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Pune, India, March 06, 2023 (GLOBE NEWSWIRE) — The global flat glass coatings market size was valued at USD 1.96 billion in 2021 and is projected to grow from USD 2.22 billion in 2022 to USD 7.05 billion by 2029, exhibiting a CAGR of 18.0% during the forecast period. This information is published by Fortune Business Insights, in its report, titled, “Flat Glass Coatings Market, 2022-2029.”
The flat glass coatings market refers to the market for coatings that are applied to flat glass surfaces. These coatings serve a variety of purposes, including improving energy efficiency, reducing glare, enhancing aesthetics, and providing protection against damage from the elements.
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The market for flat glass coatings is driven by a number of factors, including the growing demand for energy-efficient buildings and the increasing use of flat glass in construction and automotive applications. The use of flat glass coatings can significantly reduce energy consumption in buildings by minimizing heat loss and reducing the need for artificial lighting.
List of Key Players Mentioned in the Report:
- Arkema S.A. (France)
- The Sherwin-Williams Company (U.S.)
- Nippon Sheet Glass Co., Ltd. (Japan)
- Guardian Glass (U.S.)
- Ferro Corporation (U.S.)
- Fenzi Group (Italy)
- Corning Inc. (U.S.)
- Vitro Architectural Glass (Mexico)
- Hesse GmbH & Co. KG (Germany)
- Viracon (U.S.)
Perfect Properties of Acrylic Resin Led to its Prime Share in the Market
Based on resin type, the market is segregated into acrylic, polyurethane, epoxy, and others. Acrylic segment held the largest share in market in 2021 and is predicted to continue its dominance by the end of forecast period owing to the usefulness of the resin.
Water-based Segment to Create Greatest Revenue Owing to its Environmental Compliance
By technology, the market is classified into water-based, solvent-based, and nano-coatings. The water-based segment is anticipated to remain in its dominant position throughout the forecast period, credited to lower VOC emissions, environment-friendly nature, and superior properties involving sturdiness, good adhesion, and others.
Increasing Demand from End-use Industries to Fuel Mirror Segment Growth
Based on application, the market is divided into mirror, solar power, architectural, automotive, decorative, and others. Amongst these, the mirror segment held a chief share in 2021.
Geographically, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Scope & Segmentation:
|Forecast CAGR||18.0 %|
|2029 Value Projection||USD 7.05 Billion|
|Flat Glass Coatings Market Size in 2021||USD 1.96 Billion|
|No. of Pages||147|
|Segments Covered||By Type, End-user and Regional Insights|
|Flat Glass Coatings Industry Growth Drivers||Increasing Construction Activities to Spur Demand and Supply of Materials|
|Rise in Demand from Solar Applications to Fuel Market Growth|
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Drivers & Restraints
The global flat glass coatings market is influenced by several drivers and restraints that impact the demand and growth of the market. Here are some of the key drivers and restraints in the flat glass coatings market:
- Increasing demand for energy-efficient buildings and green building standards drives the demand for coatings that improve energy efficiency and reduce heat loss.
- The growing use of flat glass in construction and automotive applications increases the demand for coatings that provide protection against damage from the elements and enhance aesthetics.
- Technological advancements in coatings formulations and manufacturing processes, make coatings more effective and affordable.
- Growing awareness about the benefits of flat glass coatings in terms of energy savings, reducing greenhouse gas emissions and improving indoor air quality.
- High costs are associated with flat glass coatings, which limits the adoption of these coatings in some markets.
- Limited awareness about the benefits of flat glass coatings, which may hinder demand in some regions.
- Fluctuations in raw material prices may impact the profitability of flat glass coatings manufacturers.
- Stringent environmental regulations related to the use of certain chemicals in coatings formulations, may limit the growth of the market.
Overall, the demand for flat glass coatings is expected to increase in the coming years, driven by the growing demand for energy-efficient buildings and the expanding use of flat glass in various applications. However, the market may face some challenges related to cost and environmental regulations, which may impact the growth of the market.
The flat glass coatings market is a global market that is segmented by region. Here are some regional insights on the flat glass coatings market:
- North America: The North American market for flat glass coatings is driven by the growing demand for energy-efficient buildings and the increasing adoption of green building standards. The United States is the largest market in the region, with a high demand for solar control coatings and low-emissivity coatings.
- Europe: The European market for flat glass coatings is driven by the growing demand for energy-efficient buildings and the increasing use of flat glass in automotive applications. The market is dominated by Germany, France, and the United Kingdom, with a high demand for solar control coatings and self-cleaning coatings. The increasing demand from prime nations comprising Germany and France is projected to amplify the utilization of flat glass coatings in Europe.
- Asia Pacific: The Asia Pacific market for flat glass coatings is driven by the rapid urbanization in the region and the increasing adoption of green building standards. China is the largest market in the region, with a high demand for low-emissivity coatings and self-cleaning coatings. The market size of flat glass coatings in Asia Pacific stood at USD 1.28 billion in 2021. Asia Pacific holds the largest flat glass coatings market share, and it is predicted to continue to do so throughout the forecast period.
- Latin America: The Latin American market for flat glass coatings is driven by the increasing demand for energy-efficient buildings and the expanding construction industry in the region. Brazil is the largest market in the region, with a high demand for solar control coatings and low-emissivity coatings.
- Middle East and Africa: The Middle East and Africa market for flat glass coatings is driven by the growing demand for energy-efficient buildings and the expanding construction industry in the region. The United Arab Emirates is the largest market in the region, with a high demand for solar control coatings and low-emissivity coatings.
Overall, the flat glass coatings market is expected to grow in all regions due to the increasing demand for energy-efficient buildings and the expanding use of flat glass in various industries.
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Procurements Instigated by Prime Companies to Endorse Market Growth
The dominating players in the market incessantly opt for proficient strategies to bolster their brand value as well as endorse the global market growth. One such effective strategy is procuring competitive companies and further safeguarding a profit for both companies. The flat glass coatings market is highly competitive, with a few major players dominating the industry. These players are focusing on product innovation, strategic partnerships, and expansion into new markets to maintain their competitive edge.
Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends- For Major Region
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights Impact of COVID 19 on Global Flat Glass Coatings Market
- Supply Chain Challenges
- Steps were taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Flat Glass Coatings Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- By Resin Type (Value)
- By Technology (Value)
- Water Based
- Solvent Based
- Nano Coatings
- By Application (Value)
- Solar Power
- By Region (Value)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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