Overview
and Scope
The smart coatings market consists of sales of smart coatings by entities
(organizations, sole traders, and partnerships) that are used to provide a
variety of functions in addition to corrosion protection. Smart coatings are
special films with preset features that allow them to detect and respond to
external stimuli such as the environment. Corrosion prevention, material
protection, and other surface improvement applications can all benefit from the
coatings' self-healing and self-repair capabilities.
Sizing and Forecast
The smart coatings market size has grown exponentially in recent years. It will
grow from $5.04 billion in 2023 to
$6.38 billion in 2024 at a compound
annual growth rate (CAGR) of 26.5%. The
growth in the historic period can be attributed to corrosion prevention
and protection, demand for self-healing and self-cleaning coatings, growth in
automotive and aerospace industries, expansion of construction and
infrastructure projects, sustainability and environmental concerns..
The smart coatings market size is expected to see exponential growth in the
next few years. It will grow to $15.64
billion in 2028 at a compound annual growth rate (CAGR) of 25.1%. The growth in the forecast period can be
attributed to integration of iot in coating performance monitoring, adoption of
smart coatings in the healthcare sector, antimicrobial and antiviral coatings
for public spaces, energy-saving and anti-icing coatings, global expansion of
smart city initiatives, eco-friendly and non-toxic coating materials.. Major
trends in the forecast period include self-repairing and shape-memory smart
coatings, coatings with color-changing properties, nanocoatings for enhanced
performance, smart coatings for solar energy harvesting, transparent and
conductive coatings for electronics, coatings with air purification and
pollution resistance..
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Segmentation & Regional Insights
The smart coatings market covered in this report is segmented –
1) By Product: Single-Layer, Multi-Layer
2) By Function: Anti-Corrosion, Anti-Icing, Anti-Fouling, Anti-Microbial,
Self-Cleaning, Self-Healing
3) By Application: Automotive, Aerospace, Construction, Military, Healthcare,
Other Applications
Asia-Pacific was the largest region in the smart coatings market in 2023. Asia-Pacific
is expected to be the fastest-growing region in the market share. The regions
covered in the smart coatings market report include Asia-Pacific, Western
Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
Increasing demand from the construction industry is expected to propel the
growth of the smart coatings market. The construction industry mainly involves
building and repairing structures. Smart coatings are special films that
provide predefined properties to make them sense and respond to external
environmental stimuli. Smart coatings powered by nanotechnology are quickly
becoming an excellent solution that has unique and powerful solutions for
corrosion prevention. For instance, according to the Indian Ministry of
Statistics and Program Implementation, in 2022, the construction sector is
expected to grow in double digits at 10.7%. Thus, the increasing demand from
the construction industry will drive the growth of the smart coatings market.
Key Industry Players
Major companies operating in the smart coatings market include DuPont de Nemours Inc., Minnesota Mining and
Manufacturing Company, Akzo Nobel N.V., Ancatt Inc., BASF SE, Bayer AG, Hempel
As, Jotun A/S, Koninklijke DSM N.V., NEI Corporation, PPG Industries Inc., RPM
International Inc., The Dow Chemical Co., The Sherwin-Williams Company,, Republic Powdered Metals International Inc.,
Corning Inc., Hygratek LLC, Axalta Coating Systems Ltd., Inframat Corporation,
Gentex Corporation, TIP Nanotech, AnCatt Co., Autonomic Materials Inc.,
Nanosonic Ltd., Surfix Ltd., Adaptive Surface Technologies, DryWired LLC, Graco
Inc., Tesla NanoCoatings Inc., Research Frontiers Inc., Helicity Technologies
Inc., Debiotech SA
The smart coatings market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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