November 29, 2022

The global flat glass coatings market size was valued at USD 1.96 billion in 2021. The market 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.”

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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.) 

Segments:

Perfect Properties of Acrylic Resin Led to 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 the 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 Huge Environmental Obedience

By technology, the market is classified into water-based, solvent-based, and nano coatings. Water-based segment is anticipated to remain in its dominant position throughout the forecast period due 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.

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Report Coverage:

The report highlights leading regions across the world to offer a better understanding of the user. Furthermore, the report provides insights into the latest industry trends and analyzes technologies deployed at a rapid pace at the global level. The report examines various paradigm shifts associated with the transformation of technology in the chemical & material sector. It further highlights some of the growth-stimulating factors and restraints, helping the reader gain in-depth knowledge of the market.

Driving Factors:

Rise in Demand from Solar Applications to Fuel Market Growth

Even though coated glass is expansively being utilized in the solar industry, the market is promptly expanding. The surging usage of coatings in solar glass panels is thrusting the market. Unstable inclination of consumers toward green and clean energy sources is increasing the demand for solar panels. This augmented the adoption of flat glass coatings.

Regional Insights:

Asia Pacific to Dominate Backed by Heavy Adoption of Product

The market size in Asia Pacific stood at USD 1.28 billion in 2021. Asia Pacific holds the largest flat glass coatings market share, and it is anticipated to endure to do so throughout the forecast period.

In North America, glass coatings are registering great usage rate as the demand for energy-efficient buildings is increasing. Moreover, nations and developed businesses in the region are majorly spending on solar power technologies to reduce their dependence on traditional energy sources.

The growing demand from prime nations comprising Germany and France is projected to amplify the utilization of flat glass coatings in Europe.

Competitive Landscape:

Procurements Instigated by Major Companies to Support Market Growth

The dominating players in the market incessantly opt for proficient tactics to bolster their brand value as well as promote the global market growth. One such effective plan is purchasing competitive companies and further ensuring a hefty profit for both involved companies.

Key Industry Development:

November 2021: Fenzi Group, a dominating adhesives and sealants producer for the glass industry, has declared the procurement of the Advanced Glass Technologies division of Johnson Matthey (JM) Advanced Glass Technologies (AGT).

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