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.
The coatings used in various end-user industries for improving the physical properties for the applied surface like anti-fingerprint property, antifouling property, anti-icing & deicing property, self-cleaning property, anti-reflection property, oleophobicity, hydrophobicity, scratch & abrasion resistance, UV protection, thermal resistance, microbial resistance, and corrosion resistance. Moreover, it is used by a wide range of substrates such as concrete, wood, plastic, and metals & alloy. Also, it is used to replace conventional surface coatings.
COVID 19 Analysis
The global pandemic of COVID 19 has affected a major chunk of the population. Many people have lost their livelihood because of this global pandemic. It has affected the dynamics and growth of several industries. Everyone is worried about their immunity and follows social distancing. During the lockdown situation, operational activities of various end-user industries were halted which resulted in demand shrink for the nanocoatings market which further leads to decreased sales revenue. The supply chain networks were also disrupted which lead to a decline in profit margin.
However, the nanocoatings market is expected to recover from this global pandemic by the end of the third quarter of the coming year by properly strategizing according to the needs of the market.
Numerous factors drive the market demand in the global market. Anti-corrosion nanocoatings are used in various end-user industries like elections, building, and aerospace, renewable energy industry, healthcare, automotive, marine drives the market demand all across the globe during the forecasted period. Owing to improvement and development in touch-based technology, anti-fingerprint coatings are gaining popularity as it is largely used in dishwasher display, oven display, refrigerator, SCADA system, laptops, and mobiles drive the market demand to a great extent.
The rise in the demand for nanocoatings market in the global market. The growth of automotive-related products like touch panels, windshield glass, and windows coupled with products related to the optics industry like camera lenses, contact lenses, mirrors, sunglasses, and spectacles create various growth opportunities in the global market during the forecasted period. The use of anti-fouling coating is largely used in the marine industry for cleaning purposes for reducing the growth of fouling on ship and boat hulls. Ongoing extensive research done by various major key players all across the globe provides various growth opportunities during the forecasted period.
Though the nanocoating market is increasing tremendously in the global market, some factors restrict the market growth. The high cost involved for nanocoating when compared with conventional surface coatings hinders the market growth in the global market as it is not afforded by all. Moreover, lack of awareness of the availability of this type of coating is another major factor that restricts the market growth.
Value Chain Analysis
The nanocoatings market is growing at an incredible rate globally due to various benefits associated with it. Increasing the use of nanocoatings in the food packaging industry and healthcare sector for its anti-microbial coatings drives the market growth in the global market.
The nanocoatings market has been divided all across the globe based on the raw material, coating method, type, end-user industry, and region.
Based on the Raw Material
The market has been divided all across the globe based on the raw material into combination chemistries, lanthanum strontium manganite (LSM), yttria-stabilized zirconia (YSZ), tungsten carbide (WC), silicon dioxide (SiO2), chromia (Cr2O3), titania (TiO2), alumina (Al2O3), and many others.
Based on the Coating Method
The market has been divided all across the globe based on the coating method into the chemical and electrochemical deposition, electrospray and electrospinning, layer-by-layer self-assembly (LBL), atomic layer deposition (ALD), physical vapor deposition (PVD), chemical vapor deposition (CVD), and many others.
Based on the Type
The market has been divided all across the globe based on the type into hydrophobic coatings, oleophobic coatings, thermal barrier & flame-retardant coatings, anti-reflection coatings, anti-graffiti coatings, anti-icing & deicing coatings, self-healing coatings (bionic & photocatalytic), easy to clean & anti-fouling coatings, anti-fingerprint coatings, anti-microbial coatings, anti-corrosive coatings, and many others.
Based on the End-User Industry
The market has been divided all across the globe based on the end-user industry into chemical, renewable energy, military & defense, marine industry, packaging industry, healthcare sector, electrical and electronics industry, aerospace industry, automotive industry, building, and construction industry, and many others.
Based on the Region
The market has been divided in the global market based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.
The nanocoatings market has been divided all across the globe based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. Being the fastest-growing region, the largest market share in the global market is held by the Asia-Pacific region owing to increasing demand for various end-user industries like marine industry, military and defense, healthcare industry, packaging industry, electronics, building and construction industry, and automotive industry that drives the market demand to this region.
The second-largest market share in the global market is held by the North American region owing to the presence of various major key players in the global market that drives the market demand to this region. Moreover, increasing development in the aerospace industry, renewable energy industry, the healthcare industry is another contributing factor.
The third-largest market share in the global market is held by the European region owing to the presence of well-established technologically advanced infrastructure that drives the market demand to this region. The presence of countries like Germany, Italy, France, and the UK is another contributing factor.
The Latin American region and the Middle East and African region hold the least market share due to the presence of low infrastructure in both these regions. Low per capita disposable income is another contributing factor that restricts the market growth in these regions.
The most prominent major key players in the nanocoatings market all across the globe are mentioned :
These major key players use various strategies to sustain their market position in the nanocoatings market in the global market by going for mergers, and acquisitions, by collaborating, setting up a joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a new production process, and many others to expand their customer base in the untapped market of the nanocoatings all across the globe.
This global nanocoatings market research report consists of the following elements mentioned below:
This market research report contains factors that drive the growth of the nanocoatings market in the global market along with the factors that restrict its growth in the global market. The opportunities available for growth in the nanocoatings market during the forecasted period are mentioned. The impact of COVID 19 on the nanocoatings market all across the globe is mentioned. The future growth rate in the nanocoatings market during the forecasted period is estimated and mentioned.
Nationalized laboratory, raw material suppliers, potential investors, research and development institutes, traders and distributors of nanocoatings, nanocoatings manufacturers, and many others.
|Market Size||USD 15 billion|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Raw Material, Coating Methods, Type, End-Use Industry|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Nanowerk. (U.S.), Nanovere Technologies, LLC. (U.S.), P2i Ltd. (U.K), Nanoslic Protective Ceramic Coatings (U.S.), NANOFILM. (U.S.), Inframat Corporation (U.S.), Plasmatreat Gmbh (U.S.), Nanogate SE (Germany), NanoTech Coatings · (U.S.), CYTONIX (U.S.), and Möller Medical GmbH & Co. KG (Germany)|
|Key Market Opportunities||
|Key Market Drivers||Growing construction, marine, and renewable energy industries|
Frequently Asked Questions (FAQ) :
The nanocoatings market is expected to grow at a higher CAGR of 22.3% in the global market during the forecasted 2030.
The nanocoatings market is expected to account for a higher market share value of USD 15 billion by the end of the forecasted 2030.
The largest market share in the nanocoatings market all across the globe is held by the Asia-Pacific region.