The global mirror coatings market size is predicted to reach USD 1.10 billion by 2028 and exhibit a CAGR of 7.2% during the forecast period. Fortune Business InsightsTM has presented this information in its report titled, “Mirror Coatings Market, 2021-2028”. The demand for the use of mirror coatings is rapidly increasing due to the growth of the automotive & transportation, architectural, decorative mirrors, and solar power industries. Increased demand from the construction industry and rising uses in the solar power industry are propelling the market forward. The market for these coatings is expected to grow over the projected period because of increased demand from water and wastewater treatment plants. The market size stood at USD 0.63 billion in 2020 and USD 0.67 billion in 2021.

Segmentation-

On the basis of resin type, the market is divided into epoxy, polyurethane, acrylic, and others. On the basis of formulation technology, the market is segmented into solvent-based, water-based, and others. On the basis of the end-use industry, the market is fragmented into solar power, architecture, decorative, automotive & transportation, and others. Geographically, the market is classified into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. 

Report Coverage-

The market study examines the industry in-depth, focusing on critical elements such as the industry's leading competitive landscape, products, and products. It also provides market trends and highlights important industry developments. The study includes different variables that have contributed to the market's growth in recent years, in addition to the factors listed above. It examines the industry's newest market dynamics and opportunities, as well as historical data and revenue growth estimates at the global, regional, and country levels.

Drivers & Restraints-

Market Growth Will Be Driven By Rising Construction Sector Demand

Over the last few decades, the building industry has grown rapidly in many parts of the world. Glass architecture has become a symbol of advancement in many countries, with people seeing these structures as symbols of luxury and riches. Mirror-coated glass is rapidly being used in the construction sector as an insulation material, structural component, external glazing material, and cladding material, among other things, in addition to being used as a decorative element. Mirror coatings reflect light well while also protecting coated surfaces from chemical and abrasion degradation. By retaining the color, durability, and texture of architectural structures, these coatings lower maintenance costs and extend the life of the coated surface.

During the projected period, the worldwide construction sector is expected to grow substantially, notably in Asia Pacific's growing countries. India, China, and other Southeast Asian countries are likely to invest heavily and experience considerable infrastructure changes. These coatings can be engineered to reflect selective radiation at a certain wavelength, allowing for significant cost savings in HVAC operations. Rising environmental concerns are expected to lead to an increase in innovative materials like these coatings being used in new residential and commercial construction. More building materials coated with these coatings, notably glass, are projected to be used more frequently during construction activities as a result of the adoption of green technology in construction will aid in the mirror coatings market growth.

Regulatory bodies are expected to impose more strict requirements as environmental concerns about the harmful impacts of volatile organic compounds (VOCs) produced from items such as mirror coatings.

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https://www.fortunebusinessinsights.com/mirror-coatings-market-104226