ALBANY, New York, April 3, 2019 /PRNewswire/ --The competitive landscape of the global nanocoatings market is moderately consolidated. This is solely because of the entry of several new market players, who are making their way into the market, says Transparency Market Research (TMR) in a recently published report. Inframat Corporation, Nanogate AG, Cima NanoTech Inc., Integran Technologies Inc., and Bio-Gate AG are top companies working in the global nanocoatings market.
A high level of competition exists among players who are operating in the global nanocoatings market. The market is mostly dominated by large players, who are adopting various strategies to stay ahead of the competitors. These players are focusing on improving the quality of their products along with expanding their geographical reach. The level of competition is further getting escalated with the entry of several amateur players acquiring salient features include mergers and acquisitions. Medium and small- sized vendors in the nanocoatings market are looking out for various opportunities to collaborate with dominated players for improving their revenue index.
According to experts from TMR, the global nanocoatings market is expected to accumulate revenue worth US$33,242.0 mn by the end of 2026. The market stood at US$4976.2 mn in 2017. Experts project this growth to occur at a promising CAGR of 20.8% during the forecast period from 2018 to 2026.
Among various types of nanocoatings, the self-cleaning (photocatalytic) segment accounts for a dominant share in the market. This segment is also expected to boost the global nanocoatings market in terms of value during the forecast period. This is due to its extensive usage in medical and electronic devices. Region wise, North America is expected to hold a lion's share in the global nanocoatings market in the coming years. This is attributed to a rapid expansion in automotive and power generation industries in this region.
Rapidly Mushrooming Various End-user Industries Worldwide Stokes Demand in Market
Nanocoatings are comprised of nano molecules which are used for sealing a material at an atomic level by atomic layer deposition methods. Such coatings are also called smart coatings due to their small size, lesser than 100 nm. The nano-particles present in nanocoatings possess different properties include insulation, dirt repellence, electrical conductivity, water repellence, and scratch and temperature resistance. Nanocoatings are highly preferred over traditional coatings in various industrial applications, thanks to its high performance and excellent properties. Such factors are majorly boosting the global nanocoatings market.
Furthermore, nanocoatings also exhibit superior functional properties include anti-corrosive property and resistance property to UV radiations and chemicals. Due to such amazing properties, nanocoatings are widely adopted in various end-use industries such as construction, automotive, healthcare, marine, and electronics. This factor is majorly propelling expansion in the global nanocoatings market. Anti-fingerprint nanocoatings help in reducing the visibility of fingerprints on the coated surface. Thus, such special coatings aid in maintaining the thickness of the coated film. Increasing demand for anti-fingerprint nanocoatings in electronics, automotive, and various defense applications is also fueling demand in the global nanocoatings market.
Hazards to Health and Environment may Hamper Market's Growth
VOC emission during the usage of nanocoatings poses a threat to the environment as well as humans' health. Thus, various countries have taken a major step in setting guidelines for restricting the amount of emitted VOCs at the time of usage of nanocoatings. These strict environmental regulations act as a big challenge in the global nanocoatings market. Nonetheless, rising demand from construction industry for providing protection against moisture is believed to help overcome this challenge in the near future.
The review is based on a market research report by TMR, titled, "Nanocoatings Market (Type - Anti-fingerprint, Anti-microbial, Anti-corrosion, Abrasion and Wear Resistant, Anti-fouling/Easy-to-clean, Self-cleaning (Bionic), Self-cleaning (Photocatalytic), UV-resistant, Anti-icing, Thermal Barrier and Flame Retardant, Conductive; End user - Health Care, Aerospace, Automotive, Textiles, Construction, Electronics, Food and Packaging, Energy, Marine) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026".
The segmentation of global nanocoatings market is based on:
Abrasion & Wear Resistant
Thermal Barrier & Flame Retardant
Food & Packaging
Others (including Household, Water Treatment, and Tools & Engineering)
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