MarketsandMarkets™ Study- Will Architectural Applications Overtake Mirror Coating Suppliers as the Primary Revenue Generator?
Mirror coatings are highly reflective optical coatings that are applied to the surface of a substrate, typically glass. This reflective surface has a wide range of applications, including optical components in telescopes and microscopes, as well as ornamental uses in mirrors and other reflective surfaces. Mirror coatings can be made to reflect a specific wavelength of light or all visible light. They can also be engineered to eliminate glare and reflections from a surface, as well as to minimise image distortions by boosting the optical system’s efficiency.
The report “Mirror Coatings Market by Resin Type (Polyurethane, Epoxy, Acrylic), Technology (Water-based, Solvent-based, & Nanotechnology-based coatings), Substrate (Silver, Aluminum), End-Use Industry, & Region – Global Forecast to 2026″, is projected to grow from USD 642 Million in 2021 to USD 829 Million by 2026, at a CAGR of 5.3% during the 2021-2026 period. The driving factor for the mirror coatings market is an increase in urbanization & increase in the income level of people and high growth in end-use industries like Architectural and Solar Power.
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Architectural is the largest end-use industry of Mirror coatings market
One of the most important end-use sectors for mirror coatings is the architecture industry. Mirror coatings are utilised in the architectural industry for a range of purposes, including elevators, escalators, and public staircases, as well as interior and exterior ornamental applications. Mirror coatings are frequently utilised in buildings to reduce glare and improve the effectiveness of lighting systems. Furthermore, mirror coatings are utilised on the exterior of structures to generate a reflecting appearance and to improve the aesthetics of the building. Mirror coatings are projected to become more popular in the architecture industry as the need for energy-efficient and aesthetically beautiful buildings grows.
Nanotechnology-based coatings is the fastest-growing technology of the mirror coatings market.
Nanotechnology-based coatings are reshaping the mirror coatings market by improving optical characteristics, increasing endurance, and lowering optical distortion. Nanotech coatings are often applied as a solution comprising nanostructured particles that allow for molecular alteration of the substrate’s surface. This allows for the creation of highly reflective coatings that are both robust and optically clean. These coatings are also abrasion, moisture, and chemical resistant.
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APAC is the largest Mirror coatings market globally.
The Asia-Pacific (APAC) region has the world’s largest mirror coatings market. This is owing to rising demand for optical coatings in a variety of industries, including automotive, consumer electronics, and medical devices. The region is also seeing significant expenditures in the development of innovative optical coatings, which is boosting market expansion. Furthermore, rising demand for consumer electronics such as smartphones and tablets is likely to drive regional market growth.
By investing in research and development, the US government can provide opportunities for mirror coating businesses. This would aid in the development of new technologies and procedures for producing higher quality and more efficient mirror coatings. Furthermore, the government could grant tax breaks or subsidies to manufacturers to encourage them to invest in the development of new technologies and procedures. Finally, the government might establish industry standards and regulations to ensure that mirror coatings are manufactured safely and effectively.
The key players operating in the market are FENZI Group (Italy), The Sherwin Williams Company (US), and Ferro Corporation (US) and others.
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