Nanocoating's, also recognized as ceramic coatings, are applied as a surface layer to repel water, dry particles, oil, and dirt. Available in both solid and liquid forms, they possess diverse properties such as anti-corrosion, scratch resistance, UV resistance, chemical resistance, and retention of color and gloss. Moreover, nanocoating serve to safeguard painted surfaces from damage caused by acid rain.
The preference for nanocoating's over conventional alternatives stems from their lower volatile organic content. The burgeoning adoption of nanocoating's across electronics, automotive, marine, and building & construction sectors propels market expansion. Particularly, anti-fingerprint nanocoating's witness increased demand, notably in appliances such as oven displays, dishwasher displays, refrigerators, laptops, and mobile devices, driven by advancements in touch-based technologies.
The growth of the automotive industry, coupled with ongoing extensive research by key players globally, presents abundant opportunities for market participants. Nonetheless, the comparatively higher cost of nanocoating's vis-à-vis conventional surface coatings acts as a deterrent to the global nanocoating's market's growth trajectory. The market segmentation is based on type, application, and geographical region.
Over the past decade, notable advancements have occurred in sustainable building technologies, with an emphasis on environmental sensitivity. Green building practices, which prioritize sustainability, are incorporating nanotechnological applications, particularly in energy conservation, waterproofing, corrosion resistance, and the utilization of volatile organic compound (VOC)-consuming nanocoating's. Companies like Saflex and 3M offer nanofilms for use in windows and glass installations in green buildings, which absorb thermal energy and mitigate heat transfer into the building interior.
Nanocoating's represent pivotal materials capable of revolutionizing insulation methodologies due to their molecular-level structure. Compared to traditional insulation materials like fiberglass and polystyrene, nanocoating's exhibit superior efficiency and effectiveness. Even when applied in minute thicknesses, the air-trapping properties of the molecular structure can yield significant insulation benefits. Therefore, the increasing adoption of green infrastructure is anticipated to bolster the growth of the global nanocoating's market in the forecast period.
On the basis of Type, nano coatings market is sub-segmented into medical & healthcare, food manufacturing, packaging, marine, water treatment, electronics, building & construction, automotive, energy, and other niche applications including textile, leather, and industrial engineering. Healthcare holds the majority share of the nano coatings market because of its anti-microbial and anti-fingerprinting properties. These properties are essential for the medical implants and equipment. Increased use of coatings in electronics due to it being chemical, UV and scratch resistance, anti-corrosion, low maintenance, gloss, and color retention is expected to boost further nanocoatings market demand. Growth of automobile industry is expected to fuel demand for nanocoatings used in color and gloss retention.
On the basis of Application, Global market is sub-segmented into anti-fingerprint, anti-microbial, anti-fouling & easy-to-clean, self-cleaning and other nanocoating’s. Anti- microbial has wide range of applications in packaging, food manufacturing, water treatment and healthcare sectors. The use of anti-microbial segment in such applications has resulted in it becoming one of the growing segments during the forecast. Anti-fouling & easy-to-clean coatings are also expected to provide a boost to this market because of their increasing use in electronics, automotive, marine and food manufacturing. Anti-fingering coatings are expected to dominate the market during the forecast period due to its extensive list of applications in healthcare and electronics sector. The growth of healthcare and electronics sector is expected to provide a boost to this segment during the forecast period.
Market players focus on growth strategies, such as new product launches, collaborations, partnerships, operational expansion, mergers & acquisitions, and patient awareness campaigns. Companies operating the target market can focus on partnerships and collaborations, in order to develop advanced products which in turn create lucrative growth opportunities. Few of the important market players include Biogate AG, Buhler Partec GMBH, CIMA Nanotech Inc, Eikos Inc, Inframat Corporation, Integran Technologies Inc, Nanofilm Ltd, Nanogate AG, Nanophase Technologies Corporation and Nanovere Technologies LLC.
By Region, North America captured the largest market share of the global nano coatings market in 2019. The large share of this market is largely attributed to the advanced healthcare facilities in the region. Nano coatings are a popular choice for medical implants and devices because of their anti-microbial properties. On the other hand, the Asia Pacific region is expected to grow at the highest CAGR during the forecast period due to the increasing demand for automobile, especially in countries such as India and China. Increasing healthcare expenditure are other major factors expected to boost growth of the market in the region over the forecast period.
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