Nanocoatings Market Size, Key Factors, Major Players, Growth Strategies, Trends, Forecast Till 2028
October 14, 2021
Reports And Data
The nanocoatings market size is expected to reach USD 27.97 Billion in 2028 and register a revenue CAGR of 18.3% over the forecast period.NEW YORK CITY, NY, UNITED STATES, October 14, 2021 /EINPresswire.com/ -- Reports and Data has recently added a new report titled “Global Nanocoatings Market Research Report 2021” to its ever expanding repository which offers a comprehensive overview of the Nanocoatings market including current and emerging trends, consumer behavior patterns, competitor strategies, brand promotions and product launches, among others. Surge in demand for nanocoatings from the healthcare sector globally is a key factor driving steady market revenue growth.
Nanocoatings are used for the protection of electronic devices such as solar panels from dust and dirt, smartphones from water, as well as to prevent degradation of devices in harsh conditions. Nanocoatings offer resistance from fluctuations in varying temperatures, which make them popular in products that are susceptible to adverse impacts in harsh climatic and temperature change conditions. However, high cost associated with these products is expected to negatively impact revenue growth of the market to a certain extent over the forecast period.
Rising concerns regarding Volatile Organic Compound (VOC) emissions from conventional coatings is another key factor driving growth of the nanocoatings market. Nanocoatings are used in products/components used in electronic devices such as batteries, Microelectromechanical Systems (MEMS), semiconductors, transistors, fuel cells, and various implants, as well as across medical, automotive, pharmaceutical, marine, and telecommunications industries for various applications. The number of Internet of Things (IoT) devices are expected to reach 50 billion by 2030, thereby creating a vast web of interconnected devices spanning from smartphones to kitchen appliances. In the next few years, there will be 53.63 million active smart city connections in the European Union alone. Every component in a connected system is crucial but snow, salt fog, and dust storms are proving to be genuine threats to IoT components. These devices require thin lightweight protection and hence nanocoatings are playing a very important role currently.
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Nanocoatings are inhalable in powder form and the mixture is carcinogenic due to its potential to induce lung cancers when inhaled. This is expected to restrain growth of the market to a certain extent. Moreover, high price volatility of these products is restraining market revenue growth. However, increased application of nanocoatings in landing gears and engines of aircraft, and on money bills to prevent forgery are some factors expected to support market growth.
Some major players in the market include:
Eikos Inc., Buhler PARTEC GmbH, Integran Technologies Inc., Bio-Gate AG, Nanofilm Ltd., Nanoveer Technologies LLC, Cima NanoTech Inc., P2i, Inframat Corporation, and Nanophase Technologies Corporation.
Some Key Highlights From the Report
In March 2020, P2i, which is a leading market player, announced the signing of an agreement with Samsung intended to deploy Barrier nanocoating technology across numerous smartphone designs, enhancing liquid and water protection to the internal components of specific Samsung Galaxy smartphones. P2i's Barrier is a next-generation waterproofing technology, which provides higher levels of liquid protection and allows producers to protect the components, despite water leakage into the device.
Antimicrobial nanocoatings are deployed in bone replacement materials, surgical instruments, and prosthetic devices. Antimicrobial nanocoatings are essential for indwelling catheters, as the device possesses high risk of microbial infection. Biofilms of yeasts and oral bacteria may result in various localized ailments in the oral cavity, such as dental caries, oral thrush, periodontal disease, tooth root & pulp disease, and dental implant dental braces infections, thus making antimicrobial nanocoatings essential in medical devices.
Demand for nanocoatings in electronics devices is high as thousands of electronic devices are used in challenging and diverse environments. These devices require protection against sweat, rain, pollution, submersion, and other potential threats. Demand for protective nanocoatings is expected to increase significantly to safeguard components and solutions. Along with smartphones and laptops, smart home security products also require protection from corrosion, moisture, chemicals, and pollution.
Market revenue from Asia Pacific is expected to register a significantly rapid growth rate during the forecast period due to high demand from Japan, India, China, and South Korea. Large geriatric population in China has created major demand for medical devices. Steady shift to solar panels and power in India to reduce dependency on fossil fuels is also supporting demand for coatings is related applications. Solar devices are coated with nanocoatings to enhance lifespan and reduce degradation rate.
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For the purpose of this report, Reports and Data has segmented the Nanocoatings market based on product type, end-use, distribution channel, and region:
Product Type Outlook (Revenue, USD Billion; 2018–2028)
Anti-Fouling & Easy-to-Clean
End-use Outlook (Revenue, USD Billion; 2018–2028)
Building & Construction
Distribution Channel Outlook (Revenue, USD Billion; 2018–2028)
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Regional Outlook (Revenue, USD Billion; 2018–2028)
Middle East & Africa
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