New York, NY -- (SBWire) -- 02/25/2021 --The Global Smart Coatings market is forecasted to reach USD 10.32 Billion by 2026, according to a new report by Reports and Data. Smart coatings are preferred among others owing to the development of new technologies that enhance their functionalities. Such technologies are conductive materials, nanotechnology, self-healing and self-assembling system, and micro-encapsulation, as they give coatings the capabilities beyond protection and aesthetics.
Introduction of advanced technologies in smart coatings such as self-healing and self-cleaning are being utilized by the end users to provide coating options to their customers. Application of nanotechnology-based coatings is expected to reduce the cost of the coating solution, improve damage or scratch resistance, gives aid to anti-fogging, flame retardance and protect coloring, hence boosting the growth of smart coating market. Smart coating is gaining popularity as it is being used for both protective and decorative purposes. It is used to indicate damage on, engine or oil gas platform, or in aircraft to reduce weight. It could also be used as a barrier for packaging film and also as transparent and moisture ingress. Due to its various applications, it is also used in sectors like hospitals, aerospace, and military among others. Owing to the advanced application of smart coatings, consumers are willing to pay a premium price for the coatings.
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Further key findings from the report suggest
Changing lifestyle is making consumers demand new types of paintings that make a product durable and also create a striking impression on the consumers.
Single-Layer holds a market share of 53% in the year 2018 with an annual growth rate of 17.9% throughout the forecast period.
Self-Cleaning sub-segment occupies the largest market share in 2018 and is forecasted to hold a market share of 20% in the year 2026 with the highest annual growth rate throughout the forecast period.
Anti-Microbial holds a market share of 16% in the year 2018 and is forecasted to have an annual growth rate of 19.1% throughout the forecast period.
Nanotechnology and nanomaterial are the concepts that are being harnessed in correlation with smart coatings to open up new opportunities for manufacturers to tap into.
By Sensing Type, Light segment is forecasted to generate a revenue of USD 1.34 Billion in the year 2026 with an annual growth rate of 18.2% throughout the forecast period.
Based on the regions, the report covers the following regions:
North America (U.S.A., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Competitive Terrain:
The global Smart Coatings market has a consolidated presence of a large number of companies that have been performing consistently to achieve optimum market growth. The report comprehensively discusses these companies' current market standing, past performances, demand & supply graphs, sales network, production & consumption patterns, and distribution channels. The report thus points out the effective business approaches undertaken by these market players to build on their market footprint.
The leading companies operating across the global Smart Coatings market are listed below:
3M, PPG Industries, AkzoNobel, Axalta Coating Systems, Hempel, Jotun, Dow Corning Corporation, Sherwin-Williams, RPM International, and NEI Corporation among others.
Layers Outlook (Revenue, USD Billion; 2018-2026)
Single-Layer
Multi-Layer
Function Outlook (Revenue, USD Billion; 2018-2026)
Anti-Microbial
Anti-Corrosion
Anti-Fouling
Anti-Icing
Self-Cleaning
Self-Healing
Sensing Type Outlook (Revenue, USD Billion; 2018-2026)
pH
Ionic Strength
Temperature
Pressure
Surface Tension
Electric or Magnetic Fields
Light
Acoustics
Mechanical Forces
End Users Outlook (Revenue, USD Billion; 2018-2026)
Automotive & Transportation
Marine
Building & Construction
Aerospace & Defense
Electronics
Medical
IT Technologies
Agriculture
Household
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Radical Features of the Smart Coatings Market Report:
Valuable insights into the Smart Coatings market to impart an in-depth understanding of the business verticle
An 8-year forecast estimation along with an analysis of key elements of the market
Technological advancements, regulatory framework, and recent developments covered in the report
Growth analysis and projections until 2027
Statistical analysis of the key players operating in the Smart Coatings industry
Table Of Contents:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Smart Coatings Market Segmentation & Impact Analysis
Chapter 5. Smart Coatings Market By Layer Insights & Trends
Chapter 6. Smart Coatings Market By Function Insights & Trends
Chapter 7. Smart Coatings Market By Sensing Type Insights & Trends
Chapter 8. Smart Coatings Market By End Users Insights & Trends
Chapter 9. Smart Coatings Market Regional Outlook
Chapter 10. Competitive Landscape
Chapter 11. Company Profiles
11.1. 3M
11.1.1. Company Overview
11.1.2. Financial Performance
11.2. PPG Industries
11.2.1. Company Overview
11.2.2. Financial Performance
11.3. Akzonobel
11.3.1. Company Overview
11.3.2. Financial Performance
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Smart Coatings Market Outlooks 2021: Market Size, Shares, Growth Rate, Price and Industry Analysis to 2027 : 3M, PPG Industries, AkzoNobel, Axalta Coating Systems, Etc
The Global Smart Coatings market is forecasted to reach USD 10.32 Billion by 2026, according to a new report by Reports and Data.