Functional Glass Coatings Market is Likely to Reach US$ 2,052.1 million in 2023

Launching announcement of a new research report on Functional Glass Coatings Market which is projected to reach US$ 2,052.1 million by 2023- forecasted by Stratview Research. The study provides an in-depth by End-User Type (Architectural Glass, Automotive Glass, Display Panel Glass, Container Glass, and Others), by Application Technique Type (Pyrolytic Coating, Sputtered Coating, Screen Printing, Spray Coating, Sol-Gel Coating, and Others), by Coating Type (Low-E Coatings and Specialty Coatings), and by Region (North America, Europe, Asia-Pacific, and Rest of The World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023

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The Functional Glass Coatings Market: Highlights
The functional glass coatings market is forecasted to grow at an impressive rate over the next five years to reach an estimated value of US$ 2,052.1 million in 2023. The overall coatings market for glass applications has undergone a remarkable transition over a period of time with changing roles from protecting and decorating a glass substrate to the new role, termed as functional glass coating. Increasing applications of glass in various sectors including architecture, automotive, food & beverage, consumer goods, and pharmaceuticals, along with a surge in the performance requirement of glass substrates to meet the requisite properties of different applications have given rise to the demand for functional glass coatings. Functional coating enhances or modifies the properties of glass substrate and offers several crucial properties, such as adhesion, wettability, chemical resistance, wear resistance, scratch resistance, gloss, hydrophobicity, self-cleaning, anti-static, anti-reflective, and anti-bacterial properties, to the glass substrate.

Performance of the functional glass coatings market is highly dependent on the glass industry, whose growth is aligned with the growth of architectural industry, automotive industry, and electricals & electronics industry. In a particular industry, glass products are used for different applications with the purpose to address different set of requirements. For instance, architectural applications require flat glasses for windows and facades that should be energy efficient, whereas the automotive industry requires flat glasses that should be highly resistant to ultraviolet and infrared radiations. Growing construction, automotive, and electrical & electronic industries in the emerging countries are intensifying the demand for advanced and smart glass products and so are functional coatings.

There are a host of factors burgeoning the demand for functional glass coatings in diverse range of applications. Among all, the biggest driving factor is organic growth of the architectural industry. Increasing building and infrastructure activities and surge in global investments for construction of taller buildings with increasing usage of glass for aesthetic appearance are the major factors driving the growth of functional glass coatings in the architectural industry. Rising demand for energy savings and green building concept has created ample opportunities for the functional glass coating manufacturers to develop and innovate functional glass coatings in order to produce highly efficient architectural glass for the industry.

Another factor, which is acting as a catalyst to the growth of functional glass coatings, is consistently increasing automobile production. Currently, the global automobile production is at its peak with all four regions marking overall positive development in the production of automobiles. China, India, Southeast Asia, and North Africa will fuel the growth of the automotive industry in the coming five years. It is very important for the functional glass coating manufacturers to realign themselves based on the shifting opportunities from developed economies to the developing economies, such as China and India.

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In addition to that, rapidly changing market dynamics, such as increasing demand for energy-efficient buildings owing to several environmental initiatives by regulatory authorities, such as, LEED, RoHS, and REACH standards; growing penetration of glass in wide array of applications; increasing functionality of coatings in glass; and advancements in functional glass coating materials and manufacturing processes are further substantiating the growth opportunities for new entrants as well as for the existing players in the functional glass coatings market.

The global functional glass coatings market is segmented based on the end-user type as Architectural Glass, Automotive Glass, Display Panel Glass, Container Glass, and Others. Architectural glass is expected to remain the growth engine of the market during the forecast period of 2018 to 2023. Increasing building and infrastructure activities in developing economies coupled with increasing glass content in the building and infrastructure are the key factors, propelling the demand for functional coatings in the segment. Automotive glass, another segment with a considerable share, is likely to witness healthy growth rate over the next five years.

Based on the application technique type, the functional glass coatings market is segmented into Pyrolytic Coating, Sputtered Coating, Screen Printing, Spray Coating, Sol-Gel Coating, and Others. Pyrolytic coating is expected to maintain its dominance in the market during the forecast period, driven by its low-cost advantage and consistent performance. Pyrolytic coating and sputtered coatings are the two main technologies for applying Low-E coatings on a glass substrate.

Based on the coating type, the functional glass coatings market is segmented into Low-E Coatings and Specialty Coatings. Specialty coatings segment dominated the market in 2017. Specialty coatings include various coating solutions, such as self-cleaning, anti-reflective, anti-microbial, anti-UV, anti-smudge, anti-fog, and transparent conductive coatings.

Based on regions, Asia-Pacific is expected to remain the largest functional glass coatings market during the forecast period. China, India, and Southeast Asia are the growth engines of the Asia-Pacific’s functional glass coatings market in the foreseeable future. North America and Europe are also likely to exhibit positive growth rates during the same period, driven by high production of vehicles and growing demand for energy-efficient buildings.
The supply chain of this market comprises raw material suppliers, functional glass coating manufacturers, glass manufacturers, distributors, and end-users. Major functional glass coating manufacturers are Asahi Glass Co., Ltd (AGC), Apogee Enterprises, Inc., Arkema, Ferro Corporation, Guardian Industries, ICD High Performance Coatings, Johnson Matthey, Nippon Sheet Glass Co., Ltd (NSG), Saint-Gobain S.A., and Vitro, S.A.B. de C.V. Development of high-performance functional glass coatings, expansion in untapped and growing markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.

Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

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This release was published on openPR.