Rising environmental consciousness among consumers is the rising demand for eco-friendly glass coatings.
The global Automotive Coating Market size was USD 2.28 Billion in 2022 and is expected to register a revenue CAGR of 20.5% during the forecast period. Rising demand for clean label, or eco-friendly coatings, along with the rising implication of coatings on solar panels with increasing dependency on renewable energy sources is driving revenue growth of the Automotive Coating market.
Steps and initiatives taken by various government authorities towards encouraging the construction of green buildings are other major factors driving revenue growth of the flat glass coating market. The global initiative Advancing Net Zero, developed by the World Green Building Council, aims to completely decarbonize all sectors by 2050. The major objective of the program is to work with Green Building Councils around the network to create tools, programs, and resources to highlight the necessity and feasibility of net-zero carbon buildings while also driving the industry’s capability to produce them.
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Top Lading Players: Arkema, FENZI, Ferro Corporation, Sherwin-Williams Company, Vitro Architectural Glass, NIPPONPAINT, SunGuard, Hesse, DIAMON-FUSION INTERNATIONAL, and Tribos Coatings Ltd.
Some Key Highlights from the Report:
- The market is divided into acrylic, polyurethane, epoxy, and other segments based on the type of resin used. Due to the resin’s adaptability, the acrylic category, which accounted for the biggest market share in 2021, is anticipated to maintain its dominance by the end of the forecast period. Clearness and weather resilience are two qualities associated with acrylic resins. Depending on the performance requirements, they can be built in a variety of ways, ranging from extremely hard to highly sticky. Glass is given water resistance, hardness, and longevity by polyurethane resin coatings, which can also be made in clear and frost finishes.
- In 2021, the Asia Pacific market had a value of USD 1.28 billion. The region with the biggest market share is expected to keep doing so for the duration of the forecast. The market has expanded in the area as a result of the area’s rapid population growth as well as an increase in infrastructure construction activities.
- The leading producer and supplier of flat glass worldwide is China. Additionally, India is quickly rising to prominence as one of the world’s top makers of home appliances and consumer electronics. Increased foreign direct investment and consumer electronics companies setting up manufacturing facilities in the nation will support flat glass production and boost demand for Automotive Coating.
- At its factory in Carleton, Michigan, Guardian Glass began producing 130″ x 240″ or superjumbo, SunGuard coatings on clear or Guardian UltraClear float glass in September 2021. The maker of flat glass has reacted to the demand from architects who have pushed architectural boundaries with structures that maximise views and natural light for inhabitants in cutting-edge facades while still meeting energy performance norms and requirements.
Segments covered in the report:
Resin Type Outlook (Revenue, USD Billion; 2019-2030)
- Acrylic
- Polyurethane
- Epoxy
- Others
Operation Area Outlook (Revenue, USD Billion; 2019-2030)
- Indoor
- Outdoor
Technology Outlook (Revenue, USD Billion; 2019-2030)
- Water-based
- Solvent-based
- Nano Coatings
Application Outlook (Revenue, USD Billion; 2019-2030)
- Mirror
- Solar Power
- Architectural
- Automotive
- Decorative
- Others
Application Outlook (Revenue, USD Billion; 2019-2030)
- Residential
- Commercial
End-use Outlook (Revenue, USD Billion; 2019-2030)
- Building & Construction
- Automotive & Transportation
- Electrical & Electronics
- Others
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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