Indonesia Smart Coatings Market Forecast 2021-2026
The Indonesia smart coatings market is anticipated to develop with a CAGR of 24.37% during the forecasted period. The market growth of the country is accredited to the accelerated rates of urbanization, the huge population base, the augmenting automotive industry, and the rapidly rising middle class. While the base year considered for the studied market is 2020, the forecasting years are from 2021 to 2026.
Smart coatings are resourcefully equipped for diverse applications. Besides, there exists a certain extent of appeal in terms of being able to respond to multiple cycles spanning over several years. From the use of micro- to nano-particle formulations, in addition to the combinations of inorganic and organic phases, smart coatings have displayed superior properties compared to traditional coatings. Moreover, the utilization of materials at the nanoscale has significantly contributed to the improved performances of smart inhibiting materials compared to macro-and micro-particles.
The automotive industry in Indonesia is witnessing steady growth across the country’s paints and coatings sector. Presently, Indonesia is the second-largest automotive manufacturer in the Asia-Pacific, following Thailand. According to industry sources, the production of passenger vehicles is estimated to reach nearly 2.2 million by 2022, resulting in lucrative growth opportunities for automotive paint and coating developers. Furthermore, recent investments within Indonesia’s automotive segment by leading international producers are anticipated to steady the demand for smart coatings over the upcoming years. Thus, these factors are set to fuel the market growth in Indonesia during the forecasting period.
Some of the key companies operating in the country’s market are PT Propan Raya Icc, PT Kansai Paint Indonesia, PT TOA Coating Indonesia, etc.
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• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
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