Asia-Pacific held the largest market share in 2021 and is expected to maintain its dominance, with the fastest growth rate projected for the same region.
WILMINGTON, DELAWARE, UNITED STATES, March 19, 2024 /EINPresswire.com/ — The global flat glass coating market witnessed significant growth in 2021, generating $1.9 billion in revenue. According to Allied Market Research, it is projected to reach $11.0 billion by 2031, with a remarkable CAGR of 20.3% from 2022 to 2031. This growth trajectory is attributed to various factors such as the increase in the standard of living, growing demand for day-to-day conveniences, rapid urbanization, and the rise in green commercial building construction projects.
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However, the market faced challenges during the COVID-19 pandemic. Lockdowns imposed across the globe led to the closure of manufacturing facilities, impacting the demand for flat glass coatings. Additionally, the financial crisis following the pandemic made consumers hesitant to invest in expensive items like flat glass coatings. Despite these setbacks, the market is expected to recover soon.
The market report provides detailed insights into segmentation based on resin type, technology, application, and region. Water-based coatings held the largest market share in 2021, with nano coatings projected to witness the fastest growth rate during the forecast period. Mirror coatings dominated the application segment, while acrylic coatings led the resin type segment.
Regionally, Asia-Pacific held the largest market share in 2021 and is expected to maintain its dominance, with the fastest growth rate projected for the same region. Key players in the market include Ferro Corporation, Nippon Paints Holdings Co. Ltd, 3M Company, PPG Industries Inc., and others, who have employed strategies like joint ventures, expansions, and new product launches to strengthen their market position.
In summary, the global flat glass coating market offers lucrative opportunities for stakeholders, with evolving trends, technological advancements, and strategic initiatives shaping its landscape. Interested parties can leverage this comprehensive report to devise effective strategies and capitalize on market growth prospects.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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