According to the new market research report “Flat Glass Coatings Market by Resin Type (Polyurethane, Epoxy, Acrylic), Technology (Solvent and Water-Based, Nano Coatings), Application (Mirror, Solar Power, Architectural, Automotive & Transportation, Decorative), and Region – Global Forecast to 2022″, is estimated to be USD 1,075.8 Million in 2017 and is projected to grow at a CAGR of 20.99% between 2017 and 2022 to reach USD 2,789.6 Million by 2022, in terms of value. Coatings in flat glass are used to enhance the water-repellent ability (automobile glass, spectacle lenses, and shower walls) as well as thermal, UV protection, heat protection, shatter protection, graffiti protection, dust protection, and optical performance characteristics of the flat glass. The various applications of flat glass coatings include mirror, solar power, architectural, automotive & transportation, decorative, and electronics & appliances. Growth in application industries, especially in Asia Pacific, is driving the global flat glass coatings market.
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Polyurethane resins are made from reacting polyalcohol and organic di-isocyanate. Polyurethane resin-based coatings possess properties such as high durability, toughness, and high gloss and are easy to clean. Owing to these properties, they are used in various applications worldwide. Polyurethane resin-based coatings are also used where high performance is expected, such as greenhouse buildings, solar panels, and space shuttles. Polyurethane resins are used in industrial and architectural coating systems as topcoats and are usually applied over primer to attain a long-term protective coating.
The nano coatings market has been growing significantly globally during the past few years and is projected to display higher growth rates in the next five years. The growing automotive and electronics industries are expected to boost the nano coatings market during the forecast period. Growth in the coatings sector coupled with rising demand and urbanization in BRIC countries has been driving the global nano coatings market in the past few years. Increasing preference for advanced materials in the automotive industry has led to a surge in nanotechnology R&D, which, in turn, is expected to boost the nano coatings market growth.
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The flat glass coatings market size is expected to reach USD 2,789.6 Million by 2022, at a CAGR of 20.99% between 2017 and 2022. Coatings in flat glass are used to enhance the thermal, UV protection, heat protection, water-repellent (automobile glass and shower walls), shatter protection, graffiti protection, and optical performance characteristics of the flat glass. Coated flat glasses are used in mirror, construction, automotive & transportation, decorative, and solar power, among other applications.
Acquisition was the major developmental strategy adopted by key players in the flat glass coatings market. This strategy has helped companies operating in the flat glass coatings market enhance their product portfolios and expand their global presence. Key companies also focused on entering new markets by launching technologically advanced eco-friendly flat glass coatings for varied end-use industries. Some of the leading manufacturers of flat glass coatings include Arkema (France), FENZI (Italy), Ferro Corporation (US), Sherwin-Williams Company (US), Vitro Architectural Glass (Mexico), NIPPONPAINT (Japan), SunGuard (Guardian Glass) (US), DIAMON-FUSION INTERNATIONAL (US), and Tribos Coatings (International) Ltd. (UK).
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Ferro Corporation is a highly active key player in the flat glass coatings market. The company offers flat glass coatings under the brand names Silver Pastes, Xpression, and SpecTruLite, among others. The company accounted for the largest share of all developmental activities that took place in the flat glass coatings market between 2014 and 2017. As a part of its inorganic growth strategies, the company focused on enhancing its presence in the South American region. For instance, in 2017, Ferro Corporation (US) acquired Dip-Tech Ltd. (Israel), a leading provider of digital printing solutions for glass coatings, with an investment of USD 60 million to cater to the growing demand from South America. Ferro expects a return on Invested Capital of more than 15% within the first five years of the acquisition.
Another key player that has established a strong foothold in the flat glass coatings market is Vitro Architectural Glass. This company concentrates on expanding its customer base through acquisitions. For instance, in October 2016, it successfully concluded the acquisition of the flat glass business from PPG (US). PPG received approximately USD 740 million in cash proceeds and recorded a pre-tax gain on the sale of USD 421 million. The acquired business includes PPG’s entire flat glass manufacturing and glass coatings operations in the US and Canada, which includes four manufacturing plants with a total of five flat glass furnaces, a research and development center, and four distribution and fabrication facilities in Canada. This acquisition helped the company to focus on CNT manufacturing with graphene, besides increasing its sales and business in emerging markets.
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