Nanocoatings Market to Surpass US$ 49.4 Bn by 2028

Definition of Market/Industry:

Nanocoatings are products coated with nanomaterials by a layer of thickness in the range of 10-9 m. Nanocoatings offers weather resistance properties in order to prevent damages on the coated surfaces. They are widely used across energy, food & packaging, electronics, aerospace, construction, military & defense, automotive, the marine industry, and healthcare.

Market Statistics:

The global nanocoatings market is expected to surpass US$ 49,415.3 Mn in terms of value by the end of 2028.

Drivers:

Growing strict VOC emission rules and regulations is augmenting market growth of the nanocoatings. Nanocoatings do not contain VOC compound and other toxic chemicals. Growing strict emissions regulations in order to reduce the VOC content is again propelling the market growth of the nanocoatings. For instance, the European Union has lowered the VOC content limit for coatings, resulting in a major concern for manufacturers. Thus growing implementation of such strict emissions rules are projected to foster market growth of the nanocoatings.

Market Opportunities

Rising demand for nanocoatings from emerging countries such as India and China is expected to offer lucrative growth opportunities in the nanotechnology market in the near future. Growth in the manufacturing sectors such as automotive, electronics, and buildings & construction is driving demand for nanocoatings in the region. Properties such as wear, heat, UV, scratches, fouling, incorporated in the single coated surface is leading to high demand from these regions. Thus growing demand for nanocoatings from emerging India and China are projected to propel the market growth.

Global Nanocoatings Market: Recent Developments

In June 2020, Onyx Coating Launch the First N1 Nano Coating Product. This ultra-hard 10H ceramic coating product is engineered to provide N1 smoothness level and last for a lifetime.

In March 2019, Nano-C announced that it has acquired the core patents from Eikos, Inc. that govern the use of single-walled carbon nanotube (SWCNT) in transparent conducting films for use in Displays, Touch Screens, and related applications.

Market Restraints

Health concerns associated with the nanocoatings as certain nanomaterials can induce mesothelioma and leads to development of rapid and persistent pulmonary fibrosis is hampering product demand. Moreover, nanomaterials can migrate along the olfactory nerve into the brain which can cause problems associated with the nervous system. This factor is projected to hinder the market growth of the nanocoatings in the near future.

Global Nanocoatings Market - Impact of Coronavirus (Covid-19) Pandemic

The Covid-19 outbreak has had an adverse impact on various industries around the globe. Due to the strict rules and regulations undertaken by government to curb the spread of the infection, companies are looking to function remotely. Moreover, various companies are looking to implement strict measures to operate at minimum risks. Additionally, various companies had shutdowns their manufacturing units which had an adverse impact on nanocoatings market.

To know the latest trends and insights prevalent in the Global Nanocoatings Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/nanocoatings-market-483

Key Takeaways:

The global nanocoatings market was valued at US$ 8,425.9 Mn in 2020 and is forecast to reach a value of US$ 49,415.3 Mn by 2028 at a CAGR of 24.7% between 2021 and 2028.
The Medical & Healthcare segment was valued US$ 1,309.5 Mn in 2020 and is expected to witness a CAGR of 25.4% over the forecast period. Increasing usage of anti-microbial nanocoatings and anti-fingerprints coatings owing to their differentiating properties are being extensively used in patient care facilities.

Figure 1. Global Nanocoatings Market Share, By End User, 2020

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Market Trends

Continuous product innovation by key manufacturers is an emerging trend in the market. For instance, in June 2020, Onyx Coating announced the launch of the First N1 Nano Coating Product in the World. This ultra-hard 10H ceramic coating product is engineered to provide N1 smoothness level and last for a lifetime. This coating products guarantee complete interior and exterior enhancement and protection. The product range includes external ceramic coatings, interior fabric, and leather coatings, and paint preparation wax and silicone removers of the highest quality.

Anti-microbial coatings are gaining traction in the market. They are majorly used in packaging, food manufacturing, water treatment, and medical & healthcare applications. Anti-microbial coatings provide protection against microorganisms and due to this, they are projected to gain significant growth over the forecast period. Thus, robust growth in the above-mentioned industries is expected to augment the market growth of the anti-microbial coatings which in turn is propelling the market growth over the forecast period.

Competitive Section:

Company Names