The nanocoatings market was marked at a value of USD 3327 million in 2015 and it is further expected to grow at a higher CAGR of 22.3% during the forecasted period to account for a higher market value share of USD 15 billion by the end of the forecasted 2021-2030.
Acknowledging the huge traction the market is garnering currently, Market Research Future (MRFR) in its recently published study report asserts that the global nano coatings market is projected to witness significant growth.
Nano Coatings can improve the performance of the applied surfaces with physical properties such as resistance to corrosion, microbial, and heat, providing them protection against UV rays, scratch, and abrasion. Further nanocoatings also offer to the applied surfaces with a range of properties such as hydrophobicity, oleophobicity, anti-reflection property self-cleaning property, anti-icing/ de-icing property, antifouling property, and anti-fingerprint property among other.
Furthermore, nanocoatings are compatible with a wide range of substrates such as metals & alloys, plastic, wood, and concrete. As a result, these coatings are rapidly replacing conventional surface coatings in a range of applications across various end-use industries. Consequently, the nano coatings market is growing pervasively on the global platform.
The nano coatings market is largely driven by the electronics and automotive industry due to the anti-fingerprint quality that has wide uptake in the evolving touch-based technology in the electronics industry (mobiles, laptops, SCADA systems, refrigerators, and displays), and in the automotive industry (window & windshield glass, and touch panels).
The burgeoning electronics and automotive industries are expected to drive the market during the forecast period as well.
Growing applications of nanocoatings in optics industry for the making of spectacles, sunglasses, mirrors, contact lenses, and camera lenses is another key driving force behind the market growth which will continue to support the market throughout the review period.
Furthermore, easy to clean and anti-fouling coatings are driving a huge demand from the marine industry for boats and ship hulls. Additionally, anti-microbial coatings are largely preferred and find a wide range of applications in the healthcare and food packaging industry which in turn, fosters the market growth of nanocoatings.
On the other hand, factors such as the high cost of nanocoatings compared to conventional surface coatings are acting as a headwind to the market growth. Nevertheless, the huge demand for nanocoatings which is cumulatively driven by the end-user industries is expected to support the market growth during the forecast period.
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Nano Coatings Market – Segmentation
MRFR has segmented its analysis into five key dynamics for an easy grasp;
By Raw Materials : Alumina (Al2O3), Titania (TiO2), Chromia (Cr2O3), Silicon Dioxide (SiO2), Tungsten Carbide (WC), Yttria-Stabilized Zirconia (YSZ), Lanthanum Strontium Manganite (LSM), and Combination Chemistries among others.
By Coating Methods : Chemical Vapor Deposition (CVD), Physical Vapor Deposition (PVD), Atomic Layer Deposition (ALD), Layer-By-Layer Self-Assembly (LBL), Electrospray and Electrospinning, Chemical and Electrochemical Deposition, among others.
By Types : Anti-Corrosive Coatings, Anti-Microbial Coatings, Anti-Fingerprint Coatings, Easy To Clean & Anti-Fouling Coatings, Self-Healing Coatings (bionic & photocatalytic), Anti-Icing & Deicing Coatings, Anti-Graffiti Coatings, Anti-Reflection Coatings, Thermal Barrier & Flame-Retardant Coatings, Oleophobic Coatings, and Hydrophobic Coatings among others.
By End-Use Industries : Building & Construction, Automotive, Aerospace, Electrical & Electronics, Healthcare, Packaging, Marine Industry, Military & Defense, Renewable Energy, Chemical, and others.
By Regions : Europe, North America, APAC and the Rest-of-the-World.
Global Nano Coatings Market – Regional Analysis
The Asia Pacific region is holding the major share in the global Nano Coatings market. Japan has emerged as the major player in the region followed by China, South Korea, Taiwan, and India due to the growing demand from various end-use industries such as building & construction, automotive, electronics, packaging, healthcare military & defense, and marine.
Innovation in technologies and success achieved in the production of electronics and electrical items among others has propelled the Nano coatings market in the APAC region to continue its dominance over the global market during the forecast period 2018-2023.
Whereas, nano coatings market in the North American region closely follows the APAC region in terms of market consumption. This market is expected to show high demand during the forecast period 2018-2023 from the end-user industries such as building & construction, healthcare, aerospace, and renewable energy industries.
On the other hand, the Nano coatings market in the European region is rapidly emerging as a promising market. The region is expected to demonstrate high growth prospects during the forecast period, witnessing the huge demand from the industries such as automotive, microelectronics, and renewable energy industry.
The MEA region (the Middle East & Africa) is also expected to observe a considerable demand for nanocoatings over the assessment period due to growing building & construction, marine, and chemical industries.
Whereas, the Nano coatings market in the Latin American region is expected to be driven by the growing construction, marine, and renewable energy industries during the forecast periods, 2018-2023.
Global Nano Coatings Market – Competitive Landscape
Characterized by the presence of several large and small-scale players, the global nano coatings market appears to be fragmented and highly competitive. Though the large companies have a great geographical presence, the entry of several new companies will pose a stiff competition to them.
Emphasizing upon new product development initiatives, and geographical expansion; Marketers compete based on price and brand reinforcement. Matured players incorporate strategic initiatives such as acquisition, collaboration, expansion, partnership, and technology launch in order to gain a competitive advantage in this market and thus to maintain their market position. These key players strive to develop a wide range of diverse products each intended for a particular purpose.
Some of the eminent leaders of the market include Nanovere Technologies, LLC. (U.S.), Nanowerk (U.S.), P2i Ltd. (U.K), NANOFILM. (U.S.), Nanoslic Protective Ceramic Coatings (U.S.), Inframat Corporation (U.S.), Nanogate SE (Germany), Plasmatreat Gmbh (U.S.), NanoTech Coatings • (U.S.), Möller Medical GmbH & Co. KG (Germany), and CYTONIX (U.S.).
October 23, 2018 – HZO, Inc. (US), a leading global player in advanced and scalable electronics waterproofing and protection solutions announced the acquisition of Semblant Limited (UK), a leader in protective nanocoatings and waterproof technology.
The acquisition will enable HZO to quickly introduce additional protection solutions to current and future customers of both companies with its Spectrum of Protection portfolio of solutions that can allow greater flexibility to manufacturers looking to protect electronic components using a more diverse range of protective coating materials, equipment, and processes.
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