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Mirror Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 120 Pages
  • January 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5318767

The market for mirror coatings is expected to register a CAGR of about 5%, globally, during the forecast period. Growing demand from the construction industry and increasing applications in the solar power industry are driving market growth. On the flip side, the high cost of mirror coatings is expected to hinder the growth of the market.

Key Highlights

  • Mirror coatings market is expected to grow during the forecast period, owing to the increasing demand from the water and wastewater treatment plants.
  • The Asia-Pacific region dominates the market across the world, with the largest consumption from countries such as China, India, and Japan.

Key Market Trends

Increasing Demand from the Building and Construction Sector

  • Mirror coatings are backing paints used for optical reflection. They are based on silver and aluminum substrates. These coatings preserve the quality of overall finished products in terms of durability, color, and texture.
  • Mirrors are widely used in both residential and non-residential buildings. Mirror coatings offer protection against abrasion, scratching, rusting, chemical corrosion, etc. The construction sector leads to the application of mirror coatings.
  • It is estimated that in the United Kingdom around 27,000 - 50,000 new homes are to be built by 2022 where the application of mirror coatings is anticipated which in turn creates scope for this market.
  • Hence, owing to the growing construction activities, especially in Asia-Pacific and North American countries, the demand for mirror coatings is expected to increase over the forecast period.

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the market for mirror coatings during the forecast period. In countries, like China, India, and Japan, with the growing construction activities, the market for mirror coatings has been increasing in the region.
  • The largest producers of mirror coatings are located in the Asia-Pacific region. Some of the leading companies in the production of mirror coatings are Tianjin Xin Lihua Color Materials Co., Ltd (NBC), General Optics (Asia) Limited, CASIX, he Sherwin-Williams Company, and Arkema Group.
  • The Chinese government has rolled out massive construction plans, including making provisions for 250 million people in its new megacities, over the next ten years, creating scope for mirror coatings over the coming years.
  • Nearly, 9% of India’s GDP is spent on infrastructural services. The government of India has given an enormous momentum to the infrastructural sector, by allocating INR 5.97 lakh crore (~USD 92.22 billion), under the Union Budget 2018-2019 creating scope for the application of mirror coatings in its infrastructure services.
  • Apart from construction sector, mirror coatings are widely used in automotive, solar power industry, decorative and few other industries.
  • The aforementioned factors, coupled with government support, are contributing to the increasing demand for mirror coatings during the forecast period.

Competitive Landscape

The global mirror coatings market is fragmented, with the major players accounting for a marginal share. A few companies operating in the market include Tianjin Xin Lihua Color Materials Co. Ltd (NBC), General Optics (Asia) Limited, CASIX, The Sherwin-Williams Company, and Arkema Group.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Growing Demand from the Construction Industry
4.1.2 Increasing Application in the Solar Power Industry
4.2 Restraints
4.2.1 High Cost of Mirror Coatings
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5.1 Resin Type
5.1.1 Epoxy
5.1.2 Acrylic
5.1.3 Polyurethane
5.1.4 Other Resin Types
5.2 Technology
5.2.1 Nano Coatings
5.2.2 Solvent-based
5.2.3 Water-based
5.2.4 Other Technologies
5.3 End-user Industry
5.3.1 Building and Construction
5.3.2 Automotive and Tansportation
5.3.3 Energy
5.3.4 Other End-user Industries
5.4 Geography
5.4.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.4.2 North America United States Canada Mexico
5.4.3 Europe Germany United Kingdom France Italy Rest of Europe
5.4.4 South America Brazil Argentina Rest of South America
5.4.5 Middle East & Africa Saudi Arabia South Africa Rest of Middle East & Africa
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Arkema Group
6.4.2 CASIX
6.4.3 Diamon-Fusion International Inc.
6.4.4 Dynasil Corporation
6.4.5 Edmund Optics Inc.
6.4.6 FENZI SpA
6.4.7 General Optics (Asia) Limited
6.4.9 North American Coating Laboratories
6.4.10 PearlNano LLC
6.4.11 The Sherwin-Williams Company
6.4.12 Tianjin Xin Lihua Color Materials Co. Ltd (NBC)
7.1 Development of Low-VOC Coatings
7.2 Other Opportunities

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Arkema Group
  • Diamon-Fusion International Inc.
  • Dynasil Corporation
  • Edmund Optics Inc.
  • General Optics (Asia) Limited
  • North American Coating Laboratories
  • PearlNano LLC
  • The Sherwin-Williams Company
  • Tianjin Xin Lihua Color Materials Co. Ltd (NBC)