Flat Glass Coatings Market: Introduction
Coatings are applied to glass surfaces to add special features to glass products. Coatings are generally applied to flat glass to provide certain properties and characteristics, such as self-cleaning, water and dirt resistance, corrosion resistance, energy efficacy, and enhanced durability. The glass is exposed to vapours which bind to it and form a coating. Coated glass is further used in decorative applications and mirrors. Glass surfaces with applied coatings create unique features that can make various products.
Flat glass with coating offers different properties and qualities, including water and dirt resistance, corrosion resistance and enhanced energy efficiency, improved durability, and many others. Exposed Flat glass surfaces to vapours can be led to the formation of coatings. Flat glass coatings can be made from a variety of resins, including acrylic resin, epoxy, polyurethane resin, and many others. The significant growth of the Flat Glass Coatings Market can be attributed to a rise in decorative products demand. Flat glass is used extensively in the construction of residential and commercial buildings.
The Global Flat Glass Coatings Market Forecast:
The Global Flat Glass Coating Market size was at US$ 2.17 Billion in 2020, and it is predicted that it will reach a valuation of US$ 22.22 Billion by the end of 2030 with an annual development rate (CAGR) of 26.19% between 2022 and 2030.
The Global Flat Glass Coatings Market Overview:
The increasing use of solar panels and the demand for environmentally friendly renewable energy sources are predicted to drive demand for solar panels. It will help to grow the Flat Glass Coatings Market.
Additionally, the growing awareness on self-sufficiency and energy conservation and favourable regulations from the government is expected to drive demand for architectural application in the coming years. Countries like Italy and Italy, the U.K., the U.S., Japan, China, India, and Germany with unilateral laws in the Kyoto Protocol aimed at cutting emissions of greenhouse gases (GHG) emissions. It is also expected to boost market growth.
Additionally, the demand for decorative goods is expected to increase in the Global Flat Glass Coatings Market over the forecast period. The need for decorative mirrors is anticipated to rise in beauty and cosmetics, architecture, and other applications. The increase in the number of architectural structures is expected to boost the Flat Glass Coatings Market in the upcoming years. A surge in disposable income, as well as lifestyle changes, are driving growth for Flat Glass Coatings Market. Glass facades are gaining immense popularity, especially in the commercial building construction industry.
Numerous technological advancements have enhanced the performance of glass in lighting transmission, modulating solar heat and thermal insulation. Additionally, innovations like solar control, double glazed, and thermal insulation have significantly explicitly contributed to the application of glass in building construction.
In addition, the increasing demand for utilization of sustainable energy sources, the reduction of carbon footprint, and favourable government policies aimed towards reducing the consumption of fossil fuels are expected to boost the development of the solar power industry. The solar module market is expected to see a rise in demand for flat glass coating in solar projects. The demand for solar panels has been growing because of the increasing cognizance on renewable energy sources. It is predicted to trigger the market for Flat Glass Coatings in the upcoming years. The demand for Nanocoatings is expected to grow in automotive applications.
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The Key Market Segmentation of the Global Flat Glass Coatings Market:
Global Flat Glass Coatings Market can be divided into Resin Types, Technology, Applications, and Geographical landscapes, etc.
By Resin Type:
- Polyurethane
- Epoxy
- Acrylic
- Others (Silicone and Alkyd)
The acrylic resin segment dominated the market and accounted for the largest share of over 39% in the global flat glass coating market in 2020. It will retain its dominance throughout the forecast period. Bio-based acrylic resins are eco-friendly; therefore, they are the most widely used resins globally.
By Technology:
- Solvent-Based
- Water-Based
- Nano Coatings
The water-based technology segment led the global flat glass coating market and accounted for the largest share of over 52% of the global revenue in 2020. This high share is attributed to its numerous added advantages over the solvent-based technology segment. Harmful Volatile Organic Compounds (VOCs) are emitted in the production of solvent-based products. Therefore, numerous Government authorities have laid stringent regulations regarding the production of solvent-based flat glass coatings.
By Application:
- Mirror Coatings
- Solar Power
- Architectural
- Automotive & Application
- Decorative
- Others
The mirror coating segment has been dominating the global flat glass coating market and held the largest revenue share of more than 40% in 2020. This high share is attributed to its rising demand from the automobile industry since it is used as smart mirrors, an effective substitute for rear mirrors.
However, the automotive and transport segment is anticipated to register substantial growth over the forecast period.
By Geographical Landscape:
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
The Asia Pacific dominated the global flat glass market and accounted for the largest share of the global revenue of over 55%. This high share is ascribed to the growing economies in APAC, such as Australia, Japan, China, and South Korea, which are expected to be the leading contributors to the regional market growth.
North America is also anticipated to witness significant growth in the forthcoming years. This development is credited to the rapid growth in the construction sector, majorly in the U.S. and Mexico. The factors playing important roles in stimulating market growth are urbanization, rising disposable income, and population growth.
Major Key Players:
- Arkema, Inc.
- Hesse Gmbh & Co. KG
- Nippon Paint Holdings Co., Ltd.
- Yantai Jialong Nano Industry Co., Ltd.
- The 3M Company
- The Sherwin-Williams Company
- Vitro S.A.B. De C.V.
- Fenzi Spa
- Ferro Corp.
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