Functional Glass Coatings Market | Industry Analysis 2019-2024
This report, from Stratview Research, studies the functional glass coatings market over the trend period of 2013 to 2018 and forecast period of 2019 to 2024. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The Functional Glass Coatings Market: Highlights
The functional glass coatings market is forecasted to grow at an impressive rate over the next five years to reach an estimated value of US$ 2,137.0 million in 2024. The overall coatings market for glass applications has undergone a remarkable transition over a period of time with changing roles from protecting and decorating a glass substrate to the new role, termed as functional glass coating. Increasing applications of glasses in various sectors including architecture, automotive, food & beverage, consumer goods, and pharmaceuticals, along with a surge in the performance requirement of glass substrates to meet the requisite properties of different applications have given the rise to the demand for functional glass coatings. Functional coating enhances or modifies the properties of the glass substrate and offers several crucial properties, such as adhesion, wettability, chemical resistance, wear resistance, scratch resistance, gloss, hydrophobicity, self-cleaning, anti-static, anti-reflective, and anti-bacterial properties, to the glass substrate.
The performance of the functional glass coatings market is highly dependent on the glass industry, whose growth is aligned with the growth of the architectural industry, automotive industry, and the electricals & electronics industry. In a particular industry, glass products are used for different applications with the purpose to address a different set of requirements. For instance, the architectural applications require flat glasses for windows and facades that should be energy-efficient, whereas the automotive industry requires flat glasses that should be highly resistant to ultraviolet and infrared radiations. Growing construction, automotive, and electricals & electronics industries in the emerging countries are intensifying the demand for advanced and smart glass products and so are functional coatings.
There are a host of factors burgeoning the demand for functional glass coatings in a diverse range of applications. Among all, the biggest driving factor is the organic growth of the architectural industry. Increasing building and infrastructure activities and the surge in global investments for the construction of taller buildings with increasing usage of glass for aesthetic appearance are the major factors driving the growth of functional glass coatings in the architectural industry. Rising demand for energy savings and green building concept has created ample opportunities for the functional glass coating manufacturers to develop and innovate functional glass coatings in order to produce highly efficient architectural glass for the industry.
Another factor, which is acting as a catalyst to the growth of functional glass coatings, is consistently increasing automobile production. Currently, global automobile production has been at its peak with all four regions marking overall positive developments in the production of automobiles. China, India, Southeast Asia, and North Africa will fuel the growth of the automotive industry in the coming five years. It is very important for the functional glass coating manufacturers to realign themselves based on the shifting opportunities from the developed economies to the developing economies, such as China and India.
In addition to that, the rapidly changing market dynamics, such as increasing demand for energy-efficient buildings owing to several environmental initiatives by regulating authorities, such as, LEED, RoHS, and REACH standards; growing penetration of glass in a wide array of applications; increasing functionality of coatings in a glass; and advancements in functional glass coating materials and manufacturing processes are further substantiating the growth opportunities for new entrants as well as for the existing players in the functional glass coatings market.
The functional glass coatings market is segmented based on the end-user type as Architectural Glass, Automotive Glass, Display Panel Glass, Container Glass, and Others. Architectural glass is expected to remain the growth engine of the functional glass coatings market during the forecast period of 2019 to 2024. Increasing building and infrastructure activities in the developing economies coupled with increasing glass content in the building and infrastructure are the key factor, propelling the demand for functional coatings in the segment. Automotive glass, another segment with a considerable share, is likely to witness healthy growth rate over the next five years.
Based on the application technique type, the functional glass coatings market is segmented into Pyrolytic Coating, Sputtered Coating, Screen Printing, Spray Coating, Sol-Gel Coating, and Others. The pyrolytic coating is expected to maintain its dominance in the market during the forecast period, driven by its low-cost advantage and consistent performance. Pyrolytic coating and sputtered coatings are the two main technologies for applying Low-E coatings on a glass substrate.
Based on the coating type, the functional glass coatings market is segmented into Low-e Coatings and Specialty Coatings. The specialty coatings segment dominated the functional glass coatings market in 2018. Specialty coatings include various coating solutions, such as self-cleaning, anti-reflective, anti-microbial, anti-UV, anti-smudge, anti-fog, and transparent conductive coatings.
Based on the regions, Asia-Pacific is expected to remain the largest functional glass coatings market during the forecast period. China, India, and Southeast Asia are the growth engines of the Asia-Pacific’s functional glass coatings market in the foreseeable future. North America and Europe are also likely to exhibit positive growths during the same period, driven by a high production of vehicles and growing demand for the energy-efficient buildings.
The supply chain of this market comprises raw material suppliers, functional glass coatings manufacturers, glass manufacturers, distributors, and automotive OEMs. The key functional glass coating manufacturers are Asahi Glass Co., Ltd (AGC), Apogee Enterprises, Inc., Arkema, Ferro Corporation, Guardian Industries, ICD High Performance Coatings, Johnson Matthey, Nippon Sheet Glass Co., Ltd. (NSG), Saint-Gobain S.A., and Vitro, S.A.B. de C.V. The development of high-performance functional glass coatings, expansion in untapped and growing markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 500 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. About 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts have been executed to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The Functional Glass Coatings Market is segmented into the following categories.
Functional Glass Coatings Market by End-User Type:
Functional Glass Coatings Market, By Application Technique Type
Functional Glass Coatings Market, By Coating Type
Functional Glass Coatings Market, By Region
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