Transparency Market Research
Mirror Coatings Market: Introduction
Mirror coatings are mirror-backing paints used in silver and aluminum mirrors for optical reflection. These coatings preserve the quality of overall finished products in terms of durability, color, and texture. Mirror coatings offer protection against abrasion, scratching, rusting, chemical corrosion, etc. Among end-users, automotive, construction, and solar power sectors witness high demand for mirror coatings.
Mirror Coatings Market: Segmentation Overview
Based on resin type, the mirror coatings market has been segmented into polyurethane, epoxy, acrylic, and others. The polyurethane segment of the mirror coatings market is expected to expand at the highest rate during the forecast period. Polyurethane mirror coatings are easy to clean, tough, and highly durable. They are used to attain a long-term protective coating. Polyurethane mirror coatings are used in various applications such as architectural, CSPs (concentrated solar panels), and decorative mirrors. Based on technology, the mirror coatings market can be segmented into solvent-based, water-based, and nano mirror coatings. The nano mirror coatings segment is expected to register the highest growth rate during the forecast period. These coatings offer protection from corrosion, rusting, and microbial attacks. Growth of the CSP solar power industry is likely to fuel the nano mirror coatings segment during the forecast period. Nano mirror coatings are dirt- and water-repellent, scratchproof, and temperature-resistant. They emit low VOCs. The water-based mirror coatings segment is expected to account for a leading market share, in terms of volume, during the forecast period. These are prominently used as coatings in building and construction activities and as basecoats in automobiles and solar power applications. In terms of application, the mirror coatings market has been classified into architectural, automotive & transportation, solar power, decorative, and others. The architectural segment is expected to hold a major share, in terms of volume and value, during the forecast period. Demand for architectural coatings is rapidly increasing in Asia Pacific, due to rising expenditure on commercial and residential buildings in the region. Architectural mirror coatings are used in walls, kitchens, saloon shops, bathrooms, doors, museums, and bars. Based on substrate, the mirror coatings market has been segmented into silver and aluminum.
Mirror Coatings Market: Overview
The rising demand for architectural glass and mirror in residential and commercial buildings and automotive and transportation applications drives the mirror coatings market. High demand from Asia Pacific is fueling the global mirror coatings market. Mirror coatings play a prominent role in solar power applications. Emergence of green buildings i.e. energy-efficient buildings is proving growth opportunities to the global mirror coatings market. Factors hindering the mirror coatings market are strict regulatory policies and environmental challenges. Water-based mirror coatings require higher drying time, which is restricting the water-based mirror coatings segment.
Mirror Coatings Market: Regional Outlook
Based on region, the global mirror coatings has been segmented into North America, South America, Asia Pacific, Europe, and Middle East & Africa. The market in Asia Pacific is expected to expand at the highest rate during the forecast period, followed by Europe and North America. The rising demand from developing economies such as India, China, South Korea, Vietnam, Taiwan, and Singapore is driving the mirror coatings market in Asia Pacific. China is a prominent market for mirror coatings, due to rapidly increasing use of these coatings in architectural, automotive, transportation, CSP power, and industrial production applications. In Europe, strict regulations associated with the emission of volatile organic compounds are restricting the demand for mirror coatings. The market in Middle East & Africa is expected to expand at a significant growth rate during the forecast period due to large use of mirror or glass material in the residential uses.
Mirror Coatings Market: Key Players
Key players operating in the global mirror coatings market are Arkema, FENZI, Fero Corporation, The Sherwin-Williams Company, Vitro Architectural Glass, Guardian Glass, LLC., Diamon-Fusion International, Inc. (DFI), PearlNano, LLC, Mäder, Tianjin Xin Lihua Color Materials Co., Ltd, Zhejiang Hongding Industrial Co., Ltd, and CASIX.
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