Nanocoatings Market to Cross $65.48 billion Revenue by 2030

Nanocoatings Market Overview

“The Nanocoatings Market Predictable at $11.56 billion in 2022, is estimated to increase at a CAGR of 17.9% from $18.56 billion in 2023 to $65.48 billion by 2030.”

Nanocoatings are a protective layer applied to surfaces to shield them from external environmental factors such as dirt, corrosion, and dust. These coatings create a thin layer that absorbs all external impressions, such as moisture, friction, germs, water, and heat radiation. The coating can be a chemical or material applied to the surface to be protected.

The building and construction industry is increasingly using nanocoatings due to the risk of damage and corrosion. These coatings conserve construction materials, making them more sustainable. The abrasion resistance of nanocoatings extends the life of materials, making them highly sought after in the industry. These abrasion-resistant goods provide a premium experience to consumers while keeping finished product costs low. This growth phase is a significant phase for the market.

The automotive industry uses chemicals and materials to create premium products and protect them from environmental effects. The pandemic's onset significantly impacted the market due to a diminished workforce. Government measures, such as lockdowns, have been implemented to address the issue, but the pandemic severely affected demand and supply chains, highlighting the need for continued innovation and adaptability in the automotive industry.

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Key Takeaways

In 2022, North America held 35% of the market.

In 2022, Europe will own 26.7% of the market.

In 2022, the electronics segment will account for 27% of the market.

The self-cleaning (bionic & photocatalytic) segment has the largest market share in 2022.

Market Dynamics

Growth Factors

Nanocoatings are gaining market attention in the construction and building industry due to their ability to protect against environmental influences like UV radiation and moisture, which significantly affect the final product's quality. These coatings offer resistance to corrosion, abrasion, and staining, enhancing the durability of structures.

Hydrophobic coatings are utilized in construction and building industries to protect materials from moisture and rust, extending their shelf life. In the healthcare sector, nanocoatings are widely used due to contamination risks, with self-cleaning properties used to prevent hospital-acquired illnesses during surgeries.

Hospital-acquired infections are a major cause of complications, especially in the elderly population. The use of nanotechnology in the automobile sector has increased vehicle demand and supply, primarily for anti-fingerprint and anti-corrosion properties in interiors and electronics. This has led to increased vehicle supply.

Growth Drivers

A rise in demand from the construction sector -

Nanocoatings enhance material durability by making it resistant to external environmental effects, such as abrasion, corrosion, and discoloration. They provide remarkable properties, elevating the material's value. High-quality nanocoatings protect infrastructure from UV rays, rain, and moisture, resulting in longer-lasting construction and significantly increasing the end product's durability.

Increasing Demand from the Automotive Industry to Support Growth

Nanomaterials are commonly used in hybrid products in the automotive industry for increased durability, hardness, self-healing, and self-cleaning. These coatings provide thermal barrier, insulation, anti-fingerprint, and conductive properties. The increasing use of automotive displays and human-machine interfaces in premium vehicles by automakers like Hyundai, Ford, Tesla, and Mercedes is driving market expansion.

In January 2020, Australian company P2i Ltd introduced a new range of halogen-free solutions to protect vehicles from corrosion, catering to the growing demand for improved surface protection solutions in luxury vehicles and automobiles.

Trends

There have been substantial developments in building technology that are environmentally friendly and sustainable throughout the previous decade. Green building is one of the most contemporary technologies that promotes sustainability and environmental awareness. The use of nanotechnology in green buildings focuses on energy conservation, waterproofing, corrosion resistance, and VOC-eating nanocoatings. Nanofilms are used in green building windows and glass by companies such as Saflex and 3M. These films absorb thermal energy, lowering the amount of heat that enters the building.

Coatings, as molecular structures, can revolutionize insulating systems by outperforming traditional materials like fiberglass and polystyrene. Even a few thousandths of an inch thick, their air-trapping impact can be dramatic. The growing adoption of green infrastructure is expected to contribute to the global growth of nanocoatings market during the forecast period.

Opportunities

The automotive sector is increasing its demand for nanocoatings.

Nanocoatings are used in modern automobiles to provide a protective layer over vehicle surfaces, making them resistant to external weather conditions and imprints. This coating increases the longevity of products by acting as thermal barriers, providing maximum protection against adverse climatic conditions. Manufacturers like Mercedes, Hyundai, Tesla, and Ford use this technology on a large scale, allowing the market to grow significantly.

Competitive Landscape of the Nanocoatings Market

• Bio-Gate AG
• Buhler PARTEC GmbH
• Cima NanoTech Inc.
• Eikos Inc.
• Inframat Corporation
• Integran Technologies Inc.
• Nanofilm Ltd.
• ACTnano(Massachusetts, U.S)
• Tesla Nanocoatings Inc (Ohio, U.S)

Recent Developments in Nanocoatings Market

In April 2021 - a significant milestone was achieved by the company of Actnano in the year 2020 as it received a contract of production of 1.2 million vehicles under its brand of nano guard. A variety of autonomous vehicles were also included in this particular contract.

In January 2021, Tesla Nanocoatings launched a new technology combining carbon nanotubes for worker’s safety. The product NANO non-skid is Teslan 1105 Zn-CNT Single Coat Deck Epoxy. It incorporates carbon nanotubes together with sacrificial Zinc and non-skid aggregate  to provide enhanced durability.

In October 2020, Nanocoatings startup ActNANO raised USD 12 Million in series A round. The company is planning to expand its teams in Asia and Europe to meet the customer demand.

Regional Insights

North America is the largest market for nanocoatings due to its widespread demand and application across various industries. The rapid adoption of modern technology in this region is a significant growth factor. The region's large construction activities offer potential for market expansion. As people's buying power increases, so does their demand for luxury items, further enhancing the potential for the nanocoatings industry.

The region's premium automobile usage has significantly increased the use of nanocoatings. Construction and infrastructure spending are key development factors, while the government's focus on sustainable development has boosted demand. The expanding aircraft industry is also a significant growth driver for the nanocoatings market.

The electronics industry has significantly contributed to the growth of luxury items due to high demand, with top market players' research and development initiatives playing a crucial role in this growth.

Segments Covered in the Nanocoatings Market

Nanocoatings Market By Type

• Anti-fingerprint
• Anti-microbial
• Anti-corrosion
• Abrasion & Wear Resistance
• Anti-fouling
• Self-cleaning
• UV Resistance
• Anti-icing
• Thermal Barrier & Flame Retardant
• Conductive
• Others

Nanocoatings Market By Coating Methods

• Cvd
• Pvd

Nanocoatings Market By Raw Material

• Al2 O3
• Ti O2

Nanocoatings Market By Application

• Health Care
• Aerospace
• Automotive
• Textiles
• Construction
• Electronics
• Food & Packaging
• Energy
• Marine
• Others

Nanocoatings Market By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

Frequently Asked Questions:

What is the current size of nanocoatings market?

The Nanocoatings Market Predictable at $11.56 billion in 2022, is estimated to increase at a CAGR of 17.9% from $18.56 billion in 2023 to $65.48 billion by 2030.

What will be the CAGR of global nanocoatings market?

The global nanocoatings market is poised to grow at a CAGR of 17.9% from 2023 to 2030.

Who are the prominent players operating in the nanocoatings market?

The major players operating in the nanocoatings market are Bio-Gate AG, Buhler PARTEC GmbH, Cima NanoTech Inc., Eikos Inc., Inframat Corporation, Integran Technologies Inc., Nanofilm Ltd.

Which are the driving factors of the nanocoatings market?

Increasing demand from the construction sector, increasing demand for hygiene and increasing premium vehicles are driving the growth of the nanocoatings market.