New York, NY -- (SBWIRE) -- 03/15/2021 -- The global mirror coatings market is forecast to reach USD 1,208.6 Million by 2026, according to a new report by Reports and Data. The market is rising rapidly as the demand for mirrors or mirror-like products are increasing year on year due to rise in temperature in hot and temperate countries and economic enhancement in the developing countries has helped the common people to spend a premium amount on the luxury home decorative furniture which mostly are incorporated with mirror coatings. The proliferation in the centralized air-conditioned buildings reduced keeping windows and increased the practice of using mirror coating glasses for several convenience and reasonable purposes.
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Leading Players Profiled in the Report Include:
Fenzi, Ferro, Diamond-Fusion, Mader, Guardian Glass, Tianjin Xinlihua Color Materials Co. Ltd., Casix, The Sherwin-Williams, Grincoat, Vitro SAB de CV.
The Asia Pacific region is forecasted to generate the highest revenue of USD 541.5 Million in the year 2026, owing to its extensive market penetration coupled with the rise in the customer base of automotive and extensive growth in building and construction industry in the developing economies such as India and Thailand.
Further key findings from the report suggest
Automotive vehicles widely employ mirror or reflecting glasses to get rid of the extreme sunny daylights. Some portions of the windshields, sunroofs, and windows are made using the reflecting or mirror glasses. The market has been hugely driven by automotive applications. The segment had a market share of 23.3% in 2018 and will be growing with a CAGR of 8.1% during the forecast period.
Home Décor instruments incorporate mirrors and mirror-like reflecting furniture or accessories, which adds to the overall market revenue. The CAGR for this segment is 7.2% during the forecast period, and the revenue in 2018 was USD 112.1 Million for this segment.
Consumer Goods include numerous products which employ mirrors or mirror-like materials and increase the market for mirror coatings. Eyewear, highly reflecting mirror-like costumes, and camera-lenses, to name a few of the consumer goods. Consumer goods had a market share of 14.3% in 2018 and are expected to grow with a CAGR of 7.0% in 2019-2026.
Polyurethane resins have been considered in many applications as the benchmark for being high-performance coatings. The attributes that make this coating system so attractive are high-gloss and crystal clear which finishes with excellent weathering performance. These coatings are capable of reflecting more than 90% of the light and doesn't let go most of the remaining amount of light inside the glass. Polyurethane is forecasted to have a market share of 44.6% by 2026.
Chromium will gain a market share of 15.3% by 2026 and will grow at a CAGR of 5.8% during 2019-2026. Chromium is mostly employed in the rearview mirrors of vehicles.
APAC, owing to the highest growth rate in automotive and building & construction industry coupled with numerous temperate regions, is helping the market grow with the fastest CAGR of 9.8% throughout the forecast period. China and India are some of the active contributors in this region.
North America is accounted to gain 20.5% of market possession by 2026 with a CAGR of 8.1% in the forecast period.
Europe is forecasted to witness significant growth in the overall market, with 21.7% of market possession by 2026 and CAGR of 6.5% during the forecast period.
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For the purpose of this report, Reports and Data have segmented the global Mirror Coatings market on the basis of the base material, type of resins, technology, applications, and region:
Base Material Outlook (Revenue, USD Million; 2016-2026)
Silver
Aluminum
Gold
Copper
Chromium
Others
Type of Resins Outlook (Revenue, USD Million; 2016-2026)
Polyurethane
Epoxy
Acrylic
Others
Technology Outlook (Revenue, USD Million; 2016-2026)
Water-Based Coatings
Solvent-Based Coatings
Nano-Coatings
Applications Outlook (Revenue, USD Million; 2016-2026)
Automotive
Building & Construction
Home Décor
Consumer Goods
Concentrating Solar Power (CSV) Panels
Others
Regional Outlook (Revenue, USD Million; 2016-2026)
North America
Europe
Asia Pacific
MEA
Latin America
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Mirror Coatings Market Segmentation & Impact Analysis
4.1. Mirror Coatings Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. The proliferation of centralized air-conditioned commercial buildings
4.2.2.2. Increasing use of one-way visible glasses in automotive
4.2.2.3. Rise in practice of using concentrating solar power panels
4.2.3. Market restraints analysis
4.2.3.1. Issues with water-based coatings
4.2.3.2. Regulations against the one-way visible glass in automotive
4.2.3.3. Cost effectivity of photovoltaic cells over concentrating solar power (CSP) panels
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
Continued…
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