Worldwide Smart Coatings Market is Expected to Create New Prospects in Near Future, Fast Growth Industry - NEI Corporation, PPG Industries.


Posted September 15, 2021 by industryno1

VynZ Research is a global market intelligence company providing research reports.

 
These coatings are made of programmable materials that possess a variety of chemical, physical, mechanical, and electrical properties. The global smart coatings market is growing at a significant rate and is expected to attain considerable growth during the forecast period.

Smart coatings are special films that sense and respond to environmental and external stimuli. These coatings can also respond to changes in light, chemicals, pressure, heat, and other stimuli.

This is attributed to the self-healing and self-repair properties of these coatings which makes them suitable for various purposes such as material protection, corrosion protection, and other improvement applications.

The high demand for anti-corrosion coatings is making it the most dominant and prominent category in the overall market, owing to its rising demand in the automotive and transportation industry for the protection of body parts of vehicles such as lock parts, exhausts, suspensions, door closures, engine components, and others.

The smart coatings market is segmented into anti-corrosion, anti-icing, anti-fouling, self-healing, self-cleaning, and others. All these factors are driving the market growth and are expected to register the highest growth in the market.

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The smart coatings market is segmented into single-layer and multi-layer. The multi-layer coatings category dominated the market, as each layer provides separate functionality, making them popular in the market.

This is attributed to the increasing use of these coatings in the body hardware, lock part, exhaust, suspension, clamps, and hose connections for the protection against abrasion, and others.

The smart coatings market is segmented into automotive and transportation, aerospace and defense, marine, and others. Of all these end-user categories, automotive and transportation is the fastest-growing category and projected to register the highest CAGR during the forecast period.

It also helps in extending the life of components and structures that are made of corrosive materials, hence reducing the repairing need of corroded areas. The various other advantages include the ability to prevent corrosion and are also environment friendly.

Superior properties of these coatings and increasing use in end-user industries are the major factors that are driving the smart coatings market growth. These coatings improve the systems’ efficiency by reducing inspection times, equipment downtime, and maintenance costs.

Asia-Pacific is anticipated to witness the highest growth in the smart coatings market, owing to the rising demand from end-user industries such as aerospace and defense, automotive and transportation, marine, building and construction, and others. The demand is particularly driven from countries such as China, India, Brazil, and others.

Ford Motor Company is interested in functional coatings for light detection and a ranging sensor for autonomous vehicles. Some of the major players operating in the smart coatings market are 3M Company, PPG Industries Inc., AkzoNobel N.V., The Sherwin-Williams Company, RPM International, Axalta Coating Systems, NEI Corporation, Royal DSM, and Helicity Technologies.

Source: VynZ Research
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Last Updated September 15, 2021