Global Smart Coatings Market Analysis & Forecast, 2016–2024
Zion Market Research, the market research group announced the analysis report titled ‘Smart Coatings Market: Industry Perspective, Comprehensive Analysis, and Forecast, 2015 – 2021’
The coating is a process that is applied to a surface to protect it from damage caused by environmental factors. It is also used to enhance the appearance of the surface. Smart coatings are special films with inbuilt properties that make them sense and respond to environmental, mechanical, chemical, and physical properties such as light, pressure, or electric current. The materials used in smart coatings are chemical-resistant and are weatherproof. Hence, the overall process of smart coatings can be customized as per end-use applications.
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On the basis of function, the global smart coatings market is segmented as self-healing coating, self-cleaning coating, microcapsule healing coating, self-dimming coating, biomedical coating, anticorrosion coating, and others. Of which the self-cleaning segment dominated the market. Smart coating materials are also characterized by their ability to adjust to light transmission based on their applications. Smart coatings are used in various applications. Based on the end-user applications, the global coatings market is segmented as aerospace, IT, food packaging, construction, automotive, industrial, household, and personal care industries. Increasing investments in infrastructure facilities in the construction industry are anticipated to drive the global smart coatings market in the future.
End-user applications such as military, medical, and construction industries are motivating the growth of the global smart coatings market around the world. Rapid growth in the aerospace, healthcare, and textile industries is also expected to foster the overall growth of the market. Moreover, rising investments in the infrastructure facilities also are expected to contribute to the global market growth. Furthermore, increasing demand for consumer electronics and extreme growth of smartphone industry are the other factors impacting the growth of smart coatings market positively. On the hand, ecological effect of smart coatings is the restraining factor which is anticipated to hamper the growth of the global smart coatings market.
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Asia Pacific is anticipated to witness the highest growth in future. Increasing requirement for smart coatings across countries such as China and India has boosted the growth of the market in this region. In addition, government plans upholding infrastructure development in Indonesia, Vietnam, and Philippines are the key drivers for the market growth. Furthermore, owing to the advancements in technology along with the various smart coatings applications, North America is expected to witness considerable growth.
Some of the major players dominating the global smart coatings market are 3M Company, Bayer AG, The Dow Chemical Company, DuPont, Eastman Chemical, Royal DSM, Nippon Steel, Balcony Systems Solutions, Ltd., Debiotech SA, and AnCatt, Inc. Other key players influencing the global market include Research Frontiers, Inc., Nanoshell, New Energy Technologies, PPG Industries, and BASF SE.
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Smart Coatings Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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