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Functional Glass Coatings market is likely to reach US$ 374.6 million in 2023

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Functional Glass Coatings Market research report is a study offering rich insights on market forecasts, latest market trends, market competition, and opportunity analysis.

Stratview Research announces the launch of a new research report on Functional Glass Coatings Market. This extensive report from Stratview Research, studies the Functional Glass Coatings Market  over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

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This Functional Glass Coatings Market analysis has been segmented in Seven ways, keeping in mind the interest of all the stakeholders across the value chain.

  • by Vehicle Type (Passenger Car, LCV, and Others M&HCV) – Passenger car is expected to remain the growth engine
  • by Application Type (Windshield, Sidelite, Backlite, and Sunroof) – Sunroof is expected to be the highest-growing segment
  • By Material Type (Black Glass Enamel and Glass-Ceramic Enamel and Conductive Silver Paste)- Black glass enamel is a traditional functional coating material and is expected to remain the largest segment
  • By Glass Type (Laminated Glass,and Tempered Glass) – Laminated glass is also known as laminated safety glass
  • By Process Type (IR Drying, and UV Curing)
  • By Media Type (Oil-based, and Water-based)
  • and by Region (North America, Europe, Asia-Pacific, and RoW) – Asia-Pacific is expected to remain the largest functional glass coatings market

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Functional glass coatings market Insights

The functional glass coatings market for the automotive industry is projected to reach an estimated value of US$ 374.6 million in 2023. Over the next five years, growth prospects of the functional glass coatings market for the automotive industry seem promising with a plethora of opportunities across regions for both existing as well as new players. Development of more innovative solutions is an indispensable focus area for the industry players manufacturing functional coatings, due to the changing customer needs with evolving trends, rapid transformation in vehicle design and technologies, and intense market competition.

There are a host of factors burgeoning the demand for functional coatings for automotive glass applications. The biggest driving factor among all is organic growth of automobile production. Currently, the global automobile production has been at its peak with all four regions marking overall positive developments in the production of automobiles. China, India, Southeast Asia, and North Africa will fuel the growth of the automotive industry in the coming five years. It is very important for the functional coating manufacturers to realign themselves based on the shifting opportunities from the developed economies to the developing economies including China and India.  

Another trend happening in the industry is an increased demand for autonomous vehicles and green vehicles. All the major automakers are putting efforts for the development of electric/hybrid vehicles as well as autonomous vehicles in order to quickly gain market share in the industry. This trend is leaving a multi-edged impact on the functional coatings market as the industry is demanding greener functional coating materials to make vehicles more environmentally friendly as well as a shifting paradigm of the industry with a focus on the development of robust coatings for thinner glass.

In addition to that, the rapidly changing automotive industry dynamics, such as more glass surface area per vehicle, more complex glass shapes to make vehicle more aerodynamic, increasing production rates of glass manufacturing in order to achieve economies of scale, and the development of thinner and stronger glass in order to make vehicle lighter in weight are also imprinting a great impact on the demand for functional coatings. There is greater demand for functional coatings that can offer excellent UV resistance, heat resistance, more privacy to passengers, and higher strength.

The global functional glass coatings market for the automotive industry is segmented based on vehicle type as Passenger Car, LCV, and M&HCV. Passenger car is expected to remain the growth engine of the global functional glass coatings market during the forecast period of 2018 to 2023. Increasing demand for SUVs and hatchbacks in the developing economies as well as in the highly congested cities of the developed economies is the key factor, propelling the demand for functional coatings in passenger cars.

Based on the application type, the functional glass coatings market for the automotive industry is segmented as Windshield, Sidelite, Backlite, and Sunroof. Sunroof is expected to be the highest-growing segment in the functional glass coatings market for the automotive industry during the forecast period of 2018 to 2023, owing to an increasing size of sunroofs to cover the entire rooftop of the vehicle. This, in turn, demands more functional coatings per vehicle.

Based on the material type, the functional glass coatings market for the automotive industry is segmented as Black Glass Enamels, Glass-Ceramic Enamels, and Conductive Silver Paste. Black glass enamel is a traditional functional coating material and is expected to remain the largest segment of the global functional glass coatings market for the automotive industry during the forecast period.

Based on the glass type, the functional glass coatings market for the automotive industry is segmented into Laminated Glass and Tempered Glass. Laminated glass is also known as laminated safety glass as it provides safety to the driver and passengers during an incident of a vehicle. Different automotive glasses such as windshield, sidelite, backlite, and sunroof are made by using laminated glass or tempered glass.

Based on the region, Asia-Pacific is expected to remain the largest functional glass coatings market for the automotive industry during the forecast period. China, India, and Southeast Asia are the growth engines of the Asia-Pacific’s functional glass coatings market in the foreseeable future. It is more likely that the region will take more share of the developed economies including the USA and in Europe in the coming years. North America and Europe are also likely to signpost positive growths during the same period, driven by passenger car and LCV segments.  

The supply chain of this market comprises raw material suppliers, functional coatings manufacturers, automotive glass manufacturers, distributors, and automotive OEMs. The key functional coating manufacturers are Ferro Corporation, ICD High Performance Coatings, Johnson Matthey Plc, Shenzhen Octopus Technology Co., Ltd, and SHINCERAMIC Co., Ltd. Development of high-performance functional coatings, expansion in untapped and growing markets, and execution of mergers & acquisitions strategy are the key strategies adopted by the major players to gain a competitive edge in the market.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
  • Market trend and forecast analysis
  • Market segment trend and forecast
  • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
  • Attractive market segments and associated growth opportunities
  • Emerging trends
  • Strategic growth opportunities for the existing and new players
  • Key success factors

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