Mirror Coatings Market - Global Forecast to 2022

DUBLIN, Feb. 28, 2018 /PRNewswire/ —

The “Mirror Coatings Market by Resin Type (Polyurethane, Epoxy, Acrylic), Technology (Solvent & Water-Based, Nano Coatings), Substrate (Silver, Aluminium), Application (Architectural, Decorative, Solar Power)-Global Forecast to 2022” report has been added to ResearchAndMarkets.com’s offering.

In terms of value, the mirror coatings market is estimated to be USD 618.4 Million in 2017 and is expected to reach USD 892.0 Million by 2022, at a CAGR of 7.60% from 2017 to 2022.

The market includes backing paints used in silver and aluminum mirrors. The increasing demand for mirror coatings across various applications, such as architectural, automotive, and solar energy is driving the market for mirror coatings.

The mirror coatings market is segmented on the basis of resin type, substrate, technology, application, and region. Based on resin type, the mirror coatings market is segmented into polyurethane, epoxy, acrylic, and others. The polyurethane resin segment is expected to grow at the highest CAGR from 2017 to 2022. Polyurethane resin-based coatings are used in commercial buildings, CSP solar panels, and decorative applications. Polyurethane resins are used in industrial and architectural coating systems as finish coats and are applied over the primer and intermediate coats to achieve a long-term protective coating.

Based on technology, the mirror coatings market is segmented into solvent-based, water-based, and nano coatings. The nano coatings segment is expected to grow at the highest CAGR during the forecast period. The growing solar power industry is expected to contribute to the growth of the nano coatings segment during the forecast period. The growing preference for advanced materials in the solar power industry led to an increase in nanotechnology R&D, which will, in turn, boost the nano coatings segment.

Based on application, the mirror coatings market is segmented into architectural, solar power, automotive & transportation, decorative, and others. Mirrors are used across all major applications, such beauty & cosmetics, architectural, decorative, and automotive & transportation.

The mirror coatings market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. The rising demand for mirror coatings from countries, such as India, China, South Korea, Vietnam, Taiwan, and Singapore is driving the market for mirror coatings. China is expected to lead the demand for mirror coatings in the region, due to its increased industrial production.

Key players operating in the mirror coatings markets include Arkema (France), Fenzi (Italy), Ferro Corporation (US), Sherwin-Williams Company (US), Vitro Architectural Glass (Mexico), SunGuard (Guardian Glass) (US), Diamon-Fusion International (US), Pearl Nano (US) Mader (France), Tianjin Xin Lihua Color Materials (China), High Ding Industrial (Grincoat) (Taiwan), and Casix (China).