Flat Glass Coatings Market To Hit Value .48 Billion By 2025
Posted by Mrudula Anil Karmarkar on April 6th, 2021
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.
Further key findings from the repot suggest:
Rising construction spending on account of growing urbanization and infrastructural plans from various governments will continue to augment market growth. Moreover, rapid developments in transport, renewable energy, social and commercial infrastructure, government accommodation, and defense infrastructure will further supplement the expansion. Rising green commercial building construction, particularly in North America, Asia Pacific, and Middle East and Africa are anticipated to fuel demand for flat glass coatings over the forecast period.
More number of buildings are adopting green initiatives to become sustainable. Glass facades are attaining massive popularity, particularly in the commercial building construction sector. Numerous technological innovations have improved the overall performance of glass in light transmission, thermal insulation, and modulating solar heat. In addition, innovations such as double glazed, solar control, and thermal insulation have also contributed essentially towards applications of glass in buildings.
Global demand for green buildings has grown significantly over the past few years. Green buildings serve various social, environmental, and economic benefits. Flat glass coatings play a vital role in reducing building operational costs. Thus, rise in construction of green buildings will directly contribute to rise in demand for flat glass coatings.
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The global market is highly competitive with the existence of key participants such as Arkema Inc.; Fenzi Spa; Ferro Corporation; Hesse Gmbh & Co. Kg; Dow Corning; and PPG Industries. Product innovation is likely to open up new opportunities over the next few years. This is also expected to impel overall competitiveness as manufacturers are striving to increase their production capacities and product portfolios.
Mirror was estimated as the largest application segment of the flat glass coatings market in 2017. Mirrors are used widely across applications in beauty, architectural, automotive, and decorative applications. Moreover, growing demand for smart mirrors is likely to drive the market over the forecast period. Smart mirrors act as an effective substitute for rear-view mirrors in automobile applications. They offer integrated GPS navigation, backup camera, and Bluetooth connectivity which aids effectively in driving the vehicle.
Grand View Research has segmented the global flat glass coatings market on the basis of resin, technology, application:
Flat Glass Coatings Resin Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Flat Glass Coatings Technology Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Flat Glass Coatings Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
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 Information:www.grandviewresearch.com
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About the AuthorMrudula Anil Karmarkar
Joined: July 2nd, 2020
Articles Posted: 851
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