Mirror Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Mirror Coatings Market Analysis
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.
- 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.
Mirror Coatings Market Trends
This section covers the major market trends shaping the Mirror Coatings Market according to our research experts:
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.
Mirror Coatings Industry Overview
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.
Mirror Coatings Market Leaders
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Tianjin Xin Lihua Color Materials Co., Ltd (NBC).
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General Optics (Asia) Limited
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CASIX
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The Sherwin-Williams Company
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Arkema Group
*Disclaimer: Major Players sorted in no particular order
Mirror Coatings Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Growing Demand from the Construction Industry
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4.1.2 Increasing Application in the Solar Power Industry
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4.2 Restraints
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4.2.1 High Cost of Mirror Coatings
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4.2.2 Other Restraints
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4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Resin Type
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5.1.1 Epoxy
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5.1.2 Acrylic
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5.1.3 Polyurethane
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5.1.4 Other Resin Types
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5.2 Technology
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5.2.1 Nano Coatings
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5.2.2 Solvent-based
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5.2.3 Water-based
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5.2.4 Other Technologies
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5.3 End-user Industry
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5.3.1 Building and Construction
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5.3.2 Automotive and Tansportation
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5.3.3 Energy
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5.3.4 Other End-user Industries
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5.4 Geography
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5.4.1 Asia-Pacific
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5.4.1.1 China
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5.4.1.2 India
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5.4.1.3 Japan
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5.4.1.4 South Korea
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5.4.1.5 Rest of Asia-Pacific
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5.4.2 North America
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5.4.2.1 United States
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5.4.2.2 Canada
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5.4.2.3 Mexico
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5.4.3 Europe
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5.4.3.1 Germany
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5.4.3.2 United Kingdom
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5.4.3.3 France
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5.4.3.4 Italy
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5.4.3.5 Rest of Europe
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5.4.4 South America
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5.4.4.1 Brazil
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5.4.4.2 Argentina
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5.4.4.3 Rest of South America
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5.4.5 Middle East & Africa
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5.4.5.1 Saudi Arabia
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5.4.5.2 South Africa
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5.4.5.3 Rest of Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share/Ranking Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 Arkema Group
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6.4.2 CASIX
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6.4.3 Diamon-Fusion International Inc.
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6.4.4 Dynasil Corporation
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6.4.5 Edmund Optics Inc.
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6.4.6 FENZI SpA
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6.4.7 General Optics (Asia) Limited
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6.4.8 GUARDIAN GLASS
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6.4.9 North American Coating Laboratories
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6.4.10 PearlNano LLC
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6.4.11 The Sherwin-Williams Company
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6.4.12 Tianjin Xin Lihua Color Materials Co. Ltd (NBC)
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Development of Low-VOC Coatings
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7.2 Other Opportunities
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Mirror Coatings Industry Segmentation
The mirror coatings market report includes:
| Resin Type | |
| Epoxy | |
| Acrylic | |
| Polyurethane | |
| Other Resin Types |
| Technology | |
| Nano Coatings | |
| Solvent-based | |
| Water-based | |
| Other Technologies |
| End-user Industry | |
| Building and Construction | |
| Automotive and Tansportation | |
| Energy | |
| Other End-user Industries |
| Geography | |||||||
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Mirror Coatings Market Research FAQs
What is the current Mirror Coatings Market size?
The Mirror Coatings Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
Who are the key players in Mirror Coatings Market?
Tianjin Xin Lihua Color Materials Co., Ltd (NBC). , General Optics (Asia) Limited , CASIX , The Sherwin-Williams Company and Arkema Group are the major companies operating in the Mirror Coatings Market.
Which is the fastest growing region in Mirror Coatings Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Mirror Coatings Market?
In 2024, the Asia Pacific accounts for the largest market share in Mirror Coatings Market.
What years does this Mirror Coatings Market cover?
The report covers the Mirror Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mirror Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mirror Coatings Industry Report
Statistics for the 2024 Mirror Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mirror Coatings analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
