Nanocoatings Market

Nanocoatings Market Outlook - 2021–2030

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.

Nanocoatings Market, By Region

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.

Global Nanocoatings Market, By Type

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.

Global Nanocoatings Market, By Application

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.

COVID-19 Analysis:

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

• This report provides a detailed quantitative analysis of the current nanocoatings market trends and estimations from 2020 to 2030, which assists to identify the prevailing opportunities.
• An in-depth analysis of nanocoatings market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
• A comprehensive analysis of the factors that drive and restrain the growth of the market is provided.
• Region-wise and country-wise market conditions are comprehensively analyzed in this report.
• The projections in this report are made by analyzing the current trends and future market potential from 2021 to 2030 in terms of value.
• An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
• Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global nanocoatings market.

 Nanocoatings Market Report Highlights