Glass Coating Market – Market Overview
The Global Glass Coating Market is growing with the impulsive pace; mainly due to the expanding automotive & aviation industries. According to a recent study report published by the Market Research Future, the global market of Glass Coating is prospering and expected to gain prominence over the forecast period. The market is estimated to demonstrate a remarkable growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2023).
Globally, the market for Glass Coating is driven by the region Asia Pacific, owing to growing consumption of hard coatings in construction, paints & coatings, automotive and transport, marine, aviation, aerospace, and others. These materials are used to impart unique cleansing properties such as repellence from dirt, snow, durable nature, aesthetic appearance, and glossy finish to the final product. Additionally, increasing consumption of coatings in the production of smart phones, tablets, computers, laptops, and others has led to a surge in demand for glass coating in the market.
Increasing demand for Pyrolytic Coatings in applications such as energy insulator on window glasses, anti-friction agent in moulding applications, and others signifies the growth of end-use industries. Moreover, growing consumption of product due to unique features offered by the product such as UV resistance, extended life, sustainability, and others provide an impetus to the glass coating market growth.
On the other hand, extensive use of advanced coatings such as nano and liquid glass coatings in major industries is projected to propel the market growth during the forecast period.
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Glass Coating are used in various end-use industries such as construction, paints & coatings, automotive and transport, and others. They are utilized due to rapid production of mobile gadgets and their accessories in developed and emerging economies. The growing demand of these materials has prompted the manufacturers and investors to shift their focus to Glass Coatings in end-use applications due to their enhanced energy storage, optical effect, and others. Additionally, the improving technological advancement and innovations of the product in the leading companies have resulted into a remarkable growth in the market during the forecast period.
Glass Coating Market – Regional Analysis
Geographically, Asia Pacific is leading the Global Glass Coating Market. China holds the major portion due to extensive use of superior coatings owing to rapid urbanization and industrialization in the region. Increasing consumption of the product in numerous applications such as construction, paints & coatings, automotive and transport, and others has boosted the market demand in Japan, and India. North America has witnessed a significant growth in the market owing to rapid consumption of Glass Coatings in end-use industries. A notable growth has been received by the European region due to implementation of strict rules and regulations to adopt energy saving materials instead of volatile organic compound emissions in major sectors. Additionally, the market is growing significantly in the Middle East & Africa and Latin America regions, due to extensive consumption of long-life, thermal resistant materials in the major industries.
Glass Coating Market- Competitive Landscape
The Glass Coating Market appears to be competitive with the presence of several large and small players operating in manufacturing and development of product. These key players compete with each other’s on the basis of quality, price, production and innovation. Glass Coating Market is set to grow at a significant rate which is likely to attract many newcomers to the market resulting into healthy competition in the future. Manufacturers operating in the glass coating market are struggling to respond to an increase in demand for the product from as construction, paints & coatings, automotive and transport, and other sectors attributed to technological advancement and growing demand for the product in major sectors. They ensure to deliver the best quality products based on innovative technologies, solutions and best practices.
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Industry/ Innovation/ Related News:
October 4, 2017 – Axalta Coating Systems (U.S.), one of the leading manufacturers of glass coating, declared that the company has launched a transparent, water-based coating that offer an invisible membrane to glass surfaces and provide high safety from exposure to the environment. This technology was developed by Glass Coatings Division of Spencer Coatings Group and later bought by Axalta Coating Systems in the end of June 2017. One of the sources of the company also announced that the product has completed several trials with the pharmaceutical companies to test its safety, features, and others. Therefore, these factors are expected to drive the market over the assessment period.
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