Albany, NY -- (SBWIRE) -- 05/08/2014 -- Transparency Market Research has released a new market report titled “Nanocoatings Market for Medical & Healthcare, Food Manufacturing, Packaging, Marine, Water Treatment, Electronics, Building & Construction, Automotive, Energy and Other End-user Industries: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019” the global demand for the nanocoatings was valued at USD 1.45 billion in 2012 and is expected to reach USD 6.75 billion in 2019, growing at a CAGR of 24.7% between 2013 and 2019.
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Growing medical and automotive coatings industry coupled with environmental benefits has been driving the nanocoatings market. The development of coatings industry in Brazil, India, and China is likely to be one of the key factors driving the demand for nanocoatings over the next few years. Stringent environmental regulations for coatings industry in Europe are likely to provide more opportunities for global nanocoatings market. However, health and environmental concerns associated with the nanocoatings are anticipated to restrain the growth of the market in the coming years. Although, increasing demand of nanocoatings in electronics and automotive industry in India and China coupled with growing demand for smart coatings is expected to open opportunities for the growth of the market over the next few years.
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Anti-microbial nanocoatings were the most widely consumed nanocoatings and accounted for around 30% of the global demand in 2012. The demand for anti-microbial nanocoatings was more owing to rise in demand from medical and healthcare, water treatment and food manufacturing end-users. However, anti-fingerprint nanocoatings are expected to show the fastest growth over the next few years owing to their rising demand from electronics, medical and healthcare, automotive and packaging industry.
Medical and healthcare was the largest end-user for nanocoatings in 2012. Nanocoatings are being increasingly used in medical equipment and implants. Automotive was the second largest end-user for nanocoatings and is expected to show similar growth in the coming years. However, the demand for nanocoatings is expected to be growing from the energy and electronics industries over the forecast period. The demand is more for nanocoatings such as self-cleaning, easy-to clean and anti-microbial among others.
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North America dominated the nanocoatings market in 2012 followed by Europe owing to the growth of medical and healthcare industry. Asia Pacific is expected to witness the highest growth within the forecast period on account of growing electronics and automotive industries in India and China. The demand for nanocoatings in Asia Pacific is expected to grow at a CAGR of 25.8% between 2013 and 2019.
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