Global Flat Glass Coatings Market - 2020-2027
Coatings are useful on glass surfaces to offer special features to glass products. Flat glass is processed with coatings to provide certain qualities and properties, such as self-cleaning, water and dirt retardation, corrosion resistance, energy efficiency, increased durability, to the glass. Glass surface is exposed to vapors, which is fixed to the glass surface, thereby creating a coating. Coated glass is used in mirrors and other decorative applications.
The global flat glass coatings market size was worth US$ XX billion in 2019 and further predicted to reach US$ XX billion by 2027, at a CAGR of XX% during the forecast period (2020-2027).
The growth in demand for solar energy in developing economies and the preference for solar energy in housing applications have enormously contributed towards the growth of the solar PV glass market across the globe, which boosts the demand for flat glass coatings during the forecast period. Further, the high consumption of mirror coatings in architecture, beauty & cosmetics, decoration and kitchen is propelling the market for flat glass coatings in the Asia-Pacific region.
Rising Urbanization Propels The Flat Glass Coating Demand
Consider the current market, rising construction change on account of growing urbanization and infrastructural plans from various governments will continue to expand the market growth. Moreover, the developments in transport, renewable energy, social and commercial infrastructure, government space, and defense infrastructure will further augment the growth. Rising green commercial building construction to fuel the demand for flat glass coatings over the forecast period. The glass facades are attaining huge popularity, particularly in the commercial building construction sector. Furthermore, the numerous technological innovations have upgraded overall performance of glass in light transmission, thermal lining, and in modulating solar heat. And the innovations such as double glazed, solar control, and thermal insulation have also contributed essentially towards applications of glass in buildings further boost the need for flat glass coating in the global market during the forecast period.
Rise In Demand For Decorative Products
According to the chemical and material segment, rise in demand for decorative products is expected to boost the global flat glass coatings market during the forecast period. The demand for decorative mirrors is expected to increase in beauty & cosmetics, construction, and other applications. Futhermore, rise in number of architectural buildings is expected to enhance the flat glass coatings market in the coming years. Moreover, increase in disposable income and changing lifestyles are factors driving the flat glass coatings market. As the demand for solar panels is rising owing to the growth in awareness about renewable energy resources which is likely to trigger the flat glass coatings market during the forecast period.
COVID-19 Impact Analysis
COVID-19 pandemic affected the global economy in many terms, such as directly affecting production and demand, supply chain disruption, and financial impact. COVID-19 has directly impacted the manufacturers' supply chain across the globe and shut down the production facilities to minimize the risk of virus spread. The shutdown of solar panel industry and limited workforce during the beginning of the pandemic resulted in declining of solar energy sector, thus affecting the demand for glass coatings.
Based on the technology, the flat glass coatings market has been classified into solvent-based coatings, water-based coatings and nano coatings technology.
Nano Coating Technology Accounted For The Highest Market Share In The Global Market
In 2019, the growing automotive and electronic industries are estimated to significantly contribute to the growth of the nano coatings market in the coming years. Also, development in the covering sector along with rising demand and urbanization in BRIC countries has been supporting the global nano coatings market in the forecast period. Moreover, the increasing preference for advanced materials in the automotive industry has led to a rise in nanotechnology R&D, thus accelerating the growth of the nano coatings market. However, the nanocoatings segment is projected to expand at a rapid rate in the coming years.
Based on the application, the flat glass coatings market has been classified into mirror, silver, aluminum, solar power, photovoltaic solar power system, concentrated solar power system, architectural, automotive & transportation, decorative, and others.
Mirror is boosting the market share globally
In 2019, the mirror held the largest market share in the flat glass coatings market. It is utilized generally crosswise over applications in magnificence, building, car, and ornamental applications across the globe. Additionally, the developing interest for keen mirrors is probably going to drive the market over the measure time frame. Furthermore, the brilliant mirrors go about as a successful substitute for back view reflects in vehicle applications. However, they offer coordinated GPS route, reinforcement camera, and Bluetooth availability which helps adequately in driving the vehicle. Nano-based flat glass coatings have seen enormous development in the course of recent years by virtue of various innovative work exercises combined with growing customer needs.
Based on geography, the study analyzes the flat glass coatings market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
North America market is likely to rise at the fastest CAGR
The North America is the expected to be the fastest-growing regional market due to developing growth of division principally in U.S. Also, under the National Infrastructural Plan of Mexico, the government arranged a speculation from 2015 to 2018. However, this is expected to advance development for private and business structures. The general public development, urbanization, and rising disposable income in Mexico are relied upon to play critical provincial development drivers. Emerging automobile and construction sector is predictable to be the main factors motivating demand for these products during the forecast period.
The flat glass coatings market is highly competitive, owing to the presence of big food brands. The key flat glass coatings market players which are contributing to the growth of the global market include Arkema Group, Kerry Group, Leiber GmBH, Lallemand, Inc., Biospringer, DSM, Nippon Paint, and Nano-Care Deutschland among others. The major players are adopting new product launch and expansion strategies for substantial growth in the flat glass coatings market.
Overview: Arkema is engaged in specialty chemicals and advanced materials. The company offers a new meaning to materials by inventing or reinventing their design, their value and their destination. Arkema markets products of brands including ENFR, Altuglas, ArrMaz, ENFR, Bostik, Coatex And Coating resins. The company offers services to its customers across the globe. It has operations in Africa, Asia Pacific, Central and Eastern Europe, Latin America, Middle East, North America, and Western Europe. Arkema is headquartered in France.
Product Portfolio: The Company's portfolio comprises chemical, material products, and other services.
The global flat glass coatings market report would provide access to an approx. 48 market data table, 54 figures and 220 pages.
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