Fact.MR 170 Pages of Market Research Survey by Fact.MR, A Market Research and Competitive Intelligence Provider Offers Insights into Sol-Gel CoatingsMarket Growth and Highlights Factors Driving the Sales of Sol-Gel Coatings
The Fact.MR market survey for sol-gel coatings offers in-depth analysis of key factors impacting demand in terms of products and application. It also underlines increasing production of biomedical devices as chief growth drivers.
NEW YORK, July 13, 2021 /PRNewswire/ -- The global sol-gel coatings market is anticipated to exhibit impressive growth, surpassing valuation of US$ 5 Bn through 2031 in comparison with US$ 2.5 billion registered in 2020, finds Fact.MR. Due to the increasing application in biomedical, automotive, construction, and electronics domains, the market for sol-gel coatings is expected to expand at a robust CARG of over 10% across the forecast period 2021-2031.
Owing to the rise in manufacturing of biomedical devices, the demand for sol-gel coatings is skyrocketing. Sol-gel coating is identified as one of the most preferred choices for covering metal implants due to its convenience of operating at room temperature and high anti-corrosive nature.
Sol-gel carriers are also utilized in various other biomedical applications such as in long-term medication delivery and as bone grafting medium. Thus, with increasing demand for metal implants and ongoing technological developments in the biomedical domain, biomedical industries are expected to account for more than 40% of the sol-gel coating sales over the assessment period.
North America is dominating the global sol-gel coating market, accounting for nearly 30% of the overall market share. On account of increasing demand for sol-gel products for electronics and biomedical applications in countries like the U.S. and Canada, the North America market is expected to reach a valuation of US$ 1.3 billion by 2031.
"With increasing applications of sol-gel such as thin films and fibers, nano-scale powders, protective, optomechanical, and anti-corrosive coating, across automotive, electronics, biomedical and construction domains, the market is expected to witness exponential growth opportunities," says the Fact.MR analyst.
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The market for sol-gel coating is moderately fragmented. The prominent players are investing in research and development (R&D) for launching new products. Besides this, some of the market players are focusing on forging strategic collaboration and acquisition to strengthen their market presence. For instance,
EPG AG announced launch of a new sol-gel coating method named, 'Saphiral,' for aluminium surfaces in the kitchen in 2019. This coating is anticipated to offer outstanding protection to surfaces against chemical attacks and scratches by alkalis and acids.
In June 2017, the Sherwin Williams Company announced acquisition of an American based paints and coatings manufacturer, Valspar Corporation. The acquisition will assist in the company's growth strategy of becoming a global leader in the industry.
Leading market players operating in the sol-gel coating market profiled by Fact.MR are:
Akzo Nobel NV
Henkel AG and Co. KGaA
Mitsubishi Materials Corp.
Axalta Coatings Systems Ltd.
Nanovations Pvt Ltd.
More Valuable Insights on Sol-Gel CoatingMarket
Fact.MR, in its new report, offers an unbiased analysis of the global sol-gel coating market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in sol-gel coating market with detailed segmentation:
Key Questions Covered in the Sol-Gel CoatingsMarket Report
The market survey also highlights projected sales growth for sol-gel coatings market between 2021 and 2031
The report offers insight into sol-gel coatings demand outlook for the forecast period 2021-2031
Sol-gel coatings market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
Sol-gel coatings market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
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