As cited by the research report titled ‘Global Mirror Coatings Market Size study, by Type (Polyurethane Resin, Epoxy Resin, Acrylic Resin, Others), by Technology (Water-Based Coatings, Solvent-Based Coatings, Nanotechnology-Based Coatings), by Substrate (Silver-Based Coatings, Aluminum-Based Coatings, Other), by End-Use Industry (Architectural, Automotive & Transportation, Decorative, Solar power, Others) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global mirror coatings market is projected to expand at 5.3% CAGR and garner significant returns over 2021-2027.
 

Rising focus on using concentrated solar power coupled with increasing product demand in the construction & automotive industries are majorly driving the global mirror coatings market growth. Growing demand for low-VOC, green, and sustainable mirror coatings is further generating lucrative opportunities for the market development.
 

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For the record, mirror coatings are applied to lenses by vacuum application of interference layers, that are comprised of metals, powdered oxides, lacquered plastics, or other available compounds. These coatings are made of constructive interference layers that interfere with the light passing through lenses by reflecting light.
 

Moreover, industry players across the world are implementing various strategies, thus favoring the market outlook.  In 2021, the Sherwin Williams Company entered an agreement to acquire Sika AG’s European industrial coatings business, boosting the profits of the company.
 

On the downside, disadvantages of water-based coatings are likely to impede the industry progression over the projected timeline.
 

Based on type, global mirror coatings industry is segmented into polyurethane resin, acrylic resin, epoxy resin, and others. Considering the technology ambit, the marketplace is divided into solvent-based coatings, water-based coatings, and nanotechnology-based coatings.
 

On the basis of substrate, the business space is bifurcated into aluminum-based coatings, silver-based coatings, and others. Speaking of the end user range, the industry is categorized into architectural, decorative, automotive & transportation, solar power, and others.
 

The geographical analysis of the industry includes regions like Asia Pacific, Europe, North America, and Latin America. Asia Pacific is reckoned to be a lucrative growth avenue for the industry participants over the assessment period 2021-2027, on account of rising number of end use industries, low-cost labor, favorable government initiatives, along with growing demand for sustainable transportation, construction, & power.
 

Major players profiled in worldwide mirror coatings industry are Dynasil Corporation of America, Grincoat Company Ltd., Newport Thin Film Laboratory (NTFL), General Optics (Asia) Limited, Glas Trösch Holding AG, Ferro Corporation, CASIX Inc., Sherwin-Williams Company, Tianjin Xin Lihua Color Materials Co. Ltd., and Fenzi Group S.p.A.