Anti-corrosion Nanocoatings Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2024
Corrosion
is increasingly becoming a major issue for owners of industrial
equipment and plants. Corrosion, which is mostly caused by a chemical
attack, can lead to significant industrial losses. Corrosion, in its
various forms, is estimated to cost the global economy US$3 Trn per
year. The presence of corrosive chemicals can result in deterioration of
a structure or equipment and is also a potential risk to personnel. It
may also lead to permanent structural failure, which can be deemed
costly in terms of repair. The corrosion phenomenon majorly affects
economies of industrial companies. However, with the advent of
innovative technologies, it is possible to eliminate corrosion in prior
stages through anti-corrosion nanocoatings. Anti-corrosion nanocoatings
consist of homogeneous thin films made up of alkoxides with chemically
attached nanoparticles. Corrosion and high temperature oxidation can be
reduced by coating materials made up of thin layer of chemically
resistant oxides. Such films are primarily suitable for metallic
surfaces. They offer various advantages such as low temperature
processing, high purity, and control of the composition.
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Nanocoatings
are materials manufactured by shrinking raw materials at the molecular
level to form a denser product. Nanocoatings are preferred over
traditional coatings due to their lower content of VOCs. Additionally,
nanocoatings offer characteristics such as resistance to scratch, UV,
and chemical; low maintenance; anti-corrosion; and color and gloss
retention. Nanocoatings are classified as anti-fingerprint,
anti-microbial, anti-fouling and easy-to-clean, self-cleaning (bionic
and photocatalytic) and others (specialty coatings, etc.).
Anti-microbial is a highly used nanocoating across various end-user
industries. Anti-microbial nanocoatings are employed in end-user
industries such as medical and health care, water treatment, food
manufacturing, and packaging. Anti-fouling and easy-to-clean
nanocoatings are also employed on a large scale in marine, food
manufacturing, automotive, and electronics industries, etc. The
anti-fingerprint nanocoatings segment is expected to expand
substantially in the near future due to the increasing demand in
electronics, automotive, and medical and health care industries. Other
types of nanocoatings are used in building & construction,
packaging, and textiles industries.
The
global anti-corrosion nanocoatings market is expanding owing to the
high demand in medical and automotive coatings industries. Growth in the
coatings sector, rising demand, and urbanization in BRIC countries has
been driving the global anti-corrosion nanocoatings market since the
last few years. Anti-corrosion nanocoatings are used in medical
equipment and implants. The medical and health care industry is likely
to expand significantly in the next few years. Energy and electronics
are high-growth end-users of anti-corrosion nanocoatings. This trend is
estimated to continue in the next few years. Furthermore, increase in
usage of anti-corrosion nanocoatings in automotive to retain color and
gloss of the surface is likely to drive the anti-corrosion nanocoatings
market in the near future. Demand for nanocoatings is high in the
building & construction industry, as they inhibit microbial growth,
mildew, and algae. Anti-corrosion nanocoatings are also used in food
manufacturing, packaging, textiles, and water treatment industries,
among others.
The
global anti-corrosion nanocoatings market is expected to witness
significant growth due to the ability of these nanocoatings to provide
high degree of adhesion and excellent chemical and abrasion resistance
to meet the regulatory requirement. North America and Europe are the
major markets for anti-corrosion nanocoatings, driven by the
implementation of stringent emission standards to comply with the
emission of volatile organic compounds (VOCs). Growth in the medical and
health care industry in North America is estimated to drive the
anti-corrosion nanocoatings market in the near future. Currently, the
demand for medical equipment and implant coatings is high in North
America. It is projected to rise owing to the increase in development in
technology. Asia Pacific is anticipated to be a rapidly growing market
for anti-corrosion nanocoatings in the next few years. Demand for
anti-corrosion nanocoatings is likely to increase in Asia Pacific due to
growth in automotive and electronics industries.
Key players operating in the anti-corrosion nanocoatings market include Buhler PARTEC GmbH, Nanogate AG, and P2i Ltd.
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