Press release
Smart Coatings Market Report 2024: Strategies And Recent Developments | DuPont de Nemours Inc., Minnesota Mining and Manufacturing Company, Akzo Nobel N.V., Ancatt Inc
Smart Coatings Market Size
The Business Research Company offers in-depth market insights through Smart Coatings Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth 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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Market Segmentation:
The main types of smart coatings are single-layer, and multi-layer. Single-layer boards, also known as single-sided boards, are made up of components on one side and a conductor pattern on the other. Single-layer anti-reflection coating could be made non-reflective only at one wavelength, generally in the middle of the visible. The different functions include anti-corrosion, anti-icing, anti-fouling, anti-microbial, self-cleaning, and self-healing and are used in automotive, aerospace, construction, military, and healthcare.
Major Driver - Smart Coatings Market Poised For Growth Driven By Increasing Demand From Construction Industry
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.
Competitive Landscape:
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
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Top Trend - Technological Advancements Driving Growth In The Smart Coatings Market
Technological advancements are the key trends gaining popularity in the smart coatings market. Innovations in technology and the increasing trend of smart coatings technology is encouraging market demand. Major players in the market are focusing on developing technologically advanced products for market growth. For instance, in September 2021, PPG Industries Inc., a US-based company that develops and delivers paints, coatings, and specialty materials launched PPG Sigma Sailadvance NX coating, a key antifouling technical breakthrough. The coating reduces fuel use and associated carbon dioxide (CO2) emissions, resulting in cheaper total operating costs and a greater contribution to global carbon reduction goals. A biocide package in the PPG Sigma Sailadvance NX coating tackles a wide range of global fouling growth conditions, from bacterial slime to soft fouling to aggressive animal fouling.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Smart Coatings Market Characteristics
3. Smart Coatings Market Trends And Strategies
4. Smart Coatings Market - Macro Economic Scenario
5. Smart Coatings Market Size And Growth
…..
27. Smart Coatings Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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