Albany, NY -- (SBWIRE) -- 12/06/2018 -- The global nanocoatings market is predicted to exhibit a remarkable growth in the forthcoming years, according to analysts at Transparency Market Research (TMR). The global nanocoatings market is currently highly fragmented with several medium- and small-sized enterprises competing with each other and few large-scale enterprises. Market players are seen focusing on research and development in the field of nanotechnology, which is a base technology for this market. Enterprises are keen on imbibing the latest technological innovations in order to differentiate their offering from the competition.
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The oil and gas industry is a key client of the nanocoatings market, as the product is utilized as an innovative solution for oil field issues such as corrosion and wear and tear. Thus, a number of vendors are seen capitalizing on the demand coming in from the oil and gas sector, as it is a high-paying, premium business.
Prominent vendors in the global nanocoatings market are Nanovere Technologies LLC, Eikos Inc., Inframat Corporation, Nanophase Technologies Corporation, and Bio-Gate AG, among others.
According to TMR, the global nanocoatings market is expected to exhibit a CAGR of 24.70% over the forecast duration 2013 to 2019. The valuation of the market is estimated to rise from US$1.4 bn in 2012 to US$6.7 bn in 2019. Among the product segments, anti-microbial nanocoatings ruled the roost with nearly 30% of the overall market share in 2012, and this trend is expected to continue over eth forecast period due to immense demand from the food, healthcare as well as water treatment industries. Geographically, Asia Pacific is prognosticated to witness lucrative growth, with a promising 25.80% CAGR, on account of the region's burgeoning automotive, electronics and manufacturing sectors.
Staggering Revival of Manufacturing to Augment Demand
With the recent unprecedented growth in industrial and production activities, the number manufacturing plants are increasing, leading to an increment in the demand for efficient machinery used to operate manufacturing activities and thus generates high demand for nanocoatings. Various nanocoatings are used for different applications depending up on the usage. Global commercial and manufacturing institutions are turning to nanocoatings technologies to further enhance current commercial products or add completely new properties to existing technology. Automotive, construction, polymer, solar, glass, oil and gas organizations understand that nanocoatings coatings offer significant product performance and cost-saving advantages.
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Bio-Based Raw Materials to Emerge as Key Market Trend
Emerging trends, which have a direct impact on the dynamics of the nanocoating industry, include nanostructured coating for prevention of biofilm-associated infections on medical devices and the development of nanocoating for waterproof mobile devices. For instance, an enterprise called Liquipel has come up with an innovative process that coats a layer of nanocoating on your devices using a vapor deposition technique in vacuum. This is a significant trend that is expected to fuel the market in the coming years.
Automotive Sector to Offer Lucrative Market Opportunity
Use of nanocoatings in hybrid automotives are being increasingly adopted by automobile manufacturers. Use of nanocoatings enables new coloration effects and renders better durability, self-healing, self-cleaning, thermal barrier, conductivity and anti-fingerprint properties. Surface protection is a key area in the luxury car market both for protection from UV, wear, heat; promotion of adhesion; and reduction of engine friction. Thus, the automotive industry is expected to emerge as a key end-use of the product in the coming years, boosting the global nanocoatings market over the forecast period.
This review is based TMR's report titled, "Nanocoatings Market (Product- Anti-fingerprint, Anti-microbial, Anti-fouling & Easy-to-clean, Self-cleaning, and Specialty Coatings; Application- Medical & Healthcare, Food Manufacturing, Packaging, Marine, Water Treatment, Electronics, Building & Construction, Automotive, Energy, and Textiles/Leather, Industrial and Engineering): Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.