Wilmington, Delaware, United States, June 15, 2022 (GLOBE NEWSWIRE) -- Following a global market study on nanocoatings, the said market is estimated to cross a valuation of US$ 73.5 Bn by the end of 2031, finds TMR. Nanocoatings find copious specialized industrial applications such as corrosion resistance for gas and chemical pipelines, waterproofing for textiles, and UV resistance for glass among others.
Despite being relatively new among other coatings, demand for nanocoatings is rising rapidly due to its specialized properties. Nanocoatings enhance properties of substrate with respect to corrosion resistance, abrasion and wear resistance, anti-fouling, fingerprint and scratch resistance, anti-microbial, thermal and UV resistance, and conductivity. This substantiates nanocoatings to have become integral part of several industries such as aerospace, electronics, energy, and automobile that require protective properties for long lasting durability.
The selection of nanocoatings varies from industry to industry. For example, the automotive sector uses anti-corrosion and anti-fouling coatings that provide wear and abrasion resistance, anti-fouling, and corrosion resistance. Besides this, nanocoatings provide high gloss and self-cleaning ability to automobile surfaces.
Asia Pacific nanocoatings market is projected to expand at the fastest pace at a CAGR of 22.3% during the forecast period.
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Nanocoatings Market – Key Findings of the Report
- Significant investments for R&D of new products is a promising development in the nanocoatings market. The launch of a new hybrid nanocoatings system that utilizes 3D nano-structured polymers to manufacture high crosslink density coatings for protecting commercial and industrial equipment is a case in point.
- Partnerships and collaborations for launch of new products are ongoing trends in the nanocoatings market. For instance, in August 2017, Carbodeon – a nanodiamonds material specialist partnered with metal finishing specialist CCT Plating to create a new nanodiamonds enhanced electroless nickel plating that significantly improved performance in sliding applications.
- Nanoparticles of active elements such as zinc, copper, and silver are used to make anti-bacterial nanocoatings. Due to the property of these nanoparticles to provide protection against bacteria, the demand for anti-microbial nanocoatings has been rising in various industries and for domestic use. Anti-microbial nanocoatings are being used on walls, furniture, flooring, decorative pieces, and electronic appliances for protection against microbes.
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- Health care end-use segment held a key share of nanocoatings market in 2021. The segment is projected to register a CAGR of 30.6% during the forecast period. Precautionary measures taken by hospitals to prevent the spread of infection accounts for substantial demand for antimicrobial coatings for coating walls, medical devices, and tools.
- Automobile and construction stood as other key end-use segments of nanocoatings market in 2021, and are anticipated to continue to remain lucrative during the forecast period.
- Bionic and photocatalytic self-cleaning nanocoatings jointly held nearly 60% share of nanocoatings market in 2021. Of the two, photocatalytic type coatings held more than 85% share of self-cleaning nanocoatings in 2021. Automobile, aerospace, energy, architecture, and marine are some end users of photocatalytic coatings.
- North America stood as a key region with a share of 33.73% in the nanocoatings market in 2021. Significant rise in applications of nanocoatings in automobile, aerospace, marine, and construction account for substantial share of North America in the nanocoatings market.
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Nanocoatings Market – Growth Drivers
- Rapid rise in demand for nanocoatings for several industrial applications due to their specialized properties drives nanocoatings market
- Superior characteristic to enhance properties of substrates substantiates market demand for nanocoatings across several end-use industries
Nanocoatings Market – Key Players
Some of the prominent players operating in the nanocoatings market are;
- Bio-Gate AG
- Cima NanoTech Inc.
- Inframat Corporation
- Nanofilm Ltd.
- Nanophase Technologies Corporation
- Buhler PARTEC GmbH
- Eikos Inc.
- Integran Technologies Inc.
- Nanogate AG
- Nanovere Technologies LLC
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The nanocoatings market is segmented as follows;
Nanocoatings Market, by End-user
- Healthcare
- Aerospace
- Automotive
- Textiles
- Construction
- Electronics
- Food & Packaging
- Energy
- Marine
- Others
Nanocoatings Market, by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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