Flat Glass Coatings Demand to Increase Four-Fold by 2031 as Application in Making Solar Panels and Cells Grows

NEW YORK, Nov. 16, 2021 /PRNewswire/ -- As Fact.MR, the global flat glass coatings market size is estimated to reach US$ 988 Mn in 2021.

As a result of increasing construction activities worldwide, the overall demand for flat glass coatings is set to accelerate at an impressive CAGR of 15% between 2021 and 2031. The global flat glass coatings market value is expected to top US$ 4 Bn by the end of 2031.

Expanding residential and commercial sectors will remain a chief growth driver of the market. Besides this, investment towards expansion of solar energy infrastructure will create attractive opportunities for sales of flat glass coatings.

Fact.MR has predicted the demand for flat glass coatings to increase considerably in China, Japan and the U.S. These countries are gradually transitioning from conventional sources of energy to solar power. As flat glass coatings are extensively used for making solar cells and panels, the global market is slated to expand by 4X through 2031.

According to the study, water-based flat glass coatings will continue to dominate the market. The segment accounted for over half of the revenue share in 2020. These coatings offer various high resistance to temperature changes and better adhesion, which is augmenting their application across various segment.

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China is expected to spearhead the sales of flat glass coatings in East Asia. The demand for flat glass coatings in China is expected to grow by 20% through 2031. Growth in the country is attributable to the soaring demand for flat glass coatings across various industries such as automotive and construction. Acrylic flat glass coatings market accounted for 40% of the global market share in 2020. Furthermore, water-based flat glass coatings market is expected to witness proliferating demand.

"Government push to alternate sources of energy will create prospects for application of flat glass coatings for manufacturing solar cells and panels. This also will encourage the market players to focus on innovations to capitalize on existing opportunities for flat glass coatings application in solar power generation," says the Fact.MR analyst.

Key Takeaways from Flat Glass Coatings Market Survey

• Spurred by surging demand for sustainable construction material and rising investments in solar energy generation, the U.S. flat glass coatings market totaled US$ 4 Bn in 2020.
• Demand for flat glass coatings is projected to top US$ 1 Bn in China as a result of the rising demand in automotive and construction industries.
• India is expected to register attractive prospects for application of flat glass coatings in the expanding residential and commercial sectors.
• By resin, acrylic flat glass coatings segment is expected to surge at an impressive CAGR of over 15% through 2031.
• Water-based flat glass coatings accounted for over 50% of total sales in 2020.

Key Drivers

• Increasing use of flat glass in residential and non-residential sectors is creating huge demand for flat glass coatings.
• Rapidly increasing production of solar equipment such as photovoltaic cells will create lucrative growth opportunity for the flat glass coatings market.
• High consumption of mirror coatings in decoration, architecture, beauty and cosmetic applications boosts the growth of the market.

Key Restraints

• Stringent regulations implemented on the use of solvent-based flat glass coatings restricts the growth of the market.

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Competitive Landscape

Leading players operating in the flat glass coatings market are focusing on expanding their global footprint. They are adopting various strategies such as mergers, collaborations, partnerships and production of ecofriendly coatings. This is expected to have positive impact on the growth of the market.

Some of the leading players operating in the flat glass coatings market profiled by Fact.MR are:

• Arkema Group
• Apogee Enterprises Inc.
• Anhui Sinograce Chemicals Co. Ltd.
• Advanced NanoTechnology Lab (ANT Lab)
• Bee Cool Glass Coatings
• The Sherwin Williams Company
• Tribos Coatings Ltd.
• Diamon-Fusion International Inc.
• Ferro Corporation
• Glas Trosch Holding AG
• Nanonix Japan
• Warren Paint & Color Co.
• Yantai Jialong Nano Industry Ltd.

More Insights on the Global Flat Glass Coatings Sales Outlook

Fact.MR provides an unbiased analysis of flat glass coatings market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for flat glass coatings with a detailed segmentation on the basis of:

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

Resin

• Polyurethane Flat Glass Coatings
• Epoxy Flat Glass Coatings
• Acrylic Flat Glass Coatings
• Other Resin Flat Glass Coatings

Technology

• Solvent-based Flat Glass Coatings
• Water-based Flat Glass Coatings
• Nano Flat Glass Coatings

Key Questions Covered in the Flat Glass Coatings Market Outlook Report

• The report offers insight into flat glass coatings demand outlook for 2021-2031
• The market study also highlights projected sales growth for flat glass coatings market between 2021 and 2031
• Flat glass coatings market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
• Flat glass coatings market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

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About Fact.MR

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SOURCE Fact.MR