Global nanocoatings market demand was 255 kilo tons in 2012, with revenue estimated at USD 1,495.0 million. Growing preference for advanced materials in the medical and automotive industry has seen a surge in nanotechnology R&D, which is expected to boost nanocoatings market growth. Nanocoatings market includes nanotechnology developed coatings which possess superior properties including abrasion resistance, ductility, hardness, lubricity and transparency as compared to other conventional coatings. Shifting demand towards nanocoatings instead of polymer coatings mostly due to superior properties and low VOC emissions are expected to be major driving forces for the nanocoatings market. Increasing anti-microbial coatings awareness and self-cleaning types of coatings in mechanical and aerospace applications for the prolonged life span of parts is expected to augment market demand.
REACH legislations in the EU consist of regulations regarding harmful VOC emissions from paints and coatings, which are further expected to fuel nanocoatings market demand. However, the market has low yield and incurs a high capital cost which can prove to be a potential restraints over the forecast period.
Global nanocoatings market volume, by product, 2012 - 2020 (Kilo Tons)
Nanocoatings market can be segmented by products including anti-fingerprint coatings, anti-microbial coatings, anti-fouling & easy-to-clean coatings and self-cleaning coatings. Anti-microbial coatings are mostly used in the packaging, food manufacturing, water treatment and medical & healthcare applications of the nanocoatings market. They offer protection from microorganisms. Anti-microbial nanocoatings are anticipated to grow during the forecast period due to increasing demand from the medical and healthcare sector. Anti-fouling & easy-to-clean coatings are expected to grow with increasing use in electronics, automotive, marine and food manufacturing applications in the nanocoatings market. Also, these nanocoatings also inhibit fungal and algae growth. Anti-fingerprint coatings are expected to be the fastest growing product segment, owing to extensive use in medical & healthcare and electronics applications. Self-cleaning segment includes both bionic and photocatalytic nanocoatings and is expected to witness growth as they provide lotus leaf effect to products.
Global nanocoatings market growth can be attributed to the emergence and development of new and existing applications. They are extensively used in medical & healthcare, food manufacturing, packaging, marine, water treatment, electronics, building & construction, automotive, energy and other niche applications including textile, leather and industrial engineering. Medical and healthcare were the most dominant market application due to increasing use of anti-microbial and anti-fingerprint coatings in medical implants and equipment. Increased use of coatings in electronics due to properties such as chemical, UV and scratch resistance, anti-corrosion, low maintenance, gloss, and color retention is expected to boost further nanocoatings market demand. Positive outlook on the automobile industry is expected to fuel demand for nanocoatings used in color and gloss retention. Additionally, the market is expected to witness growth due to increased construction and infrastructure spending by governments resulting in increased use of coatings in building and construction to restrict mild dew, algae, and microbial growth.
North America was the largest regional nanocoatings market, due to high demand from medical & healthcare applications. The region accounted for over 40% of global nanocoatings market demand and technological developments resulting in advanced healthcare facilities in the U.S. is expected to boost further market revenue. Also, increasing automobile demand in the region is further expected to drive nanocoatings market. European nanocoatings market is expected to witness significant growth due to stringent regulations regarding VOC emissions from the paints and coatings industry and increasing the raw material cost of conventional coatings resulting in increasing adoption of nanocoatings. Growth in key application industries such as electronics, automotive and healthcare, especially in Asia Pacific, owing to low-cost labor and technological advancements are expected to drive nanocoatings market demand in the region.
The market is fairly fragmented due to the presence of some market participants. Key participants are focusing on developments in the field of nanotechnology along with product innovation to achieve significant market share. Key market participants include P2i Ltd, Nanovere Technologies LLC, Nanofilm Ltd., Nanogate AG, Nanophase Technologies Corporation, Integran Technologies Inc., Inframat Corporation, Eikos Inc., Cima NanoTech Inc., Buhler PARTEC GmbH and Bio-Gate AG.
Grand View Research offers special pricing for:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.