Albany, NY -- (SBWire) -- 02/18/2016 --Transparency Market Research, a global market intelligence firm, has recently announced the publication of a new research report. The study provides detailed analysis of the global smart surfaces market, emphasizing on the market drivers and restraints, opportunities and challenges, and current trends in the market. The research report, titled "Smart Surfaces Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021," offers a clear picture of the market, including a market overview, product segmentation, geographical segmentation, and the competitive landscape of the smart surfaces market.According to the research study, in 2014, the global market for smart surfaces was worth US$0.4 bn and is anticipated to reach a value of US$20.5 bn by the end of 2021. The market is projected to exhibit an exponential 66.40% CAGR between 2015 and 2021.
The research study has divided the global smart surfaces market on the basis of material into self-assembling materials, self-healing materials, self-cleaning materials, and others. The self-cleaning materials segment accounted for the largest share in the overall smart surfaces market and is estimated to continue in the leading position in the coming years. In 2014, the self-cleaning materials segment was worth US$246 mn. The rapid growth of this segment in recent years can be attributed to the growing demand for smart surfaces offering stress-free cleaning. On the other hand, the self-assembling materials segment is anticipated to grow at a fast pace in the forecast period, exhibiting a whopping 68.30% CAGR between 2015 and 2021.
By application, the research report has segmented the global market for smart surfaces into military and security, transportation, energy, electronics, construction, medical and healthcare, and others. The medical and healthcare segment is further classified into drug delivery surfaces, antimicrobial smart surfaces, and others. The transportation segment is the key application segment of the smart surfaces market and is estimated to remain in the top position in the next few years. This segment is estimated to reach a value of US$6.4 bn by the end of 2021. The growing demand for smart windshields in luxury cars is one of the key factors fueling the growth of the transportation application segment of the global smart surfaces market in the coming years.
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Furthermore, the research study has categorized the global market for smart surfaces on the basis of geography into Europe, North America, Asia Pacific, and Rest of the World. At present, the North America market for smart surfaces accounts for the largest share in the overall market. Nevertheless, till the end of 2021, Asia Pacific is estimated to exhibit a high growth rate owing to the rising demand for smart surfaces and tremendously growing industrialization in this region. In addition, the presence of numerous automobile manufacturers is expected to further drive the smart surfaces market in Asia Pacific. Countries such as Japan, India, and South Korea are considered as the most high-potential markets for the growth of the smart surfaces market in Asia Pacific.
The research report further covers the competitive landscape of the global smart surface market. Some of the prominent players operating in the market are HzO, Inc., Clariant, Nanotrons Corporation, Debiotech S.A., nanoShell Ltd., P2i Ltd., The Dow Chemical Company, SLIPS Technology, 3M Company, and Gentex Corporation.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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Global Smart Surfaces Market to Exhibit Exponential 66.40% CAGR from 2015 to 2021
Smart Surfaces Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021