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Smart Coatings Global Market Report 2024 - By Report, Size, Share, Demand, Forecast To 2033
Smart Coatings Market
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.
Market Overview -
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.
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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
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.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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