The nanocoatings market is projected at about USD 8.2 billion by 2020. Its volumes reached 309.5 kilotons (KT) in 2013. They will be almost 1, 263 KT by 2020, exhibiting 22.7% CAGR during the forecast period (2014 to 2020).
Preference for nanocoatings in medical and automotives industries would propel the market. Nanocoatings exhibit ductility, resistance, lubricity, and hardness, giving them an advantage over conventional ones. Low VOC (volatile organic compound) emissions are the main reason for inclination towards nanocoatings. Low gains and high capital should be potential market risks in the years ahead.
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Anti-microbial, self-cleaning, anti-fouling & easy-to-clean, and anti-fingerprint are the products in the nanocoatings market. Anti-microbial is used in medical & healthcare, food manufacturing, packaging, and water treatment. It earned around USD 541.6 million in 2013. Anti-microbial nanocoatings are estimated to grow at 22.9% CAGR in the forecast period.
Anti-fouling & easy-to-clean finds use in marine, automotives, and electronics. Self-cleaning should undergo high growth on account of its lotus water effect. Anti-fingerprint nanocoatings would remain the fastest growing product, exhibiting 23.2% CAGR during the next six years.
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The nanocoatings market has applications in medical & healthcare, automotives, electronics, food manufacturing, water treatment, marine, building & construction, and packaging. Automotives use nanocoatings to retain their gloss, with demand of almost 40 KT for the latter in 2013. Medical & healthcare was the largest application that year and registered a demand of 43.7 KT. This segment can experience 22.7% CAGR over the coming years. It uses nanocoatings to maintain hygiene.
North America led the nanocoatings market, accounting for nearly 129 KT of demand in 2013. Regional budgets coupled with demand for advanced medical facilities & automobiles should be accountable for its future dominance. Europe will grow significantly. This could be in lieu of rising raw material prices of conventional coatings and regulations regarding VOC emissions in the region. Low cost labor & technological advances in Asia Pacific could drive regional demand.
Major players in the global nanocoatings market are Inframat Corporation, Nanogate AG, P2i Ltd., Nanovere Technologies LLC, and Buhler PARTEC GmbH. Most of them focus on product & nanotechnological developments to gain shares and market foothold.
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