Global nanocoatings market was USD 1,495.0 million in 2012. Rising importance of nanomaterials as fillers in automotive and medical industries on account of exhibiting excellent engineering properties is expected to have a substantial impact.
Nanocoatings find use in wide range of applications owing to their ability to exhibit excellent abrasion resistance, good transparency, and superior lubrication. The abovementioned properties along with low VOC emission potential is expected to coax buyers to prefer the nano-based product forms over polymer coatings over the forecast period.
Over the past few years, the U.S. EPA and European Commission have been framing numerous regulations aimed at restricting the VOC emissions in the manufacturing sector. Therefore, nanocoatings marketis projected to witness significant growth regarding consumption in automotive and construction industries in the near future.
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Antimicrobial coatings find application in water treatment, packaging, medical & healthcare, and food & beverage industries for deterring the growth of microorganisms on the surfaces. The product market demand is projected to foresee significant gains in the medical sector on account of providing excellent easy to clean characteristics and anti-fouling properties.
Anti-finger printing coatings are projected to witness significant gains in automotive and construction industries due to their ability providing protection to the applications where fingerprints impair the appearance of a surface. Furthermore, increasing importance for anti-fingerprint protective materials for sand-blasted glass surfaces on account of the ability to reduce the usage of abrasive agents is expected to have a positive impact over the forecast period.
Self-cleaning product forms are projected to find applications in healthcare industry on account of providing a lotus-leaf effect which results in not allowing water retention on the surface. These products are expected to foresee volume growth at a CAGR of 22.2% from 2014 to 2020
Medical was the largest application, accounting for 14.7% of global market share in 2013. Rising demand for medical device coatings for offering excellent dielectric properties, dry-film lubricity, and thermal stability is expected to have a positive impact on nanocoatingsmarket.
Automotive is expected to witness significant gains as a result of increasing importance of nanocoatings for enhancing the gloss and color characteristics of interior parts of four wheelers. Furthermore, improving automobile production in the developed markets including U.S., Germany and UK owing to the increasing usage of four wheeler vehicles on a domestic level is expected to be a favorable factor.
North America accounted for over 40% of global market volume share in 2013. Rising importance of the anti-microbial properties in healthcare and packaging industries of the U.S. is expected to have a positive impact. Furthermore, the positive outlook toward automotive manufacturing industry in Mexico owing to new investments by Nissan is projected to be a driving force.
Asia Pacific is projected to remain one of the most lucrative markets on account of Infrastructure improvement in China and India amid the supportive policies by national governments. Furthermore, the firm foothold of nanotechnology research institutes in Japan and South Korea is expected to allow the new establishment of strategic partnerships by nanocoatings vendors over the next few years.
Key industry participants include Nanofilm Ltd., Inframat Corporation, Eikos Inc., Bio-Gate AG, P2i LTD., Nanogate AG, CimaNanoTech Inc., Integran Technologies Inc., Buhler PARTEC GmbH, Nanovere Technologies LLC and Nanophase Technologies Corporation.
High investment cost aimed for R&D along with increased spending on the established partnerships with technological institutions is projected to remain a key challenge for the industry. Furthermore, the low adoption rate of nanocoatings in developing markets including India and Mexico on account of their high price as compared to the conventional polymer counterparts is expected to have an adverse impact over the forecast period.
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Nanocoatings Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
• Anti-Fouling and Easy-To-Clean
• Self-Cleaning (Bionic and Photocatalytic)
• Others (Includes Specialty Coatings, etc.)
Nanocoatings Applications Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
• Medical & Healthcare
• Food Manufacturing
• Water Treatment
• Buildings & Construction
• Others (Including textiles/leather, industrial engineering etc.)
Nanocoatings Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
• North America
• Asia Pacific
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