Functional Glass Coating Market Size, Share, Growth, and Industry Analysis, By Type (Pyrolytic Coating, Sputtered Coating, Screen Coating, Spray Coating, And Others), By Application (Automotive Glass, Architecture, Appliance, Container Packaging, And Others) Regional Forecast By 2031

Updated On: 22 April 2024

Functional Glass Coating Market Report Overview

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The global functional glass coatings market size was USD 1660.6 million at the start of 2020 and is estimated to touch USD 3717.54 million by 2031, demonstrating a CAGR of 7.5% throughout the given course of time.

The comprehensive market for glass coating has experienced a great change over a forecast period with transforming roles from shielding and enhancing a glass substratum to the recent trend given the name of functional glass coating. The need for glass in various fields like medicinal, automotive, infrastructures, architecture, and consumer goods accompanied by a leap in the conduction demand of glass substratum to fulfill the needed effects of various fields has given a hike to the need for product. This made the escalation of the market. Functional coating of glass increases its protection properties and gives various characteristics for instance resistance to scratch, prevention of chemicals, adherence, drenching properties, gloss, and bacterial resistance characteristics to glass substratum.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

COVID-19 obstructed the economy globally, leading to a stern shutout of markets and a cessation of daily workings in majority of the industries. There were several restrictions put by the governments, leading to a negative impact on the manufacturers. This made the drop in the market an outcome, there was an unswerving and swerving impact on the manufacturers and the different sectors of industry. After the end of COVID-19, the market revived, we are noticing retrieval of the industry since innovated production and funding into R&D affairs to evolve improved machinery and technologies to fulfill further needs, that will lead to enhancement in the functional glass coating share in a given course of time.

LATEST TRENDS

"Increasing Automotive, Architectural, and Electronic Industries Lead to the Growth of the Functional Glass Coating Market"

The requirement for glass in various industries in recent times has increased so are the functional coating of those glasses. The increasing need for energy reserving and green manufacturing terminology has made a sufficient chance for the global market to innovate and evolve new products so that enhanced architectural glass production for energy saving. In the automotive industry, pyrolytic coating is anticipated to ascendancy in the market during the course of time, because of its consistent workings and low cost.

Functional Glass Coating Market Segmentation

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By Type

Based on type the functional glass coating market is classified as pyrolytic coating, sputtered coating, screen coating, spray coating, and others.

By Application

Based on application the functional glass coating market is classified as Automotive Glass, Architecture, Appliance, Container Packaging, and Others.

DRIVING FACTORS

"The enhancement of the architectural industry boosts the Market Growth "

The main driving factor is the enhancement of architecture. Growing buildings and activities related to infrastructure and escalation in global funding for real estate and building of bigger structures with growing consumption of glasses for trending and decorative appearance is the biggest factor that is driving the growth of the industry related to infrastructure.

"Extensive Application in Automobile Production Hikes Market Growth"

The continuous growth of automobile production works as a catalyst for the growth of the functional glass coating market. At present, the global manufacturing of automobiles is at its top in all four regions making steps in more and more automobile production. Asia Pacific and middle east regions will enhance the market of automobiles in the upcoming 5 years. It will be necessary for Functional glass coating manufacturers should align themselves in these regions for their growth. The functional glass coating shares should also realign with the nations that are shifting from developing nations to developed nations since they are large manufacturers of automobiles.

"Growing demand of energy saving concepts boosts the Market Growth"

The changing market dynamics such as shifting towards energy-efficient goods and technologies have given space to the functional glass coating growth. There are various initiatives regarding the environment regulated by several authorities, enhancing applications of glass coating, increasing glass penetration, and enhancement in the material and manufacturing process of functional glass coating are amplifying the growth for existing as well as for fresher’s in the market.

RESTRAINING FACTORS

"Several Challenges Associated with the Local Irritation to Restrain the Market"

Functional glass coat is made up of Silicon dioxide (SiO2). Consumers and manufacturers are exposed to them more frequently leading to several health issues. Therefore, it's critical to limit occupational exposure and thus restrain the market growth.

"Technology barrier leads to Restrain the Market"

At present, because of the barrier of technology, its became hard for new entrants to occupy space in the manufacturing of functional glass coating. The market is mainly supervised by only a few organizations such as Fenzi, Ferro, Johnson Matthey, and BASF.

Functional Glass Coating Market Regional Insights

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"Asia-Pacific region is expected to dominate the functional glass coatings market"

The Asia-pacific region has the biggest automotive market that acts as a catalyst for the functional glass coating industry making the region the largest market for functional glass coating. The market is realigned with the architectural industry as well also leading to its growth in the region.  Asia Pacific has several countries that are shifting towards developed nations from developing nations and the need for growing infrastructure plays an important role in the enhancement of functional glass coating share.

"Developed economies to have more share"

Several advanced nations in US and Europe are about to have further share in forthcoming times. These nations are tightening their architecture that is of advanced level and needs more glasses.  Functional glass coating share will be increased in the next 5 years in these regions.

KEY INDUSTRY PLAYERS

"Economic Players to Contribute Towards Expansion of Market"

The market of functional glass coating includes many regional players as well as national players. Major players are involved in strategizing various plans such as acquisitions, partnerships, the creation of new and enhanced products, along with joint ventures. The study is the research of an index of market players that works towards the expansion of the market. The information includes the latest technological developments, trends, production lines mergers and acquisitions, market studies, and others. Other factors such as regional and nation wise analysis and segment wise analysis are also considered to understand the market share, product growth, revenue growth, and others during the forecasted period.

List of Market Players Profiled

• Ferro (U.S)
• Arkema (France)
• Fenzi (Italy)
• AGC (Japan)
• BASF (U.S)
• KISHO (Japan)
• Vitro (Mexico)
• Schott (Germany)
• ICA (U.S)
• Johnson Matthey (England)
• HONY (China)
• DECO GLAS (China)
• FEW Chemicals (Germany)
• ICD (U.S)
• Premium Coatings (India)
• UVCHEM (China)

REPORT COVERAGE

The analysis through SWOT and data based on future developments are covered in the report. The research study consists of a report on many factors that enhance the growth of the market. This study also includes the range of many market types and applications that could affect the market in the upcoming times. The specifics are based on present trends and past turning points. The state of the market's parts and its growth areas over the following years. The report discusses market segmentation information, consisting subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the study shows data on national and regional areas that take into account the forces of supply and need that are enhancing market growth.