The glass coating market industry is projected to grow from USD Significant by 2032, exhibiting a compound annual growth rate (CAGR) of moderate during the forecast period (2023 - 2032). The surge in research activity pertaining to novel bio-based raw materials for glass coatings has resulted in a notable expansion of the glass coating market in Asia Pacific. Furthermore, the increase in car sales is anticipated to be the primary cause of the rise in glass coating demand, serving as a key market drivers for the glass coating market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The growing need for energy-efficient vehicles, buildings, and other structures is one of the main factors propelling the glass coating sector. Because they improve insulation and limit heat transfer through the glass, glass coatings are essential for cutting down on energy use. One of the major companies in the industry, P.P.G. Industries, Inc., for instance, provides Solar ban glass coatings, which can cut building energy use by up to 20%. Buildings can become more energy-efficient by using glass coatings to reduce heat gain, minimize glare, and enhance thermal insulation. Because they may reflect infrared radiation and lessen heat loss through windows, low-emissivity (low-E) coatings are a popular option because they lessen the demand for heating and cooling systems. Furthermore, buildings contribute more than 30% of the world's energy consumption and almost 20% of greenhouse gas emissions, according to a report by the International Energy Agency (IEA). Globally, there is a growing need for energy-efficient buildings due to factors such rising energy costs, stringent building rules and regulations, and growing worries about climate change. These factors are also driving the glass coating market.
Glass coatings also make glass surfaces more resilient to dents and scratches, increasing their longevity. In the automotive sector, where coated glass is utilized for windows, mirrors, and windshields, it is very important. Because coated glass is so frequently used in windshields, windows, and mirrors, the automotive industry is a major consumer of scratch-resistant coatings. Additionally, there is a rising need in a number of businesses for sustainable and environmentally friendly products. Glass coatings produced using natural and environmentally friendly ingredients can help businesses meet this need and gain a competitive edge. Glass coatings manufactured from natural and sustainable materials can help businesses meet this need and gain a competitive edge. Thus, driving the glass coating market revenue.
The Asia Pacific Glass Coating market segmentation, based on type includes Pyrolytic Coating, Magnetron Sputtering Coating, and Sol-gel Coating. The sol-gel coating category led the market in 2022. Numerous features, such as anti-fogging, self-cleaning, and anti-microbial qualities, are offered by sol-gel coatings. They are utilized in many different products, including lab glassware, electronic displays, and windshields for automobiles. The formulation flexibility of sol-gel coatings allows for the insertion of various additives to obtain desired qualities.
The Asia Pacific Glass Coating market segmentation, based on technology, includes Nano Glass Coating and Liquid Glass Coating. The nano glass coating category generated the most income because of its outstanding qualities, which include water resistance, scratch resistance, and self-cleaning qualities. Because these coatings can increase the resilience and longevity of glass surfaces, they are frequently employed in construction and automotive applications. The rapidly rising demand for sophisticated glass products and energy-efficient buildings across a range of end-use industries is likely to propel significant growth in the nano-coating market.
Figure 1: Asia Pacific Glass Coating Market, by Technology, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Asia Pacific Glass Coating market segmentation, based on application, includes Construction, Paints & Coatings, Automotive & Transport, Marine, Aviation, Aerospace, and Others. The construction category generated the most income because the market for sustainable and energy-efficient buildings is expanding quickly. Glass coatings are a crucial part of contemporary construction projects because they can lower energy consumption and enhance indoor air quality. Because of the growing need for green buildings and the implementation of strict energy efficiency requirements, it is anticipated that the usage of glass coatings would increase dramatically in this industry.
Asia Pacific glass coating market is anticipated to grow at a significant rate over the forecast period. It is expected that developed economies in Asia-Pacific, including South Korea, Japan, Australia, and China, will play a vital role in driving the expansion of the regional market. In addition, the region's quickly growing construction and automotive industries are anticipated to increase product demand over the projection period. Due to the nation's explosive growth in the building and automotive sectors, China is also one of the Asia Pacific region's biggest users of glass coatings. The nation's need for glass coatings is fueled in part by government measures to support energy-efficient automobiles and green buildings.
Figure 2: ASIA PACIFIC GLASS COATING MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the glass coating market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, glass coating industry must offer cost-effective items.
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)