The Mirror Market size was USD 122.04 Billion in 2021 and is expected to register a revenue CAGR of 7.8% over the forecast period, according to a latest report by Reports and Data. Revenue growth of the market is expected to be driven by increasing demand for mirrors in interior design and decoration.
Mirrors enhance natural light and maximize the sense of space in a home and help in reducing energy costs. Therefore, a large number of architects and interior decorators prefers to put mirrors for interior design and wall decoration purpose. With the rising construction of buildings and houses, demand for mirrors are expected to accelerate revenue growth of the market. New innovations in interior decoration and designing are also expected to grow over the forecast period. According to the World Bank U.S., in 2020, the global construction industry was valued at USD 22.04 trillion. These instances of revenue growth of commercial and residential buildings in the construction mirror market play a pivotal role in driving demand.
Moreover, mirror types such as plane mirrors, spherical mirrors, convex mirrors, and crystal mirrors are widely adopted in various domestic and commercial decoration applications. A large number of developers and contractors are installing mirror panels in order to save energy costs. Also, mirrors are widely adopted as a key component in automotive rear-view functionality. Large number of automotive manufacturing companies are procuring mirrors in manufacturing cars and bikes. These factors are driving revenue growth of the market.
However, procuring low-cost mirrors from local glass and mirror manufacturers by several developers, interior decorators, and architects in order to reduce cost of projects along with war-related trade situations and production disruptions leading to fluctuations in import pricing of raw materials are expected to restraint revenue growth of the market.
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The research report offers details about leading companies in the global Mirror market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.
Some of the Leading Market Players Are Listed Below:
- Compagnie de Saint-Gobain S.A.,
- GTAT Corporation,
- Guardian Industries Holdings Site,
- Asahi Glass Co. Ltd.,
- Nippon Sheet Glass Co., Ltd.,
- Xinyi Glass Holdings Limited,
- Ferguson Enterprises,
- CSG Holding Co. Ltd.,
- Taiwan Glass Industry Corporation,
- China Glass Holdings Limited,
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The Global Mirror industries are also studied based on leading segments, and examines dominant product and application segments in detail. The report aims to help reader’s benefits from the growth prospects existing in the market in the global Mirror industries. It offers key information on drivers and restraints influencing the leading segments in the global Mirror industries.
By Product Type Outlook
- Plane mirror
- Spherical mirrors
- Convex mirror
- Crystal mirror
By Coating Type Outlook
- Soft coating
- Hard Coating
By End-use Channel Outlook
- Building and apartments
By Application Outlook
- Interior decoration
- Solar furnace
For comprehensive coverage, the report discusses growth prospects, opportunities, and challenges. The market report considers various key factors across the leading regions.
Mirror Market Segmentation based on Regions:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of Latin America)
- Middle East Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East Africa)
Key Features of the global Mirror Market:
- The report offers detailed estimations at the regional level with manufacturers, consumption, sales and import/export dynamics.
- The report provides accurate details related of the manufacturers/vendors in the market, company overview, pricing analysis, financial standing, product portfolio, and gross profit of leading companies.
- Company profiling with prevalent expansion strategies, revenue generation, and recent developments.
- Optimum strategic initiatives for new players in the market.
- Manufacturing processes, suppliers, cost, rates of production and consumption, transport mode and cost structuring, and value chain analysis.
- The study also includes supply chain trends, including elaborate descriptions of the latest technological development
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Key questions addressed in the Report:
- Which key players are operating in the global Mirror market?
- Which key factors are expected to hamper global market revenue growth?
- What market size is the global Mirror market expected to reach throughout the forecast period?
- Which application segment revenue is expected to expand at a rapid CAGR between 2023 and 2030?
- Which region is expected to account for robust revenue share throughout the forecast period?
- Which regional segment is expected to register fastest revenue CAGR throughout the forecast period?
- What revenue CGAR is the global Mirror market expected to register during the forecast period?
- What are the key outcomes of Porter’s Five Force analysis of the Mirror market?
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