Research Nester released a report titled “Smart Coating Market – Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the global smart coating market in terms of market segmentation by product, by application, by sensing, by end-user industries, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
The global smart coating market is segmented by product, by application, by sensing, by end-user industries, and by region. Based on the application, the global smart coatings market is segmented into anti-corrosion, anti-icing, anti-fouling, anti-microbial, self-cleaning, and self-healing. Out of these, the self-cleaning segment is anticipated to dominate the market owing to the large demand for self-cleaning material for both industrial use as well as domestic use. Additionally, based on the product segment, the multi-layer segment is expected to witness significant growth in terms of revenue, owing to the increasing demand for multi-layered coatings for surface protection and external applications in aerospace, and automotive industry.
The global smart coating market is anticipated to record a robust CAGR during the forecast period, i.e. 2020-2028. Various market key players are engaged in extensive R&D for the manufacture of multi-functional smart coatings. Additionally, various end-user industries such as defence, healthcare, and construction are encouraging the growth of the global smart coatings market around the world owing to the rapid growth and expansion of industries along with the huge investments in the infrastructure facilities. These factors are expected to contribute to the growth of the global smart coating market.
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Based on the regional analysis, the global smart coating market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East &Africa region. Based on region, the market in Asia-Pacific region is anticipated to hold the largest market share on the backof the rapid large investments into major end-user industries along with the government plans to expand the industries and sustain the infrastructure.
Superior Properties of Smart Coatings to Boost the Market Growth
Superior properties of smart coating films or covering such as self-healing, damage detection, and self-cleaning are some factors that are expected to increase the demand for smart coating in end-user industries. This surge in demand by industries is anticipated to cater to significant growth to the global smart coating market during the forecast period. However, the high cost of smart coatings raw materials and harmful effects onthe environment are some of the factors that are estimated to limit the growth of the global smart coating market.
This report also provides the existing competitive scenario of some of the key players of the global smart coating market which includes company profiling of3M(NYSE: MMM), Axalta(NYSE: AXTA), PPG Industries, Inc(NYSE: PPG), Akzo Nobel N.V. (AMS: AKZA), The Sherwin-Williams Company(NYSE: SHW), Covestro AG(ETR: 1COV), Dow(NYSE: DOW), BASF SE(ETR: BAS), Eastman Chemical Company(NYSE: EMN) and AnCatt.
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