Smart Coating Market is valued at USD 5.75 Billion in 2021 and is expected to reachUSD 24.63 Billion by 2028 with aCAGR of 23.1% over the forecast.
Global Smart Coating Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2028- Increasing demand for smart coatings from various end-use industries such as the military, building and construction, automotive, healthcare, customer electronics, etc. is one of the major factors driving the growth of the Global Smart Coating Market.
Nowadays, the smart coating is gaining popularity in the commercial application sectors as it is used for protective as well as decorative purposes. There are many competitive benefits of using different types of smart coatings. It is a coating that can also indicate damage to the engine or oil and gas platforms or composite composites used to save the aircraft. In addition, this packaging can be a barrier to the film application and can also be transparent and moisture. Due to the unique features of this material, they are being accepted in various applications such as military, aerospace, hospitals, automobiles, etc. In addition, the smart coating can have both passive and active ingredients so that the benefits of their immediate response can be achieved because of the necessary stimuli. In addition, most smart coatings contain metal and metal oxide nanoparticles, which provide numerous functional properties such as high surface area, magnetic resonance relaxation, and electronic sensitivity. On the other hand, the anti-anti-variants in the automotive industry find a wide range of applications to produce scratch-free vehicles. In addition, they are used in fasteners, body hardware, door closed, lock parts, exhaust, suspension, engine components, clamps, and hose connections.
Covid-19 has also affected the growth of the global smart coating market owing to the supply chain breaks, the cancellation of technology programs, and the offices shutdown globally. The closure of various plants and factories in leading regions like North America, Europe, Asia Pacific, South America and the Middle East, and Africa has affected the global supply chain and has negatively affected the sale of production and distribution schedule in this market.
The global smart coating market is segmented based on product, function, End-user application, and region & country level. Based on product, the market is segmented into pH, ionic strength, temperature, pressure, surface tension, electric or magnetic fields, light, acoustics, and mechanical forces. Based on function, the market is segmented into anti-corrosion, anti-icing, anti-fouling, anti-microbial, self-cleaning, and self-healing. Based on end-user applications the market is segmented into medical fields, military applications, IT technologies, aerospace, food & packaging, agriculture, automotive, architectural, industrial, household, cosmetic & personal care and apparel.
The regions covered in the global smart coating market report are North America, Europe, Asia-Pacific, Latin America, and the Rest of the World. Based on a country level, the market of the global smart coating market is subdivided into the U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, Southeast Asia, Middle East Asia, GCC, Africa, etc.
Some of the key players are
On March 23rd, 2022; An imaginative approach to polymer surface coating has produced a sustainable way to remove mercury from water while providing a wide range of protection including for preventing metal corrosion and solvent damage of plastic PVC pipes. The smart coating, made from low-cost chemicals from oil refining and other sources, also can prevent acid and water damage of concrete surfaces and be repaired in situ by a simple heating process, says Flinders University project leader Max Mann.
The Rising Demand for Advanced Materials in the Aerospace, Military, Healthcare and Textile Industries is Boosting the Overall Growth in the Global Smart Coating Market
In the last few years, the use of advanced smart coating has also increased significantly in the aerospace, military, healthcare, textile industries, and construction sectors. For instance; the Indian government planned to spend US$ 1.4 trillion on infrastructure from 2019-to 23 to have a sustainable development of the country. And also, according to the BrandEssence market survey; 1.2 million new housing units are planned every year in the US. Global construction spending in 2012 was about USD 4 trillion. Thus, with a large-scale construction sector, huge investments have been made by the government as well as the private sector through various channels. Also, the tendency of the citizens towards house building has increased a lot which is benefiting the smart coating market.
And, several market players in the smart coating market are focused on new product development tremendously in the last few years. Furthermore, players are focusing on product innovations by understanding the customer behavior at the right time to survive in the market. For this, the players are focusing on establishing their dominance in the market by making various agreements, and acquisitions with other players in the market.
However, high cost of these coatings may hider the market growth. In spite of that, growing advancements in this field may create more opportunities for the further growth of the market.
Asia-Pacific is expected to show a fastest growth in the global smart coating market. The smart coating is used in various industries such as automotive, aerospace, defense, marine, and construction mainly in China and India. In addition, the increase in investment by private companies and research institutes to develop new types of smart coatings for various applications is expected to increase market revenue in the region. For example; Ming Yang, a Chinese researcher at the Harbin Institute of Technology, and his team developed a self-healing coating that is as hard as tooth enamel after the structure of human skin. The coating can protect against scratches on any surface, including windows, computer displays, and smartphones. Another feature of the coating is that it kills bacteria, so it can be used in biomedical devices such as endoscopes, insulin pumps, and pacemakers to help heal itself. These factors are contributing to the adoption of smart coatings in various industries. Furthermore, The Asia Pacific region has some of the largest automakers in the world. In 2021, China's automotive industry produced approximately 21.4 million passenger cars. China is projected to produce not only the largest passenger car in the Asia-Pacific region in 2021 but also the largest passenger car in the world by 2021.
North America is expected to sow a significant growth in the global smart coating market within the forecast period. The growing use of smart coatings in military applications due to their ability to customize and self-repair are expected to increase market returns in this region. Increasing government investment and US military support for research and development of new smart coatings (R&D) are also expected to foster the market growth in this region. In addition, increasing the adoption of smart coatings by the U.S. military for the enhanced defense of combat weapons, reducing life-cycle costs as well as increasing readiness, i.e., reducing equipment downtime to reduce the military's logistical burden, is expected to increase market revenue over the forecast period.
|2018 - 2021
|2022 - 2028
|Market Size in 2021:
|USD 5.75 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 24.63 Billion
|Tables, Charts & Figures:
|Smart Coating Companies
|3M, Akzo Nobel NV, Jotun, NEI Corporation, Bayer AG, PPG Industries Inc, and The Sherwin-Williams Company, DuPont, The Dow Chemical Co., BASF SE, among others.
|By Product, By Function, By End-User
|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
We are always looking to hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and inclination interested? please email us email@example.comJOIN US
BrandEssence® Market Research and Consulting Pvt ltd.
124, City Road, London EC1V 2NX
© Copyright 2024-25 BrandEssence® Market Research and Consulting Pvt ltd. All Rights Reserved | Designed by BrandEssence®