Global Nanocoatings Market, Analysis & Forecasts, 2017-2026

Market Overview

With the advent of the technological era, paints and coatings have become an integral part of various end-use industries such as manufacturing, medical & healthcare, marine and automotive, among others. Earlier, paints and coating were used only for decorative purposes but over the years, end-user industries have realised that paints and coatings can be made functional to endow substrates with various desirable properties such as anti-corrosiveness, smudge protection, U.V. protection and others. Conventional paints and coatings industry use various chemicals including the toxic hexavalent chromium to derive such properties. But, with the raising concern for the environment, industries have started to look for greener solutions as most of these chemicals are non-biodegradable, polluting and harmful for the environment. Nanocoatings are a perfect solution to these issues and are a more efficient when compared to conventional nanocoatings. Nanocoatings consists of various nano sized particles which endow substrates with different desirable properties.

In terms of value, the global nanocoatings market size was estimated to be $3,567.0 million in 2016, and is expected to grow at a CAGR of 23.0% between 2016 and 2026. In terms of volume, market size of the global nanocoatings market was estimated to be 593.0 kilotons in 2016 and is expected to grow at a CAGR of 24.5% through the forecast period.

The growth is attributed to the superior properties that the nanocoatings provide compared to the conventional coatings, industrialization in the APAC region, and increasing demand in the various end-user industries. Stringent environment regulations, harmful effects of nanocoatings on human health and non-uniform pricing of nanocoatings and raw materials are some of the factors that are hampering the growth of the nanocoatings market. In spite of the restraining factors present in the industry, there are a number of opportunities for the market to flourish. Development of new end user applications, growing demand from emerging economies and the switch from conventional coatings to eco-friendly nanocoatings are few such factors.

The nanocoatings market can be classified by nanocoating types which include self-cleaning (bionic), self-cleaning (photocatalytic), anti-fingerprint, anti-microbial, anti-fouling and easy to clean, abrasion and wear resistant, UV resistant, anti-icing, flame retardant, anti-corrosion and conductive nanocoatings. Self-cleaning photocatalytic nanocoatings segment was the largest and is expected to grow at a CAGR of 23.0% between 2016 and 2026. This can be primarily attributed to the extensive use of photocatalytic nanocoatings in the construction industry.

The nanocoatings market revolves around the major end-use industries which include electronics, aerospace, food and packaging, automotive, medical and Healthcare, building and construction and marine, among others. Medical & healthcare was the largest end-user industry in the global nanocoatings market in 2016, accounting 19.1% of the total market size by volume. This growth can be primarily attributed to the multiple applications of nanocoatings in the healthcare industry; some of which include microorganism growth prevention, implant coatings, and anti-bacterial textile. Further, the market has been cross segmented focusing on region by end-user industries for the nanocoatings market.

The trends of the nanocoatings market varies with different geographical regions. The nanocoatings market holds a prominent share in various countries of Asia-Pacific (APAC), North America, Europe, South America, and Middle East and Africa. North America accounted for the largest market share of 39.8% in the global nanocoatings market. This was primarily due to the presence of large number companies in the region and the high adoption in the end-user industries. Optitune, Tesla Nanocoatings, DryWired, P2i Ltd. and Semblant are some of the companies operating in the region. 

The competitive landscape for the nanocoatings market demonstrates an inclination towards companies adopting strategies to expand their business and focusing on research and development activities. Some of the major established players in the nanocoatings market, are focusing more on business expansion to keep a strong hold on the market. Bio-Gate AG, Buhler AG, Nanogate AG, Nanophase Technologies Corporation, AdMat Innovations Pvt. Ltd., Nanomech Inc., Surfix BV Advanced Nanocoatings, Telsa Nanocoatings Inc., Nano-Care AG, Nanofilm Ltd., Nanovere Technologies LLC, Integran Technologies, P2I Ltd., Inframat Corporation, Aquashield Technologies and Eikos Inc. are some of the prominent companies in the global nanocoatings market. These companies are actively aiming at an increased number of agreements, partnerships, & collaborations, and products to expand their operations, thereby, enhancing their share in the nanocoatings market. These companies expanded their business in different countries to expand their customer base in the market.

The need for more R&D and appropriate regulatory environments is a prerequisite for sustained growth of this market. Various government and private research institutes, and regulatory bodies and associations are putting in substantial efforts to identifying how nanocoatings can be used in emerging applications such as food & packaging without harming humans and the environment. Electronics is another end-user industry which is employing nanocoatings for flexible screens and to protect touch screens from finger print and dust smudges. The applications of nanocoatings are endless and with proper research and development, it will become an integral part of various end-user industries.