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Antifog Coatings Market Key Trends And Forecast Report 2024-2033
Antifog Coatings Market Key Trends
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According to The Business Research Company's, The antifog coatings market size has grown strongly in recent years. It will grow from $5.33 billion in 2023 to $5.6 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to strong economic growth in emerging markets, growth in world population, focus on workplace safety, government support for automobile industry and increase in territorial and political conflicts.
The antifog coatings market size is expected to see strong growth in the next few years. It will grow to $6.93 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to global population growth and urbanization, rapid growth in ecommerce, government mandates for helmet safety, increasing infrastructure development expenditure by governments and growth in sports sector. Major trends in the forecast period include focusing on uv-cure high performance anti-fog coatings, focusing on new technologies, indulging in research and development to innovate, launch new goods and services and focusing on quick cure antifog coatings for long-lasting anti-fog performance.
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Market Drivers and Trends:
The rapidly growing e-commerce market is expected to drive the antifog coatings market in the forecast period. The growing e-commerce market allows more people to access electronics, sunglasses sportswear, and other products, generating demand for antifog coatings. According to the US Department of Commerce Retail Indicator Division, e-commerce sales were $870 billion in the US in 2021, a 14.2% increase over 2020. Increasing demand from e-commerce companies for logistics to cater to the growing demand from end customers is expected to increase the demand for commercial vehicles and drive the demand for antifog coatings. With reduced delivery times and leaner supply chains, the demand for last-mile delivery in e-commerce is expected to drive the demand for commercial vehicles, thus generating demand for antifog coatings. For instance, commercial vehicle sales in India increased by 25% in February 2022 over the previous year. Hence, the growing e-commerce market is expected to drive the demand for antifog coatings.
UV-cure high-performance anti-fog coating provides outstanding long-term anti-fog performance, a smooth, easy-to-clean surface, and resistance to abrasion, chemicals, and UV rays. For example, in August 2021, FSI Coating Technologies (FSICT), a US-based company involved in producing high-performance anti-fog coatings, launched Visgard UV AF anti-fog coating. The CrystalSpin UV AF Anti-Fog Coating Machine from FSICT may be used to apply this coating, which improves the strength and appearance of ophthalmic and safety eyewear lenses. Additionally, FSICT provides a full line of thermal cure Visgard multipurpose high-performance water washable and water sheeting anti-fog coating materials for a variety of industrial applications and substrates. Visgard has superior adhesion, long-lasting anti-fog performance, and top-notch abrasion, chemical, and UV protection, among other advantages.
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Major Key Players of the Market:
Parker Hannifin Corporation, Meggitt Plc, Trelleborg Sealing Solutions, Saint Gobain S.A., Eaton Corporation, TransDigm Group Incorporated, Freudenberg Group, Hutchinson SA, SKF Group, Technetics Group, Xiaogan Ruisheng Mech Elec Mfg Ltd, Sealtech.com Aviation Seals Mfg. Ltd, Sealcon, Sujan Industries, EagleBurgmann India, Eagle Industry Co., Precision Polymer Engineering, Safran SA, Micro Seals, International Seal Co Australia (ISCA) Pty Ltd, DuPont de Nemours Inc, Bal Seal Engineering Inc, Regal Rexnord Corporation, PPG Industries Inc, Embraer S.A, LASSAC AERO, Servicio De Mantenimiento Del Peru, Performance Sealing Inc, Advanced Aircraft Seal, SEAL Aviation LLC, Airbus, Bombardier Inc, MDA Corporation, Collins Aerospace, CAE Inc, Rockwell Collins, Eaton Aerospace, Goodrich Aerospace, Parker Industrial, Al Ashrafi Trading Llc, Global Seals Ghana Ltd, Acme Seals Group, GOLDEN SEAL, Erith Group, Arabian Seals Co. Ltd, Al Khobar.
Antifog Coatings Market 2024 Key Insights:
• The antifog coatings market size is expected to see strong growth in the next few years. It will grow to $6.93 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.
• Rising E-Commerce Growth Fuels Demand For Antifog Coatings
• Fsi Coating Technologies Introduces Uv-Cure High-Performance Anti-Fog Coating
• North America was the largest region in the antifog coatings market in 2023
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