ROCKVILLE, Md., Feb. 17, 2022 (GLOBE NEWSWIRE) -- 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.
For More Valuable Information on Regional Market Dynamics, Request a Report Sample: https://www.factmr.com/connectus/sample?flag=S&rep_id=6156
Mirror Coatings Market Report Also Addresses:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Mirror Coating Sales and How to Navigate
- Recommendation on Key Winning Strategies
How is Increased Solar Power Reliance Heightening Mirror Coatings Demand?
Globally, solar energy deployment is surging rapidly. As per the Solar Energy Industries Association (SEIA), uptake of solar energy surged by 42% in the previous decade across the U.S. alone. As of 2020, over 230,000 Americans work in the solar industry at more than 10,000 companies.
Furthermore, the International Energy Agency (IEA) estimated that concentrated solar power generation increased by around 34% in 2019, resulting in a cumulative generation amount of 629 GW. Hence, demand for mirror coatings to manufacture solar cell panels is increasing, generating credible growth opportunities.
Get Customization on this Report for Specific Research Solutions: https://www.factmr.com/connectus/sample?flag=RC&rep_id=6156
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
How Will the U.S. Generate Opportunities for Mirror Coating Manufacturers?
The U.S market for mirror coatings was estimated at nearly US$ 190 million in 2020, expected to register impressive growth throughout the forthcoming decade. Extensive uptake across solar power generation is widening growth prospects for the future.
Furthermore, increasing adoption of polyurethane mirror coatings in commercial buildings as well as rising use of backing paints in silver and aluminum mirrors are likely to propel growth across the U.S.
Key Market Segments Covered
Resin
- Polyurethane Mirror Coatings
- Acrylic Mirror Coatings
- Epoxy Mirror Coatings
Technology
- Solvent-based Mirror Coatings
- Water-based Mirror Coatings
- Nano Mirror Coatings
Application
- Mirror Coatings for Architectural Applications
- Mirror Coatings for Automotive & Transportation
- Mirror Coatings for Decorative Applications
- Mirror Coatings for Other Applications
Request Methodology & Get a Glimpse of Our Expertise: https://www.factmr.com/connectus/sample?flag=RM&rep_id=6156
Mirror Coatings Market - Competitive Landscape
Prominent mirror coating manufacturers are reliant on multiple expansion strategies which include new customized product launches, mergers & acquisitions and strategic collaborations with existing players among others.
- In December 2020, Arkema Group collaborated with Cool Roof France, granting the latter access to its Kynar Aquatec® PVDF resin through a licensing agreement, enhancing delivery of high-performance building cooling solutions using reflective glass technology.
- In April 2021, FENZI S.p.A announced an agreement with Arsenal Capital Partners in order to help raise additional capital to expand the company’s flat glass processing business, permitting it to expand its geographical footprint and expand its core business.
Key Companies Profiled
- 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.
- Tianjin Xin Lihua Color Materials Co. Ltd.
Buy Premium Copy of Mirror Coatings Market: https://www.factmr.com/checkout/6156
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).
Explore Fact.MR's Coverage on the Chemical & Materials Domain –
Carbon Fiber Filament Market Analysis – Technological advances, rising demand from end-user industries, and the benefits provided by carbon fiber filaments are some of the factors propelling the market forward over the forecast period.
PEEK Filament Market Scope - The lightweight qualities of PEEK filament, as well as its ability to increase the operation of electronics within a vehicle, are expected to drive up demand. In the global PEEK filament market, the automotive and medical industries are expected to grow at a rapid pace.
Biobased Polyester Market Forecast - Factors such as rising cotton costs, rising global GDP, fast urbanization, rising population, rising car manufacturing, and rising demand for PET-based packaging will drive expansion in the biobased polyester market.
Thermoplastic Copolyester Elastomers Market Trends - The market for thermoplastic copolyester elastomers is projected to follow the same general trends as the automobile sector. The automotive industry has had a good couple of years, with a comeback in the United States and solid sales in China and India.
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
Mahendra Singh
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Tel: +1 (628) 251-1583
