Smart coatings refer to a niche coating segment which possess advanced functionalities and exhibit properties on reaction with the external environment. The global smart coatings market has picked up pace in recent years, and Market Research Future (MRFR) has deemed the global smart coating market to exhibit a moderate compound annual growth rate over the forecast period which ends in 2022.
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Smart coatings are used for application in numerous use cases due to various superior properties associated with them such as anti-corrosion, self-healing, anti-microbial, and fire-protection to name the basics. Smart coatings find usage in various industry verticals for a wide range of purpose. Key end-use industries are increasingly becoming reliant on smart coatings for fulfilling their respective specialized needs and towering demand from end-use industries can be credited to the growth of the global smart coatings market.
The automotive industry is a major key end user of the global smart coatings market. They help in the protection of various automotive components and find particular use in the protection of high-end vehicles. Smart coatings find niche applications in the healthcare sector. They are increasingly percolating in operating rooms and in medical devices such as a catheter and other devices. They protect against infections and also prohibit the formation of blood clots.
New advances in material science have facilitated the incorporation of additional functionalities which has broadened the suitability range of smart coatings for a myriad of applications. Furthermore, the use of nanotechnology and nanomaterial in smart coatings has augmented the growth of the market.
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Competitive Landscape
The notable players operating in the global smart coating market include
- Dow Corning Corporation (U.S.),
- Ancatt Inc. (U.S.),
- PPG Industries, Inc (U.S.),
- Axalta Coating Systems, LLC (U.S),
- Akzo Nobel N.V. (the Netherlands),
- BASF SE (Germany),
- Autonomic Materials, Inc (U.S.),3M (U.S.),
- The Dow Chemical Company (U.S.),
- DuPont (U.S.).
Segmentation
The global Smart Coatings Market has been segmented based on product and application.
By product, the global smart coatings market has been segmented into single-layer and multi-layer.
By application, the global smart coating market has been segmented into automotive, aerospace & defense, construction, electronics, healthcare, and others.
Regional Analysis
By region, the global smart coatings market has been segmented into Asia Pacific (APAC), Europe, North America, and the Rest of the World (RoW).
APAC is the largest market for smart coatings driven by rapid industrialization in the region which generates high demand for smart coatings. The flourishing automotive and construction industry, in particular, bodes well for the growth of the market. China and India are key contributors to the APAC market. Furthermore, Japan conducts various world events which have led to large-scale infrastructural development in the region and induces greater demand for smart coatings.
North America is a significant market for smart coatings, the majority of the demand coming from the US, Canada, and Mexico. The North America market is spurred by innovation and progress made in the field of nanotechnology. The Europe smart coatings market growth is expected to be stagnated by stringent rules and regulations imposed by the government on environmental safety.
Industry Updates
- In January 2019, researchers at the McMaster University developed a special smart coating that can absorb specifically 'targeted' substances. The coating contains very thin layers of FDA-approved lubricant and some specific biomolecules which bind to target species. The smart coating can potentially find the application on medical implants where it can reduce the risk of clot formation and infection.
- January 2019- researchers at Penn State have developed an advanced antireflectionsmart coating that is not only capable of improving existing coatings but can also make transparent plastics virtually invisible.
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