CHICAGO, Sept. 15, 2021 /PRNewswire/ -- The global paints and coatings industry is mature and generates stable revenue for the world economy. The coatings market grows with the economy and is expected to witness growth in developing economies. The construction industry is one of the leading segments in coatings industry across the globe. Smart coatings are gaining high momentum across the coating industry. Advancements in technologies and stringent government regulations on the use of VOCs, encapsulation, and nanotechnologies have fueled the adoption of smart coatings in various end-user industries. Arizton's research reports on the chemical industry offering an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market insights. Observing these rapid and drastic changes in demand and supply patterns encouraged the industry analysts at Arizton to publish exhaustive and data-driven insights on these recent trends in the industry.
Here's a sneak peek at these reports:
1. Protective Coatings Market - Global Outlook and Forecast 2021-2026
The global protective coatings market is expected to grow 1.4 times during the forecast period. The protective coatings market in APAC region is expected to witness the highest incremental growth of 41.2% from 2020–2026. Protective coatings are highly used in the exterior and interior of spacecraft and in aerial vehicles. The surge in growth of aerospace industry is driving the demand for protective coating and will grow more in the coming years. The global protective coatings market is expected to witness sudden traction in demand during 2021 after the downfall of the market in 2020 due to COVID-19. The market will be driven by major investments in petrochemical and chemical facilities, especially in countries such as the US, China, and Iran. Owing to the advancements in surface solutions and use of lightweight materials, the demand for protective coatings is expected to increase.
The demand for protective coating is rising due to high demand from end-user segments in the APAC region, especially from the construction and infrastructure sectors. The need for low emission coatings is driving the demand for environment-friendly protective coatings over the past few years. The APAC protective coatings market is estimated to reach USD 19.8 billion by 2026.
2. Antimicrobial Coatings Market - Global Outlook and Forecast 2021-2026
Antimicrobial coatings market will grow at a CAGR of 6% during the forecast period. Over the last few years, there has been a tremendous increase in the demand for antimicrobial coatings in the healthcare sector. The US is a major revenue generator in the antimicrobial medical device coatings market. The growing demand for medical devices, rising number of minimally invasive surgeries, increasing chronic disease patients, rising income levels, and use of home healthcare facilities are some factors contributing to the market growth. In recent years, antimicrobial coatings in the textile industry is gaining high traction due to their capacity to fight bacteria, fungus, and viruses.
Akzo Nobel, Sherwin- Williams company, AK Steel, Nippon Paints, DuPont, Diamond Vogel Paints, BASF, Axalta Coating Systems, and PPG Industries are some of the major players in the antimicrobial coatings market. As the investment in construction industry is increasing, the players in antimicrobial coatings have the huge opportunity to grow in the Middle East & Africa region.
3. Smart Coatings Market - Global Outlook and Forecast 2021-2026
The global smart coatings market is expected to reach over USD 11 billion by 2026, growing at a CAGR of around 18% during the forecast period. The coatings industry is becoming environment-friendly with zero to low VOC content in products, a factor that determines market leadership in a competitive scenario. Smart coatings are widely adopted by end-users owing to the development of new technologies that enhance the functionalities of coatings. Manufacturers are constantly working to innovate and manufacture smart coatings to cater to the current market needs. Most of the coating manufacturers have adopted waterborne coatings, high solids, powder coatings, and UV cure coatings for manufacturing. Anti-corrosion smart coatings are widely used in various end-user industries. They hold the largest market share of 26.13%, followed by self-cleaning coatings. Several players in the smart coatings market are expected to expand their presence worldwide.
One of the major transformations in the automotive coatings industry is due to the use of smart coatings as they provide improved surface durability and providing additional functionalities such as self-healing, super-hydrophobicity, self-sensing, soundproof, and vibration damping.
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