The Nanocoatings Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033)
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According to The Business Research Company’s Nanocoatings Global Market Report 2024, The nanocoatings market size has grown exponentially in recent years. It will grow from $11.12 billion in 2023 to $13.9 billion in 2024 at a compound annual growth rate (CAGR) of 25.0%. The growth in the historic period can be attributed to advances in nanotechnology and materials science, growth in electronics and semiconductor industries, expansion of the automotive sector, increased research and development activities in nanomaterials.
The nanocoatings market size is expected to see exponential growth in the next few years. It will grow to $32.5 billion in 2028 at a compound annual growth rate (CAGR) of 23.7%. The growth in the forecast period can be attributed to growing aerospace and aviation industry, rising healthcare industry, expanding construction and architectural sectors, rise in disposable income. Major trends in the forecast period include green and sustainable nanocoatings, anti-counterfeiting nanocoatings, bio-inspired nanocoatings, industry collaboration
The booming automotive industry is significantly driving the growth of the nanocoatings market. The automotive industry is booming due to various reasons such as rising middle-class income, a huge youth population, rapid urbanization, and others. Nanocoatings are used in automotive vehicles for increasing hardness and durability to protect against scratching, corrosion, and other issues. The booming growth of the automotive industry will increase the usage of nanocoatings as these are an essential part of the vehicle components. For instance, according to the production statistics by the International Organization of Motor Vehicle Manufacturers (OICA), overall motor vehicle manufacturing increased by 3% in 2021 compared to 2020 globally. Global sales of all motor vehicles increased from 78.8 million in 2020 to 82.7 million in 2021. This incremental growth in the production and sales of motor vehicles will invariably increase the demand for nanocoatings to be used in them. Hence, the booming automotive industry is expected to propel the growth of the nanocoatings market.
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The nanocoatings market covered in this report is segmented –
1) By Type: Anti-Microbial, Self-Cleaning, Anti-Fingerprint, Anti-Corrosion, Other Types
2) By Distribution Channel: Online, Offline
3) By End-user: Construction, Food Packaging, Healthcare, Electronics, Automotive, Marine, Other End-Users
4) By Application: Food Manufacturing, Marine Coatings, Water Treatment, Household Care, Other Applications
Technological advancement is a key trend gaining popularity in the nanocoatings market. Technological advancement includes the launch of new technology in nanocoatings such as a new technology combining carbon nanotubes and aggregate to improve and offer better corrosion inhibition, greater durability, and other benefits. The key players in the nanocoatings market are focusing on developing technologically advanced products to strengthen their position in the market. For instance, in January 2021, Tesla Nanocoatings Inc., a US-based carbon nanotechnology firm introduced NANO Non-Skid, a novel technology that combines carbon nanotubes with sacrificial zinc and non-Skid aggregate for worker safety. Teslan 1105 Zn-CNT Single Coat Deck Epoxy is NANO Non-Skid. The ground-breaking new solution is a three-component epoxy that is solvent-based and developed to protect steel and metallic substrates. It offers anti-Skid properties, increased durability, and superior corrosion inhibition.
The nanocoatings market report table of contents includes:
1. Executive Summary
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27. Competitive Landscape And Company Profiles
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