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.
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Further key
findings from the repot suggest:
- 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 has segmented
the global flat glass coatings market on the basis of resin, technology,
application, and region:
Flat Glass Coatings
Resin Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- Polyurethane
- Acrylic
- Epoxy
- Others
Flat Glass Coatings
Technology Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- Solvent-based
- Water-based
- Nano-based
Flat Glass Coatings
Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- Solar Power
- Mirror
- Architectural
- Automotive &
Transportation
- Other
Flat Glass Coatings
Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Turkey
- Italy
- Netherlands
- Belgium
- Spain
- Asia Pacific
- China
- India
- Japan
- Malaysia
- Taiwan
- South Korea
- Vietnam
- Central & South America
- Brazil
- Chile
- Middle East & Africa
- Saudi Arabia
- South Africa
About Grand View Research
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.
For more info visit @ https://www.grandviewresearch.com
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