Nanocoatings Market Size Expected to Reach $20.1 billion by 2030

According to a new report published by Allied Market Research, titled, "Nanocoatings Market by Type And Application: Global Opportunity Analysis and Industry Forecast, 2020-2030,"

The global nanocoatings market 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.

Nanocoatings are applied to surfaces to create or improve a  functionalities of material, including water & ice protection, corrosion protection, friction reduction, self-cleaning, antifouling & antibacterial properties, heat & radiation resistance, and thermal management. These coatings provide advantages for applications in  medical, defense, aerospace, marine, and oil industries, driving manufacturers to incorporate multi-functional coatings in their products.

Rapid increase in world population; surge in the income level; and rise in demand for nanocoatings from the automotive, electronics, medical, and healthcare industries are the key factors that drive the global nanocoatings market. In addition, surge in  awareness about infections from several surrounding objects and hospital-acquired infections (HAI), rapid shift in the demand for nanocoatings instead of polymer coatings positively impact the nanocoatings market growth. Furthermore, growth in construction activities along with surge in adoption of green buildings and infrastructures offers growth opportunities to the market players.. Therefore, numerous key players in construction sector are adopting nanotechnology for sustainable construction. Furthermore, companies are taking advantage of the novel properties of nanomaterials to develop cleaner and energy-efficient construction. Nanocoatings prevent condensation and misting, keeping glass and other surfaces clean and aid to decompose pollutants, including nitrogen oxide. Moreover, they can enhance the energy footprint of the building. According to application, the electronics segment generated the highest revenue in 2020 and is expected to remain dominant throughout the forecast period. This is attributed to the growth in adoption of nanocoatings in electronic devices & optics applications.

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, 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, such as 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 compete for the share of the market through product launch, joint venture, partnership, and expanding the production capabilities to meet the demand for the nanocoatings market during the forecast period.

Impact Of Covid-19 On Global Nanocoatings Market

• 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.
• However, nanotechnology can be used as an essential avenue to produce antiviral drugs and materials. Thus, nanocoatings can be used to effectively reduce acquired infection of COVID-19 in public places such as transport, hospitals, schools, stores, worship places, malls, etc. The antimicrobial nanocoatings at these places and production of targeted antiviral drugs through capped nanoparticles is likely to be a significant efficacious option to combat the COVID-19 pandemic. Therefore, it is anticipated to have positive impact on the global nanocoatings market growth during the COVID-19 pandemic period.

Key Findings of Study

• By region, North America accounted for the largest market share in 2020.
• By type, the self-cleaning (bionic & photocatalytic) segment held the largest market share in 2020.
• By application, the electronics segment held the largest market share in 2020.