Global Mirror Coatings Market Is Slated To Expand At Over 6% CAGR By 2031

According to the study, the market is anticipated to surge at a healthy CAGR of over 6% through 2031, reaching over US$ 1 billion in valuation.While mirror coatings have become highly popular amidst their extensive applications across such key industries as renewable energy generation, there are certain impediments to its expansion, particularly with respect to certain technologies.

Historically, the market posted credible gains, reaching nearly US$ 700 million in 2020, amid extensive uptake across the renewable energy generation sector, particularly solar cell panel manufacturing. As of 2019, global solar photovoltaics (PV) generation increased 22%, or 131 TWh, representing the second-largest absolute generation growth of all renewable technologies, according to an IEA report. Hence, manufacturers are leveraging mirror coatings to enhance energy generation capacities.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗮 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗼𝗳 𝗧𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁:https://www.factmr.com/connectus/sample?flag=S&rep_id=6156?PJ

Mirror coatings play a crucial role in enhancing the functionality and aesthetics of mirrors used in various applications, ranging from residential to commercial and industrial settings. These coatings are applied to the reflective surface of the glass to improve properties such as reflectivity, durability, and resistance to environmental factors. The mirror coatings market has witnessed significant growth due to the expanding construction and automotive industries, where mirrors are essential components. Additionally, technological advancements in coating materials and processes have contributed to the development of high-performance mirror coatings, driving market demand.

𝗠𝗶𝗿𝗿𝗼𝗿 𝗖𝗼𝗮𝘁𝗶𝗻𝗴𝘀 𝗠𝗮𝗿𝗸𝗲𝘁 𝗥𝗲𝗽𝗼𝗿𝘁 𝗔𝗹𝘀𝗼 𝗔𝗱𝗱𝗿𝗲𝘀𝘀𝗲𝘀:

Market Estimates and Forecasts (2016-2031)
Key Drivers and Restraints Shaping Market Growth
Segment-wise, Country-wise, and Region-wise Analysis
Competition Mapping and Benchmarking
Brand Share and Market Share Analysis
Key Product Innovations and Regulatory Climate
COVID-19 Impact on Mirror Coating Sales and How to Navigate
Recommendation on Key Winning Strategies

𝗛𝗼𝘄 𝗶𝘀 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝗱 𝗦𝗼𝗹𝗮𝗿 𝗣𝗼𝘄𝗲𝗿 𝗥𝗲𝗹𝗶𝗮𝗻𝗰𝗲 𝗛𝗲𝗶𝗴𝗵𝘁𝗲𝗻𝗶𝗻𝗴 𝗠𝗶𝗿𝗿𝗼𝗿 𝗖𝗼𝗮𝘁𝗶𝗻𝗴𝘀 𝗗𝗲𝗺𝗮𝗻𝗱?

Globally, solar energy deployment is surging rapidly. As per the Solar Energy Industries Association (SEIA), uptake of solar energy surged by 42% in the previous decade across the U.S. alone. As of 2020, over 230,000 Americans work in the solar industry at more than 10,000 companies.

Furthermore, the International Energy Agency (IEA) estimated that concentrated solar power generation increased by around 34% in 2019, resulting in a cumulative generation amount of 629 GW. Hence, demand for mirror coatings to manufacture solar cell panels is increasing, generating credible growth opportunities.

𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀 𝗳𝗿𝗼𝗺 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝘁𝘂𝗱𝘆

By resin, acrylic mirror coatings to expand at a CAGR of over 6% through 2031
Demand for polyurethane mirror coatings to experience noteworthy surge, reaching nearly US$ 600 million by 2031
In terms of technology, nano mirror coatings are poised to account for a lucrative revenue share
Demand across architectural applications is expected to remain especially strong amid rapid infrastructure development
The U.S. market was valued at around US$ 190 million in 2020, and is poised to experience an impressive upswing
China to experience a staggering CAGR of approximately 10%, surpassing US$ 200 million valuation by 2031

𝗞𝗲𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 𝗗𝗿𝗶𝘃𝗲𝗿𝘀:

Growing Construction Industry: The construction industry is a major driver for the mirror coatings market. As the construction of residential and commercial buildings continues to surge globally, the demand for mirrors, and consequently mirror coatings, in applications such as bathrooms, gyms, and decorative elements has seen a significant uptick.

Automotive Sector Expansion: The automotive industry is another key contributor to the mirror coatings market. Mirrors are integral components of vehicles, providing crucial visibility and safety features. Mirror coatings enhance the reflective properties of automotive mirrors, contributing to improved performance and aesthetics.

Advancements in Coating Technologies: Ongoing advancements in coating technologies have played a pivotal role in the growth of the mirror coatings market. Innovations in nanotechnology, thin-film coatings, and sustainable coating materials have led to the development of mirror coatings with enhanced durability, anti-reflective properties, and resistance to environmental factors.

𝗞𝗲𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝘀 𝗖𝗼𝘃𝗲𝗿𝗲𝗱

𝗥𝗲𝘀𝗶𝗻

Polyurethane Mirror Coatings
Acrylic Mirror Coatings
Epoxy Mirror Coatings

𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆

Solvent-based Mirror Coatings
Water-based Mirror Coatings
Nano Mirror Coatings

𝗔𝗽𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻

Mirror Coatings for Architectural Applications
Mirror Coatings for Automotive & Transportation
Mirror Coatings for Decorative Applications
Mirror Coatings for Other Applications

𝗠𝗶𝗿𝗿𝗼𝗿 𝗖𝗼𝗮𝘁𝗶𝗻𝗴𝘀 𝗠𝗮𝗿𝗸𝗲𝘁 - 𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲

Prominent mirror coating manufacturers are reliant on multiple expansion strategies which include new customized product launches, mergers & acquisitions and strategic collaborations with existing players among others.

In December 2020, Arkema Group collaborated with Cool Roof France, granting the latter access to its Kynar Aquatec® PVDF resin through a licensing agreement, enhancing delivery of high-performance building cooling solutions using reflective glass technology.

In April 2021, FENZI S.p.A announced an agreement with Arsenal Capital Partners in order to help raise additional capital to expand the company's flat glass processing business, permitting it to expand its geographical footprint and expand its core business.

𝗞𝗲𝘆 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗣𝗿𝗼𝗳𝗶𝗹𝗲𝗱

Arkema Group
Ferro Corporation
Casix Inc.
Mader Group
Guardian Glass
Cemex S.A.B
Diamon Fusion International Inc.
FENZI S.p.A
Glas Trosch Holding AG
Pearl Nano LLC
The Sherwin-Williams Company
Vitro Architectural Glass
Zhejiang Hongding Industrial Co. Ltd.
Tianjin Xin Lihua Color Materials Co. Ltd.

𝗖𝘂𝗿𝗿𝗲𝗻𝘁 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗡𝗲𝘄𝘀:

Several trends and developments may have shaped the mirror coatings market in 2023.

Focus on Sustainable Coating Solutions: The industry may have seen an increased focus on sustainable coating solutions for mirrors. Manufacturers could have explored the use of eco-friendly materials, water-based coatings, and processes that minimize environmental impact to meet the growing demand for sustainable building and automotive components.

Smart Mirror Technologies: The integration of smart technologies into mirrors could have influenced the market. Smart mirrors, equipped with features such as touch control, integrated lighting, and even display capabilities, may have driven the development of specialized coatings to enhance functionality while maintaining reflective properties.

Customization for Niche Applications: Mirror coatings may have become more specialized to cater to niche applications. For example, coatings designed for healthcare settings to provide antimicrobial properties, or coatings for security and surveillance mirrors with anti-scratch and anti-glare features, could have gained prominence.

Expansion in Emerging Markets: The mirror coatings market may have expanded its presence in emerging markets with rapid urbanization and infrastructure development. Increased construction activities in regions like Asia-Pacific and Latin America could have driven the demand for mirror coatings in residential and commercial applications.

𝗚𝗲𝘁 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁 𝗳𝗼𝗿 𝗦𝗽𝗲𝗰𝗶𝗳𝗶𝗰 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀: https://www.factmr.com/connectus/sample?flag=RC&rep_id=6156?PJ

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