The global flat glass coatings market size is expected to reach USD 4.48 billion by 2025, according to a new study by Grand View Research, Inc. It is anticipated to register a 20.2% CAGR over the forecast period. Massive demand for mirror and glass facades from commercial and residential sectors coupled with adoption from automotive and transportation sector is likely to drive demand over the forecast period.
Rising adoption of solar installations along with demand for environment-friendly renewable sources of energy are anticipated to drive demand for solar panels, augmenting flat glass coatings market. Moreover, rising awareness for energy conservation, self-sufficiency, and favorable government regulations are anticipated to further drive demand from architectural applications over the years to come. Countries such as Italy, U.K., U.S., Japan, China, India, and Germany featuring unilateral legislations to the Kyoto Protocol, aimed at reducing the greenhouse gas (GHG) emissions is also anticipated to promote market growth.
Water-based technology is anticipated to maintain its dominance in terms of market share over the forecast period. Wide usage owing to its high strength and premium quality is anticipated to be the primary driving factor for this segment. Overall performance of coating primarily depends on utilization of raw materials such as pigments, resins, and additives. However, nano-based technology is expected to ascend at a promising rate in near future on account of growing preferences for advanced materials in the manufacturing industry.
Growing need for utilization of sustainable energy, reduction in carbon footprint, and favorable government policies targeted at reducing consumption of fossil fuel are likely to propel growth of the solar power sector. Solar module industry is anticipated to register major demand for flat glass coatings in solar projects.
Asia Pacific was the dominant regional segment and is expected to register the fastest volume-based CAGR of 19.9% over the forecast period. Rising infrastructural investments and favorable regulations are the major regional market drivers
China was the leading player on account of its burgeoning automobile industry, coupled with massive infrastructural investments targeted to meet needs from residential sector
Epoxy resins held a considerable revenue share on account of its unique properties such as mechanical strength, high thermal stability, electrical and heat resistance, adhesion, and mechanical resistance
Key participants in the global flat glass coatings market include Arkema Inc.; Fenzi Spa; Ferro Corporation; Hesse Gmbh & Co. Kg; The Sherwin-Williams Company; and Vitro, S.A.B. de C.V
In October 2016, Vitro, S.A.B. de C.V decided to expand its coating production capability along with the construction of MSVD glass coater. These coaters are utilized to produce low emissive, and performance and energy efficient glass.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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