Global Nanocoatings Market 2017-2021
Nanocoatings are represented as an interface between the product and environment. It determines the specific properties of a product such as anti-corrosion, self-cleaning, chemical and scratch resistance. In simple terms, nanocoatings are those coatings that are nanostructured. It means their thickness can easily be measured in nanometers. Nanocoatings are being used because of their hydrophobicity, radiation hardness, and corrosion resistance.
Technavio’s analysts forecast the global nanocoatings market to grow at a CAGR of 25.62% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global nanocoatings market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Nanocoatings Market 2017-2021
Technavio recognizes the following companies as the key players in the global nanocoatings market: BASF, Bio-Gate, Buhler, Nanogate, and PPG Industries.
Other Prominent Vendors in the market are: AdMat Innovations, Cima NanoTech, CG2 NanoCoatings, Cleancorp, Ecological Coatings, Eikos, Inframat, Integran Technologies, Nanofilm, Nanomech, Nanovere Technologies, Nanophase Technologies, P2i, Surfix, and Tesla NanoCoatings.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Demand in automotive sector. With the increase in the demand for automotive, the demand for nanomaterials used in nanocomposite coatings is also increasing. Nanocoatings in automobiles are used to increase the strength and durability of the vehicle components. The demand for AFP nanocoatings is increasing in the automotive sector because of the incorporation of touch panel displays. Nanocoatings are used to increase the lifespan of a component by reducing wear and friction. They also increase the efficiency of the vehicle by reducing the dissipation of energy in the form of heat. This increases the overall productivity of the vehicle, reducing the manufacturing cost, and lubricant consumption.”
According to the report, one of the major drivers for this market is Application in high-end industries like oil and gas. Nanocoatings and nanomaterials have increased application in high-end industries such as oil and gas and consumer electronics. As these industries indulge in products that involve huge capital investments, they do not compromise on the product performance. These industries employ technologies that can enhance the overall performance of the product. The use of simple coatings in such machinery and products can damage the product and manufacturers are focusing on preventing such damages.
Further, the report states that one of the major factors hindering the growth of this market is Huge capital risk involvement. The nanocoatings market is capital-intensive. It involves huge investments at the initial stages. Before fixing any nanomaterial to be used in nanocoatings, it is difficult for the manufacturer to decide on its cost benefit analysis. Though the volume of each component used in the development of nanocoatings is less, it collectively results in huge costs. Though nanocoatings provide benefits to the product, they increase the overall price of the product. Just like additives are one of the components that are used in less quantity, there are components like binders and extenders that add to the total cost of nanocoatings.
BASF, Bio-Gate, Buhler, Nanogate, PPG Industries, AdMat Innovations, Cima NanoTech, CG2 NanoCoatings, Cleancorp, Ecological Coatings, Eikos, Inframat, Integran Technologies, Nanofilm, Nanomech, Nanovere Technologies, Nanophase Technologies, P2i, Surfix, and Tesla NanoCoatings.