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Global Industry Analysis of Mirror and Anti-corrosive Mirror Coatings
Transparency Market Research delivers key insights on the global mirror and anti-corrosive mirror coatings market. In terms of revenue, the global mirror and anti-corrosive mirror coatings market is estimated to expand at a CAGR of 6.1% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global mirror and anti-corrosive mirror coatings market. The global mirror and anti-corrosive mirror coatings market is broadly affected by several factors including increase in usage of mirror and anti-corrosive mirror coatings in various applications including architectural, automotive & transportation, solar power, and decorative.
The rise in the global demand for polyurethane anti-corrosive mirror coating and epoxy anti-corrosive mirror coatings has led to significant growth in usage of mirror and anti-corrosive mirror coatings. The increase in the production and demand for acrylic anti-corrosive mirror coatings is expected to be the primary driver of the global mirror and anti-corrosive mirror coatings market. The growth in architectural, automotive & transportation, and decorative applications is also propelling the demand for mirror and anti-corrosive mirror coatings.
Mirror and Anti-corrosive Mirror Coatings Market: Dynamics
Mirror coatings are mirror-backing paints used in silver and aluminum mirrors for optical reflection. These coatings preserve the quality of overall finished products in terms of durability, color, and texture. Metal plating is one of the widely used methods of mirror coating. The procedure of application of reflective layer in second surface mirrors is called silvering. In second surface mirrors, the metal plating is done on the back surface of the substrates. After metal coating, the layer of protective coating is applied; as a result, second surface mirrors are secured from both the sides.
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Mirror coatings offer protection against abrasion, scratching, rusting, chemical corrosion, etc.
Based on resin type, the polyurethane segment dominated the global mirror and anti-corrosive mirror coatings market in 2020. This can be primarily ascribed to the increase in demand for mirror and anti-corrosive mirror coatings in various applications including architectural, automotive & transportation, solar power, decorative and others. The global architectural sector is expected to expand considerably during the forecast period. Thus, rise in production of architectural, automotive & transportation, decorative and others is projected to boost the demand for mirror and anti-corrosive mirror coatings during the forecast period.
Manufacturers are focusing on the architectural applications, as the share held by this segment in the mirror and anti-corrosive mirror coatings market is likely to increase during the forecast period.
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Mirror and Anti-corrosive Mirror Coatings Market: Prominent Regions
Asia Pacific holds the major share of the global mirror and anti-corrosive mirror coatings market. The market in the region is anticipated to expand at a CAGR of more than 6.6% during the forecast period. Increase in demand for mirror and anti-corrosive mirror coatings in various applications such as architectural and automotive & transportation is driving the mirror and anti-corrosive mirror coatings market in Asia Pacific. China is a key country of the mirror and anti-corrosive mirror coatings market in Asia Pacific. It held significant share of the mirror and anti-corrosive mirror coatings market in Asia Pacific in 2020. The country is estimated to maintain its dominant position in the region during the forecast period.
Europe is also a prominent region of the global mirror and anti-corrosive mirror coatings market. Germany led the mirror and anti-corrosive mirror coatings market in Europe in 2020. Increase in demand for mirror and anti-corrosive mirror coatings in architectural and decorative applications is driving the market in Germany.
Mirror and Anti-corrosive Mirror Coatings Market: Major Players
The global mirror and anti-corrosive mirror coatings market is consolidated, with the presence of key players. Prominent players operating in the global mirror and anti-corrosive mirror coatings market include Asahi India Glass Limited, Suyog Glass Industries, PGP Glass Private Limited, Saint-Gobain, JB Glass, Pilkington, SCHOTT AG, Vitro, AGC Inc., Tuffx Glass, TPRS, FENZI S.p.A., Thorlabs Inc., JENOPTIK, Dynasil Corporation, Tianjin Xin Lihua Color Materials Co., Ltd, The Sherwin-Williams Company, Newport Thin Film Laboratory, Inc., and AccuCoat inc.
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