Global Mirror Coatings Market - Size, Share, Trends, Demand, Top Companies, Analysis and Forecast to 2024

Mirror coatings are, obviously, used to coat mirrors through vacuum deposition of interference layer on the mirror, in order to create effects on mirrors or lenses. These effects range from shimmer to tints to total mirror coatings. The growth of global mirror coatings market has been very significant in the past few years, accredited to the growing population and consumerism, giving rise to an increased use of mirrors in various end-user industries.

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Market Segmentation

1. Insight by Resin Type

The sub-categories in this segment are:
i. Polyurethane
ii. Epoxy
iii. Acrylic
iv. Others — Silicone and Alkyd

Polyurethane has been known for its unique property of providing tremendous durability. Hence, this category has the fastest growing market share in this segment. Polyurethane coatings have high demands in commercial buildings, solar power industry, and for decorative purpose, etc.

2. Insight by Technology

Subdivisions of this segment are:
i. Solvent-based
ii. Water-based
iii. Nanocoatings
iv. Others

Nanocoatings is predicted to be the fastest growing category of this segment owing to the high demand for advanced materials in the solar power industries. Nanocoatings are also known for their properties of preventing rust, microbes, corrosion, abrasion, etc.

3. Insight by Substrate

This segment is divided into two categories:
i. Silver
ii. Aluminum

Aluminum coatings hold a larger market share than silver coating due to its cost-effectiveness. However, when it comes to the quality and intensity of light reflection, silver coatings are preferred.

4. Insight by Application

There are various applications of mirror coatings depending on the end-user applications. However, following are the major ones:
i. Architectural
ii. Automotive and transportation
iii. Solar power
iv. Decorative
v. Others

The architectural applications possess the fastest growing demands in this segment, owing to the ever-increasing population and modern advancement in technology and architecture.

Industry Dynamic

1. Growth Drivers
The growth driver of mirror coatings is mainly based on the market sales of mirrors throughout the world. The more the sales of mirrors increase, the more will mirror coatings be required. Hence the driving factors for growth of the mirror coatings market are:
i. Rising demand for mirrors in the construction industry
ii. Increasing demand for mirror coatings in the solar power industry
iii. The rise in the number of decorative buildings have influenced the sales for mirrors, and consequently for mirror coatings
2. Challenges
The challenges faced by the key players in this industry include:
i. High costs and availability of silver coating which is used in mirrors
ii. Cost and availability of aluminum coating which is also used in mirrors as an alternative to silver

Geographic Overview

Major centres:
• Asia Pacific
• Europe
• North America
• South America
• Middle East and Africa

Asia Pacific has been the region with the fastest growing population. This results in growing demands in the consumerism and manufacturing industries. Hence, ever-expanding construction industry, as well as the automotive industry in this region, has been expected to grow with the fastest rate during the forecast period. The major countries in this region are India, China, Japan, etc.

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Competitive Insight

Key players in the global mirror coatings market are — Arkema Group, The Sherwin-Williams Company, Vitro, S.A.B. De C.V., Fenzi, Ferro, Tianjin Xin Lihua Color Materials Co., Ltd., Casix, Vitro, S.A.B. De C.V., Pearl Coating, and Mader Group.

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This release was published on openPR.