ALBANY, New York, September 23, 2014 /PRNewswire/ --
In its latest market research report, U.S.-based market intelligence firm Transparency Market Research estimates that the global nanocoatings market will be worth USD 6.75 billion by the end of 2019. The new report, titled "Nanocoatings Market (Anti-fingerprint, Anti-microbial, Anti-fouling & Easy-to-clean, Self-cleaning and Others) for Medical & Healthcare, Food Manufacturing, Packaging, Marine, Water Treatment, Electronics, Building & Construction, Automotive, Energy and Other End-user Industries: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" is now available for sale online.
Browse and Buy Nanocoatings Market Report: http://www.transparencymarketresearch.com/nanocoatings-market.html
The report states that the global nanocoatings market demand was USD 1.45 billion in 2012, whereas in 2019, it is likely to be 6.75 billion. This translates into a healthy compounded annual growth rate of 24.7% between 2013 and 2019.
Much of the impetus received by the nanocoatings market is attributed to the growth in the automotive coatings and medical and pharmaceutical applications. This is only compounded by the several environmental benefits offered by nanocoatings as compared to conventional coatings that contain VOCs.
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This market report offers users insights into the developing coatings industry in countries such as India, China, and Brazil. The development in these countries is projected to positively impact the growth of the nanocoatings industry globally.
In Europe, especially where stringent environmental regulations prevail, the conventional coatings industry has taken a hit because of the VOCs contained in coatings. However, as nanocoatings are known to be environment friendly, these restraints do not apply as much. Still, the report states that certain concerns pertaining to health and environment will negatively impact the nanocoatings sector.
According to the report, the growth in industries such as automotive and electronics will spur a demand for applications using nanocoatings over the next few years. In India, there has been a huge demand for nanocoatings in the burgeoning auto industry, besides an increasing interest in the smart coatings sector. These opportunities will keep the market moving forward over the next few years.
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The report also states that anti-microbial nanocoatings ranked as the highest consumed type of nanocoatings. In 2012 they accounted for 30% of the worldwide demand. The medical, healthcare, food manufacturing and water treatment sectors extensively depend on the use of anti-microbial nanocoatings.
However, this report also observes through in-depth analysis that the fastest growth within the nanocoatings sector will come from anti-fingerprint nanocoatings. Electronics, healthcare, automotive, medical, and packaging industries will have the largest contribution to make in this growing demand.
According to the report, the largest end user industry for nanocoatings in 2012 was the healthcare sector. A number of implants and medical equipment feature nanocoated surfaces. The second largest user was the automotive sector which will continue to grow consistently over the next few years. The nanocoatings sector will face a larger demand from varieties such as easy-to-clean, self-cleaning, and anti-microbial.
Browse the full Press Release of Nanocoatings Market: http://www.transparencymarketresearch.com/pressrelease/nanocoatings-market.htm
This report then goes on to discuss the dynamics of the nanocoatings industry based on the geography. As of 2012, North America was reported as being the largest market within this industry, and it was closely followed by Europe. Key reasons for growth here were the healthcare and medical industry. But, much of the growth in the coming years will be witnessed in the Asia-Pacific region with exponential growth in the electronics and automotive sector. As per this report, Asia Pacific will record a 25.8% CAGR between 2013 and 2019.
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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