| A01734 | Pages: 225 | Apr 2022 | 12439 Views | ||
| Author(s) : Mamta Shivdasani, Arpita Kumari , Eswara Prasad | Tables: 176 | Charts: 79 |
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Pandemic disrupted the entire world and affected many industries.
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Request Now !The global nanocoatings market size was valued at $10.7 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030.
Emergence of COVID-19 outbreak negatively impacted nanocoatings market. This impact is mostly attributed to significant disruptions in raw material transportation and shutdown of the end-use industries, such as automotive, marine, aerospace, and construction, hence resulting in decline in demand for nanocoatings during this period.
Nanocoatings, also known as ceramic coatings are applied on a surface layer that repels water, dry particles, oil, and dirt. They can be found in both solid and liquid form and have properties, including anti-corrosion; scratch resistance, UV resistance, chemical resistance; and color & gloss retention. In addition, nanocoatings prevent painted surfaces from being damaged, which is caused by acid rain. Furthermore, nanocoatings are preferred over conventional coatings, due to lower volatile organic contents. Increase in usage of nanocoatings in electronics, automotive, marine, and building & construction applications drive the nanocoatings market growth. Moreover, nanocoatings, primarily anti-fingerprint coatings gain traction as they are widely utilized in oven display, dishwasher display, refrigerator, laptops, and mobiles, due to advancement and development in touch-based technology. Furthermore, growth in automotive industry along with continuous extensive research by various key players across the globe is expected to offers ample opportunities to the market players. However, high cost associated with nanocoatings compared to conventional surface coatings hinders the growth of the global nanocoatings market. The nanocoatings market is segmented on the basis of type, application, and region.
Depending on type, it is classified into anti-fingerprint, antimicrobial, self-cleaning (bionic & photocatalytic), anti-corrosion, conductive, and others. According to application, it is categorized into electronics, energy, food & packaging, construction, marine industry, automotive, healthcare, others. The electronics segment accounted for the highest market share in 2020, owing the wide adoption of nanocoatings in electronic devices & optics applications. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is dominating in the market in terms of demand for nanocoatings and is predicted to maintain its dominance over the projection period. Increase in adoption of nanocoatings in the region, owing to massive demand from the medical and automotive coatings sectors continue to boost the growth of nanocoatings market size.
The key players profiled in the report include Buhler AG, Nanogate AG, Nanophase Technologies Corporation, Bio-Gate AG, Admat Innovations, Surfix BV, Nanomech Inc., EIKOS Inc., CIMA Nanotech, and Duraseal Coatings Company LLC.
The other companies operating in the nanocoatings industry include Tesla Nanocoatings Inc., Inframat Corporation, Nanovere Technologies LLC, P2i Ltd., ACTnano, Nanofilm Ltd., and Integran Technologies Inc., Nanowerk, Nanovere Technologies, Nanoslic Protective Ceramic Coatings, Plasmatreat GmbH, and others. These companies compete for the share of the market through product launch, joint venture, partnership, and expanding the production capabilities to meet the future demand for the nanocoatings market during the forecast period.
North America occupies the largest part of the nanocoatings market. Growing demand for nanocoatings from myriad end-user industries such as marine, military and defense, healthcare, packaging, electronics, building and construction, and automotive in the region has stimulated the nanocoatings market growth. Moreover, the growth of automotive and construction sectors is bolstering the demand for nanocoatings in the region. The automotive sector, which includes the production of motor vehicles along with the aftermarket parts, generates a massive number of sales of passenger cars as well as commercial vehicles for the region with its production high levels. Consequently, these factors are expected to have a positive impact on the growth of the nanocoatings market.
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Self-Cleaning (Bionic & Photocatalytic) holds a dominant share during the forecast period. This growth is attributed to increased use of self-cleaning nanocoatings for building materials, marine, and household (primarily bathroom) sectors.
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Electronics segment is expected to be the most lucrative application for the nanocoatings. The demand for nanocoatings is increasing owing to consumer electronics requirements and their use in a wide range of electronic devices & optics applications.
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The COVID-19 crisis negatively impacted the overall nanocoatings market and supply chain. Turmoil of the supply and demand of raw materials, due to lockdowns and strict government laws hindered production, hence negatively affecting production facilities worldwide. Moreover, COVID-19 pandemic negatively impacted automotive sector, due to factors, including large-scale production interruptions in Europe, disruption in Chinese parts exports, and shutdown of assembly factories in the U.S. Furthermore, in 2020, global motor vehicle production declined by 15.4%from the previous year, due to travel restriction measures. Passenger cars experienced a more considerable decline in production than commercial vehicles, with decreases of 16.9 % and 11.6 %, respectively. Furthermore, ongoing construction projects suffered, owing to countrywide lockdowns, lack of labour, and economic slowdown. However, vaccination programs and lifting of lockdowns bolster the nanocoatings market growth.
Key benefits for stakeholders
Key Market Segments
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Increase in population, rise in construction industry, reduction in volatile organic contents, and rise in demand for nanocoatings from the automotive, electronics, medical, and healthcare industries are some of the key factors that drive the growth of the nanocoatings market. The use of nanocoatings witnessed a substantial growth in the past years, owing to their scratch resistance, self-cleaning, flame retardance, chemical resistance, UV resistance, and abrasion resistance properties.
Growth in construction activities along with surge in adoption of green buildings and infrastructures offers growth opportunities to the market players. Major companies are taking advantage of the novel properties of nanomaterials to develop energy-efficient construction. Moreover, owing to advancement and development in touch-based technology, nanocoatings primarily anti-fingerprint coatings gain traction, due to the fact that these coatings are widely utilized in oven display, dishwasher display, laptops, refrigerator, and mobiles.
Moreover, growth in automotive industry coupled with growing adoption of abrasion, chemical, UV, and scratch resistant products by the automotive industry is propelling the demand for nanocoatings. For instance, according to India Brand Equity Foundation, domestic automobiles production in India increased at 2.36% CAGR between FY16-20 with 26.36 million vehicles being manufactured in the country in FY20.
North America is the dominating regional market for the nanocoatings market, owing to increase in construction activities and growth in industrial sector. Further, easy availability of raw materials in the region drive the nanocoatings market growth during the forecast period.
A. Rapid shift in the demand for nanocoatings instead of polymer coatings and rising demand for nanocoatings from the automotive, construction, electronics, medical, and healthcare industries are the key factors boosting the growth of nanocoatings market.
A. The growth in construction activities along with increasing adoption of green buildings and infrastructures worldwide offers lucrative growth opportunities for the nanocoatings market.
A. The most established players of the global nanocoatings market are Buhler AG, Nanogate AG, Nanophase Technologies Corporation, Bio-Gate AG, Admat Innovations, Surfix BV, Nanomech Inc., EIKOS Inc., CIMA Nanotech, and Duraseal Coatings Company LLC.
A. Depending on type, it is classified into anti-fingerprint, antimicrobial, self-cleaning (bionic & photocatalytic), anti-corrosion, conductive, and others. According to application, it is categorized into electronics, energy, food & packaging, construction, marine industry, automotive, healthcare, others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
A. Based on type, self-cleaning (bionic & photocatalytic) segment is anticipated to hold the largest share of the nanocoatings market during the forecast period.
A. Based on application, electronics segment is anticipated to hold the largest share of the nanocoatings market during the forecast period.
A. Due to the COVID-19 outbreak, there were substantial disruptions in raw material transportation and the shutdown of the end-use industries, hence resulting in a reduction in demand for nanocoatings during this period. However, the introduction of vaccination programs, lifting of lockdowns, and the scope of the use of nanotechnology to produce antiviral drugs and materials are anticipated to have a positive impact on the global nanocoatings market growth during the COVID-19 pandemic period.
A. North America region is anticipated to dominate the nanocoatings market during the forecast period.
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