Global Nanocoatings Market Share Likely to Grow At a CAGR of 6.85% By 2030

According to Custom Market Insights (CMI), the global Nanocoatings market size was valued at USD 12.7 billion in 2021 and is projected to reach a value of USD 25.1 billion with growth at a CAGR of 6.85% by 2030.

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Nanocoatings are also identified as ceramic coatings and exist in both liquid and solid forms. Generally, nanocoatings are ultra-tiny layers of material and chemicals that help in protecting the painted surfaces from external factors such as dust, dirt, corrosion, and others. Nanocoatings possess various properties such as it is resistant to corrosion, scratch, chemical, UV, color, and gloss resistance. Owing to these properties it has a wide range of applications in various end-use industries that include automotive, textile, building & construction, aerospace, food packaging, and others.

Browse the full “Nanocoatings Market Size, Trends and Insights By Type (Anti-fingerprint, Antimicrobial, Self-cleaning (Bionic & Photocatalytic), Anti-corrosion, Conductive, Others), By Application (Building & Construction, Automotive, Aerospace, Electronics, Textile, Food & Packaging, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share Outlook, and Forecast 2022–2030” report at https://www.custommarketinsights.com/report/nanocoatings-market/

Regional Snapshots

Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America is the dominant region in the nanocoatings market. This region is also anticipated to maintain its dominance throughout the forecast period. Countries such as the U.S., Canada, and Mexico have significant contributions to the growth of the nanocoatings market in the region.  Key factors for the growth in the North American region are growing nuclear power plants, automotive, electronics, medical, army, defense sectors, and other end-use industries where nanocoatings are used as antimicrobial, self-cleaning, antifouling, anti-corrosion, and others.

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Furthermore, The Europe region has shown considerable growth due to the strong presence of top automobile manufacturers such as BMW, Mercedes-Benz, Porsche, Audi, and Volkswagen that are consistently adding value by producing desirable and attractive cars where anti-corrosion and conductive nanocoatings are used in sealing systems to enhance the aerodynamics of vehicles in Europe region which is driving the nanocoatings market growth during the forecast period.

Market Dynamics

Growth Drivers

Furthermore, proliferating growth of the automotive sector has witnessed the significant growth of the nanocoatings market. The growing adoption of automotive displays, human-machine interface, and automated systems are being embedded in luxurious cars by several key manufacturer players including TATA Motors, Mahindra, Hyundai, Tesla, Ford, Audi, and others. The nanocoatings are majorly employed for longer durability, self-healing, hardness, and self-cleaning applications. These coatings possess various properties such as thermal insulation, anti-fingerprint, resistant to corrosion, and others. Thus, the growth of the automotive sector will drive the demand for nanocoatings in the upcoming years.

Restraints

However, the lack of skilled labor is restricting the expansion of the global nanocoatings market during the forecast period. Furthermore, the logistics and supply chain interface, government norms and regulations on export and import activities are restraining factors for the nanocoatings market. In addition, the manufacturing process involves the inclusion of nanoparticles that includes carbide, ceramics, nitrides, and others. Furthermore, high production costs and the requirement for advanced machinery will slow down the market.  On the other hand, manufacturers are switching to the alternative substitute for nanocoatings due to high production costs and rising prices of raw materials.

Opportunities

Increasing demand from the building & construction sector acts as one of the key factors responsible for the growth of the global nanocoatings market. The nanocoatings are preferred over conventional coatings material due to their low volatile organic content. Nanocoatings are used extensively in the construction sector as it is resistant to corrosion, scratch, chemical spill, and others.

For instance, according to an article published by Invest India in the year July 2022, the construction industry is expected to reach $1.4 trillion by 2025. In response to this, photolytic and hydrophobic nanocoatings are used predominantly in the building infrastructure for protecting them against corrosion, paints, acid rains, chemical spills, UV radiation, and others. These factors are anticipated to increase the demand for nanocoatings in the construction sector; thus, creating remunerative opportunities for the market.

Challenges

Over the forecast period, nanocoatings are new to the market and gaining an edge over completion may be challenging factor. In addition, rising prices of raw materials and high installation costs for nontechnology may act as one of the challenging factors in the nanocoatings market.

Report Highlights

On the basis of type, the segment includes anti-fingerprint, antimicrobial, self-cleaning (bionic & photocatalytic), anti-corrosion, conductive, and others. The self-cleaning segment dominated the market in 2021 and is expected to grow over the forecasted period. Self-cleaning (bionic & photocatalytic) nanocoatings do not possess any harm and thus, help in controlling the pollution in the environment. Self-cleaning types are further segregated into bionic and photolytic. The bionic type of nanocoatings is extensively used in the building materials, automotive, electronics, medical devices, and household (primarily in the bathroom) sectors whereas, photolytic nanocoatings are used in wooden furniture to protect the wood from fungal infection especially caused due to Aspergillus Niger.

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On the basis of application, the segment includes building & construction, automotive, aerospace, electronics, textile, food & packaging, and others. Building & construction dominates the nanocoatings market and is expected to remain the dominant segment during the forecast period.

Nanocoatings are considered a high-performance material that is widely employed in construction activity for protecting the infrastructure from UV radiation, sunlight, corrosion, and other factors. Mainly photocatalytic and hydrophobic coatings are used in buildings & exteriors to protect the substrate from UV radiations and moisture. These factors are escalating the growth of the nanocoatings market.

Report Scope

Recent Developments

• ACTnano has launched a new product named Titan, a revolutionary new coating unlike any other electronics protection available in the industry today. This strategic product launch has enhanced the product portfolio of ACTnano’s nanocoatings in the North America region, during August 2021.
• Teslananocoatings Inc. has launched a new technology combining carbon nanotubes for the worker’s safety that is protected under the brand name nanoGUARD and secured for 1.2 million vehicles. This strategic product launch has widened Teslananoctongs’ product portfolio in the market during, January 2021.

Segments covered in the report

By Type

• Anti-fingerprint
• Antimicrobial
• Self-cleaning (Bionic & Photocatalytic)
• Anti-corrosion
• Conductive
• Others

By Application

• Building & Construction
• Automotive
• Aerospace
• Electronics
• Textile
• Food & Packaging
• Others

By Geography

• North America
  • The USA
  • Canada
  • Mexico
• Europe
  • The UK
  • Germany
  • France
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Malaysia
  • Philippines
  • Rest of Asia-pacific
• Latin America
  • Brazil
  • Rest of Latin America
  • Middle East and Africa
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa