TAGS: Marine and Protective Coatings Smart Coatings Aerospace Coatings Industrial Coatings
The global nanocoatings market was valued at $10.7 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030.
Improve Functionalities of Material
Nanocoatings are applied to surfaces to create or improve functionalities of material, including water & ice protection, corrosion protection, friction reduction, self-cleaning, antifouling & antibacterial properties, heat & radiation resistance, and thermal management.
These coatings provide advantages for applications in medical, defense, aerospace, marine, and oil industries, driving manufacturers to incorporate multi-functional coatings in their products.
Rapid increase in world population; surge in the income level; and rise in demand for nanocoatings from the automotive, electronics, medical, and healthcare industries are the key factors that drive the global nanocoatings market.
In addition, surge in awareness about infections from several surrounding objects and hospital-acquired infections (HAI), rapid shift in the demand for nanocoatings instead of polymer coatings positively impact the nanocoatings market growth.
Nanotechnology for Sustainable Construction
Furthermore, growth in construction activities along with surge in adoption of green buildings and infrastructures offers growth opportunities to the market players. Therefore, numerous key players in construction sector are adopting nanotechnology for sustainable construction.
Furthermore, companies are taking advantage of the novel properties of nanomaterials to develop cleaner and energy-efficient construction. Nanocoatings prevent condensation and misting, keeping glass and other surfaces clean and aid to decompose pollutants, including nitrogen oxide. Moreover, they can enhance the energy footprint of the building.
According to application, the electronics segment generated the highest revenue in 2020 and is expected to remain dominant throughout the forecast period. This is attributed to the growth in adoption of nanocoatings in electronic devices & optics applications.
Source: AMR