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. 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.
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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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.
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