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Functional Glass Coatings Market to Reach US$ 374.6 million in 2023

 


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Functional Glass Coatings Market for the Automotive Industry: Highlights The global 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. Functional Glass Coatings Market for the Automotive Industry by Vehicle Type: 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. Functional Glass Coatings Market for the Automotive Industry by Application Type: 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.

Functional Glass Coatings Market for the Automotive Industry Market by Material Type: 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. Functional Glass Coatings Market for the Automotive Industry Market by Glass Type: 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. Functional Glass Coatings Market for the Automotive Industry Market : Key Players and Strategies 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 link : https://www.stratviewresearch.com/314/Functional-Coatings-Market-Automotive-Glass.html.

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