Global Nanocoating Market is valued at USD 9.10 Billion in 2021 and is expected to reach USD 37.58 Billion by 2028 with a CAGR of 22.46% over the forecast period.
Global Nanocoating Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2021-2028- Surging applications of nanocoating across many applications like construction, medical, and other are some of the major factors driving the growth of the Global Nanocoating Market.
Nanostructured coatings have recently piqued interest due to the ability to synthesize materials with unique properties such as high hardness, toughness, wear resistance, and optical transparency, making them technologically appealing for a variety of applications ranging from industrial to biomedical. The future of nanocoating is massive because nanocoating offers considerable benefits for applications in the aerospace, defense, medical, marine, and oil industries.
The Covid-19 pandemic has wreaked havoc on the worldwide economy, putting lives and livelihoods in jeopardy. Temporarily shut down resulting in significant economic and financial losses, unemployment, supply and demand chain disruption, and financial insecurity. Furthermore, Covid-19's quick spread due to its airborne nature has considerably increased the transmission risk, thereby reducing worker availability. This impact is mostly due to severe disruptions in raw material shipping as well as the shutdown of end-use industries such as automotive, marine, aerospace, and construction, resulting in a drop in demand for nanocoating at this time. And, this has affected the market growth.
The global nanocoating market is segmented based on type, application, and geography. Based on type, the global nanocoating market is segmented into anti-fingerprint, antimicrobial, self-cleaning (bionic & photocatalytic), anti-corrosion, conductive, and others. Based on application, the global nanocoating market is segmented into electronics, energy, food & packaging, construction, marine, automotive, healthcare, and others.
The regions covered in this global Nanocoating market report are Asia-Pacific, North America, Europe, and the Rest of the World. Based on a country level, the market of global Nanocoating is subdivided into the U.S., Canada, Brazil, Mexico, Germany, U.K., France, Italy, China, Japan, India, Southeast Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Nanotechnology and nanocoating deal with fascinating new opportunities in the construction industry and architecture. For example; through the development of very sturdy, long-lived, and at the same time tremendously lightweight construction materials. Basic construction materials such cement, concrete, and steel will also benefit from nanotechnology. The addition of nanoparticles will lead to stronger, air purifying, more durable, fire-resistant, self-healing, easy to clean, and speedy compacting concrete. Due to the outstanding features of nanocoating, these are widely used in the construction sector. For example; Action Tesa has unveiled TESA Antiviro, an antimicrobial coating on pre-laminated boards. The product is appropriate in producing furniture items for any high public traffic areas such as hospitals, health and spa institutions, malls, educational institutions, airports, and hotels. As a result, nano-coating is regarded as the most encouraging high-performance material for construction applications. Consequently, this factor is augmenting the market growth.
Additionally, the demand for nanocoating across diverse applications is another aspect that largely contributes to enriching the market value worldwide. Nanocoating has already seen application in life sciences & healthcare in facilitating anti-bacterial surfaces for medical catheters added to paints and lacquers used to coat medical equipment. Nanotechnology also has a substantial impact on the glass due to which it is widely used to coat electronic devices. Several electronic devices made with nanomaterials are already commercially accessible and more are coming onto the market in upcoming years. For example; in March 2020, P2i partnered with Samsung which will see its Barrier nanocoating technology deployed through numerous smartphone designs. Semblant, the market leader in protective nanocoating also innovated its MobileShield waterproofing nanotechnology. As a result, nanocoating is making a substantial impact in the electronics and optic division as well. As a consequence, the aforementioned factors are intensifying the growth of the nanocoating market all over the globe.
However, the high cost related to nanocoating compared to traditional surface coatings may impede the growth of the global nanocoating market. In spite of that, development in the automotive industry along with constant extensive research by several key players throughout the globe is estimated to offer ample opportunities to the market players.
On August 31st, 2020; Muse Nanobots, an Indian tech startup, developed a nanotech textile covering that may inactivate the Coronavirus within five minutes of contact. Muse nanocoated textiles can give greater protection for common people travelling and will provide great safety to frontline healthcare, hospital, hotel, and restaurant staff when the economy begins to open up after months of lockdown.
On June 24th, 2020; Onyx's management team submitted an application to SGS International for certification of the groundbreaking Onyx Graphene product. This ultra-hard 10H ceramic coating is designed to deliver N1 smoothness and is built to last a lifetime.
On December 3rd, 2019; HZO, announced the HZO PRO800-PL, a new coating equipment series that features the industry's largest coating chamber, allowing OEMs seeking splash and spill protection for their electronics to achieve higher throughput and lower costs.
North America is expected to capture a prominent position in the global nanocoating market and is predicted to maintain its dominance over the projection period. Product launches, mergers and acquisitions, and manifold market strategies applied by key vendors are some of the major factors booming the market sales in the region. For instance; in April 2021, Actnano achieved a significant milestone for the company. In 2020, the company’s protective coating under the brand name ‘nanoGAURD’ ensured about 1.2 million construction vehicles along with a few autonomous automobiles on the road. In addition to this, Tesla Nanocoatings unveiled a new technology combining carbon nanotubes for workers’ safety in January 2021. All such developments by the number of market players have maintained the dominance of the market in the region.
Asia Pacific is the fastest rising region in the global nanocoating market. The improving building & construction activities and advancement of the industrial sector are positively impacting the market. China contributes a major share owing to the existence of a huge manufacturing base. According to the National Bureau of Statistics; the value of construction output reported 25.7% of China's GDP in 2021, up from 11.0% in 2020. China holds the first rank in the construction market in the world. As nanocoating is advantageous for protecting the surface of different construction materials.
Report Analysis | Details |
---|---|
Historical data | 2018 - 2021 |
Forecast Period | 2022 - 2028 |
Market Size in 2021: | USD 9.1 Billion |
Base year considered | 2021 |
Forecast Period CAGR %: |
22.46% |
Market Size Expected in 2028: | USD 37.58 Billion |
Tables, Charts & Figures: | 175 |
Pages | 196 |
Nanocoating Companies | Nanophase Technologies Corporation, Telsa Nanocoatings Inc., CG2 Nanocoatings, Inframat Corporation, P2i Ltd., Integran Technologies, Nanovere Technologies LLC, NASIOL INDIA COATING, EZ Coating LLC, nano Care Deutschland AG, DryWired, actnano, Aculon, Advanced Nanotechnologies and NANOBIZ.PL Ltd., and others. |
Segments Covered | By Type, By Application |
Regional Analysis | North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa |
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