Flat Glass Coatings Market

Flat Glass Coatings Market Outlook (2022-2032)

Global flat glass coatings market analysis reveals that market experienced year-on-year (YoY) growth of 13.6% in 2021 to reach US$ 1.9 Bn in December 2021. Demand for architectural coatings surged 17.9% to reach a valuation of US$ 383.2 Mn, while that for nano coatings was up 13.7% to reach US$ 291 Mn in 2021.

Worldwide consumption of glass coatings is predicted to surge to US$ 13.33 Bn by the end of 2032.

Report Attributes	Details
Flat Glass Coatings Market Size (2021A)	US$ 1.9 Bn
Estimated Market value (2022E)	US$ 2.16 Bn
Forecasted Market Value (2032F)	US$ 13.33 Bn
Global Market Growth Rate (2022-2032)	20.2% CAGR
North America Market Share (2021)	~32.8%
North America Growth Rate (2022-2032)	18.3% CAGR
US Growth Rate (2022-2032)	CAGR 18.5%
Market Share of Top 5 Companies	~38%
Key Companies Profiled	Arkema Apogee Enterprises Bee Cool Glass Coatings DOW Corning FENZI Ferro Corporation Sherwin-Williams Company  Vitro Architectural Glass Nippon Paint  SunGuard  Hesse DIAMON-FUSION INTERNATIONAL Nano-Care Deutschland Sunguard Tribos Coatings

Sales of flat glass coatings are anticipated to account for nearly 15%-18% share of the global coatings market value by 2032. Over the next ten years, demand growth of flat glass coatings is pegged to surge at around 20.2% CAGR.

As developed countries continue to renovate their ailing infrastructure, demand for architectural coatings has been on the rise. Furthermore, urbanization is being undertaken at a rapid pace in developing countries, which, in turn, is anticipated to massively benefit the market for flat glass coatings.

Demand for mirror coatings is on the rise with continuous increase in spending on home décor items such as mirrors. Besides, as consumers’ residual income escalates, they tend to increase their overall spending on the decorative aspects of their homes, which is anticipated to cause an escalation in the overall market growth for flat glass coatings.

Flat Glass Coating Demand Analysis (2017-2021) Vs. Market Forecast Outlook (2022-2032)

As per detailed analysis by Fact.MR, a market research and competitive intelligence provider, market value for flat glass coatings over 2017-2021 increased at a CAGR of around 14.7%.

Sales of solar flat glass coatings is on the rise with an escalation in overall spending of countries towards shifting their coal-driven power infrastructure to renewable power-driven infrastructure, especially solar power, as it is easy to produce.

Additionally, in the past half-decade, infrastructural development has been on the rise, and as per estimates, countries across the globe will have to spend over US$ 94 trillion in additional revenues to meet the urbanization and infrastructural needs of coming generations.

Owing to this reason, demand for flat glass coatings, which find usage across diverse end-use verticals, is poised to escalate at a high CAGR of 20.2% and create an absolute dollar opportunity worth US$ 11.43 Bn by 2032-end.

Why is the World Witnessing Escalated Sales of Flat Glass Coatings?

“Excellent Protective Properties of Flat Glass Coatings”

Coatings on flat glass provide a variety of features and properties, including water and dirt resistance, corrosion resistance, improved durability, and increased energy efficiency, among others.

Coatings form when vapours come into contact with flat glass surfaces. Flat glass coatings can be made with a variety of resins, including polyurethane resin, acrylic, epoxy, and many others.

“Rising Need for Decorative Mirror Coatings”

During the forecast period of 2022-2032, flat glass coating demand is poised to benefit from an increase in demand for ornamental products. The need for decorative mirror coatings is predicted to rise in the beauty and cosmetics industry, as well as in architecture and other fields.

Flat glass coating sales are anticipated to grow due to an increase in the number of architectural constructions being undertaken across geographies. Moreover, the market is being driven by factors such as escalating disposable income and changing lifestyles of consumers, in an attempt to mimic their favourite celebrities.

“Solar Panel Sector to Demand More Flat Glass Coatings”

Moreover, the growing popularity of solar panels as well as demand for environmentally-friendly renewable energy sources is anticipated to boost demand for solar panels, in turn driving the solar flat glass coatings market.

Furthermore, increased public awareness of energy saving, self-sufficiency, and favourable government laws are set to drive usage in architectural applications. Countries such as Italy, the United Kingdom, United States, Japan, China, India, and Germany, which have enacted unilateral Kyoto Protocol laws aimed at lowering greenhouse gas (GHG) emissions, are expected to boost market growth.

With escalating decorative flat glass coating demand, the market is projected to offer an absolute dollar opportunity worth US$ 8.25 Bn during 2022-2032.

Country-Wise Analysis

How is the U.S. Flat Glass Coatings Market Progressing?

“Infrastructure Development, Move towards Solar Power, and Rising Sales of Decorative Mirrors”

The U.S. flat glass coatings market has been growing at a rapid pace, especially due to increasing demand for decorative items such as mirrors that consume flat glass coatings in larger quantities.

Annually, U.S. women spend nearly US$ 2,000 – US$ 3,000 on beauty & cosmetics products, and also accessories such as mirrors. This will create an increase in the demand for flat glass coatings being used to manufacture these decorative mirrors.

There has been an increase in overall spending on the ailing infrastructure in the country. For instance, Joe Biden announced that his government would invest over US$ 1 trillion into renovating ailing infrastructure, out of which, the first US$ 27 Bn has already been invested into renovating the country’s ailing bridges. This would further drive demand of flat glass coatings required by U.S. construction companies in the process of renovating this ailing infrastructure.

Additionally, consumers are becoming aware of the benefits of using solar power, and as of 2021, nearly 2.8% of the total 4.1 trillion KWh of electricity was generated using solar panels. This figure, although low, is anticipated to become one of the major sources of power generation, thanks to the clean-energy initiatives adopted by the Biden administration, and associated spending towards achieving the target.

In terms of revenue, the United States dominates the global flat glass coatings market. By 2032, demand for flat glass coatings in the country is predicted to have grown 5.4X.

Why are Flat Glass Coating Suppliers Keeping a Watch on Europe?

“Automobile and Solar Power Sectors in Europe to Drive Market Expansion”

In most European countries, although overall spending on infrastructure is around 3%, which is much below what China is spending, demand for flat glass coatings is primarily generated for the region’s beauty industry, solar power generation industry, and automobile industry.

It is a well-known fact that Europe has remained one of the leading manufacturers of automobiles. Hence, a major chunk of the revenue is generated from automobile manufacturers, which consume a variety of automotive coatings. Out of the countries considered, Germany, the U.K., Italy and France have remained primary demand generators as of 2022.

Europe is house to over 290 automobile factories, accounting for a major chunk of automobiles produced in the world. In addition to automobiles, Europe is planning to increase its reliance on solar power and is willing to bring the manufacturing of solar panels to the region in an attempt to reduce dependence on Russian oil. This would further drive the sales of flat glass coatings being used in the manufacturing of solar panels.

The European market is anticipated to expand at a CAGR of 19.2%, with the German flat glass coatings market expanding 5.9X its current valuation by 2032.

Category-Wise Analysis

Which Flat Glass Coating Application is Set to Remain the Most Attractive?

“Escalating Demand for Mirror Coatings to Be Witnessed”

Out of the applications considered in the scope of the study, demand for mirror coatings is anticipated to increase at the highest CAGR of 23.7% to reach US$ 6.63 Bn valuation by 2032.

As the world continues to see an increase in demand for ornamental items, especially from first-time house owners, demand for flat glass coatings used for ornamental purposes is slated to grow at a rapid rate.

The need for decorative mirrors is predicted to rise in the beauty and cosmetics industry across geographies. With the global beauty industry touching US$ 450 Bn in 2022, demand for decorative mirrors, which play a vital role in dressing tables, will see an inevitable boost.

Owing to this, the mirror coatings segment is anticipated to expand at a rapid rate and create an absolute dollar opportunity worth US$ 2.77 Bn by 2032-end.

Why are Manufacturers Concentrating on Architectural Coatings?

“Increasing Architectural Construction in Developing Countries”

The flat glass coatings market is poised to grow rapidly due to an increase in the number of architectural constructions being undertaken in developing countries. Additionally, there has been a rise in the overall renovation activities being undertaken across developed countries.

China, which ranked well below the 30 mark in global infrastructural spending, is poised to lead global infrastructural investments by the year 2040. Moreover, as countries keep spending on developing newer residential apartment and commercial complexes, demand for flat glass coatings is poised to experience a surge.

Glass facades are gaining a lot of traction, especially in the commercial construction industry. Several technological advancements have enhanced the overall performance of glass in light transmission, thermal insulation, and solar heat modulation. Furthermore, advancements such as as double glazing, solar control, and thermal insulation have aided its utilisation.

Owing to the aforementioned factors, demand for architectural coatings is projected to touch US$ 1.83 Bn by 2032.

Which Resin Type Will Remain Most Popular Over the Coming Years?

“Polyurethane Coatings to Bring in High Revenue for Market Players”

Out of the segments included in the scope of the study, polyurethane coatings are anticipated to remain the most attractive, accounting for 39.1% of the total market in 2022. The segment is anticipated to create an absolute dollar opportunity worth US$ 6.16 Bn by 2032.

With growing demand from infrastructural, automotive, and architectural applications, polyurethane coating demand is anticipated to grow at higher CAGR of 23.7% and become 8.2X the current valuation by 2032.

Competition Landscape

Arkema, Apogee Enterprises, Bee Cool Glass Coatings, DOW Corning, FENZI, Ferro Corporation, Sherwin-Williams Company, Vitro Architectural Glass, Nippon Paint, SunGuard, Hesse, Diamon-Fusion International, Nano-Care Deutschland, Sunguard, and Tribos Coatings are major manufacturers of flat glass coatings.

Fact.MR has provided detailed information about the overall strategies adopted by players in the flat glass coatings market, along with their detailed overviews of the sales analysis of flat glass coatings, top flat glass coatings manufacturers, top solar coating brands, top architectural coating manufacturers, including SWOT analysis and sales generated from target flat glass coating products of top flat glass coatings manufacturers positioned across geographies.

Key Segments of Flat Glass Coatings Industry Survey

• Flat Glass Coatings Market by Resin:

  • Polyurethane Flat Glass Coatings
  • Epoxy Flat Glass Coatings
  • Acrylic Flat Glass Coatings
  • Other Resins

• Flat Glass Coatings Market by Product Type:

  • Solvent-based Flat Glass Coatings
  • Water-based Flat Glass Coatings
  • Nano Flat Glass Coatings

• Flat Glass Coatings Market by Application:

  • Mirror Coatings
  • Solar Power
  • Architectural
  • Automotive
  • Other Applications

• Flat Glass Coatings Market by Region:

  • North America Flat Glass Coatings Market
  • Latin America Flat Glass Coatings Market
  • Europe Flat Glass Coatings Market
  • East Asia Flat Glass Coatings Market
  • South Asia & Oceania Flat Glass Coatings Market
  • Middle East & Africa Flat Glass Coatings Market