Pune, India, Feb. 14, 2022 (GLOBE NEWSWIRE) -- According to Fortune Business Insights™, the global nanocoatings market size is expected to showcase considerable growth by reaching USD 39,869.2 million by 2028 while exhibiting a CAGR of 22.7% between 2021 and 2028. “Nanocoatings Market, 2021-2028.”. The report further mentions that the market stood at USD 7,825.3 million in 2020 and is projected to experience considerable growth during the forecast period. The increasing focus on reducing environmental impact and the growing demand from the automotive sector is expected to propel the demand for these coatings across the globe.
Halted Industrial Projects amid COVID-19 to Impact Growth
The government agencies across the globe have imposed lockdown and stringent social distancing norms to reduce the effect of the global pandemic, COVID-19. This has led to suspension of several industrial activities and shutdown of industries. Besides, stalling of several industrial projects globally due to reduced workforce and less demand is affecting the market growth.
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List of the Companies Profiled in the Global Market:
- P2i Ltd(Oxfordshire, UK)
- Nanovere Technologies LLC(Michigan, U.S)
- Nanofilm Ltd.(Ohio, U.S)
- ACTnano(Massachusetts, U.S)
- Nanophase Technologies Corporation (Illinois, U.S)
- Tesla NanocoatingsInc (Ohio, U.S)
- Cleancorp (NSW, Australia)
- Other Key Players
Market Segmentation:
We have segregated the global market on the basis of type, application, and region. On the basis of type, the market is segmented into antimicrobial, self-cleaning, anti-fingerprint, anti-corrosion, and others. Based on application, the market is categorized into building & construction, automotive, aerospace, electronics, marine, and others. Lastly, based on region, the market is bifurcated into Asia-Pacific, North America, Latin America, the Middle East and Africa, and Europe.
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What does the Report Provide?
The market report provides an in-depth analysis ofseveral factors such as the key drivers and restraints that will impact growth by adopting several research methodologies. The report further provides insights into the regional analysis covering different regions, contributing to the market growth. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to further contribute to the market growth.
DRIVING FACTORS
Increasing Demand from Automotive Sector to Favor Growth
Nanocoatings are a vital part of the automotive industry. These coatings aid in significant reduction of wear and friction to increase the shelf life of the material. They further help to reduce the dissipation of energy such as heat that leads to the improvement in the overall efficiency of the automotive. Additionally, they aid in providing protection from corrosion, water, ice, heat, etc. Owing to their several antibacterial and antimicrobial properties, the increasing demand for these types of coating from the automotive sector is expected to contribute to the global nanocoatings market growth in the forthcoming years. Moreover, the increasing focus on reducing the environmental impact due to the use of traditional coatings is expected to favor the product’s demand globally.
Further Report Findings:
- North America is expected to hold the largest global nanocoatings market share in terms of revenue in the forthcoming years. This is attributable to the growing aerospace and electronics industry in countries such as the U.S. that will propel the demand for advanced nanocoatings to prevent the surfaces from corrosion and damage by external forces in the region. North America stood at USD 3,188.6 million in 2020.
- The market in Asia-Pacific is expected to experience considerable growth owing to increasing demand for sustainable construction and building activities in the region between 2021 and 2028.
- Based on type, the self-cleaning segment is expected to experience exponential growth during the forecast period. This is ascribable to factors such as the growing adoption of self-cleaning nanocoatings across the glass industry that aid in repelling contaminants such as dirt, dust, and foreign materials across the globe.
COMPETITIVE LANDSCAPE
Eminent Companies Focus on Product Innovation to Brighten Their Market Prospects
The global market for nanocoatings is consolidated by prominent companies focusing on developing innovative products and gaining a competitive edge over their rivals. Additionally, other key players are adopting strategies such as facility expansion, collaboration, and partnership to maintain their presence in the global marketplace during the forecast period.
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Detailed Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Emerging Trends – For Major Countries
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Launches, and Mergers & Acquisitions
- Qualitative Insights – Impact of COVID-19 on Global Nanocoatings Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
TOC Continued…!
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Industry Development:
- January 2020 - P2i Ltd, a leading Australian manufacturer, announced the launch of a new range of halogen free nanocoatings that are primarily manufactured to protect vehicles from corrosion and ensure shiny lustre for a longer period of time.
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