About Mirror Coatings
Mirror coatings are protective coatings used to shield against chemical corrosion, abrasion, rusting, scratching, and others for mirror coatings products. Resin type such as polyurethane, epoxy, acrylic, and others are used for mirror coatings. Substrate used includes silver, as well as aluminium. Mirror coating is used for concentrating solar power, concentrating photovoltaic and solar thermal installations. Increasing use of mirror coating particularly in architectural and construction sectors have expected to grow mirror coating market with healthy CAGR. Hence, coating suppliers are investing more in research and development. For instance, in 2016, 3M had invested approximately 1.6 billion in research and development for coating segment only. Also, it has been observed that, rising demand from Asian countries and automotive sector for mirror coating is likely to boost market globally.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Million) |
CAGR | 7.12% |
The global mirror coatings market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of mirror coatings market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa Analyst at AMA Research estimates that United States, Asian and European Vendors will contribute the maximum growth to Global Mirror Coatings market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
FENZI S.p.A Via Trieste Zona Industriale (Italy), Vitro, S.A.B. De C.V. (Mexico), Ferro Corporation (United States), Arkema (France), The Sherwin-Williams (United States), Glas Trösch (Switzerland), Diamon-Fusion International, Inc (United States), CASIX, INC (China), Mader (Australia) and Pearl Nano (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Tianjin Xin Lihua Color Materials Co., Ltd (China) and High Ding Industrial (China).
Segmentation Overview
AMA Research has segmented the market of Global Mirror Coatings market by , Application (Architectural, Automotive & Transportation, Decorative, Solar Power (Concentrated Solar Power Systems, CSP Considerations) and Other) and Region.
On the basis of Type, Polyurethane are dominating the market in the year 2023On the basis of application, Architectural segment is dominating the market in the year 2023On the basis of geography, the market of Mirror Coatings has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Substrate, the sub-segment i.e. Aluminum will boost the Mirror Coatings market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Water-Based Coatings will boost the Mirror Coatings market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Resin Type, the sub-segment i.e. Polyurethane will boost the Mirror Coatings market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The increasing use of mirror coatings in solar power and the growing need of sustainable mirror coatings which are eco-friendly is expected to boost growth of the market over forecast period and Growing Use in Automotive & Transportation Sector
Market Growth Drivers:
Increasing Demand for Architectural Glass & Mirror particularly in Residential and Commercial Buildings, High Demand from APAC and Rising Focus on Concentrated Solar Power
Challenges:
Huge cost of silver coating used in the mirrors and Strict Rules and Policies and Environment Barriers
Restraints:
Disadvantages of Water Based Mirror Coatings
Opportunities:
Growing Demand for Natural, Low-Voc, and Sustainable Mirror Coatings
Market Leaders and their expansionary development strategies
In October 2020, Arkema acquired Prochimir and Lambson, a leading 3D printing, composites, inks and coatings company. This acquisition will contribute in further strengthening the specialties iof Arkema in the coatings market.
In September 2021, FENZI S.p.A launched AquaglassXpack, an innovative product line for water-based coatings paint for hollow glass. This water-based coating paint is designed for use on glass. Based on industry tests and client demand, it is ideal for reflecting surfaces with transparent, opaque, and metallic colours that are very resistant to scratches. It offers high performance with ease of use, providing hollow glass manufacturers with unparalleled benefits in high-speed production while maintaining high quality.
Key Target Audience
Mirror Manufacturers, Coatings Raw Material Suppliers, Mirror Raw Material Suppliers, Automotive Companies, Coating Formulation Technology Providers, Industry Associations, Nano Coating Technology Companies, Solar Panel Manufacturers, Chemical Companies, Decorative Mirror Manufacturers and Government, and Research Organizations & Associations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.