Nanocoatings Market Hits USD 8.17 billion by 2020.: By Grand View Research, Inc.

The global nanocoatings market size was estimated at 309.5 kilo tons in 2013. Rising inclination towards the use of advanced nanomaterials in automotive and medical industries has led to an increase in the usage of nanotechnology, in turn boosting the growth of nanocoatings market.

Nanocoatings are nanotechnology-based coatings possessing unique properties such as ductility, lubricity, hardness, abrasion resistance, and transparency, unlike conventional polymer coatings. The market is expected to be driven majorly because of a shift in demand for the product over conventional polymer coatings owing to their extraordinary properties and lower volatile organic compound emissions.

Rising consumer awareness about self-cleaning and anti-microbial coatings in aerospace and mechanical applications to enhance the life spans of functional parts will augment the growth of the product over the forecast period. The global nanocoatings industry is estimated to be worth USD 8.17 billion by 2020.

Nanocoatings are available in numerous forms exhibiting functionalities such as self-cleaning, anti-fingerprint, anti-fouling & easy-to-clean and anti-microbial. Anti-fingerprint coatings are anticipated to witness significant gains with an estimated CAGR of 23.2% from 2014 to 2020, due to their extensive use in electronics and automotive applications.

Global nanocoatings market volume, by product, 2012 - 2020 (Kilo Tons)

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Anti-microbial coatings are majorly used in the food manufacturing, water treatment, building & construction, packaging, and medical & healthcare sectors to avoid the spread of harmful microbes. As of 2013, demand for these coatings was 90.9 kilo tons generating USD 541.6 million and is anticipated to grow at 22.9 % CAGR over the forecast period.

Self-cleaning coatings include photo catalytic and bionic products and are predicted to grow as they provide high water repellence which helps in retaining gloss and color. Easy-to-clean and anti-fouling coatings are expected to increase significantly with their increasing use in marine, food, electronics and automotive applications.

Demand for the product in medical & healthcare applications was 43.7 kilo tons in 2013. Increasing usage of anti-microbial nanocoatings and anti-fingerprints coatings owing to their differentiating properties are being extensively used in patient care facilities. This segment is expected to witness significant gains at 22.7% CAGR from 2014 to 2022. Demand in automotive applications was 39.8 kilo tons in 2013. Positive outlook towards the automotive industry is anticipated to bolster growth over the forecast period.

North America demand was 128.7 kilo tons in 2013 contributing to over 40% of the global market. The market is likely to witness growth owing to the growing requirement for the product in healthcare applications. Technological advancements have led to better healthcare amenities and increasing demand in the automotive sector in the U.S. have given a boost to the market.

Adoption of nanocoatings in European countries is likely to increase owing to price hikes of raw material and strict regulations concerning VOC emissions released from paints & coatings industry. Expansion of the electronics, healthcare and automotive industries in Asia Pacific due to innovative technologies and cost-effective labor is anticipated to drive the market demand.

Key market participants include Bio-Gate AG, P2i Ltd, Nanofilm Ltd., Buhler PARTEC GmbH, Nanophase Technologies Corporation, Nanogate AG, Integran Technologies Inc., Eikos Inc., Inframat Corporation, Cima NanoTech Inc., and Nanovere Technologies LLC.

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About Grand View Research, Inc:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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