Mirror Coatings Market Estimated to Reach USD 829 Million by 2026 Globally, at a CAGR of 5.3%, says MarketsandMarkets™
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Chicago, May 04, 2023 (GLOBE NEWSWIRE) — The global 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 forecast period, as per the recent study by MarketsandMarkets. The driving factor for the Mirror coatings market are high growth in architectural and solar power industries. APAC, South America, and the Middle East & Africa are the fastest-growing segments of the mirror coatings market for architectural applications. This is due to ongoing investments in infrastructural development, increasing urbanization, and rising standards of living in these regions.
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Browse in-depth TOC on “Mirror Coatings Market”.
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217 – Market Data Tables
33 – Figures
208 – Pages
List of Key Players in Mirror Coatings Market:
- FENZI Group (Italy)
- The Sherwin Williams Company (US)
- Ferro Corporation (US)
Drivers, Restraints, Opportunities and Challenges in Mirror Coatings Market:
- Driver: Rising demand for mirror coatings in the construction and automotive industries
- Restraint: Drawbacks of water-based coatings
- Opportunity: Rising demand for low-VOC, green, and sustainable mirror coatings
- Challenge: Stringent regulatory policies and environmental challenges
Key Findings of the Study:
- Polyurethane resin type accounted for the largest share of the Mirror Coatings market.
- Automotive & Transportation is the second-largest end-use industry of Mirror Coatings market in 2021.
- APAC is the largest mirror coatings market in the forecast period.
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The FENZI Group is the global leader in chemicals for the glass processing industry. The Group was founded in Milan in 1941, where it still has its headquarters, and now has twelve factories in strategic markets across the continents. The company has four business units, which target different segments, such as mirror backing paints, sealants for IG units, decorative paints, and coatings for solar mirrors. FENZI group provides its mirror coating products with brand Duralux and Luxver. Both offer a unique set of products to cover the entire mirror production cycle. The company has its presence in North America, South America, Europe, and APAC. The company has regularly made strategic decisions help its firm to grow. It has undertaken necessary partnerships and acquisitions to have a hold in the market and become a global leader.
The Sherwin-Williams Company is a global leader in the development, manufacturing, distribution, and sale of paints, coatings, and related products to industrial, professional, retail customers, and commercial. The American Group, Consumer Brand Group, and Performance Coating Group are the business divisions of the firm among which American Group contributes maximum revenue with 57%. The Sherwin-Williams Company has a strong focus on R&D and introducing cutting-edge products for its customers.
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The company’s products are sold exclusively through a chain of more than 4,438 company-operated stores and facilities in the US, Canada, Latin America, and the Caribbean. It is providing a broad range of highly engineered solutions for the construction, industrial, packaging, and transportation markets in more than 120 countries around the world. Covering different industries and providing the best products according to the customer needs are making them one of the top players in the market.
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