According to the report published by Allied Market Research, the global nanocoatings market generated $10.7 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030.The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Rise in the application of nanocoatings in various industries such as automotive, marine, electronics, building & construction, increase in reliability of nancoatings due to the presence of lower volatile organic contents, and significant surge in the automotive industry are expected to drive the growth of the global nanocoatings market. On the other hand, exorbitant costs associated with nanocoatings are projected to hinder the growth to some extent. However, persistent technological advancements in touch-based technology are anticipated to create ample opportunities for the growth of the industry.
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The key players analyzed in the global nanocoatings market include Admat Innovations, Surfix BV, Nanomech Inc., EIKOS Inc., CIMA Nanotech, Buhler AG, Nanogate AG, Nanophase Technologies Corporation, Duraseal Coatings Company LLC, Bio-Gate AG.
- The outbreak of COVID-19 has had a negative impact on the growth of the global nanocoatings market, owing to the occurrence of lockdowns in numerous countries across the globe. Lockdowns led to the closure of various end-use industries around the world, including those of nanocatings.
- In addition, stringent import and export restrictions were imposed by several government bodies which led to disruptions in raw material transportation.
- However, the market is expected to recoup soon.
The report offers a detailed segmentation of the global nanocoatings market based on type, application and region.
Based on type, the self-cleaning (bionic & photocatalytic) segment generated the highest market share in 2020, garnering more than one-third of the total market. The anti-corrosion segment, on the other hand, is anticipated to cite the fastest CAGR of 9.4% during the forecast period.
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Based on application, the electronics segment held the majority share in 2020, holding nearly one-fifth of the total market. The automotive segment, on the other hand, is expected to exhibit the fastest CAGR of 7.5% during the forecast period.
Based on region, the market across North America held the lion’s share in 2020, garnering nearly two-fifths of the global market. The Asia-Pacific region, on the other hand, is expected to exhibit the fastest CAGR of 7.1% during the forecast period.
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