The Global Mirror Coatings Market to Reap $777.53 Million by 2028

According to Triton Market Research’s report, the global mirror coatings market garnered $400.85 million in 2020, and is set to showcase 6.87% of CAGR by 2028.

A recent study by Triton Market Research titled ‘Global Mirror Coatings Market’, covers the Global Analysis and Forecasts by Technology (Solvent-based; Nanocoatings; Water-based), by Resin Type (Polyurethane; Acrylic; Epoxy; Others), by Industry Vertical (Building and Construction; Energy; Automotive and Transportation; Other Industry Verticals), by Substrate (Silver; Aluminum; Other Substrates), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).

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Triton’s research report predicts the global mirror coatings market to showcase a CAGR of 6.87% in terms of revenue in the forecast duration from 2021 to 2028, generating a revenue worth $777.53 million by the year 2028.

Mirror coatings are used as building materials as well as for decoration purposes in both residential and commercial constructions. The global construction industry is witnessing growth due to the rising population, increased income, and favorable initiatives. All these factors are enhancing the demand for mirror coatings from the construction industry, which is aiding the studied market growth.

Epoxy-based mirror coatings, when exposed to UV rays, cause the resin to dry out. This decreases the flexibility of the polymer, further causing cracking and discoloration. This majorly deteriorates the anti-corrosive property of the coating, which reduces their demand and hinders the market growth.

The market for mirror coatings is segmented mainly into technology, resin type, industry vertical, and substrate. On the basis of technology, it is divided into solvent-based; nanocoatings; and water-based. The resin type segment is categorized into polyurethane; acrylic; epoxy; and others. According to industry vertical, the market is categorized into building and construction; energy; automotive and transportation; and other industry verticals. And as per substrate, it is classified into silver; aluminum; and other substrates.

The mirror coatings market in the Asia-Pacific is the largest in the world, and holds the highest share. The region is home to emerging economies like China, South Korea, Japan, and India, among others. The construction industry in these countries is booming, due to which, there is an enhanced demand for mirror coatings. Further, the solar power industry is showcasing diverse and sustained growth in these nations. South Korea is among the top ten nations in the world, in terms of solar energy adoption, along with China and Japan. Several solar power projects are being developed in the country, including a floating solar power plant. All these factors are driving the growth of the APAC market.

General Optics (Asia Limited), Casix, Evaporated Coatings Inc, Zeiss International, Abrisa Technologies, Accucoat Inc, Mader, Fenzi SpA, Dynasil Corporation, Ophir Optronics Solutions Ltd, Edmund Optics Inc, Berliner Glas, Guardian Glass, JML Optical, and Fosta-Tek Optics are the established players in this market.

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Question & Answer: Mirror Coatings Market

Question 1: What factor is aiding the studied market growth?
Answer: Mirror coatings are used as building materials as well as for decoration purposes in both residential and commercial constructions. The global construction industry is witnessing growth due to the rising population, increased income, and favorable initiatives. All these factors are enhancing the demand for mirror coatings from the construction industry, which is aiding the studied market growth.

Question 2: What factor hinders the mirror coatings market growth?
Answer: Epoxy-based mirror coatings, when exposed to UV rays, cause the resin to dry out. This decreases the flexibility of the polymer, further causing cracking and discoloration. This majorly deteriorates the anti-corrosive property of the coating, which reduces their demand and hinders the market growth.

Question 3: How is the Asia-Pacific region influencing the growth of the mirror coatings market?
Answer: The mirror coatings market in the Asia-Pacific is the largest in the world, and holds the highest share. The region is home to emerging economies like China, South Korea, Japan, and India, among others. The construction industry in these countries is booming, due to which, there is an enhanced demand for mirror coatings. Further, the solar power industry is showcasing diverse and sustained growth in these nations. South Korea is among the top ten nations in the world, in terms of solar energy adoption, along with China and Japan. Several solar power projects are being developed in the country, including a floating solar power plant. All these factors are driving the growth of the APAC market.

Question 4: Which are the established players in the mirror coatings market?
Answer: General Optics (Asia Limited), Casix, Evaporated Coatings Inc, Zeiss International, Abrisa Technologies, Accucoat Inc, Mader, Fenzi SpA, Dynasil Corporation, Ophir Optronics Solutions Ltd, Edmund Optics Inc, Berliner Glas, Guardian Glass, JML Optical, and Fosta-Tek Optics are the established players in this market.

Related Report:
Global Paints & Coatings Market

The global paints & coatings market is set to demonstrate growth in the forecast years between 2019 and 2027. It will grow at a CAGR of 5.34% in terms of revenue, generating $229.71 million by 2027. It is also expected to showcase a CAGR of 4.30% in terms of volume, accounting for 70970.22 kilotons by 2027.

Rapid urbanization and infrastructural development are the answers to the growth in emerging economies. This development in emerging countries is greatly impacting the paints & coatings market, due to the increased investments pouring in. China and India and are the prime markets to target the paints & coatings industry. Both these nations have been experiencing noticeable growth in the construction & automotive sector from international investors. Also, the spending on the defense sector, and indirectly on aerospace & marine applications, has also enhanced in the developing nations. All these factors are increasing the demand for paints & coatings, and, in turn, propelling the growth of the market studied.

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