Mirror Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Market is Segmented by Resin Type (Epoxy, Acrylic, Polyurethane, and Other Resin Types), Technology (Nano Coatings, Water-based, Solvent-based, and Other Technologies), End-user Industry (Building and Construction, Automotive and Transportation, Energy, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and the Middle East & Africa)

Market Snapshot

Market Summary - Mirroe Coatings Market
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: 5 %

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Market Overview

The market for mirror coatings is expected to register a CAGR of about 5%, globally, during the forecast period. Growing demand from the construction industry and increasing applications in the solar power industry are driving market growth. On the flip side, the high cost of mirror coatings is expected to hinder the growth of the market.

  • Mirror coatings market is expected to grow during the forecast period, owing to the increasing demand from the water and wastewater treatment plants.
  • The Asia-Pacific region dominates the market across the world, with the largest consumption from countries such as China, India, and Japan.

Scope of the Report

The mirror coatings market report includes:

Resin Type
Epoxy
Acrylic
Polyurethane
Other Resin Types
Technology
Nano Coatings
Solvent-based
Water-based
Other Technologies
End-user Industry
Building and Construction
Automotive and Tansportation
Energy
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Increasing Demand from the Building and Construction Sector

  • Mirror coatings are backing paints used for optical reflection. They are based on silver and aluminum substrates. These coatings preserve the quality of overall finished products in terms of durability, color, and texture.
  • Mirrors are widely used in both residential and non-residential buildings. Mirror coatings offer protection against abrasion, scratching, rusting, chemical corrosion, etc. The construction sector leads to the application of mirror coatings.
  • It is estimated that in the United Kingdom around 27,000 – 50,000 new homes are to be built by 2022 where the application of mirror coatings is anticipated which in turn creates scope for this market.
  • Hence, owing to the growing construction activities, especially in Asia-Pacific and North American countries, the demand for mirror coatings is expected to increase over the forecast period.
Mirror Coatings Market Revenue Share

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the market for mirror coatings during the forecast period. In countries, like China, India, and Japan, with the growing construction activities, the market for mirror coatings has been increasing in the region.
  • The largest producers of mirror coatings are located in the Asia-Pacific region. Some of the leading companies in the production of mirror coatings are Tianjin Xin Lihua Color Materials Co., Ltd (NBC), General Optics (Asia) Limited, CASIX, he Sherwin-Williams Company, and Arkema Group.
  • The Chinese government has rolled out massive construction plans, including making provisions for 250 million people in its new megacities, over the next ten years, creating scope for mirror coatings over the coming years.
  • Nearly, 9% of India’s GDP is spent on infrastructural services. The government of India has given an enormous momentum to the infrastructural sector, by allocating INR 5.97 lakh crore (~USD 92.22 billion), under the Union Budget 2018-2019 creating scope for the application of mirror coatings in its infrastructure services.
  • Apart from construction sector, mirror coatings are widely used in automotive, solar power industry, decorative and few other industries.
  • The aforementioned factors, coupled with government support, are contributing to the increasing demand for mirror coatings during the forecast period.
Mirror Coatings Market Regional Trends

Competitive Landscape

The global mirror coatings market is fragmented, with the major players accounting for a marginal share. A few companies operating in the market include Tianjin Xin Lihua Color Materials Co. Ltd (NBC), General Optics (Asia) Limited, CASIX, The Sherwin-Williams Company, and Arkema Group.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand from the Construction Industry

      2. 4.1.2 Increasing Application in the Solar Power Industry

    2. 4.2 Restraints

      1. 4.2.1 High Cost of Mirror Coatings

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Resin Type

      1. 5.1.1 Epoxy

      2. 5.1.2 Acrylic

      3. 5.1.3 Polyurethane

      4. 5.1.4 Other Resin Types

    2. 5.2 Technology

      1. 5.2.1 Nano Coatings

      2. 5.2.2 Solvent-based

      3. 5.2.3 Water-based

      4. 5.2.4 Other Technologies

    3. 5.3 End-user Industry

      1. 5.3.1 Building and Construction

      2. 5.3.2 Automotive and Tansportation

      3. 5.3.3 Energy

      4. 5.3.4 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Arkema Group

      2. 6.4.2 CASIX

      3. 6.4.3 Diamon-Fusion International Inc.

      4. 6.4.4 Dynasil Corporation

      5. 6.4.5 Edmund Optics Inc.

      6. 6.4.6 FENZI SpA

      7. 6.4.7 General Optics (Asia) Limited

      8. 6.4.8 GUARDIAN GLASS

      9. 6.4.9 North American Coating Laboratories

      10. 6.4.10 PearlNano LLC

      11. 6.4.11 The Sherwin-Williams Company

      12. 6.4.12 Tianjin Xin Lihua Color Materials Co. Ltd (NBC)

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Development of Low-VOC Coatings

    2. 7.2 Other Opportunities

**Subject to Availability

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Frequently Asked Questions

The Mirror Coatings Market market is studied from 2016 - 2026.

The Mirror Coatings Market is growing at a CAGR of 5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

Tianjin Xin Lihua Color Materials Co., Ltd (NBC). , General Optics (Asia) Limited , CASIX , The Sherwin-Williams Company, Arkema Group are the major companies operating in Mirror Coatings Market.

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