Recent Developments & New Revenue Opportunities in Mirror Coatings Market Industry

Mirror Coatings market is projected to grow from USD 642 Million in 2021 to USD 829 Million by 2026, at a CAGR of 5.3% between 2021 and 2026. The driving factor for the Mirror coatings market are high growth in architectural and solar power industries. APAC, South America, and the Middle East & Africa are the fastest-growing segments of the mirror coatings market for architectural applications. This is due to ongoing investments in infrastructural development, increasing urbanization, and rising standards of living in these regions.

Browse?217 market data Tables and?33 Figures spread through?208 Pages and in-depth TOC on "Mirror Coatings Market by Resin Type (Polyurethane, Epoxy, Acrylic), Technology (Water-based, Solvent-based, & Nanotechnology-based coatings), Substrate (Silver, Aluminum), End-Use Industry, & Region - Global Forecast"

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The companies are majorly following mergers & acquisitions and Joint Venture & Partnership as the strategies to grow and expand the market. The key players following the strategies between 2016 to 2021 are FENZI Group (Italy), The Sherwin Williams Company (US), and Ferro Corporation (US). Following these strategies are helping the companies to strengthened their market position and increase their presence in emerging countries.

The FENZI Group?is the global leader in chemicals for the glass processing industry. The Group?was founded in Milan in 1941, where it still has its headquarters, and now has twelve factories in?strategic markets across the continents. The company has four business units, which target different segments, such as mirror backing paints, sealants for IG units, decorative paints, and coatings for solar mirrors. FENZI group provides its mirror coating products with brand Duralux and Luxver. Both offer a unique set of products to cover the entire mirror production cycle. The company has its presence in North America, South America, Europe, and APAC. The company has regularly made strategic decisions help its firm to grow. It has undertaken necessary partnerships and acquisitions to have a hold in the market and become a global leader.

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The Sherwin-Williams Company is a global leader in the development, manufacturing, distribution, and sale of paints, coatings, and related products to industrial, professional, retail customers, and commercial. The American Group, Consumer Brand Group, and Performance Coating Group are the business divisions of the firm among which American Group contributes maximum revenue with 57%. The Sherwin-Williams?Company has a strong focus on R&D and introducing cutting-edge products for its customers.

The company’s products are sold exclusively through a chain of more than 4,438 company-operated stores and facilities in the US, Canada, Latin America, and the Caribbean. It is providing a broad range of highly engineered solutions for the construction, industrial, packaging, and transportation markets in more than 120 countries around the world. Covering different industries and providing the best products according to the customer needs are making them one of the top players in the market.

Recent Developments in Mirror Coatings Market

• In August 2021, The Sherwin Williams Company has signed an agreement to acquire the European Industrial Coatings Business of Sika. This transaction will add to the profitable growth momentum of the company.
• In July 2020, Fenzi group has done partnership with Arsenal Capital Partners. This deal will provide additional capital to help accelerate the growth of the company. This transaction will enable the company to grow and expand by accelerating investment?in capacity, R&D capabilities, and talent, as well as strategic acquisitions.

Mirror Coatings market is projected to grow from USD 642 Million in 2021 to USD 829 Million by 2026, at a CAGR of 5.3% between 2021 and 2026. The demand and use of Mirror Coatings are rapidly increasing due to the growth in architectural, and solar power industries. The increasing urbanization, rising standards of living, and rising income levels is growing the Mirror coatings market. ?

APAC is the largest and fastest-growing mirror coatings market. It is projected to grow at the highest CAGR during the forecast period. The market is expected to witness significant growth in the architectural, automotive & transportation and solar power sectors in countries such as China, India, and South Korea. The growth of these industries is influencing the growth of the market. APAC is a strategic location for various transportation & automotive manufacturers to set up or expand their manufacturing bases and take advantage of the low manufacturing costs. The APAC market is considered for China, India, Japan, South Korea, Malaysia, Taiwan, Vietnam, and the Rest of APAC. The key markets in the region include China, India, South Korea, and Japan. India, China, and Indonesia are investing significantly in various end-use industries, which is expected to influence market growth.

The North American market for mirror coatings is witnessing moderate growth. Despite strong competition from manufacturers in emerging regions such as the APAC, North America remains one of the strategically important markets for key players. The major player operating in the North American mirror coatings market is Sherwin-Williams (US). The growth of the mirror coatings market in North America is driven by the increasing demand from the architectural, automotive & transportation, and other application segments. Players operating in this region have adopted various strategies to cater to the rising demand for mirror coatings. For instance, Vitro, S.A.B, a leading mirror manufacturer in Mexico, acquired the mirror business of PPG (US) in October 2016. PPG received ~USD 740 million and recorded a pre-tax gain on the sale of USD 421 million. Similarly, in 2016, Sherwin-Williams acquired Valspar (US) with an investment of USD 1.3 billion. As Valspar is one of the leaders in flat glass coatings globally, this acquisition helped Sherwin-Williams to increase its geographic presence and product portfolio of flat glass coatings. The Sherwin-Williams Company has also entered into an agreement to acquire the European industrial coatings business of Sika. This is expected to enable the profitable growth momentum of the company.

Continuous developments in the Mirror coatings market, including joint ventures & partnerships, and mergers & acquisitions, are expected to help the market grow. The companies are providing products which is serve various end-use industries. Joint ventures & partnerships have also helped companies enhance their product portfolio. Moreover, Mirror coatings market is expanding due to the increase in urbanization and increase in income level. The companies have also started new manufacturing sites to capture and fulfill the need of the market.