ALBANY, New York, Feb. 25, 2019 /PRNewswire/ -- The global nanocoatings market displays a high degree of competition among key players, notes Transparency Market Research. Owing to increasing dominance by key players in the competitive landscape of the global nanocoatings market is moderately consolidated. Some of the predominant players operating in the global nanocoatings market are Buhler PARTEC GmbH, Bio-Gate AG, Cima NanoTech Inc., Inframat Corporation, Eikos Inc., and Integran Technologies Inc.
As per a market intelligence report by TMR, The global nanocoatings market was valued at US$ 4976.2 mn in 2017. The global nanocoatings market is projected to expand at a CAGR of 20.8% from 2018 to 2026.
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Based on geographical standpoint, North America held major share of the global nanocoatings market in 2017. This is mainly because of the increasing consumption from the U.S. The country is a prominent consumer of nanocoatings in North America. This is expected to drive the nanocoatings market in the region. Based on end use, construction sector is expected to expand in the future. This is mainly due to an increasing growth in residential and non-residential construction sectors in the U.S.
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Flourishing End-user Industries to Propel Growth
Nanocoatings are primarily used to create a rigid bond between two surfaces. Owing to this property, nanocoatings are extensively employed across various industries. Some of the end user industries of nanocoatings are construction, energy, aerospace, marine, electronics, food & packaging, health care, and marine to protect structures from corrosion. Unlike other adhesives, nanocoatings can join two substances of different sizes and compositions without much effort. In addition to this, it prevent corrosion on metals too. This property of nanocoatings is increasing its application in the construction industry. This may propel the global nanocoatings market in future.
A gowth in end-user industries is boosting the demand for nanocoatings across the globe. Apart from this, scratches, contamination, and fingerprint smudge properties of anti-fingerprint nanocoatings is boosting their demand in electronics, medical & health care, and automotive sectors. This is expected to boost growth in the global nanocoating market too.
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Stringent Government Policies to Hamper Nanocoatings Market
Use of excessive nanocoatings pose a threat to the environment owing to the emission of volatile organic compounds (VOCs). This is because VOCs are hazardous to environment and health. Several countries have set guidelines for manufacturing of the nanocoatings. Pertaining to this, manufacturers suffer several difficulties in production, storage, and supply of the nanocoatings. This is mainly due to the fact that violation of the governmental guidelines can result in legal as well as monetary punishment. In addition to this, an increasing use of nanocoatings degrade air quality as well. All these factors are likely to restrain the global nanocoatings market. Nevertheless, high performance of nanaocoatings over other substitute is likely to drive the global nanocoatings market in the near future.
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The review is based on TMR' report titled, "Nanocoatings Market (Type- Anti-fingerprint, Anti-microbial, Anti-corrosion, Abrasion & Wear Resistant, Anti-fouling/Easy-to-clean, Self-cleaning (Bionic), Self-cleaning (Photocatalytic), UV-resistant, Anti-icing, Thermal Barrier & Flame Retardant, Conductive; End use - Health Care, Aerospace, Automotive, Textiles, Construction, Electronics)- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026."
The global nanocoatings market is segmented as below:
- Abrasion & Wear Resistant
- Self-cleaning (Bionic)
- Self-cleaning (Photocatalytic)
- Thermal Barrier & Flame Retardant
- Health Care
- Food & Packaging
- Others (including Household, Water Treatment, and Tools & Engineering)
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