Global Nanocoatings Market to Progress at 24.9% CAGR from 2014 to 2020
Zion Research has published a new report titled “Nanocoatings (Anti-Fingerprint, Anti-Microbial, Anti-Fouling & Easy-To-Clean, Self-Cleaning and Others) Market for Medical & Healthcare, Water Treatment, Electronics, Building & Construction, Automotive, Energy and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020.” According to the report, global demand for nanocoatings market was valued at USD 1.50 billion in 2014 and is expected to reach USD 6.85 billion in 2020, growing at a CAGR of 24.9% between 2015 and 2020. In terms of volume, the global nanocoatings market stood at 266.0 Kilo tons in 2014.
Nanocoating is latest technology used in coating industry. It is preferred in overconventional coatings due to their lower VOCs content. It offers the features to the object on which the nanocoating is applied such as stronger durability, protection, streak-free, shine & excellent glance, UV resistant, chemical resistant, anti-corrosion and low maintenance. It is extensively used in several applications such as protection of ships, planes, automobiles, anti-fingerprint sealing for stainless steel, sanitary facilities, displays and as an easy-to-clean sealing for walls and facades.
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The nanocoatings market is mainly driven by strong demand from medical and automotive coatings industry. Amplification in the coatings sector coupled with growing industrial demand and emerging economies especially in BRIC countries has been resulted into growing demand for nanocoatings. Rising demand for nanocoatings instead of conventional coatings owing to its superior attributes and low VOC emissions are expected to be major driving factors for the nanocoatings market. However, environment regulatory and health issues may hold back the growth of the market. Nonetheless, growing demand for nanocoatings technology from electronics industry is expected to open new opportunities for the market growth in the near future.
In terms of volume, anti-microbial dominated the nanocoatings market with around 30% share in total market in 2014. The second largest product segment was anti-fouling & easy-to-clean for nanocoatings market in the same year. Moreover, anti-fingerprint is the fastest growing segment due to rising demand of nanocoatings material form industries such as electronics, medical and the healthcare industry over the next few years.
Medical & healthcare was the dominating application segment in 2014. It accounted around 16% shares of total market volume consumption and further it is expected to continue this trend within the forecast period. Moreover, automotive and electronics are the fastest growing application segments that are likely to boost the market growth. This growth is attributed to emerging automobile industry in Asia Pacific region.
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North America held as a dominating region for the nanocoatings market and accounted around 40% of share of the entire market in 2014. U.S. is the fastest growing market for nanocoatings owing to the technological upgrading pursued in highly developed healthcare amenities. In addition, Europe is likely to witness noteworthy rise due to stringent regulations regarding VOC emissions from the paints and coatings industry and increasing raw material cost of conventional coatings results to increasing adoption of nanocoatings. Furthermore, Asia-Pacific is expected to witness significant growth due to low cost of employment and technological advancements.
Some of the key players associated to the global nanocoatings market includes P2i Ltd, Nanovere Technologies LLC, Nanofilm Ltd., Nanogate AG, Nanophase Technologies Corporation, Integran Technologies Inc., Inframat Corporation, Cima NanoTech Inc., Buhler PARTEC GmbH and Bio-Gate AG.
The report segments the global nanocoatings market as:
Nanocoatings Market: Product Segment Analysis
- Anti-fouling & easy-to-clean
Nanocoatings Market: Application Segment Analysis
- Medical & Healthcare
- Water Treatment
- Building & Construction
Nanocoatings Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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