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Mirror Coatings Market Growth Analysis, Demand

The global mirror coatings market was worth USD 671.1 million in 2020 and is further projected to reach USD 1,270.0 million by the year 2027, growing at a CAGR of 9.8% in the forecast period.

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Mirror Coatings Market Growth Analysis, Demand

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  1. Mirror Coatings Market, By Resin Type, Trend Analysis, Competitive Market Share & Forecast, 2020-2027

  2. Mirror Coatings Market - Industry Trends & Forecast Report 2027 A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global mirror coatings market was worth USD 671.1 million in the year 2020. The market is estimated to grow at a CAGR of 9.8%, earning revenue of around USD 1,270.0 million by the end of 2027. onstruction activities, flourishing automotive and transportation as well as rising demand for solar power. However, the growth is restrictive because of the high costs of mirror coatings as well as the high risk of degradation of the metals used for the coatings.

  3. Growth Drivers  Flourishing Building and Construction Sector The construction of various commercial and non-commercial buildings has significantly influenced the growth of the global mirror coatings market. Buildings nowadays are primarily using mirrors, due to which the demand for mirror coatings has surged. Governments, especially of emerging economies, are taking various initiatives to construct residential buildings, offices, hospitals, etc. Mirrors are added to the outside wall of the building to keep the inner surface and the interior environment of the building cool. It also gives an aesthetic look to the buildings.

  4. Restraints  High Exposure to Degradation A thin layer of metal is used to make mirrors highly reflective since metal is more conductive than glass. Silver, aluminum, copper, gold, beryllium, and other metals are commonly used for this purpose. However, these metals carry a high risk of degradation. Unless kept in a dry, contamination-free environment, silver loses its luster fast, usually within a month or two. Additionally, metals like aluminum and gold are highly stable. However, under high exposure, they become very sensitive. This kind of disadvantage may restrict the growth of the global mirror coatings market.

  5. Impact of COVID-19 in industry The sudden breakout of the COVID-19-induced pandemic halted the operations of almost all industries. The global coatings market too had to undergo disastrous effects because of the COVID-19. Because of a lockdown imposed by countries to curb the spread of the virus, the operations of major end-users in this market such as the construction, automotive, solar power, and transportation industry, were disrupted. As a result, the demand for mirror coatings declined significantly, affecting the business revenue of the market players negatively.

  6. Regional Insight Geographically, the global mirror coatings market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among all the regions, the Asia-Pacific region accounts for the largest market share in this market. The flourishing construction activities in developing countries like India, China, Japan, etc., are pulling the demand for mirror coatings. Furthermore, the presence of several industry players like Tianjin XinLihua Color Materials Co. Ltd, High Ding Industrial, etc. in this region further propels the growth of the mirror coatings market.

  7. Competitive landscape The leading market players of the global mirror coatings market are Tianjin XinLihua Color Materials Co. Ltd, Arkema Group, The Sherwin-Williams Company, CASIX, PearlNano LLC, Diamon-Fusion International Inc., North American Coating Laboratories, Dynasil Corporation, GUARDIAN GLASS, Edmund Optics Inc., General Optics (Asia) Limited, FENZI SpA, High Ding Industrial, Mader, GlasTrösch, Ferro, Vitro, S.A.B. De C.V., SunGaurd, Grincoat, and other prominent players. Sample copy :https://www.blueweaveconsulting.com/report/global-mirror-coatings-market/report-sample

  8. About Us: Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well-informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade-off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavors successful.

  9. Contact Us:  +1 866 658 6826 +1 425 320 4776 +44 1865 60 0662  info(@)blueweaveconsulting.com  www.blueweaveconsulting.com

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