According to the latest industry analysis by Fact.MR, the global flat glass coatings market is expected to reach US$ 2.16 Billion in 2022 and grow at a compound annual growth rate (CAGR) of about 20.2% from 2022 to 2032, according to a recent report on the subject published by Fact.MR, a supplier of market research and competitive intelligence. The market is expanding primarily due to increased demand for flat glass coatings from the solar power generation, mirror production, and automotive manufacturing sectors.
Demand for these coatings is expected to increase quickly over the next ten years as they extend the lifespan and overall efficiency of solar panels.
The solar module manufacturing industry is anticipated to have a significant need for flat glass coatings in solar projects. As more individuals become conscious of sustainable energy sources, solar panels are growing in popularity. Furthermore, as manufacturers continue to focus on end users and create customised solutions that meet the needs of their clients, nano coatings are anticipated to gain popularity in automotive applications. The increasing demand for smart mirrors necessitates the development of novel glass coatings to meet the demands of smart mirror coatings.
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.
Competition Landscape:
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.
Winning Strategy:
A vital strategy for flat glass coating suppliers has been to set up manufacturing facilities in high-potential locations and invest in the research and development of innovative coatings that are customized to the requirements of end users.
Manufacturers should obviously increase their production capacity, and, as a result, aim to offer innovative products that are tailored to the custom needs of end users, with focus on sustainability. Additionally, collaborations with end users should remain a vital strategy for manufacturers, as they would become aware of the needs of consumers, and, in turn, develop application-specific products, thereby catering to diverse customers across geographies.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the flat glass coatings market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of resin (polyurethane, epoxy, acrylic, other resins), product type (solvent-based, water-based, nano coatings), and application (mirror coatings, solar power, architectural, automotive, other applications), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
