The Global Flat Glass Coatings Market was valued at USD 1,723.5 Mn in 2020 and is expected to reach USD 6,580.6 Mn by 2027, with a growing CAGR of 21.1% during the forecast period.
Flat glass, which is also known as plate glass or sheet glass, is a class of glass in plane form. Flat glass is used in the manufacturing of windows, mirrors, doors, solar panels, and automotive glass to name a few. Owing to scientific research advancements and growing demand, coatings are now applied to flat glass to exhibit various dynamic properties such as water and dust resistance, corrosion resistance, self-cleaning, energy conservation, and many more.
The flat glass coatings market is accounted to boost at a significant pace in the forecast period. The flat glass coatings market is majorly experiencing traction owing to the growing demand for flat glass coatings in the construction of residential and commercial buildings. Increasing construction spending owing to rapid urbanization and infrastructural plans implemented by governments is expected to boost the flat glass coatings industry growth across the globe. For instance, in 2015, the Indian government announced the launch of its Smart Cities Initiative (SCI) which plans on developing 100 smart cities across the country making them citizen-friendly and sustainable. Similarly, in 2016, the Canadian government launched its ‘Investing in Canada Plan’ project that involves an investment of more than $180 billion for building infrastructure in Canada. The plan involves funding for many major projects relating to affordable housing, developing rural communities, and public transit among others. Such favourable government infrastructural projects are anticipated to drive the flat glass coatings industry demand.
Moreover, rapidly growing demand from the automotive & transportation sector across the globe is also a prominent factor driving the flat glass coatings industry growth. Flat glass coatings have a widespread application in the automotive industry, due to their performance efficiency and high durability. The flat glass coatings market has been experiencing substantial growth majorly due to high demand for OEM automotive coating and refinishes coating applications. An increase in volumes of automobile productions in countries such as Brazil, China, India, and Korea along with the increased rate of the product consumption across major OEMs in Japan, the USA, the UK, Germany, and France, is further contributing to the flat glass coatings industry growth.
By Resin Type
The unique insights provided by this report also include the following:
Based on resin type, the Polyurethane (PU) segment is projected to account for the largest share in the flat glass coatings industry during the forecast period due to the large-scale usage of PU based coatings in the architectural & industrial structures, and other applications
Based on the resin type, the flat glass coating market is fragmented as acrylic, PU, epoxy, and others. Among these, the Polyurethane (PU) segment is projected to account for the largest share in the flat glass coatings market during the forecast period. This can be attributed to the large-scale usage of PU-based coatings in architectural structures, solar panels, greenhouses, and others. PU resins are widely used for the final coating of architectural & industrial structures because of their ability to provide long-term protection. The growing prominence of PU in industrial and architectural structures is thereby expected to positively drive the flat glass coating market.
Based on technology, the nano-based technology segment is expected to be the most lucrative and fastest-growing segment in the flat glass coatings industry owing to the favourable growth in several end-user industries
Based on technology, the flat glass coatings market is segmented as nano-based, solvent-based, and water-based technologies. Among these, the nano-based technology segment is the most lucrative and fastest-growing segment in the flat glass coatings market. This growth can be attributed to a large number of research and development initiatives as well as increasing consumer demand. Favourable growth in several ends user industries such as the electronics and automotive industries has also driven the demand for flat glass, which is a crucial raw material component in the said industries. Further, increased urbanization is creating a greater demand for flat glass in terms of production as well as dynamic properties, especially in the BRIC countries. This has resulted in a greater impetus on R&D in the nanotechnology sector, leading to fuelling the growth in nano-coatings market.
The report also provides an in-depth analysis of flat glass coatings market dynamics such as drivers, restraints opportunities, and challenges
Note: Challenges along with in-depth market dynamics analysis is mentioned in the report.
The Covid-19 outbreak has severely impacted economies across the globe and led to the lowest recorded growth in the automotive and construction sectors. The American Road & Transportation Builders Association revealed in a recent report that infrastructure projects valued over $9.6 Billion have either been cancelled or delayed as a result of the pandemic. With people focusing on spending on other essentials, the overall demand and sales in the automotive industries took a plunge. Various regulations and restrictions imposed as a result of the pandemic further halted the supply chain in the industry. With both the construction and automotive industries taking a major hit as a result of the pandemic, the flat glass coatings market also suffered severely.
The report also provides an in-depth analysis of key trends in flat glass coatings market
The report also provides in-depth analysis of recent news developments and investments in the in flat glass coatings industry
Company Profiles and Competitive Intelligence
The key players operating in the flat glass coatings industry are:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.