The nanocoatings market is gaining traction due to the superflux demand for advanced materials in medical and automotive industry. Nanocoatings are developed by using nano technology and possess properties such as ductility, hardness, abrasion resistance, lubricity, and transparency. They are better as compared to conventional coatings due to superior properties and prolonged life span. They are used in end-use industries such as healthcare, automotive, electronics, and others. The aforementioned factors lead the projection that the nanocoatings market will observe substantial growth during the forecast period of 2018–2026.
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Increase in Urbanization to Serve as Growth Booster for Nanocoatings Market
Rapid urbanization has led to a voluminous growth of construction sector due to high demand for buildings in residential and non-residential sectors. A high growth of construction industries is predicted due to migration of rural crowd and industrialization. The population across the globe is growing rapidly. Therefore, there is a constant demand for construction activities. In addition the demand for automotive and consumer electronics also has taken an upward rise. All these factors have resulted in high demand for nanocoatings in construction sector. The rapid growth has resulted in offering lucrative market opportunities for the players. Thus, the scope for the growth of the nanocoatings market has increased substantially. Recent market studies by Transparency Market Research (TMR) found out that about 85% growth in construction volumes and 57% of growth in nanocoatings market in major countries such as India, the U.S., and China.
Nanocoatings Market to Gather Sufficient Demand Due to Superior Physical and Chemical Properties
The nanocoatings possess superior qualities which have proved to be catalyst in the robust growth of nanocoatings market. Nanocoatings are produced with precision and involves thorough process which includes deposition of atoms in a controlled manner to produce a uniform layer on the surface. Properties of nanocoating such as abrasion resistance, transparency, corrosion resistance, and ductility enhance the product quality.
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The growing awareness about using eco-friendly materials is increasing at a rapid rate. The government bodies of numerous countries are promoting the use of eco-friendly materials for decreasing the pollution levels. Many industries are switching to use such materials instead of use of conventional ones. Nanocoating is preferred compared to conventional coating as it is eco-friendly, non-toxic, and safe. It provides protection against harmful UV rays and resists abrasion. These coatings are preferred by automotive industries because they do not require polishing to maintain their shine. Hence, all these aspects will have a profound impact on the growth of the nanocoating market.
Asia Pacific and Europe Estimated to Constitute Significant Share of Nanocoatings Market
The global nanocoatings market can be segmented into regions such as North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. The Asia Pacific and Europe markets are estimated to observe significant growth for the nanocoatings market. The presence of key manufacturers in the region and the rising industrialization may serve as vital growth opportunities for the nanocoatings market in Asia Pacific and Europe.
Major market players are investing in mergers and acquisitions, joint ventures, and partnerships to maintain their dominance in the market. R&D activities are being conducted to innovate and develop new technologies to enhance the production of nanocoatings. The investors are investing in new machineries to make the production process fast and easy pertaining to the demand of the end-user industries. The nanocoatings market is moderately consolidated and is dominated by a few players.
The key market players operating in the global market are Nanovere Inframat Corporation, Technologies LLC. Bio-Gate AG, Cima NanoTech Inc., Buhler PARTEC GmbH, Eikos Inc. Nanogate AG, Nanophase Technologies Corporation, and Integran Technologies Inc.
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The global nanocoatings market has been segmented as follows:
Global Nanocoatings Market, by Type
- Abrasion & Wear Resistant
- Self-cleaning (Bionic)
- Self-cleaning (Photocatalytic)
- Thermal Barrier & Flame Retardant
Global Nanocoatings Market, by End-user
- Health Care
- Food & Packaging
- Others (including Household, Water Treatment, and Tools & Engineering)
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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