Market
Insight
The global
glass coating market is anticipated to grow at a moderate CAGR during the
forecast period (2017-2023), reports Market Research Future (MRFR). Glass
coating is used to give high performance and surface finish to materials, thus
making it essential in a wide array of applications. It provides excellent UV
resistance, high optical activity, and cleansing properties. On account of
these properties, the global glass coating market during the forecast period is
projected to grow phenomenally.
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Moreover,
accelerated demand from end-use industries such as construction, paints &
coatings, automotive & transport, and others is likely to be of added
advantage to the global market growth. Also, the fact that glass coating is
utilized to save energy and reduce carbon emissions makes it highly appealing
across various industries. Furthermore, increasing sales of vehicles are
expected to propel the rise in demand for glass coating, thereby shaping the
market size favorably. Another observation made by MRFR is that there has been
a steady rise in the construction industry in developed countries as well as
developing countries, a major driver that has led to substantial market growth
in the recent past.
On the flip
side, high cost of coated glass serves as an obstacle in the global glass
coatings market growth. However, sidelining the restraints, it is noted as per
analysis that the future prospects for the global market seem bright. This
growth can be partially attributed to new solar panel glass windows that
require specific coating. Hence, new emerging applications of glass coating in
a plethora of industries mark the positive rise the market is witnessing. For
instance, in May 2018, ZNShine Solar launched the G12 evolution era series
which are used to increase light transmission performance of the glass when
used as coating.
Market
Segmentation
As per MRFR
analysis, the market has been segmented on the basis of type, technology, and
application.
The type
segment is sub-segmented into pyrolytic coating, magnetron sputtering coating,
and sol-gel coatings. Among all types, pyrolytic coating claims the maximum
market share of the global glass coatings market. Pyrolytic coatings are
applied using chemical vapor deposition method, which offers excellent optical
activity performance. On the other hand, magnetron sputtering coating comes
second holding the second-largest market share. It is applied via physical
vapor deposition method, and it helps reduce thermal damage and also improves
secondary electron emission. Whereas, the sol-gel coatings are prepared by
wet-chemical technique that helps protect the glass from abrasion, corrosion
resistance and also provide long-lasting duration. The report predicts that the
sol-gel coating segment is set to surge at the highest CAGR during the forecast
period.
The
technology segment is sub-segmented into nano glass coating and liquid glass
coating. Nano glass coating provides various benefits such as durability,
protecting paint from naturally acidic contaminants and ultra violet damage and
also act as a barrier between the vehicle and scratches. These advantages make
them ideal for glass coating, triggering their demand. Nano glass coating is
projected to dominate the global market during the forecast period.
The
application segment is sub-segmented into construction, paints & coatings,
automotive and transport, marine, aviation, aerospace, and others. Among these,
the construction industry is expected to grow at the highest CAGR during the
forecast period. Glass coating is in high demand in construction due to various
benefits, such as energy efficiency, visible transmittance, greenhouse effect
and high strength.
Regional
Analysis
The global
glass coating market is regionally segmented on the basis of Asia Pacific,
Europe, North America, Latin America, and the Middle East & Africa.
Globally,
Asia Pacific holds a significant share of the global glass coating market trailed by Europe and North America
owing to its growing applications in end-user industries such as construction,
paints & coating, marine, and others.
Technological
advancement in the field has boosted the market growth in North America as well
as countries in Europe such as Germany, Italy, the U.K, and France. Continuous
research and development activities adopted by the regional market players
leads to new and more enhanced products, resulting in a sharp rise in the
demand for glass coating in the region.
The global
market has also witnessed tremendous development in the Middle East &
Africa region due to prominent trends such as energy storage and optical
effect. Environmental concerns drive the market growth immensely, as glass
coating helps save energy and protects from harmful UV rays as well. Hence,
keeping in mind the eco-friendly benefits glass coating provides, the market
enjoys massive growth in the region.
Lastly, the
Latin America region is estimated to show steady growth on account of
increasing usage of glass coating in heavy-end industries throughout the
forecast period.
Key
Players
The key
players competing in the global market are SCHOTT AG (Germany), Kyocera Corp
(Japan), PPG Industries (U.S.A.), Morgan Advanced Materials (U.K.), The NSG
Group (Japan), Murata Manufacturing Co., Corning Inc.(U.S.A.), and Emirates
Float Glass (U.A.E), Saint-Gobain( France) and others.
Industry
Development
Huawei's
sub-brand Honor has partnered with Flipkart and launched "Honor 9N"
in India. The upcoming smartphone will possess a full-view notch display and a
2.5 diameter curved glass design with 12 layers of premium glass with nano
coating. This partnership will help Huawei which is a China-based company to
strengthen its position in the Indian smartphone market, with the move also
affecting the global glass coating market positively in the long run.
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