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The coated flat glass market size is forecast to increase by USD 20.05 billion and is estimated to grow at a CAGR of 6.8% between 2023 and 2028. The market is experiencing significant growth due to its increasing demand in the automotive industry for applications such as side and windshields. This trend is driven by the need for enhanced safety and fuel efficiency features in vehicles. Additionally, the recycling of glass waste material in the glass manufacturing process is another key factor fueling market growth. Furthermore, the increasing residential and commercial construction activities are contributing to the rising demand for coated flat glass in sectors such as architecture and solar energy. The recycling process reduces the environmental impact of glass production and lowers production costs, making coated flat glass a cost-effective and sustainable solution for various industries.
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The market is witnessing significant growth due to the increasing demand for energy-efficient and aesthetically appealing glass solutions in various industries. The market is segmented based on coating types, resins, technologies, and applications. Mirror coatings are used in the beauty and cosmetics industry for making vanity mirrors, while architectural applications dominate the market due to the rising trend of glass facades. Decorative and kitchen applications, solar energy, and transportation are other major end-users. Polyurethane resin, epoxy resin, and acrylic resin are commonly used resins in coated flat glass production. The market is also witnessing the emergence of nano coatings, which offer superior properties such as self-cleaning, anti-reflective, and anti-fogging. The growth of the market is driven by infrastructural developments, urbanization, green initiatives, and government and defense infrastructure projects. The market is expected to grow at a steady pace in the coming years due to the increasing demand for energy-efficient and sustainable glass solutions in buildings, renewable energy, and social infrastructure. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for coated flat glass from the automotive industry is notably driving market growth. Coated flat glass plays a significant role in various industries, including automotive, architecture, and solar energy. In the automotive sector, mirror coatings on coated flat glass enhance the functionality and aesthetics of vehicles. Coated flat glass is increasingly used in place of metal components for roofs in automobiles, contributing to lighter, fuel-efficient, and eco-friendly vehicles.
Moreover, the global automotive industry, with major players in countries like China, Germany, India, France, Italy, South Korea, Japan, and the US, is a significant consumer of coated flat glass for passenger cars and commercial vehicles. In the architecture sector, coated flat glass is used for decoration and kitchen applications due to its superior light transmission and thermal insulation properties. Thus, such factors are driving the growth of the market during the forecast period.
Increasing applications in automotive sector is the key trend in the market. Coated flat glass plays a significant role in various industries, including automotive, architecture, and solar energy. In the automotive sector, mirror coatings are used in rear and front view mirrors, windows, dashboard displays, and windshields for enhanced energy efficiency.
Moreover, the increasing demand for energy-saving vehicles has led to a surge in the use of coated flat glass in this sector. Major automobile manufacturers like BMW, Audi, and Daimler are already incorporating coated flat glass in their products, and this trend is expected to continue as others follow suit. Thus, such trends will shape the growth of the market during the forecast period.
High cost of coated solar control glass is the major challenge that affects the growth of the market. Coated flat glass, which includes mirror coatings, solar energy, and various decorative applications, undergoes an energy-intensive manufacturing process. The production of coated solar control glass necessitates high temperatures and significant energy consumption, primarily from natural gas used to heat furnaces.
Moreover, this increases the cost of production. Additionally, these glass products are enhanced with protective coatings to ensure resistance against rust, temperature fluctuations, seismic forces, water, and air. In the realm of architecture and decoration, coated flat glass is utilized extensively in buildings, infrastructural developments, urbanization, and green initiatives. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Asahi India Glass Ltd: The company offers coated flat glass such as AIS Clear Float Glass and Tinted Glass.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The residential buildings segment is estimated to witness significant growth during the forecast period. Coated flat glass plays a significant role in various industries, including beauty and cosmetics, architecture, decoration/kitchen, and solar energy. Mirror coatings are popular in the beauty and cosmetics sector for producing high-quality mirrors. In the architecture industry, coated flat glass is used for glass facades, offering benefits such as light transmission, thermal insulation, and solar heat modulation.
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The residential buildings segment was the largest segment and valued at USD 20.21 billion in 2018. Solar energy applications utilize coated glass for solar panels, which can be produced using polyurethane resin, epoxy resin, or acrylic resin. Nano coatings, a segment of the market, are gaining popularity due to their unique properties. They are used in buildings, infrastructural developments, urbanization, transport, renewable energy, social infrastructure, commercial infrastructure, government accommodation, defense infrastructure, and more. Hence, such factors are fuelling the growth of this segment during the forecast period.
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Europe is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The Market encompasses various applications, including mirror applications for architectural and automotive uses, smart mirrors, and solar panels. In the automotive and transportation sector, OEM automotive coatings and refinish coating segments are significant. Mirror applications require anti-reflective coatings for improved visibility, while smart mirrors incorporate advanced technologies. CO2 emissions are a concern, leading to the development of eco-friendly coatings. Raw materials like Polyurethane (PU) and manufacturing technologies are crucial factors. Hence, such factors are driving the market growth in Europe during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Bbillion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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Coated flat glass is a vital component in various industries, including architecture, transportation, renewable energy, and decoration. The market for coated flat glass is experiencing significant growth due to the increasing demand for energy efficiency, light transmission, and thermal insulation in buildings. Mirror coatings are a popular type of coated glass used in the beauty and cosmetics industry, as well as in architectural applications for glass facades. Coated flat glass is also extensively used in the solar energy sector for solar heat modulation and thermal insulation. The use of coated flat glass in the construction industry is on the rise due to urbanization and infrastructural developments. Polyurethane resin, epoxy resin, and acrylic resin are commonly used in the production of coated flat glass. Solvent-based technology and water-based technology are the two primary methods used in the coating process.
Moreover, Nano coatings are gaining popularity in the market due to their unique properties, such as high durability, scratch resistance, and self-cleaning capabilities. The Nano coatings market is expected to grow significantly due to their increasing use in various applications, including automotive and electronics manufacturing sectors. Coated flat glass is also used in various social and commercial infrastructure projects, including schools, hospitals, hotels, and corporate buildings. The market landscape depends on Solvent based technology, Water based technology, Water-based coating, Solvent based coating, Volatile organic compounds (VOCs), Amusement parks, Nano based technology, Electronics manufacturing sector, Mirror application, Anti reflective coatings, Logistic costs, Solar PV glass market, Procurement hassles. The use of coated flat glass in green buildings is increasing due to the need for energy efficiency and reduced operational costs. The automotive sector is another significant consumer of coated flat glass, particularly for side and rear windows. Coated flat glass is also used in the production of glass facades for human health and safety reasons. In conclusion, the market is expected to grow significantly due to the increasing demand for energy efficiency, light transmission, and thermal insulation in various industries, including buildings, transportation, renewable energy, and social infrastructure. The use of advanced technologies such as nano coatings and water-based coatings is expected to drive market growth further.
Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.8% |
Market growth 2024-2028 |
USD 20.05 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.37 |
Regional analysis |
Europe, APAC, North America, South America, and Middle East and Africa |
Performing market contribution |
Europe at 43% |
Key countries |
US, UK, China, France, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Asahi India Glass Ltd., Cardinal Glass Industries Inc., Central Glass Co. Ltd., Compagnie de Saint Gobain, DBs Glass and Glazing, Etex NV, Euroglas GmbH, Fuso Glass India Pvt. Ltd., Fuyao Glass Industry Group Co. Ltd., Hesse GmbH and Co. KG, Kibing Group, Koch Industries Inc., Nippon Sheet Glass Co. Ltd., Phoenicia Flat Glass Industries Ltd., Press Glass Holding SA, PT Mulia Industrindo Tbk, SCHOTT AG, TURKIYE SISE VE CAM FABRIKALARI A.S., Taiwan Glass Ind. Corp., and Xinyi Solar Holdings Ltd. |
Market dynamics |
Parent market analysis, market report, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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