Flat Glass Coatings Demand to Increase Four-Fold by 2031 as Application in Making Solar Panels and Cells Grows

As Fact.MR, the global flat glass coatings market size is estimated to reach US$ 988 Mn in 2021.

As a result of increasing construction activities worldwide, the overall demand for flat glass coatings is set to accelerate at an impressive CAGR of 15% between 2021 and 2031. The global flat glass coatings market value is expected to top US$ 4 Bn by the end of 2031.

Expanding residential and commercial sectors will remain a chief growth driver of the market. Besides this, investment towards expansion of solar energy infrastructure will create attractive opportunities for sales of flat glass coatings.

Fact.MR has predicted the demand for flat glass coatings to increase considerably in China, Japan and the U.S. These countries are gradually transitioning from conventional sources of energy to solar power. As flat glass coatings are extensively used for making solar cells and panels, the global market is slated to expand by 4X through 2031.

According to the study, water-based flat glass coatings will continue to dominate the market. The segment accounted for over half of the revenue share in 2020. These coatings offer various high resistance to temperature changes and better adhesion, which is augmenting their application across various segment.

China is expected to spearhead the sales of flat glass coatings in East Asia. The demand for flat glass coatings in China is expected to grow by 20% through 2031. Growth in the country is attributable to the soaring demand for flat glass coatings across various industries such as automotive and construction. Acrylic flat glass coatings market accounted for 40% of the global market share in 2020. Furthermore, water-based flat glass coatings market is expected to witness proliferating demand.

"Government push to alternate sources of energy will create prospects for application of flat glass coatings for manufacturing solar cells and panels. This also will encourage the market players to focus on innovations to capitalize on existing opportunities for flat glass coatings application in solar power generation," says the Fact.MR analyst.

Key Drivers

• Increasing use of flat glass in residential and non-residential sectors is creating huge demand for flat glass coatings.

• Rapidly increasing production of solar equipment such as photovoltaic cells will create lucrative growth opportunity for the flat glass coatings market.

• High consumption of mirror coatings in decoration, architecture, beauty and cosmetic applications boosts the growth of the market.

Key Restraints

• Stringent regulations implemented on the use of solvent-based flat glass coatings restricts the growth of the market.

Some of the leading players operating in the flat glass coatings market profiled by Fact.MR are:

• Arkema Group

• Apogee Enterprises Inc.

• Anhui Sinograce Chemicals Co. Ltd.

• Advanced NanoTechnology Lab (ANT Lab)

• Bee Cool Glass Coatings

• The Sherwin Williams Company

• Tribos Coatings Ltd.

• Diamon-Fusion International Inc.

• Ferro Corporation

• Glas Trosch Holding AG

• Nanonix Japan

• Warren Paint & Color Co.

• Yantai Jialong Nano Industry Ltd.

Application

• Flat Glass Mirror Coatings

• Flat Glass Coatings for Solar Power Generation

• Flat Glass Coatings for Architectural Applications

• Flat Glass Coatings for Automotive Applications

• Flat Glass Coatings for Other Applications

Resin

• Polyurethane Flat Glass Coatings

• Epoxy Flat Glass Coatings

• Acrylic Flat Glass Coatings

• Other Resin Flat Glass Coatings

Technology

• Solvent-based Flat Glass Coatings

• Water-based Flat Glass Coatings

• Nano Flat Glass Coatings