Global Smart Coatings Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Smart Coatings Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global smart coatings market report has been segmented on the basis of type of sensing, function, number of layers, end-use industry, and region.
Global Smart Coatings Market: Overview
Smart coatings are special films enables to sense and respond to environmental and other external stimuli. Technological development such as conductive materials, nanotechnology, self-healing and self-assembling system, and micro-encapsulation enhance their functionalities. Self-healing and self-repair properties make material suitable for corrosion protection, material protection, and other applications.
Global Smart Coatings Market: Dynamics
Increasing demand for smart coatings from various end-use industries such as construction, automotive, aerospace, military, and healthcare, owing to its features such as improve damage or scratch resistance, gives aid to anti-fogging, flame retardance, and protect coloring is a key factor expected to drive growth of the global market over the forecast period.
In addition, technological advancements in smart coatings such as self-healing, self-cleaning, and corrosion resistance are some other factors resulting in increased demand from automotive and aerospace industry, majorly for exterior applications. This factor is expected to further fuel growth of the target market over the forecast period.
Moreover, rising demand for smart coating across various industries as it is being used for both protective and decorative purposes and it also act as a barrier for packaging film are some other factors expected to boost growth of the target market over the forecast period.
Furthermore, smart coating mitigate maintenance challenges in aerospace industry is another factor expected to propel growth of the target market over the forecast period.
However, high raw material costs and environmental regulations are major factors expected to restrain growth of the global market over the forecast period. In addition, increasing development of eco-friendly coating is another factor expected to hamper growth of the target market over the forecast period.
Innovative product launches, development of advanced technology, and rising investment for research and development activities by manufacturers operating in the global market are expected to create potential revenue opportunities for player operating in the target market over the forecast period.
Global Smart Coatings Market: Segment Analysis
Among the number of layer segments, the multi-layer segment is expected to register significant growth in terms of revenue over the forecast period, owing to increasing applications of multi-layered coatings for surface protection and exterior applications in automotive, and aerospace industry.
Among the end-use industry segments, the construction segment is expected to dominate in the global market, owing to increasing demand for smart coatings across various end-use industries.
Global Smart Coatings Market: Regional Analysis
The market in Europe followed by North America is expected to dominate in the global market in terms of revenue over the forecast period, owing to presence of major players of coating materials and rising investments for research & development for the development of innovative coating options by manufacturers in countries in this region. Moreover, technological advancements in the field of nanomaterials along with innovative product launches is another factor expected to support growth of the global market in these regions.
The market in Asia Pacific is expected to register highest growth in terms of CAGR, owing to increasing vehicle production rate across emerging economies such as India, China, Indonesia, and Malaysia in this region.
Global Smart Coatings Market Segmentation:
Segmentation by type of sensing:
- Ionic strength
- Temperature pressure
- Surface tension
- Magnetic field
- Mechanical forces
Segmentation by function:
Segmentation by number of layers:
- Single layer
Segmentation by end-use industry:
- Consumer electronics
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Akzo Nobel Inc.
- PPG Industries, Inc.
- Axalta Coating Systems Ltd.
- The Sherwin-Williams Company
- Jotun A/S
- RPM International Inc.
- Hempel A/S
- NEI Corporation
- Dow Silicones Corporation
- 3M Company
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