The wall 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 wall mirrors in interior design and decoration.
Wall 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 wall mirrors for interior design and wall decoration purpose. With the rising construction of buildings and houses, demand for wall 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 wall mirror market play a pivotal role in driving demand. Moreover, wall mirror types such as plane wall mirrors, spherical wall mirrors, convex wall mirrors, and crystal wall mirrors are widely adopted in various domestic and commercial decoration applications. A large number of developers and contractors are installing wall mirror panels in order to save energy costs. Also, wall mirrors are widely adopted as a key component in automotive rear-view functionality. Large number of automotive manufacturing companies are procuring wall mirrors in manufacturing cars and bikes. These factors are driving revenue growth of the market.
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Key Players covered in this report are: 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, and Şişecam.
Some Key Highlights From the Report
- The plane wall mirror segment is accounted for a larger revenue share in 2021. Plane wall mirrors are the most common type of wall mirror. Reflective surface of a plane wall mirror is usually flat or planar, therefore visibility in this type of wall mirror is very high. These types of wall mirrors are highly adopted by homes, offices, restaurants, and in many other domestic and commercial applications, whereas spherical wall mirrors are highly adopted in home and interior decorations purposes. Convex wall mirrors are also known as curved wall mirrors and they are widely used in various parkings, buildings, and shops to ease the parking operations and avoid collisions between the vehicles.
- The smart interactive wall mirrors are becoming a key trend in growth and development of wall mirror market. Smart and interactive wall mirrors are creating a significant impact in modern day beauty and cosmeceuticals applications. A smart and interactive wall mirror comes with built-in camera, which helps in analyzing skin blemishes, dark spots, wrinkles, and clogged pores. Also, smart wall mirrors are increasingly used for virtual try on and augmented reality (AR) application. Smart and interactive wall mirrors have become a common requirement in fashion and retail store chains as well as beauty and cosmetics categories.
- Asia Pacific accounted for a larger revenue share in the wall mirror market in 2021. Rising demands in retail, building and apartments, automotive, and commercial complexes are driving revenue growth in the region. The retail industry is one of the emerging industries in Asia Pacific owing to rising population, income, and lifestyle. According to the World Bank, final consumption expenditure value in the Asia Pacific region was amounted to USD 16.92 trillion in 2020. These factors are elevating overall growth of the wall mirror market in the region. Moreover, rising growth of buildings and houses are also contributing growth in the wall mirror market. Moreover, Asia Pacific is one of the prime regions in automobile manufacturing hub due to presence of major industry players such as Toyota, Nissan, Honda, Hyundai, Suzuki, and many other manufacturers in the region. Wall mirror is a significant component in automobile, therefore a large number of automobile manufacturers are procuring wall mirrors, which is further fueling revenue growth in the region.
Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Plane wall mirror
- Spherical wall mirrors
- Convex wall mirror
- Crystal wall mirror
Coating Type Outlook (Revenue, USD Billion; 2019-2030)
- Soft coating
- Hard Coating
End-use Channel Outlook (Revenue, USD Billion; 2019-2030)
- Building and apartments
Application Outlook (Revenue, USD Billion; 2019-2030)
- Interior decoration
- Solar furnace
Key Regional Markets Covered in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, Spain, France, BENELUX, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Major Points covered in this report are as below:
- The Wall mirror industry development trends and marketing channels are analyzed. The feasibility of new investment projects are assessed and overall research conclusions offered.
- With the tables and figures, the report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
- Development policies and plans, manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand figures, cost, price, revenue and gross margins.
- The Wall mirror Market report provides key statistics on the market status of the Wall mirror manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
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