Acrylic Mirror Coatings to Comprise Bulk of Overall Demand, Expanding at Over 6% CAGR through 2031: Fact.MR
Published : 25 May 2021 Industry: Chemical & Materials
Award-winning consulting firm Fact.MR has recently published a new report on the global mirror coatings market for the forecast period of 2021 to 2031. According to the study, the market is anticipated to surge at a healthy CAGR of over 6% through 2031, reaching over US$ 1 billion in valuation.
Historically, the market posted credible gains, reaching nearly US$ 700 million in 2020, amid extensive uptake across the renewable energy generation sector, particularly solar cell panel manufacturing. As of 2019, global solar photovoltaics (PV) generation increased 22%, or 131 TWh, representing the second-largest absolute generation growth of all renewable technologies, according to an IEA report. Hence, manufacturers are leveraging mirror coatings to enhance energy generation capacities.
Opportunities are also opening up across architectural applications, amid rising demand for commercial- and residential-grade infrastructure amid rapid urbanization.
- For instance, Euramax offers extensive mirror-based exterior building cladding solutions made from coated metal. It is the perfect alternative to polished stainless steel, thus eliminating corrosion concerns, thereby offering superior exterior durability.
- Likewise, Edmund Optics manufactures a wide range of precision parabolic, spherical and flat mirror with several different substrate materials.
Key Takeaways from Market Study
- By resin, acrylic mirror coatings to expand at a CAGR of over 6% through 2031
- Demand for polyurethane mirror coatings to experience noteworthy surge, reaching nearly US$ 600 million by 2031
- In terms of technology, nano mirror coatings are poised to account for a lucrative revenue share
- Demand across architectural applications is expected to remain especially strong amid rapid infrastructure development
- The U.S. market was valued at around US$ 190 million in 2020, and is poised to experience an impressive upswing
- China to experience a staggering CAGR of approximately 10%, surpassing US$ 200 million valuation by 2031
“Prominent mirror coating manufacturers are fulfilling the dual objective of enhancing the aesthetic value of existing infrastructure while simultaneously offering high reflective properties, prompting a flurry of product launches,”remarks a Fact.MR analyst.
Prominent mirror coating manufacturers include Arkema Group, Ferro Corporation, Casix Inc., Mader Group, Guardian Glass, Cemex S.A.B, Diamon Fusion International Inc., FENZI S.p.A, Glas Trosch Holding AG, Pearl Nano LLC, The Sherwin-Williams Company, Vitro Architectural Glass, Zhejiang Hongding Industrial Co. Ltd., and Tianjin Xin Lihua Color Materials Co. Ltd.
- Vitro Architectural Glass offers the Solarcool® and Vistacool® reflective coated glass solutions which not only provide high aesthetic value but offer high reflective properties when applied to first surface.
- Likewise, Glas Trosch Holding AG offers the HY-TEC GLASS range of anti-reflective glass and mirrored glass sheets respectively. Some of its product lines include the LUXAR® Class anti-reflective glass and SPYMIRROR glass.
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the mirror coatings market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of resin (polyurethane, acrylic, and epoxy), technology (solvent-based, water-based, and nano coatings) and application (architectural, automotive & transportation, decorative, and others), across five major regions of the world (North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa).
Fact.MR’s Domain Knowledge in Chemicals and Materials
Our chemical and material consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the chemical and material sector. Our expertise in recognizing the challenges and trends impacting the global chemical and material industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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Consultant – Chemicals and Materials