The development prospects of the mirror industry

1. Overview of the mirror industry

Mirrors, which have a smooth surface and reflect light, have become an indispensable part of people's lives since ancient times, when polished bronze was used as mirrors. It is divided into two categories: plane mirror and curved mirror, flat mirror is often used to organize appearance, while curved mirror includes concave mirror, convex mirror, widely used in clothing mirror, furniture accessories, architectural decoration, optical instruments and automotive rearview mirrors and other fields. Mirrors not only have practical value, but also play an important role in the field of science, such as telescopes, lasers, industrial equipment and other instruments.

2. Mirror industry classification and industrial chain

There are many types of mirrors and they are very versatile. The upstream of its industrial chain covers raw materials such as wood, plastics, glass, metal and processing machinery; The midstream is the manufacturing link of the mirror; The downstream is used in many fields such as automobiles, optical instruments, and furniture. Among them, flat glass is the main raw material of the mirror industry, and its output and quality are very important to the development of the mirror industry. In recent years, the output of flat glass in China has grown steadily, providing a solid raw material foundation for the mirror industry.

Third, the development status of the mirror industry

As a glass body, the mirror is fragile and has high requirements for aesthetics. As a rigid necessity in daily life, mirrors are both durable goods and fast-moving consumer goods, and they are irreplaceable, which makes the market size of the mirror industry rise year by year. According to QYResearch, the market size of China's mirror industry has increased from 17.941 billion yuan in 2015 to 33.013 billion yuan in 2023, with a compound annual growth rate of 7.92%. Among them, the market size of vehicle mirrors accounts for more than 60%, mainly due to its high cost, high price and diversified demand. In addition, China's mirror production continues to grow, not only to meet domestic demand, but also to export a large number of overseas markets.

Fourth, the mirror industry enterprise pattern and key enterprises

As the world's largest mirror production base, China has thousands of enterprises, but there are few enterprises above designated size, and many small and medium-sized enterprises lead to problems such as product homogeneity and structural imbalance. At present, the main brands in the market include Follett, AC Yinjing, Moen MOEN, etc. Among them, as the world's leading photovoltaic glass manufacturer, Follett integrates R&D, manufacturing, processing and sales, forming a complete industrial chain, and its operating income continues to grow, making important contributions to the development of the mirror industry. In addition, Zhejiang Risheng Sanitary Ware Co., Ltd. and other enterprises have also made remarkable achievements in the field of bathroom mirrors.

Fifth, the development trend of the mirror industry

Technological innovation leads the future: With the progress of science and technology, the mirror industry is ushering in a storm of technological innovation. For example, smart mirrors can integrate AI technology to achieve facial recognition, emotion analysis and other functions to provide users with personalized beauty advice or health data. The application of IoT technology will enable mirrors to be seamlessly connected with other smart home devices to form a complete smart home ecosystem.

Market Expansion: The market expansion of the mirror industry will show a trend of diversification and globalization. On the one hand, with the improvement of consumers' requirements for home decoration and quality of life, the mirror market will continue to expand to more fields; On the other hand, with the development of globalization and e-commerce, the mirror industry will actively explore the international market and realize the internationalization process of products.

Intensified brand competition: Driven by technological innovation and market expansion, brand competition in the mirror industry will become more intense. Mirror companies need to pay attention to brand building, improve product quality and service levels, and attract consumers' attention and trust with unique brand positioning and marketing strategies. At the same time, strengthen cooperation and linkage with other industries to jointly promote the sustainable development and innovation of the mirror industry.