analysis on the global flat glass coatings market by resin type, by technology, by application and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the rest of the world.
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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