“North America has remained the primary consumer of flat glass coatings, and the U.S. leads from the front, with the developing automobile and construction sectors remaining vital contributors,” says a Fact.MR analyst.
/EIN News/ — United States, Rockville, MD: , June 20, 2022 (GLOBE NEWSWIRE) — According to Fact.MR’s (a market research and competitive intelligence provider) recently released report on flat glass coatings, the global market is poised to be worth US$ 2.16 Bn in 2022, and surge ahead at a CAGR of roughly 20.2% from 2022 to 2032. Increased demand for flat glass coatings from the solar power generation, mirror manufacturing, and automobile manufacturing industries is majorly driving market expansion.
There has been growing demand for smart mirrors, which, in turn, would require innovative glass coatings to go in sync with smart mirror coating requirements. Additionally, growing demand for sustainable energy, reduced carbon footprint, and favorable government regulations aimed at lowering fossil fuel usage are expected to move the solar power sector forward. As these coatings improve the overall efficiency and life of solar panels, demand is poised to grow at a rapid pace over the decade.
Flat glass coatings in solar projects are expected to be in high demand in the solar module manufacturing industry. Solar panels are becoming more popular as people become highly aware of sustainable energy sources. Besides, nano coatings are expected to become more popular in automotive applications as manufacturers continue to target end users and develop custom products suited to clients’ requirements.
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Key Takeaways from Market Study
- By resin type, polyurethane flat glass coatings are projected to provide an absolute $ opportunity worth US$ 6.16 Bn over the forecast period of 2022-2032.
- By product type, solvent based coatings accounted for 54.7% market share in 2022.
- Among the applications, demand for mirror coatings is anticipated to expand around 8.2X in market value by 2032.
- Architectural coatings are poised to create an absolute $ opportunity worth US$ 1.49 Bn by 2032.
- North America is set to hold around 28.3% share in the global flat glass coatings market by 2032.
- Europe is predicted to provide an absolute dollar opportunity worth US$ 2.62 Bn by 2032.
Arkema, Apogee Enterprises, Bee Cool Glass Coatings, DOW Corning, FENZI, Ferro Corporation, Sherwin-Williams Company, Vitro Architectural Glass, Nippon Paint, SunGuard, Hesse, Diamon-Fusion International, Nano-Care Deutschland, Sunguard, and Tribos Coatings are major manufacturers of flat glass coatings.
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Key Segments of Flat Glass Coatings Industry Survey
- Flat Glass Coatings Market by Resin:
- Polyurethane Flat Glass Coatings
- Epoxy Flat Glass Coatings
- Acrylic Flat Glass Coatings
- Other Resins
- Flat Glass Coatings Market by Product Type:
- Solvent-based Flat Glass Coatings
- Water-based Flat Glass Coatings
- Nano Flat Glass Coatings
- Flat Glass Coatings Market by Application:
- Mirror Coatings
- Solar Power