Award-winning consulting firm Fact.MR concludes that the global flat glass coatings market is slated to surpass a valuation of US$ 4 billion by 2031, according to a latest research report published on the landscape. Growth is largely underpinned by increase in investments to further infrastructure development, especially in the architectural and energy generation segments.
Out of the segments included in the scope of the study, polyurethane coatings are anticipated to remain the most attractive, accounting for 39.1% of the total market in 2022. The segment is anticipated to create an absolute dollar opportunity worth US$ 6.16 Bn by 2032.
With growing demand from infrastructural, automotive, and architectural applications, polyurethane coating demand is anticipated to grow at higher CAGR of 23.7% and become 8.2X the current valuation by 2032.
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Revenue from Flat Glass Coatings Industry from 2016 to 2020 Compared to Demand Outlook from 2021 to 2031
In recent years, comprehensive sales of flat glass coatings reached expanded at an impressive 12% CAGR. Owing to its extensive application in building construction-both in commercial and residential sectors, the market exhibited tremendous growth potential and expanded at an annual rate of 14% between 2016 and 2020.
Prospects nosedived significantly during the coronavirus pandemic, attributed to cessation of industrial manufacturing operations in the wake of stringent lockdowns. American coatings manufacturer PPG Industries, for instance, reported a decline of approximately 7% compared to 2019 (US$ 3.4 billion) in Q1 2020. Other manufacturers noted a similar downswing. However, prospects eventually rebounded from Q4 2020, as restriction began to ease.
Key Takeaways from Market Study
- Acrylic flat glass coatings to experience massive surge, expected to record a stellar 15% CAGR through 2031
- Polyurethane flat glass coatings likely to be valued at nearly US$ 2 billion by the end of the forecast period
- Demand for flat glass mirror coatings to emerge the strongest, holding above 40% market share in 2020
- Water-based flat glass coatings to emerge dominant by technology, capturing over 50% revenue share by 2031
- Flat glass coating sales in the U.S. topped US$ 400 million in 2020, attributed to high uptake in solar power generation
- China to spearhead growth in East Asia, expected to reach nearly US$ 1 billion by 2031
- India, Australia, and South Korea to collectively generate over US$ 600 million in revenue
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Key Segments Covered
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Application
- Flat Glass Mirror Coatings
- Flat Glass Coatings for Solar Power Generation
- Flat Glass Coatings for Architectural Applications
- Flat Glass Coatings for Automotive Applications
- Flat Glass Coatings for Other Applications
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Resin
- Polyurethane Flat Glass Coatings
- Epoxy Flat Glass Coatings
- Acrylic Flat Glass Coatings
- Other Resin Flat Glass Coatings
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Technology
- Solvent-based Flat Glass Coatings
- Water-based Flat Glass Coatings
- Nano Flat Glass Coatings
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Japan
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
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