The mirror coatings market size is expected to reach USD 892.0 million by 2022, at a CAGR of 7.60% between 2017 and 2022. Mirror coatings are used to protect substrates, such as silver and aluminum from abrasion, chemical corrosion, scratching, water-repellent, rusting, and others. The market includes backing paints used in silver and aluminum mirrors. These coatings are used in architectural, automotive & transportation, decorative, solar power, and other applications.
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Acquisitions was the major strategy adopted by key players in the mirror coatings market from 2014 to 2017. This strategy helped companies operating in the mirror-coatings market enhance their product portfolios and expand their global presence. Key companies are also focused on entering new markets by launching technologically advanced eco-friendly mirror coatings for varied end-use industries. Some of the leading manufacturers of mirror coatings include Arkema (France), Fenzi (Italy), Ferro Corporation (US), Sherwin-Williams Company (US), Vitro Architectural Glass (Mexico), SunGuard (Guardian Glass) (US), Diamon-Fusion International (US), Pearl Nano (US), Mader (France), Tianjin Xin Lihua Color Materials (China), High Ding Industrial (Grincoat) (Taiwan), and Casix (China).
Sherwin-Williams Company is a key player in the mirror coatings market. The company offers mirror coatings under their Valspar Mirror Coatings and Solutions division. The company accounted for a share 70% of the total developmental activities that took place in the mirror coatings market between 2014 and 2017. As a part of its inorganic growth strategies, the company is focused on enhancing its presence globally. For instance, in 2016, Sherwin-Williams acquired Valspar Corporation (US) with an investment of USD 1.3 billion. The acquisition of Valspar increased Sherwin-Williams’ geographical reach and revenue in the mirror coatings market.
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Another key player that has established a strong foothold in the mirror coatings market is Vitro Architectural Glass. This company concentrates on expanding its customer base through acquisitions. For instance, in October 2016, it successfully acquired the glass coatings business from PPG (US). PPG received approximately USD 740 million in cash proceeds and recorded a pre-tax gain of USD 421 million. The acquired business includes PPG’s entire mirror coatings manufacturing and glass coatings operations in the US and Canada, which includes four manufacturing plants with a total of five mirror coatings furnaces, a research and development center, and four distribution and fabrication facilities in Canada. This strategy has strengthened the Vitro mirror coatings business in the North American region.
