Global Top Mirror Coatings Market Industry Leaders

(EstateNewsWire.com, October 31, 2021 ) The mirror coatings market size is expected to reach USD 892.0 millionby 2022, at a CAGR of 7.60% between 2017 and 2022.Mirrorcoatings are used to protect substrates, such as silver and aluminum fromabrasion, chemical corrosion, scratching, water-repellent, rusting, and others.The market includes backing paints used in silver and aluminum mirrors. These coatingsare usedinarchitectural, automotive &transportation, decorative, solarpower, and other applications.

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Acquisitionswasthe major strategyadopted by key players in the mirror coatingsmarketfrom 2014 to 2017.This strategyhelped companies operating in the mirror-coatingsmarket enhance their product portfolios andexpand their global presence. Key companies are also focused on entering new markets by launching technologically advanced eco-friendlymirrorcoatingsfor varied end-use industries. Some of the leading manufacturersof mirrorcoatingsincludeArkema (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 Companyis a key player in the mirrorcoatingsmarket. The company offersmirrorcoatingsunder their Valspar Mirror Coatings and Solutionsdivision. The company accounted for ashare 70% of the totaldevelopmental activities that took place in the mirrorcoatingsmarket between 2014 and 2017. As a part of itsinorganic growth strategies, the companyis focusedon 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 increasedSherwin-Williams' geographical reach and revenue in the mirrorcoatings market.

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Another key player that has established a strong foothold in themirrorcoatingsmarketis Vitro Architectural Glass. Thiscompany 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 ofUSD 421 million. The acquired business includes PPG’sentire mirrorcoatings manufacturing and glass coatings operations in the US and Canada, which includes four manufacturing plants with a total of five mirrorcoatings furnaces, a research and development center, and four distribution and fabrication facilities in Canada.This strategy has strengthened the Vitro mirrorcoatings business in the North American region.

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