The global flat glass coatings industry size was valued at USD 1.96 billion in 2021. The market is projected to grow from USD 2.22 billion in 2022 to USD 7.05 billion by 2029, exhibiting a CAGR of 18.0% during the forecast period.
This information is published by Fortune Business Insights, in its report, titled, “Flat Glass Coatings Market, 2022-2029.”
List of Key Players Mentioned in the Report:
- Arkema S.A. (France)
- The Sherwin-Williams Company (U.S.)
- Nippon Sheet Glass Co., Ltd (Japan)
- Guardian Glass (U.S.)
- Ferro Corporation (U.S.)
- Fenzi Group (Italy)
- Corning Inc. (U.S.)
- Vitro Architectural Glass (Mexico)
- Hesse GmbH & Co. KG (Germany)
- Viracon (U.S.)
Rise in Demand from Solar Applications to Fuel Market Growth
Even though coated glass is expansively being utilized in the solar industry, the market is promptly expanding. The surging usage of coatings in solar glass panels is thrusting the market. Unstable inclination of consumers toward green and clean energy sources is increasing the demand for solar panels. This augmented the adoption of flat glass coatings.
Asia Pacific to Dominate Backed by Heavy Adoption of Product
The market size in Asia Pacific stood at USD 1.28 billion in 2021. Asia Pacific holds the largest flat glass coatings market share, and it is anticipated to endure to do so throughout the forecast period.
In North America, glass coatings are registering great usage rate as the demand for energy-efficient buildings is increasing. Moreover, nations and developed businesses in the region are majorly spending on solar power technologies to reduce their dependence on traditional energy sources.
The growing demand from prime nations comprising Germany and France is projected to amplify the utilization of flat glass coatings in Europe.
Procurements Instigated by Major Companies to Support Market Growth
The dominating players in the market incessantly opt for proficient tactics to bolster their brand value as well as promote the global market growth. One such effective plan is purchasing competitive companies and further ensuring a hefty profit for both involved companies.
Key Industry Development:
November 2021: Fenzi Group, a dominating adhesives and sealants producer for the glass industry, has declared the procurement of the Advanced Glass Technologies division of Johnson Matthey (JM) Advanced Glass Technologies (AGT)