Rockville, MD , Dec. 09, 2024 (GLOBE NEWSWIRE) -- The global Mirror Coatings Market is set to reach a valuation of US$ 239.0 Million in 2024 and further expand at a CAGR of 6% to end up at US$ by the year 2034.
The principal factor that fuels the demand for mirror coatings is an increase in global solar energy projects. Mirrors have a significant impact on the efficiency and durability of solar panels. This demands new technologies concerning the mirror coating materials and processes employed in harvesting the abundance of renewable energy like sunlight. In automotive and construction industries, mirror coatings are also vital, improving vehicle safety and architectural aesthetics while advancing energy efficiency in buildings.
- According to the industry expert mirror coating provides reflective surfaces with varying degrees of durability, versatility, and performance tailored to specific applications like transportation for mirrors, and decorative applications where reflective coatings are required for functional or decorative purposes.
The mirror coating market is also set to advance due to advancements in anti-reflective coatings that fit the necessity for little reflectivity of light in different sectors. This leads to higher utilization and return on investment for manufacturers and enables a higher trajectory in demanding high-quality mirrors like autos, science equipment, and solar energy.
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Key Takeaways from the Market Study:
- The global Mirror coating market is projected to grow at 6% CAGR and reach US$ 428.0 billion by 2034
- The market created an opportunity of US$ 46.5 million growing at a CAGR of 5.8% between 2019 to 2023
- East Asia is a prominent region that is estimated to hold a market share of 27.2% in 2034
- Epoxy mirror coatings under the Resin type are estimated to grow at a CAGR of 5.8% creating an absolute $ opportunity of US$ 91.8 million between 2024 and 2034
- North America and East Asia are expected to collectively create an absolute $ opportunity of US$ 103 million.
“Innovations like self-cleaning mirror coatings and advanced properties like hydrophobic and photocatalytic will drive the mirror coatings market,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Mirror Coatings Market:
Resin; 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.; Tianjin Xin Lihua Color Materials Co. Ltd.
Market Growth Stratagems:
Companies in the market are observed to have creative product integration and cooperative collaborations. Which will enhance their products' functionality and quality, leading to rise in demand and boost in sales. Companies are establishing their footprints in developing nations like China and India, which are growing rapidly as a result of the growing need for premium goods in the building and automotive sectors.
- On May 2024 - Vitro Architectural Glass announced the use of Solarban 72 Acuity glass in the renovation of 20 Massachusetts Avenue NW, Washington, D.C. This high-performance glass enhances the building's energy efficiency and aesthetics, providing a clear, color-neutral appearance with superior solar control and visible light transmittance
- On April 2024 - Glaston showcased innovations at Glass South America 2024, highlighting the COMFORT BOX insulating glass manufacturing line and the COMFORT’SEALER automatic sealing robot. The COMFORT BOX line produces up to 800 gas-filled insulating glass units per shift, while the COMFORT’SEALER transforms the line into a fully automated production process
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Mirror Coatings Industry News:
- In order to promote tempered vacuum insulated glass (VIG) technology, Guardian Glass and the VELUX Group signed a joint development agreement in March 2024. In order to satisfy the increasing demand for VIG and incorporate it into VELUX's roof window solutions, this collaboration makes use of their combined experience, technical teams, and intellectual property.
- Guardian Glass unveiled Guardian CrystalClear, a reduced-iron glass that offers 90% visible light transmission and 67% more colour neutrality, in April 2024. This cutting-edge solution improves colour neutrality and clarity, making it perfect for a range of architectural applications. It comes in a variety of thicknesses and enormous sizes, and it works with Guardian SunGuard low-E coatings.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the Mirror coating market, presenting historical market data (2019-2023) and forecast statistics for the period of 2024 to 2034.
The study reveals essential insights based on the By Resin (Polyurethane Mirror Coatings, Acrylic Mirror Coatings, Epoxy Mirror Coatings.), By Application (Mirror Coatings for Architectural Applications, Mirror Coatings for Automotive & Transportation, Mirror Coatings for Decorative Applications, Mirror Coatings for Other Applications.), By Technology (Solvent-based Mirror Coatings, Water-based Mirror Coatings, Nano Mirror Coatings.), across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, Middle East & Africa).
Segmentation of Mirror Coatings Industry Research:
- By Resin :
- Polyurethane Mirror Coatings
- Acrylic Mirror Coatings
- Epoxy Mirror Coatings
- By Technology :
- Solvent-based Mirror Coatings
- Water-based Mirror Coatings
- Nano Mirror Coatings
- By Application :
- Mirror Coatings for Architectural Applications
- Mirror Coatings for Automotive & Transportation
- Mirror Coatings for Decorative Applications
- Mirror Coatings for Other Applications
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