Global Nanocoatings Market: Overview
Nanocoatings involve coating surfaces with a layer of protective material, generally of <100nm, on a substrate to improve the latter’s physical properties or add new functional properties. Nano-coated materials exhibit features such as toughness, wear resistance, optical transparency, and high hardness. This makes it suitable for use in a number of end-use industries such as electronics, automotive and healthcare.
As per Transparency Market Research, from 2018 to 2026, stellar compound annual growth rate would be noted in the global nanocoatings market. This will be mainly a result of high growth in a number of these industries. The growth rate would manifest itself in outcomes such as high market worth and increase in number of opportunities available to players. Proactive players in the market will leave no stone unturned to tap into emerging growth opportunities.
Factors that would mark the market landscape, keeping it buoyant over the forecast period are:
- Construction volumes in general and residential construction volumes in particular are increasing and this is set to drive the global nanocoatings market on an upward growth trajectory. By 2030, studies reveal that about 85% increase will be noted in these volumes. And, it is quite interesting to note here that India, China, and the United States of America would be at the forefront of this growth, accounting for about 57% of increase.
- Population growth is another notable growth propeller in the global nanocoatings market. The global population will reach the 2 billion higher mark of 9.7 billion from current level by 2050. These will demand for additional houses, commercial spaces, and recreational centers. Besides, demand for automotives and consumer electronics will also take an upward demand curve. This will lead to a notable growth in the global nanocoatings market, particularly over the forecast period states above.
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Nanocoatings Market – Snapshot
Nanocoating is the process of depositing a thin layer of coating material, generally of <100nm, on a substrate to improve the latter’s properties or add new functional properties. Nano-coated materials exhibit features such as toughness, wear resistance, optical transparency, and high hardness. Nanostructured coatings provide various key advantages such as protection from ice, pollutants, UV rays, fire, heat, bacteria, marine life, and corrosion. These performance benefits offered by nanocoatings compared to other coating systems are anticipated to boost the nanocoatings market.
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Nanocoatings cater to a wide range of end-user industries such as health care, automotive, aerospace, energy, marine, and food & packaging. Expansion in end-user industries is expected to propel the market in the near future. However, emission of VOCs during the use of nanocoatings is anticipated to hamper the market. Volatility in prices of raw materials is also estimated to negatively impact the nanocoatings market. Nevertheless, technological advancements and significant investments in end-user industries in emerging economies offer lucrative opportunities to the nanocoatings market.
The nanocoatings market has been segmented based on type, end-user, and region. Based on type, the market has been classified into anti-fingerprint, anti-microbial, anti-corrosion, abrasion & wear resistant, anti-fouling/easy-to-clean, self-cleaning (bionic), self-cleaning (photocatalytic), UV-resistant, anti-icing, thermal barrier & flame retardant, and conductive. In terms of value, self-cleaning (photocatalytic) was the major segment of the nanocoatings market in 2017, owing to its wide usage in electronic and medical devices. Based on end-user, the global nanocoatings market has been divided into health care, aerospace, automotive, textiles, construction, electronics, food & packaging, energy, marine, and others (including household, water treatment, and tools & engineering). The health care segment is estimated to expand at a faster pace than other segments, as various types of nanocoatings such as anti-microbial, easy-to-clean and self-cleaning are applied on medical devices.
In terms of region, the global nanocoatings market has been segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for prominent share of the global nanocoatings market in 2017. It was followed by Europe, Asia Pacific, Middle East & Africa, and Latin America. However, Asia Pacific is projected to be a rapidly growing region of the market during the forecast period. Europe is likely to constitute significant share of the market during the forecast period.
High degree of competition exists among players operating in the global nanocoatings market. Dominated by large players, the market is moderately consolidated. Key players account for major share of the market. Prominent players profiled in the report are Bio-Gate AG, Buhler PARTEC GmbH, Cima NanoTech Inc., Eikos Inc., Inframat Corporation, Integran Technologies Inc., Nanofilm Ltd., Nanogate AG, Nanophase Technologies Corporation, and Nanovere Technologies LLC.
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