Pune, India, July 18, 2022 (GLOBE NEWSWIRE) -- The global flat glass coatings market size was valued at USD 1.96 billion in 2021. The market is projected to grow from USD 2.22 billion in 2022 to USD 7.05 billion by 2029, exhibiting a CAGR of 18.0% during the forecast period.
This information is published by Fortune Business Insights, in its report, titled, “Flat Glass Coatings Market, 2022-2029.”
COVID-19 Impacts:
Variation in Supply Chain Commenced by COVID-19 to Constrain Growth
The COVID-19 pandemic had a considerable influence on the flat glass coatings market growth. Owing to the lockdown and other limitations inflicted by governments to curb the spread of infections, there was lack of raw materials as well as a workforce, further swaying the supply chain for the market. Moreover, scarcity of raw materials and supply chain interruptions led to the termination of contracts of sub-contractors to monitor payments. The demand from building & construction firms went down due to the shutdown of construction activities, supply chain constrictions, and a momentary standstill on production.
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List of Key Players Mentioned in the Report:
- Arkema S.A. (France)
- The Sherwin-Williams Company (U.S.)
- Nippon Sheet Glass Co., Ltd (Japan)
- Guardian Glass (U.S.)
- Ferro Corporation (U.S.)
- Fenzi Group (Italy)
- Corning Inc. (U.S.)
- Vitro Architectural Glass (Mexico)
- Hesse GmbH & Co. KG (Germany)
- Viracon (U.S.)
Report Scope & Segmentation
| Report Attribute | Details | |
| Market size value in 2021 | USD 1.96 Billion | |
| Revenue forecast in 2029 | USD 7.05 Billion | |
| Growth Rate | CAGR of almost 18.0% 2022-2029 | |
| Base Year | 2021 | |
| Historic Years | 2018 - 2020 | |
| Forecast Years | 2022- 2029 | |
| Segments Covered | By Resin Type, By Application, By Technology | |
| Forecast Units | Value (USD Billion), and Volume (Units) | |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2022 to 2029 | |
| Regions Covered | North America, Europe, Asia Pacific, South America, and Middle East & Africa, and Rest of World | |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others | |
| Number of Companies Covered | Arkema S.A. (France), The Sherwin-Williams Company (U.S.), Nippon Sheet Glass Co., Ltd. (Japan), Guardian Glass (U.S.), Ferro Corporation (U.S.), Fenzi Group (Italy), Corning Inc. (U.S.), Vitro Architectural Glass (Mexico), Hesse GmbH & Co. KG (Germany), Viracon (U.S.) | |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. | |
| Customization Scope | Avail customized purchase options to meet your exact research needs. | |
Segments:
Perfect Properties of Acrylic Resin Led to Prime Share in the Market
Based on resin type, the market is segregated into acrylic, polyurethane, epoxy, and others. Acrylic segment held the largest share in the market in 2021 and is predicted to continue its dominance by the end of forecast period owing to the usefulness of the resin.
Water-based Segment to Create Greatest Revenue Owing to its Huge Environmental Obedience
By technology, the market is classified into water-based, solvent-based, and nano coatings. Water-based segment is anticipated to remain in its dominant position throughout the forecast period due to lower VOC emissions, environment-friendly nature, and superior properties involving sturdiness, good adhesion, and others.
Increasing Demand from End-use Industries to Fuel Mirror Segment Growth
Based on application, the market is divided into mirror, solar power, architectural, automotive, decorative, and others. Amongst these, the mirror segment held a chief share in 2021.
Geographically, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Report Coverage:
The report highlights leading regions across the world to offer a better understanding of the user. Furthermore, the report provides insights into the latest industry trends and analyzes technologies deployed at a rapid pace at the global level. The report examines various paradigm shifts associated with the transformation of technology in the chemical & material sector. It further highlights some of the growth-stimulating factors and restraints, helping the reader gain in-depth knowledge of the market.
Driving Factors:
Rise in Demand from Solar Applications to Fuel Market Growth
Even though coated glass is expansively being utilized in the solar industry, the market is promptly expanding. The surging usage of coatings in solar glass panels is thrusting the market. Unstable inclination of consumers toward green and clean energy sources is increasing the demand for solar panels. This augmented the adoption of flat glass coatings.
Regional Insights:
Asia Pacific to Dominate Backed by Heavy Adoption of Product
The market size in Asia Pacific stood at USD 1.28 billion in 2021. Asia Pacific holds the largest flat glass coatings market share, and it is anticipated to endure to do so throughout the forecast period.
In North America, glass coatings are registering great usage rate as the demand for energy-efficient buildings is increasing. Moreover, nations and developed businesses in the region are majorly spending on solar power technologies to reduce their dependence on traditional energy sources.
The growing demand from prime nations comprising Germany and France is projected to amplify the utilization of flat glass coatings in Europe.
Competitive Landscape:
Procurements Instigated by Major Companies to Support Market Growth
The dominating players in the market incessantly opt for proficient tactics to bolster their brand value as well as promote the global market growth. One such effective plan is purchasing competitive companies and further ensuring a hefty profit for both involved companies.
Key Industry Development:
November 2021: Fenzi Group, a dominating adhesives and sealants producer for the glass industry, has declared the procurement of the Advanced Glass Technologies division of Johnson Matthey (JM) Advanced Glass Technologies (AGT).
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/flat-glass-coatings-market-102910
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends- For Major Region
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights Impact of COVID 19 on Global Flat Glass Coatings Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Flat Glass Coatings Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- By Resin Type (Value)
- Acrylic
- Polyurethane
- Epoxy
- Others
- By Technology (Value)
- Water Based
- Solvent Based
- Nano Coatings
- By Application (Value)
- Mirror
- Solar Power
- Architectural
- Automotive
- Decorative
- Others
TOC Continued…!
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