The global anti-icing coatings market wasvalued at US$ 488.6 Mn in 2017 and is anticipated to expand at a CAGR of 14.04%from 2018 to 2026, according to a new report titled ‘Anti-icing CoatingsMarket: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast,2018–2026,’ published by Transparency Market Research (TMR). The globalanti-icing coatings market is driven by the rise in demand for these coatingsin the aerospace & automotive segment. Europe accounts for major share ofthe global anti-icing coatings market.
High Costs and Safety Concerns Associated withDamages Caused due to Icing to Drive Market Growth
Icing or accumulation of ice caused by freezing of liquid on a surfacehampers the functioning of systems. For instance, icing on screens and body ofaircraft damages their aerodynamic shape to a large extent. It also increasesthe load on the aircraft. This boosts fuel consumption and challenges thestructural integrity of the aircraft. It can make an aircraft unsafe duringsevere weather conditions. Icing also occurs in power utilities andtelecommunication lines. Ice accumulation leads to added burden on overheadlines and antennas, making them buckle and fail. Therefore, removal of ice iscritical for the performance and safety of systems that are exposed to icing.Anti-icing coatings play an important role in curbing costs and safety concernsassociated with icing. This is estimated to be a key factor augmenting theanti-icing coatings market during the forecast period.
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Lack of Technology to Improve Performance Acting asRestraint
Anti-icing coatings have low durability. This makes them susceptible tomechanical wear and tear. These coatings need to be applied at regular intervaland are not easy to repair. Sometimes, mechanical removal of ice is necessaryeven after the application of these coatings. Lack of technology to produceanti-icing coatings of longer durability and desired properties is anticipatedto restrain the global anti-icing coatings market during the forecastperiod
Metals Segment to Dominate Global Anti-icing CoatingsMarket
Based on substrate, the global anti-icing coatings market has beensegmented into metal, glass, concrete, and others (including plastics). Themetal segment is estimated to dominate the global market during the forecastperiod. The segment is projected to expand at a rapid pace during the forecastperiod. Anti-icing coatings provide a layer of protection from the environmentand reduce accretion of ice on the metal surface. The glass segment is likelyto lead the market growth during the forecast period.
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Aerospace & Automotive Segment to Lead DemandGrowth
In terms of application, the global anti-icing coatings market has beendivided into aerospace & automotive, renewable energy, power utility &telecommunication, construction, and others (including plastics). The aerospace& automotive segment accounted for dominant share of the anti-icingcoatings market in 2017. The segment is expected to expand at a rapid paceduring the forecast period. The renewable energy segment held large share of themarket in 2017. The segment is anticipated to expand at a rapid pace during theforecast period due to the rise in use of anti-icing coatings on wind turbinerotor blades. Anti-icing coatings are widely used on rotor blades of windturbines. Icing causes safety hazards to rotor blades and leads to forcedstoppages of wind power plants. These power downtimes prove uneconomical. Icingalso adversely affects the life and mechanical strength of blades. Removal ofice mechanically from rotor blades is not feasible. Anti-icing coatings aremore convenient alternatives.
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Europe Dominates Global Anti-icing Coatings Market
Based on region, the global anti-icing coatings market can be classifiedinto North America, Europe, Asia Pacific, Middle East & Africa, and LatinAmerica. In terms of value and volume, Europe was the leading region of theglobal anti-icing coatings market in 2017. The region is estimated to maintainits dominance during the forecast period. Europe comprises Nordic countries,which have cold climate and are prone to problems caused by ice accumulation.The market in the region is estimated to expand at a significant pace duringthe forecast period. North America is also a key consumer of anti-icingcoatings. The market in the region is likely to expand at a rapid pace in thenext few years. This can be ascribed to the prevalence of cold climaticconditions in the region. In terms of demand, Asia Pacific holds importantshare of the global anti-icing coatings market. The market in Latin America andMiddle East & Africa is projected to create lucrative opportunities for theanti-icing coatings market during the forecast period.
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High Degree of Competition among Market Players
The market is dominated by large players. Presence of a large number ofsmall- and medium-sized players makes the market highly competitive. Keyplayers operating in the market are PPG Industries Inc., DowDuPont, The 3MCompany, NanoSonic Inc., Aerospace & Advanced Composites GmbH, NEICorporation, Cytonix, and NeverWet LLC. High growth potential is encouragingnew local and international players to enter the market.
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TMR’s datarepository is continuously updated and revised by a team of research experts sothat it always reflects the latest trends and information. With extensiveresearch and analysis capabilities, Transparency Market Research employs rigorousprimary and secondary research techniques to develop distinctive data sets andresearch material for business reports.
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