Market Overview 2022-2027
The latest research study “Smart Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global smart coatings market reached a value of US$ 1.88 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 6.24 Billion by 2027, exhibiting a CAGR of 21.60% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Industry Definition and Application:
Smart coatings are the unique films that sense and respond to external or environmental stimuli, such as moisture, pH, chloride ion concentration, mechanical damage, temperature, redox activity, etc. They are made using responsive materials comprising of unique chemical, physical, mechanical, and electrical characteristics. Smart coatings can help improve the efficiency of a system by reducing inspection time, maintenance costs, equipment downtime, etc. Besides this, they have self-healing and self-repair properties, owing to which smart coatings are suitable for material protection, corrosion resistance, and other surface improvement applications. As a result, they are widely used in the healthcare, textile, transportation, marine, aerospace, and electronics sectors across the globe.
Global Smart Coatings Market Trends and Drivers:
The development of environmentally-friendly product variants and the expanding construction industry are primarily driving the smart coatings market. In addition to this, the launch of smart coatings that contain metal and metal oxide nanoparticles, which offer numerous functional properties, including high surface area, magnetic resonance relaxation, electronic susceptibility, etc., is further catalyzing the market growth. Moreover, the increasing popularity of anti-corrosion variants in the automotive sector for the manufacturing of scratch-free vehicles is acting as another significant growth-inducing factor. Apart from this, the growing product usage in fasteners, body hardware, door closure, exhausts, suspension, engine components, clamps, hose connections, lock parts, etc., is expected to fuel the smart coatings market over the forecasted period.
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|Smart Coatings Market Report Scope|
|Market size value in 2021||US$ 1.88 Billion|
|Market forecast in 2027||US$ 6.24 Billion|
|Growth Rate||CAGR of 21.60% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Layer Type, Function, End Use Industry and Region|
|Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Key companies profiled||3M Company, A&K Painting Company, Ancatt Inc, BASF SE, Dupont De Nemours Inc., Jotun A/S, NEI Corporation, PPG Industries, RPM International Inc., Tesla NanoCoatings Inc., The Lubrizol Corporation (Berkshire Hathaway Inc) and The Sherwin-Williams Company.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization preview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
The report has been segmented the market into following categories:
Breakup by Layer Type:
Breakup by Function:
Breakup by End Use Industry:
- Building and Construction
- Aerospace and Defense
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
List of Major Key Players:
The major players in the market are 3M Company, A&K Painting Company, Ancatt Inc, BASF SE, Dupont De Nemours Inc., Jotun A/S, NEI Corporation, PPG Industries, RPM International Inc., Tesla NanoCoatings Inc., The Lubrizol Corporation (Berkshire Hathaway Inc) and The Sherwin-Williams Company.
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