Global glass coatings market is expected to record a valuation of $5.03 billion by the end of 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
Glass coating made from silica and siloxane is clear pure liquid that hardens on coming in contact with air. These materials are extensively used in residential and commercial construction, solar panels, and the automotive sector to save energy and reduce emissions.
In 2017, the nano glass coating segment dominated the global market, in terms of revenue. Given the increasing use in vehicles and the growing demand from the construction sector in countries like India, China, and Japan, Asia Pacific is estimated to be one of the leading contributors to the global glass coatings market revenue during the forecast period.
According to the report, stringent energy regulations adopted by government bodies across the world, will further drive the demand for glass coatings over the coming years. This trend has picked pace due to growing concerns pertaining to energy efficiency, the rising need to reduce energy consumption, and the rising demand from the automotive sector. The rising sale of vehicles, particularly in developing nations, paired with the growing adoption of solar installations, will drive market growth. In addition, the rising adoption of energy efficient buildings and the need to reduce operation costs will also boost market growth during the forecast period. Other factors contributing to the global glass coatings market growth include favorable regulatory landscape, increasing awareness about energy efficiency, along with increasing product demand from emerging economies. Additionally, vendors' increasing investments toward technological advancements as well as research and development will further boost market growth, cites the report.
The report provides an in-depth analysis of the glass coatings market drivers, restraints, and opportunities over the forecast period. A deep dive analysis of the report in terms of end-users, product benchmarking, regional landscape, and competitive profiling has also been detailed in the report.
Some of the key findings of the report include:
• The awareness surrounding green buildings and reduction in operation costs promote investments in glass coatings across commercial establishments. Commercial structures like manufacturing plants, offices, and institutes are extensively using glass coatings to reduce emissions, increase efficiency and improve energy use.
• In terms of the regional landscape, Asia-Pacific generated maximum proceeds in the glass coatings market in 2018. The market is primarily driven by the rising rate of vehicle sales in nations such as India, Japan, and China coupled with the growing demand from the construction sector. Increasing use in vehicles along with rising awareness pertaining to energy efficiency in buildings will continue to drive market growth in the region.
• Speaking of key player strategies, market magnates in the Asia-Pacific have embraced expansion strategies and partnerships to boost the market share in the region.
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The immensely assorted end-user spectrum of the industry includes construction, transportation, automotive, aerospace, marine, and other sectors. The material finds its uses in windows, windshields, and doors in automotive, as it reduces heat accumulation in vehicles and provides high UV resistance and optical activity.
The report has segmented the global glass coatings market based on type, end-use, technology, and region. Glass coatings type section includes a detailed summary of pyrolytic coating, sol-gel coatings, magnetic sputtering coating, and others, while the technology segment encompasses nano glass coatings and liquid glass coatings.
The competitive landscape of glass coatings market comprises of prominent players like Saint-Gobain, Kyocera Corp, Henkel A.G., PPG Industries, The NSG Group, Corning Inc, Euroglas GmbH, Murata Manufacturing Co. Ltd, The Sherwin-Williams, and Valspar Corporation. These key industry participants are consistently introducing new innovative products to enhance their foothold in the market. Driven by a slew of technological advancements, companies are designing and launching products that suffice customer demands in a better way. Major players are also acquiring other firms and enhancing their product portfolio in a bid to improve market reach.