Nanocoatings Market to Reach US$ 14.5 Billion by 2024
by Rahul Rastogi Market Research AnalystAs per the latest report by IMARC Group, titled “Nanocoatings
Market: Global Industry Trends, Share, Size,
Growth, Opportunity and Forecast 2019-2024”,
the global Nanocoatings market size reached US$ 5.2 Billion in 2018. A
nanocoating refers to a thin film that acts as a barrier between a substrate
material and the environment for improving its aesthetics as well as
functionality. The process of nanocoating is performed via a precise procedure
wherein atoms are employed for creating a layer that uniformly covers every
feature on the surface. It is generally applied on materials like glass,
metals, plastics, textiles and ceramics for altering their hydrophobic and
oleophobic properties. As it offers numerous advantages including scratch,
chemical and abrasion resistance, its demand is increasing around the world.
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Market Trends:
Nanocoatings provide clear and colorless
protection, are anti-adhesive in nature and relatively more hygienic as
compared to conventional coatings. Moreover, they do not accumulate dust and
assist in averting the growth of bacteria and microorganisms. As a result, they
are widely used in various end use industries ranging from manufacturing to
medical and healthcare. Additionally, as they offer resistance against
temperature fluctuations, they are extensively used in products like
automobiles, aircraft, ceramic tiles and glass windows which are impacted by
temperature alterations as well as harsh climatic conditions. Apart from
protecting against ultraviolet (UV) rays, nanocoatings are corrosion resistant
which aids in increasing the lifespan and durability of metals products. This
has resulted in the increasing demand for nanocoatings in the automobile
industry for safeguarding paint surfaces. Looking forward, the market value is
projected to reach US$ 14.5 Billion by 2024, expanding at a CAGR of around
18.6% during 2019-2024.
Market Summary:
· Based
on the product, the nanocoatings market type
has been segregated into anti-microbial, anti-fingerprint, anti-fouling, easy
to clean and self-cleaning coatings. At present, anti-microbial nanocoatings
dominate the market, holding the largest share.
· On
the basis of the end user, the market has been classified into construction,
food packaging, healthcare, electronics, automotive, marine, and others.
Amongst these, the construction sector accounts for the majority of the total
market share.
· Region-wise,
the market has been divided into Europe, North America, Asia Pacific, Latin
America, and Middle East and Africa. Currently, North America is the leading
market, holding the majority of the global share.
· The
competitive landscape of the market has been examined with some of the key
players being BASF, Bio-Gate, Buhler, Nanogate, PPG Industries, AdMat
Innovations, Cima NanoTech, CG2 NanoCoatings, Cleancorp, Ecological Coatings,
Eikos, Inframat, Integran Technologies, Nanofilm, Nanomech, Nanovere
Technologies, Nanophase Technologies, P2i, Surfix and Tesla NanoCoatings.
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Created on Jun 4th 2019 03:57. Viewed 428 times.