Growingadoption of smart coatings technology across a wide range of industries such asbuilding and construction, automotive, medical, electronics, and militarysectors is likely to result into noteworthy rise in the sales of global smart coatingsmarket during the tenure of 2017 to 2025,states a new research report by TMR. Further, the study highlights that themarket for smart coatings is estimated to expand at solid CAGR 29.8% acrossthe forecast period 2017-2025 andaccount for US$9.82 Bn by 2025 end.
The newresearch report performs segmentation of the global smart coatings market basedon several important parameters including region, product type, andapplication. This segmentation helps analysts in presenting all the data fromglobal market for smart coatings in a comprehensible way.
Diverse Properties of SmartCoatings Boost Their Demand across End-User Industries
Thecompanies engaged in different industrial sectors such as building andconstruction, automotive, military, electronics, and medical industry areincreasing the use of smart coatings technology in recent few years. One of thekey factors behind the increased demand for smart coatings is the ability ofthis product to offer various advantages. Thus, growing acceptance of smartcoating technology will help in rapid expansion of the global smart coatingsmarket during upcoming years. At present, there are different product typesavailable in the market including self-cleaning, self-healing, anti-corrosion,self-dimming, and anti-microbial smart coatings.
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Growing Demand for Products with Noor Minimum Maintenance Needs Drives Market Sales
Over theperiod of past few years, the enterprises engaged across a wide range ofend-user industries are growing preference toward the use of products that requireno or minimal maintenance. This scenario is generating massive sales avenuesfor vendors operating in the global smart coatings market.
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Industry Players Focus on ResearchActivities to Offer Environmental-Friendly Products
Thepresence of many active players underlines that the competitive landscape ofthe global smart coatings market is highly intense. Thus to gain leading marketposition, enterprises are utilizing diverse strategic moves. As a result, thereis considerable growth in the partnerships, collaborations, joint ventures, andmergers and acquisitions in the smart coatings market.
The playersoperating in the global smart coatings market are investing heavily in theresearch and development activities. The main motive of this tactic is thedevelopment of superior quality products. Moving forward, this strategy is alsoassisting players from the global smart coatings market in launchingenvironmental-friendly and corrosion-free products. All these activities byplayers are estimated to bring extensive expansion avenues in the smart coatingmarket in the forthcoming years.
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The reportprofiles key participants working in the smart coatings market. This listincludes many names such as PPG Industries, DuPont, BASF SE, Bayer AG, 3MCompany, The Dow Chemical Co., Jotun A/S, AkzoNobel, NEI Corporation, and TheSherwin-Williams Company.
North America: Prominent Region forGrowth of Smart Coatings Market
On regionalfront, the smart coatings market is spread across many key regions such asEurope, North America, the Middle East and Africa, and Asia Pacific. Of them,the market for smart coatings is estimated continue gaining promising salesopportunities in the North America region. This growth can be attributed tomany factors including presence of sturdy construction sector, which is usingvarious advanced technologies, in the region. Moving forward, the North Americasmart coatings market is estimated to gather lucrative avenues owing toextensive growth in demand from various end-user industries such as military,consumer electronics, healthcare, and automotive sector of the region.
The studypresented here is based on a report by Transparency Market Research (TMR)titled “Smart Coatings Market (Product Type - Self-cleaning, Self-healing,Anti-corrosion, Anti-microbial, and Self-dimming; Application - Building andConstruction, Automotive, Electronics, Military, and Medical) - Global IndustryAnalysis, Size, Share, Growth, Trends, and Forecast 2017–2025.”
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