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The mirror coatings market share is expected to increase by USD 199.89 million from 2021 to 2026, at a CAGR of 5.45%.
This mirror coatings market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers mirror coatings market segmentations by end-user (building and construction, automotive and transportation, energy, and others) and geography (APAC, North America, Europe, Middle East and Africa, and South America). The mirror coatings market report also offers information on several market vendors, including AccuCoat Inc., AGC Asia Pacific Pte Ltd, ASML Berlin GmbH, Atteipo Information Co. Ltd, Dynasil Corp. of America, Evaporated Coatings Inc., Fabrinet, FENZI Spa, Ferro Corp., GENERAL OPTICS (ASIA) Ltd., Glas Trosch Holding AG, Guardian Industries Holdings Site., Jenoptik AG, JML Optical, Newport Thin Film Laboratory., Ophir Optronics Solutions Ltd, MADER SA, The Saint-Gobain Group, The Sherwin-Williams Co., and Tianjin Xin Lihua Color Materials Co. Ltd among others.
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The rising demand for mirror coatings in the construction and automotive industries is notably driving the mirror coatings market growth, although factors such as stringent regulatory policies and environmental challenges may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the mirror coatings industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Mirror Coatings Market Driver
The rising demand for mirror coatings in the construction and automotive industries is one of the key drivers supporting the mirror coatings market growth. Reflective glass is a type of tempered glass or standard glass with a thin mirror coating on only one side of the glass, giving it a mirror-like appearance. This mirror coating is applied during the float process to increase the amount of heat reflected from the glass, allowing it to absorb and reflect the harmful UV and infrared rays of the sun. It transmits only natural visible light. It also prevents excessive sun glare. The mirror coating on the glass counteracts rising energy consumption by helping prevent solar heat and glare from getting inside. Such factors are increasing the demand for mirror coatings in the construction and automotive industries. This, in turn, will drive market growth during the forecast period.
Key Mirror Coatings Market Trend
Increasing demand from the building and construction sector is one of the key mirror coatings market trends that is contributing to the market growth. Mirror coatings are optically reflective backing paints. Silver and aluminum are used as substrates. These coatings help to maintain the overall quality of finished goods in terms of durability, color, and texture. In both residential and non-residential structures, mirror coatings are commonly used. Abrasion, scratching, rusting, chemical corrosion, and other factors are all protected by mirror coatings. The application of mirror coatings is in high demand in the construction industry. As a result, the demand for mirror coatings is expected to rise over the forecast period, owing to increased construction activity, especially in Asia-Pacific and North American countries.
Key Mirror Coatings Market Challenge
Stringent regulatory policies and environmental challenges are some of the factors hindering the mirror coatings market growth. Manufacturers in the mirror coatings market encounter a number of regulatory and environmental challenges as a result of increased focus on meeting state and local regulations concerning volatile organic compounds (VOCs). Solvent-based coatings evaporate during the drying process, releasing VOCs into the atmosphere, causing a negative and toxic impact on the environment. As a result, governments across the world have established strict restrictions and mandated that companies utilize environmentally friendly technologies. These stringent regulations will limit market growth during the forecast period.
This mirror coatings market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global mirror coatings market as a part of the global diversified chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the mirror coatings market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the mirror coatings market encompasses successful business strategies deployed by the key vendors. The mirror coatings market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The mirror coatings market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the mirror coatings market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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39% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for the mirror coatings market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growing profit levels, coupled with the migration of people from the rural areas to cities will facilitate the mirror coatings market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 affected the growth of several industries in the region, including the construction and automotive industries. However, during the second half of 2021, as the active COVID-19 infected cases declined, several markets gradually resumed business operations, including the market in focus. Thus, the large-scale COVID-19 vaccination drives and adherence to social distancing norms are some factors expected to drive market growth during the forecast period.
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The mirror coatings market share growth by the building and construction segment will be significant during the forecast period. The demand for mirror coatings is increasing in the construction sector. Due to this, the reflective glass lets optimal light into your space and reduces glare from the sun, eliminating the need for blinds and other window coverings. Furthermore, when combined with solar-controlling low-E coatings, this glass can reflect incoming radiant heat energy to keep the HVAC costs low. Such factors will increase the demand for mirror coatings and thereby driving the market growth.
This report provides an accurate prediction of the contribution of all the segments to the growth of the mirror coatings market size and actionable market insights on post COVID-19 impact on each segment.
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Industrial Coatings market - The Market share is expected to increase by USD 16.74 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4%.
Mirror Coatings Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 5.45% |
Market growth 2022-2026 |
$ 199.89 million |
Market structure |
Fragmented |
YoY growth (%) |
6.08 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 39% |
Key consumer countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
AccuCoat Inc., AGC Asia Pacific Pte Ltd, ASML Berlin GmbH, Atteipo Information Co. Ltd, Dynasil Corp. of America, Evaporated Coatings Inc., Fabrinet, FENZI Spa, Ferro Corp., GENERAL OPTICS (ASIA) Ltd., Glas Trosch Holding AG, Guardian Industries Holdings Site., Jenoptik AG, JML Optical, Newport Thin Film Laboratory., Ophir Optronics Solutions Ltd, MADER SA, The Saint-Gobain Group, The Sherwin-Williams Co., and Tianjin Xin Lihua Color Materials Co. Ltd |
Market dynamics |
Parent market analysis, 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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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