24.9% CAGR expected for Nanocoatings Market during 2016-2021

24.9% CAGR expected for Nanocoatings Market during 2016-2021
Nanocoatings Market
Nanocoatings Market

Nanocoating is a hydrophobic solution employed in coating industry with the help of nanomaterials. Nanocoatings replace the conventional coatings due to their lower VOCs content. It offers properties such as streak-free, excellent glance, UV resistant, chemical resistant, anti-corrosion and low maintenance. Nanocoatings are primarily employed for the protection of ships, planes, automobiles, anti-fingerprint sealing for stainless steel, sanitary facilities, displays and as an easy-to-clean sealing for walls and facades.

According to the report, global demand for nanocoatings market was valued at USD 1.50 billion in 2014 and is expected to reach USD 6.85 billion in 2020, growing at a CAGR of 24.9% between 2015 and 2020. In terms of volume, the global nanocoatings market stood at 266.0 Kilo tons in 2014. Zion Market Research has published a new report titled “Nanocoatings (Anti-Fingerprint, Anti-Microbial, Anti-Fouling & Easy-To-Clean, Self-Cleaning and Others) Market for Medical & Healthcare,  Water Treatment, Electronics, Building & Construction, Automotive, Energy and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020.”

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Increasing demand for superior materials in the medical and automotive industry is a major driving factor of global nanocoatings market. Another major driver is consistent growing demand for nanocoatings instead of conventional coatings due to its superior characteristics and low VOC emissions are expected to propel the nanocoatings market. However, environmental regulations and growing health concerns may hold back the growth of nanocoatings market. Furthermore, increasing range of nanocoatings market together with growing electronics and automotive industry in countries like India and China are projected to disclose new avenues for the expansion of the market during the coming years.

Key products of nanocoatings market include anti-fingerprint, anti-microbial, anti-fouling & easy-to-clean, self-cleaning and others. The anti-microbial is a leading product segment that accounted for around 30% shares in total volume consumption in 2014. Anti-fouling & easy-to-clean was a second highest product segment in 2014. Moreover, anti-fingerprint is one of the fastest growing segments due to strong demand from healthcare, medical and electronics industry that is expected to grow the market size during the years to come.

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The key application for nanocoatings market includes the medical & healthcare, food manufacturing, packaging, marine, water treatment, electronics, building & construction, automotive, energy and other. Medical & healthcare dominated the global nanocoatings market with over 16% shares of the total market in 2014.Further, it is expected to continue this trend over the years to come due to advanced medical trends and technologies. Automotive and electronics are one of the fastest growing application segments for nanocoatings market owing to the rapidly growing emergence of the automotive sector in Asia Pacific.

North America was a leading region for the nanocoatings market and accounted for more than 35% shares of the market in 2014. U.S. is one of the fastest growing markets for nanocoatings because of the advancement in technology that is utilized for healthcare amenities. Moreover, European nanocoatings market is also projected to witness the remarkable growth owing to stringent regulations regarding VOC emissions. Furthermore, Asia-Pacific -is expected to have significant growth in nanocoatings market due to the cause of the low cost of employment and technological advancements are expected to enhance the market rate within the forecast period.

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Some of the key players associated to the global nanocoatings market include P2i Ltd, Nanovere Technologies LLC, Nanofilm Ltd., Nanogate AG, Nanophase Technologies Corporation, Integran Technologies Inc., Inframat Corporation, Cima NanoTech Inc., Buhler PARTEC GmbH and Bio-Gate AG.