Nanocoating Market To Reach US$ 14.5 Billion |CAGR of nearly 18.6% During 2019-2024

As per the latest report by IMARC Group, titled “Nanocoatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global nanocoatings market size reached US$ 5.2 Billion in 2018. A nanocoating refers to a thin film that acts as a barrier between a substrate material and the environment for improving its aesthetics as well as functionality. The process of nanocoating is performed via a precise procedure wherein atoms are employed for creating a layer that uniformly covers every feature on the surface. It is generally applied on materials like glass, metals, plastics, textiles and ceramics for altering their hydrophobic and oleophobic properties. As it offers numerous advantages including scratch, chemical and abrasion resistance, its demand is increasing around the world.

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Market Trends:

Nanocoatings provide clear and colorless protection, are anti-adhesive in nature and relatively more hygienic as compared to conventional coatings. Moreover, they do not accumulate dust and assist in averting the growth of bacteria and microorganisms. As a result, they are widely used in various end use industries ranging from manufacturing to medical and healthcare. Additionally, as they offer resistance against temperature fluctuations, they are extensively used in products like automobiles, aircraft, ceramic tiles and glass windows which are impacted by temperature alterations as well as harsh climatic conditions. Apart from protecting against ultraviolet (UV) rays, nanocoatings are corrosion resistant which aids in increasing the lifespan and durability of metals products. This has resulted in the increasing demand for nanocoatings in the automobile industry for safeguarding paint surfaces. Looking forward, the market value is projected to reach US$ 14.5 Billion by 2024, expanding at a CAGR of around 18.6% during 2019-2024.

Market Summary:

Based on the product type, the market has been segregated into anti-microbial, anti-fingerprint, anti-fouling, easy to clean and self-cleaning coatings. At present, anti-microbial nanocoatings dominate the market, holding the largest share.

On the basis of the end user, the market has been classified into construction, food packaging, healthcare, electronics, automotive, marine, and others. Amongst these, the construction sector accounts for the majority of the total market share.

Region-wise, the market has been divided into Europe, North America, Asia Pacific, Latin America, and Middle East and Africa. Currently, North America is the leading market, holding the majority of the global share.

The competitive landscape of the market has been examined with some of the key players being BASF, Bio-Gate, Buhler, Nanogate, PPG Industries, AdMat Innovations, Cima NanoTech, CG2 NanoCoatings, Cleancorp, Ecological Coatings, Eikos, Inframat, Integran Technologies, Nanofilm, Nanomech, Nanovere Technologies, Nanophase Technologies, P2i, Surfix and Tesla NanoCoatings.

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