The global market for smart
coatings should grow from $2.9 billion in 2018 to $8.6 billion by 2023,
with a compound annual growth rate (CAGR) of 24.3% for the period of 2018-2023.
Smart coatings are coatings that respond to the environment. They respond to external stimuli such as dirt, light, pH changes, temperature, impact, and fatigue. For instance, in aerospace, smart coatings can indicate damage to a gas, an oil or aero engine.
Smart coatings are used in an array of end-use industries such as building and construction, automotive, military, marine, electronics, aerospace and defense healthcare, and others (others include marine, power, textiles, oil and gas, and food processing). Based on region, the market is divided into Asia- Pacific, North America, Europe, South America and Middle East and Africa. The report covers market drivers, restraints, opportunities and challenges that determine the scope of the market and its trends.
The smart coating is a booming industry and market has grown significantly during the past few years. In the next five years, it is expected to grow even more rapidly. The market has continued to expand, and new technological developments and industry changes also have taken place. A broad range of global end-use industries such as consumer electronics, aerospace and automotive will increase market demand. The superior properties of smart coatings are key factors driving growth of the smart coatings market. Also, the rapidly rising demand for self-healing coating for automotive exterior applications should also drive demand. However, the high cost of this multifunctional coating could hamper the
market’s growth during the forecast period.
Sales of smart coatings products are projected to continue growing at a healthy rate during the next five years, driven by increasing demand for rearview mirrors, engine components, self-healing glass and smart windows in the automotive sector; flexible insulators, smartphones, and stretchable wearables in the consumer electronics sector; self-healing concrete, smart glass, and self-healing road surfaces for the construction sector; and wind energy, solar panels, and gas turbine coatings for power in the energy sector.
Other relevant factors that will positively affect the future expansion of the smart coatings market are as following:
– Overall improvement in global real estate and construction markets.
– Expansion of the green building sector.
– Increasing electronic content in the automobile, aerospace and marine sectors.
– Development of materials with advanced properties, such as faster switching rates.
– Introduction of new materials and fabrication methods suitable for mass production, which will also lead to reduced production costs.
– Greater market penetration of smart coating products in developing countries.
The scope of the report covers the overview of the global market for smart coatings and analyses of the global market trends, with data from 2016, considering base year of 2017 and estimates for 2018 and 2023 with projection of CAGR in the forecast duration. The sales values are presented in US dollars, while volumes are presented in kilotons units. Estimated values used are based on manufacturers’ total revenues. Projected and forecasted revenue values are in constant U.S. dollars, unadjusted for inflation.
The report includes discussion of technological and economic trends that are affecting the market. Further, it explains the major drivers and regional dynamics of the smart coatings market and current trends within the industry.
This report categorizes the global smart coatings market based on layer, function, end-use industry and region. On the basis of layers, the smart coatings market is divided into multi-layer and Single layer. Based on function, the smart coatings market is divided as anticorrosion, self-healing, self-cleaning, anti-icing, anti-fouling, anti-microbialand others (includes anti-fog, superhydrophobic, and self-dimming). On the basis of end-use industry, the market is divided into building and construction, automotive, aerospace, military, healthcare, consumer electronics, and others (includes marine, oil and gas, food processing, power, and textile). On the basis of region, the market is divided into North America, Asia-Pacific, Europe, South America, and Middle East and Africa.
The report concludes with a special focus on the vendor landscape and includes profiles of the major market players operating in the global smart coatings market.
– 71 data tables and 23 additional tables
– An overview of the global market for smart coatings
– Analyses of global market trends, with data from 2017, 2018 and projections of CAGRs through 2023
– Discussion of properties of smart coatings such as scratch resistance, strong acid resistance, high optical transmission, thermal stability and in-situ healing
– Explanation of the major advantages of smart coatings such as increased ease of maintenance, easy-to-clean, good adhesion, and dirt-repellent
– Company profiles of major players in the market, including The Dow Chemical Co., PPG Industries Inc, The Sherwin-Williams Co., 3M, and AkzoNobel N.V
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