Nanocoatings Market to Expand with Significant CAGR During 2024
The
global nanocoatings market was valued at US$ 4976.2 Mn in 2017 and is
anticipated to expand at a CAGR of 20.8% from 2018 to 2026, according
to a new report titled ‘Nanocoatings Market: Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’
published by Transparency Market Research (TMR) The global
nanocoatings market is primarily driven by the high growth of
end-user industries.
Read
Report Overview @
Expansion
of End-user Industries to Drive Market
Nanocoatings
are employed in end-user industries such as construction, energy,
aerospace, marine, electronics, food & packaging, health care,
and marine to protect structures from corrosion. Growth in end-user
industries is boosting the demand for nanocoatings owing to their
superior performance. The residential and non-residential
construction sector in the U.S. expanded significantly in 2017. This
trend is likely to continue during the forecast period. The
residential construction sector in the U.S. experienced year-on-year
growth of 10.52% and 10.58% in 2016 and 2017, respectively. The
non-residential construction sector in the country expanded at a CAGR
of 7.71% from 2015 to 2016. Health care, commercial, and office
buildings sectors also expanded at a rapid pace during the period.
The housing market in the U.S. is estimated to expand at a rapid pace
behind that in India, Myanmar, and Vietnam. New York, Houston, Los
Angeles, and Chicago are projected to account for 20% of the
construction output in the U.S. by 2026. The average price of a house
in the country is likely to reach US$ 308,000 by 2030, an increase of
75%. India is projected to have the third largest construction
industry in the world by 2026. The construction industry in the
country is expected to expand rapidly till 2026. The U.K is
anticipated to have the sixth largest construction industry in the
world and the largest construction industry in Europe by 2026. It
plans to build 3.3 million houses over the next 15 years to meet the
needs of its growing population.
Request
to view Sample Report:
Superior
Properties Propel Demand
Nanocoatings
are extensively employed across various industries, as these create a
strong and permanent bond between two surfaces. These materials have
high shear and tensile strength. They join substances of different
geometrics, sizes, and compositions. Nanocoatings prevent corrosion
when coated on metals. They do not produce any deformation in
materials by eliminating the metal grinding process. Nanocoatings do
not produce any mechanical aggression on the substrate and avoid
damage to the structure of the material. They improve flexibility in
product design and esthetics. Nanocoatings provide sealing and
protection against corrosion.
Hazards
to Environment and Health to Hamper Market
VOC
emissions that take place during the usage of nanocoatings pose a
threat to the environment. Several countries have set guidelines
restricting the amount of VOCs emitted during the usage of
nanocoatings in industries. Manufacturing operations are bound by
rules and regulations with respect to evaluation, registration,
storage, usage, handling, and transportation of certain substances
and their emissions, effluents, and other wastes. Violation of such
regulations is expected to lead to legal obligation in future
business activities.
These
environmental regulations restrain the demand for nanocoatings in
residential and non-residential construction. Violation of government
regulations can result in heavy penalties and losses. Rapid
industrialization and urbanization have increased air pollution. This
affects the health of people across the globe. Several developing and
developed countries are facing pressure from domestic and
international regulatory bodies to formulate regulations to control
VOC emission in order to reduce pollution.
Request
for TOC @
Anti-fingerprint
Segment to Dominate Global Nanocoatings Market
Anti-fingerprint
nanocoatings are primarily used in electronics, medical & health
care, and automotive sectors. They offer protection from scratches,
contamination, and fingerprint smudges. Anti-fingerprint nanocoatings
also offer surface protection to metals. The anti-fingerprint segment
is estimated to expand during the forecast period, led by the
increase in demand for electronic devices such as smartphones.
North
America Dominates Global Nanocoatings Market
Based
on region, the global nanocoatings market has been segregated into
North America, Europe, Asia Pacific, Middle East & Africa, and
Latin America. North America led the global market in 2017. The
market in North America is projected to expand due to the presence of
leading manufacturers in the region. Expansion in power generation
and automotive industries is likely to boost the demand for
nanocoatings in North America. Asia Pacific is anticipated to be a
highly attractive region in the near future, owing to the growth in
automotive, electronics, and construction industries. The
nanocoatings market in China has been expanding at a rapid pace, as
various global manufacturers are shifting their production facilities
of nanocoatings to the country. Expansion in the power generation
sector in emerging economies is also driving the demand for
nanocoatings in the country.
Demand
for nanocoatings in Latin America and Middle East & Africa is
anticipated to rise at a rapid pace during the forecast period. In
terms of value, the market in these regions is estimated to expand
significantly between 2018 and 2026, owing to the growth in the
automotive industry, which is a major consumer of nanocoatings.
High
Degree of Competition among Market Players
High
degree of competition exists among players operating in the global
nanocoatings market. The market is dominated by large players and is
moderately consolidated. These key players include Bio-Gate AG,
Buhler PARTEC GmbH, Cima NanoTech Inc., Eikos Inc., Inframat
Corporation, Integran Technologies Inc., Nanofilm Ltd., Nanogate AG,
Nanophase Technologies Corporation, and Nanovere Technologies LLC.
Comments
Post a Comment