The global mirror coatings market size is expected to reach USD 979.6 Million in 2028 and register a revenue CAGR of 6.3% during the forecast period, according to a latest report by Reports and Data. Rising demand for concentrated solar power panels and increasing adoption of nanotechnology-based coatings are factors expected to boost market revenue growth to a significant extent. Coatings based on nanotechnology are being widely used to create a surface that repels dry particles, water, oil, and dirt. In addition, nanotechnology-based coatings make mirror surfaces scratch resistant, increase hardness, and prevent bacterial growth. This indicates that nanotechnology-based mirror coatings are anti-corrosive, waterproof, anti-abrasion, and anti-reflective in nature. Furthermore, nanotechnology-based mirror coatings contain polymer gels that have self-healing or self-cleaning capabilities. Presence of hybrid polymers and silicon-based mixtures make the coatings dirt and water resistant. Hence, nanotechnology-based mirror coatings are used in helmet visors, automobile glasses, eyeglasses, and other applications to reduce fogging due to its self-cleaning feature.
However, rising concerns regarding possibilities of degradation of mirror coatings is a major factor that could restrain market revenue growth to some extent over the forecast period. Mirror coatings increase the reflectivity feature of surfaces, making it more durable and scratch-resistant. However, mirror coatings degrade when compounds react with water and air oxidizing the metals in the coating. The level of deterioration is influenced by external environmental conditions, and mirror coating degradation changes the protective function, resulting in corrosion of the reflecting layer, and result in loss durability of mirror glass. Resistance of mirror coatings is measured by the changes in physical qualities, and the resistance of mirror coatings to environmental impacts is measured in terms of physical damage such as rusting, degradation, and others. As a result, mirror coatings should be cleaned once a year to prevent deterioration.
Major companies profiled in the global market report include The Sherwin-Williams Company, Arkema S.A, Vitro Architectural Glass, Ferro Corporation, CASIX Inc., FENZI S.p.A, Guardian Glass LLC, PearlNano LLC, Diamon-Fusion International, Inc. (DFI), and Tianjin Xin Lihua Color Materials Co. Ltd.
Some Key Highlights in the Report
- Silver segment is expected to account for largest market share over the forecast period, due to rising need for silver coated mirrors to reflect UV rays in buildings, as silver coating is more reflective than aluminum. Silver mirror coating has the highest reflectivity to sunlight, which effectively lowers glare and keeps the interior of building cool.
- Building and construction segment is expected to register a significantly high revenue growth rate over the forecast period because of rapidly growing construction industry, which is leading to increasing use of mirror coatings in various applications such as windows, solar panels, etc.
- The market in North America is expected to register considerably high revenue CAGR over the forecast period, due to robust presence of mirror coating glass providers in countries such as U.S, Canada, and Mexico in the region.
- In September 2021, FENZI S.p.A, which is a Europe-based company, launched Duralux, a whole line of water-based lead-free, glass-silvering mirror-backing paints with very low VOC emissions. The coating is of high quality, eco-friendly, good reflective quality, along with safety, and other chemical properties. This is a single-coat, simple-to-apply painting technique that is suitable for curtain or spray application, is completely lead-free, and can be used on the majority of current mirror lines that use normal solvent-based paints.
- In July 2020, Flat Glass Distributors, LLC, which is a US-based company, announced the use of Diamon-Fusion glass treatment to the fabrication products. Diamon-Fusion International Inc.’s FuseCube Express coating equipment will also be used to streamline the glass treatment process. Flat Glass Distributors LLC is adding Diamon-Fusion products to protect their products from degradation. In addition, the partnership will help in removing water stains and prevent all products from corrosion.
For the purpose of this report, Reports and Data has segmented the global mirror coatings market on the basis of resin type, technology, substrate, application, and region:
- Resin Type Outlook
- Technology Outlook
- Nanotechnology-based Coatings
- Solvent-based Coatings
- Water-based Coatings
- Substrate Outlook
- Application Outlook
- Building and Construction
- Automotive and Transportation
- Solar Power
- Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa