Nanocoatings Market Recent Industry Trends And Developments
The nanocoatings market is gaining traction due to the superflux
demand for advanced materials in medical and automotive industry. Nanocoatings
are developed by using nano technology and possess properties such as
ductility, hardness, abrasion resistance, lubricity, and transparency. They are
better as compared to conventional coatings due to superior properties and
prolonged life span. They are used in end-use industries such as healthcare,
automotive, electronics, and others. The aforementioned factors lead the
projection that the nanocoatings market will observe substantial growth during
the forecast period of 2018–2026.
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Increase in Urbanization to Serve as
Growth Booster for Nanocoatings Market
Rapid
urbanization has led to a voluminous growth of construction sector due to high
demand for buildings in residential and non-residential sectors. A high growth
of construction industries is predicted due to migration of rural crowd and
industrialization. The population across the globe is growing rapidly.
Therefore, there is a constant demand for construction activities. In addition
the demand for automotive and consumer electronics also has taken an upward
rise. All these factors have resulted in high demand for nanocoatings in
construction sector. The rapid growth has resulted in offering lucrative market
opportunities for the players. Thus, the scope for the growth of the
nanocoatings market has increased substantially. Recent market studies by
Transparency Market Research (TMR) found out that about 85% growth in
construction volumes and 57% of growth in nanocoatings market in major
countries such as India, the U.S., and China.
Nanocoatings Market to Gather Sufficient Demand Due to Superior
Physical and Chemical Properties
The nanocoatings
possess superior qualities which have proved to be catalyst in the robust
growth of nanocoatings market. Nanocoatings are produced with precision and
involves thorough process which includes deposition of atoms in a controlled
manner to produce a uniform layer on the surface. Properties of nanocoating
such as abrasion resistance, transparency, corrosion resistance, and ductility
enhance the product quality.
The growing
awareness about using eco-friendly materials is increasing at a rapid rate. The
government bodies of numerous countries are promoting the use of eco-friendly
materials for decreasing the pollution levels. Many industries are switching to
use such materials instead of use of conventional
ones. Nanocoating is preferred compared to conventional coating as it is
eco-friendly, non-toxic, and safe. It provides protection against harmful UV
rays and resists abrasion. These coatings are preferred by automotive
industries because they do not require polishing to maintain their shine.
Hence, all these aspects will have a profound impact on the growth of the
nanocoating market.
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Asia Pacific and Europe Estimated to
Constitute Significant Share of Nanocoatings Market
The global
nanocoatings market can be segmented into regions such as North America, Asia
Pacific, Europe, Latin America, and the Middle East and Africa. The Asia
Pacific and Europe markets are estimated to observe significant growth for the
nanocoatings market. The presence of key manufacturers in the region and the
rising industrialization may serve as vital growth opportunities for the nanocoatings
market in Asia Pacific and Europe.
Major market
players are investing in mergers and acquisitions, joint ventures, and
partnerships to maintain their dominance in the market. R&D activities are
being conducted to innovate and develop new technologies to enhance the
production of nanocoatings. The investors are investing in new machineries to
make the production process fast and easy pertaining to the demand of the
end-user industries. The nanocoatings market is moderately consolidated and is dominated
by a few players.
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The key market players operating in the global market are
Nanovere Inframat Corporation, Technologies LLC. Bio-Gate AG, Cima NanoTech
Inc., Buhler PARTEC GmbH, Eikos Inc. Nanogate AG, Nanophase Technologies
Corporation, and Integran Technologies Inc.
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