CHICAGO, Oct. 14, 2021 /PRNewswire/ -- According to the new market research report "Mirror Coatings Market by Resin Type (Polyurethane, Epoxy, Acrylic), Technology (Water-based, Solvent-based, & Nanotechnology-based coatings), Substrate (Silver, Aluminum), End-Use Industry, & Region - Global Forecast to 2026", published by MarketsandMarkets, the Mirror Coatings market is projected to grow from USD 642 Million in 2021 to USD 829 Million by 2026, at a CAGR of 5.3% during the 2021-2026 period. The driving factor for the mirror coatings market is increase of urbanization & increase in income level of people and high growth in end-use industries like Architectural and Solar Power.
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Architectural is the largest end-use industry of Mirror coatings market
The mirror coatings market is growing due to the growth in the architectural industry. The building & construction sector is growing gradually and is expected to lead to the growth of use of mirror coatings. In architectural applications, mirrors are used in kitchens, bars, hotels, beauty salons, lifts, gyms, washrooms, buildings, and others. Due to the rising demand from all these sectors, mirror coatings manufacturers are increasing their production capacities and focusing on customizing their products to suit the needs of end users in various regions. Demands differ by regions and according to the varying preferences.
Nanotechnology-based coatings is the fastest-growing technology of the mirror coatings market.
Nanotechnology is no longer just a promising field of research. Various nanotech solutions have made their way into everyday life - one of the most prominent being the use of ceramic and mirror coatings for waterproofing, whether it be a second liquid glass skin for cars or a side rearview mirror. Nanotechnology has made it possible to waterproof almost any material. From sustainable textiles to cars or buildings: a so-called ceramic coating or a nano coating helps keep water and dirt from clinging to any surface. It can also provide protection from corrosion, scratches, and graffiti. Whatever the kind of surface or material, the nano coating provides waterproofing, increasing the lifespan and durability of any mirror.
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APAC is the largest Mirror coatings market globally.
APAC is projected to lead the mirror coatings market and this dominance is expected to continue till 2026. The market in the region is witnessing high growth in Architectural, Automotive & Transportation, and Solar Power. The key markets in the region include China, India, Japan and South Korea. India, China, and Indonesia are investing heavily in various end-use industries, which is likely to influence market growth.
The key players profiled in the mirror coatings market report are Ferro Corporation (US), FENZI Group (Italy), The Sherwin Williams Company (US), Tianjin-Xin-Lihua-Color-Matterials(NBC) (China) and AGC Inc (Japan).
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