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Nanocoatings Market
Nanocoatings Market
Nanocoatings market size is forecast to reach US$22.5 billion by 2027, after growing at a CAGR of 20.1% during 2022-2027.

Nanocoatings market size is forecast to reach US$22.5 billion by 2027, after growing at a CAGR of 20.1% during 2022-2027. Nanocoatings is a special type of nanoparticle coating that is made using carbon nanotubes which accelerate the reaction of forming activated oxygen from water by capturing the ultraviolet light in the presence of titanium dioxide. The nanocoatings help in enhancing the material and give flame retardant, anti-corrosion, anti-dust and many other features to the objects having nanocoatings. These are widely used in various end-use industries such as electronics, automotive, medical, marine coating and others. According to the International Organization of Motor Vehicle Manufacturers, the total car production is around 5,70,54,295 units and total commercial vehicle production is 2,30,91,693 in 2021 with an annual growth of 3% as compared to 2020. The rise in automotive production will eventually boost the demand for the nanocoatings market. However, due to covid 19 pandemic, the market has declined in 2020 owing to the shutdown of the manufacturing facilities to reduce the spread of the virus. But the market is expected to follow an increasing trend due to the growing consumption from the various end-use sector during the forecast period.

Report Coverage

The report: “Nanocoatings Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the nanocoatings industry.

 

By Technology: Pre-treatment, Electrocoat, Liquid Coating (Waterborne, Solvent Borne, Coil Coating), Powder, Ultraviolet and Others
By Substrate: Aluminum/Magnesium, Steel, Plastic & Plastic Composites, Wood & Wood Composites and Others
By Product Type: Anti-Microbial Coating, Anti-Fingerprint Coating, Anti-Fouling Coating, Hydrophyllic Coating, Anti-corrosion Coating, Self-Cleaning Coatings and Others
By End-use Industry: Auto, Transportation & Equipment (Automotive parts & Accessories, Wheels Heavy Duty Equipment and Others), Building & Construction (Extrusion Coatings, Interior Building Products and Others), Consumer Products & General finishes (Consumer Products, Kitchenware, Appliances and Others), Food & Packaging, Textile, Healthcare, Industrial (Industrial Bakeware & Molds, Energy Application, Office Furniture & Equipment, Electrical) and Others
By Geography: North America (USA, Canada and Mexico), Europe (UK, Germany, Italy, France, Netherlands, Belgium, Spain and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia and New Zeeland, Indonesia, Taiwan, Malaysia and Rest of APAC) and Rest of the World: The Middle East (<span lang="EN-US" times="" new="" roman";mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1"="" style="box-sizing: border-box;">Saudi Arabia, UAE, Israel, Rest of the Middle East) and Africa (South Africa, Nigeria, Rest of Africa)
 

 

Key Takeaways

 

  • North America is expected to register a CAGR of 21.2% during the forecast period (2022-2027). The increasing demand for automotive, electronic and other sectors is driving the Nanocoatings industry.
  • Growing demand for Nanocoatings in industrial purposes for energy and industrial bakeware & molds application is expected to boost the demand due to flame retardant, scratch proof, UV, chemical resistance and anti-corrosion characteristics during the forecast period.
  • Robust demand for Nanocoatings from various end-use industries such as automotive, marine, medical equipment, electronics and others owing to low emission of volatile organic compounds is expected to increase the demand during the forecast period.

 

Figure: North America Nanocoatings Market Revenue, 2021-2027 (US$ Billion)

Nanocoatings Market

 

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Nanocoatings Market Segment Analysis – by Product Type

<span lang="EN-US" times="" new="" roman";mso-bidi-font-family:="" calibri;mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1"="" style="box-sizing: border-box;">The self-cleaning Nanocoatings segments accounted for around <span lang="EN-US" times="" new="" roman";mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:red"="" style="box-sizing: border-box;">16%<span lang="EN-US" times="" new="" roman";mso-bidi-font-family:="" calibri;mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1"="" style="box-sizing: border-box;"> of the Nanocoatings <span lang="EN-US" times="" new="" roman";mso-bidi-font-family:="" calibri;mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1"="" style="box-sizing: border-box;">market share in 2021 and are estimated to grow at a significant CAGR during the forecast perio<span lang="EN-US" times="" new="" roman";mso-bidi-font-family:="" calibri;mso-bidi-theme-font:minor-latin;color:black;mso-color-alt:windowtext"="" style="box-sizing: border-box;">d. The self-cleaning nano-coating is an innovative combination of super-hydrophilic nanoparticles, photocatalytic and anti-static features widely used in electronics, energy, food & packaging, construction, marine industry, military &defense, automotive, aerospace and healthcare. According to US Solar Energy Industry Association, more than 230,000 Americans work in solar at more than 10,000 companies in every U.S. state as of 2020. In 2021, the solar industry generated more than US$33 billion of private investment in the American economy. Also, 46.1GW of energy production is planned for 2022 of which nuclear contributes 2.2GW, solar 21.5 GW, natural gas 9.6GW, wind 7.6%, batteries 5.5GW and others 0.2GW according to the U.S. Energy Information Administration. <span lang="EN-US" times="" new="" roman";="" mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;color:black;="" mso-color-alt:windowtext"="" style="box-sizing: border-box;">Therefore, the growing energy installation will help to boost <span lang="EN-US" times="" new="" roman";mso-bidi-font-family:calibri;="" mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1"="" style="box-sizing: border-box;">self-cleaning segments of nanocoatings <span lang="EN-US" times="" new="" roman";mso-bidi-font-family:="" calibri;mso-bidi-theme-font:minor-latin;color:black;mso-color-alt:windowtext"="" style="box-sizing: border-box;">demand during the forecast period.

Nanocoatings Market Segment Analysis - by End-Use Industry

The transportation segment accounted for approximately 21% of the Nanocoatings market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. Nanocoatings is widely used in the transportation sector for auto parts, accessories, wheels and heavy-duty equipment coatings. Rising middle-class income, huge youth population and lightweight vehicles are boosting the demand for the automotive sector and in turn, boosting demand for nanocoatings products. According to India Brand Equity Foundation, the total production of passenger vehicles, three-wheelers, two-wheelers and quadricycles reached 1,860,809 units In January 2022. Also, the Government of India expects the automobile sector to attract US$ 8-10 billion in local and foreign investments by 2023. Thus, the increasing investments in the transportation sector are expected to drive the nanocoatings market size during the forecast period.

Nanocoatings Market Segment Analysis - by Geography

North American region held the largest portion of the Nanocoatings market share in 2021 up to 38%, owing to the growing construction, automotive and electronics sector in the U.S, Canada and Mexico. The major factor responsible for the growth of Nanocoatings is less emission of volatile organic compounds which gives eco-friendly products. Nanocoating is widely used in auto parts, equipment, accessories, wheels, electronics components, construction material and others. According to the U.S Department of Commerce, the total construction spending during March 2022 was estimated at a seasonally adjusted annual rate of US$1,730.5 billion, with a rise of 0.1% above the revised February estimate of US$1,728.6 billion. According to Statistics Canada, about 1.6 million new motor vehicles registered in Canada in 2021 with an increase of 6.5% from 2020. Therefore, the growing construction, automotive and other sectors are boosting the nanocoatings market size during the forecast period.

Nanocoatings Market Drivers:

increasing demand for Nanocoatings for Medical Devices applications

Nanocoatings are widely used in the coating of medical devices as it helps in the prevention of bacterial & fungal infection and smoothens the surface & performance of medical devices to meet the stringent needs of the medical device industry. Also, it helps to reduce abrasion between tissues & devices as many medical devices require non-stick coatings over-molded, biocompatible and other finishes to combat problems of infection. According to Medtech Europe, Organization, the global medical devices market share by the various countries in 2020 is as follows, U.S (41.6%), Europe (27.6), China (7.4%), Japan (7.2%), Canada (1.8%), South Korea (1.6%), India (1.3%) and others (11.6%). The rise in the demand and advancement in the technology of medical devices will boost the nanocoatings market due to its wear resistance and anti-microbial properties during the forecast period.

Growing electronics industry across the globe

The electronics sector is growing rapidly owing to increasing demand from emerging market economies. As a result, many countries are rising the production of more electronics and investment in the foreign production of electronics has increased dramatically. Also, growth in the electronics sector is primarily driven by innovation, with companies spending significant amounts on research and development (R&D) to make better products and to increase the efficiency of the manufacturing process. Nanocoatings play a vital role in the electronics sector as it is widely used for the coating of various devices such as consumer products, kitchenware, appliances and others. According to Invest India, the global electronics components market is expected to reach US$191.8 billion by 2022, of which the Asia Pacific region is anticipated to capture a dominant share globally. The growth in the electronic components sector will eventually help to boost the demand for the nanocoatings market during the forecast period.

Nanocoatings Market Challenges:

Volatile Price of Raw Material

Nanocoating is a premium product, so they are available at higher prices when compared to other coatings. The volatile price of raw materials such as silver, titanium dioxide, silicon and others is hindering the market growth. For instance, the average U.S. spot price for silicon metal was 444.38 cents per pound in February 2022, which is three times more than the average price in February 2021 according to the U.S. Department of the Interior and the U.S. Geological Survey. Owing to this factor, the product of nanocoatings comes at a higher price as compared to its alternative coatings, which tends to constrain the growth of the market.

Nanocoatings Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the global Nanocoatings market. Top 10 companies in the Nanocoatings global market are:

 

  1. Buhler PARTEC GmbH
  2. Bio-Gate AG
  3. Eikos Inc.
  4. Cima NanoTech Inc.
  5. Inframat Corporation
  6. Nanofilm Ltd.
  7. Nanophase Technologies Corporation
  8. Integran Technologies Inc.
  9. Nanogate AG
  10. Nanovere Technologies LLC

 

Recent Developments

 

  • In February 2022, The McMaster Manufacturing Research Institute (MMRI) and Alchemy develop innovative nanocoatings solutions to the challenges faced by many industries such as repelling water, dirt and ice while maintaining high transparency, mechanical durability and weather specifications for advanced sensor systems used in harsh environments.
  • In January 2021, Tesla NanoCoatings Launched NANO Non-Skid; Teslan that has 1105 Zn-CNT Single Coat Deck Epoxy New Technology Combining Carbon Nanotubes and Aggregate to eradicate the biggest offshore challenges of worker safety and maintenance.
  • In August 2020, Indian Tech Startup Muse Nanobots launched a nanotech coating for textiles that can inactivate the Coronavirus within five minutes of contact. Muse nanocoated textiles can offer enhanced protection for common people to travel and will provide great safety to frontline healthcare, hospital, hotels and restaurant workers.

 

<span lang="EN-US" times="" new="" roman";="" mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;color:black;="" mso-themecolor:text1"="" style="box-sizing: border-box;">Relevant Reports

 

Report Code: CMR 0073

 

 

Report Code: CMR 0140

 

 

Report Code: CMR 0141 
 
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