Global $6.27 Billion Smart Coatings Industry: Market Forecast Report 2018-2022 - Growing Demand From End-Use Industries - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jun 14, 2018--The “Smart Coatings Market by Function, Layer, End-Use and Region - Global Forecast to 2022” report has been added to ResearchAndMarkets.com’s offering.
The smart coatings market is estimated at USD 2.15 Billion in 2017 and is projected to reach USD 6.27 Billion by 2022, at a CAGR of 23.87%.
The market is driven by the wide use of smart coatings in different end-use industries, such as automotive & transportation, aerospace & defense, marine, and building & construction. The high demand for anti-corrosion coatings from the automotive & transportation end-use industry, especially for the protection of body parts, such as door closures, lock parts, exhausts, suspensions, engine components, and clamps & hose connections, against abrasion, drives the smart coatings market.
The demand for smart coatings in the automotive & transportation, aerospace & defense, marine, and building & construction end-use industries is high, especially in China, India, and Brazil. New emerging technologies and innovations drive the demand for smart coatings in these industries. The APAC smart coatings market is expected to witness strong growth in the next five years.
Smart coatings have distinct properties, and different types of smart coatings are used in various industries based on the requirements. Therefore, the smart coatings market growth is dependent on its various end-use industries, such as automotive & transportation, aerospace & defense, marine, and building & construction.
There is a growing demand for smart coatings for anti-corrosion, anti-fouling, self-cleaning applications from the end-use industries. On the other hand, government regulations and economic slowdown negatively affect the market growth.
Price and availability of raw materials are key factors for the manufacturers of smart coatings in determining the cost structure of their products. Raw materials used by the smart coatings industry include methylamines and inorganic chemicals.
DriversGrowing Demand From End-Use Industries Superior Properties of Smart Coatings
OpportunitiesIncreasing Demand for Products Requiring Low Maintenance
ChallengesLow Durability in Extreme Weather Conditions
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Smart Coatings Market, By Layer
7 Smart Coatings Market, By Function
8 Smart Coatings Market, By End-Use Industry
9 Smart Coatings Market, By Region
10 Competitive Landscape
11 Company Profiles3M Additional Companies Akzonobel Ancatt Axalta Coating Systems CG2 Nanocoatings DOW Corning Corporation Greenkote Helicity Technologies Hempel Hygratek Jotun NEI Corporation Nanoshell Company PPG Industries RPM International Royal DSM Sherwin-Williams Tesla Nanocoatings
For more information about this report visit https://www.researchandmarkets.com/research/f5dp3f/global_6_27?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180614005690/en/
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Related Topics:Paints and Coatings
INDUSTRY KEYWORD: TRANSPORT MARITIME MANUFACTURING AEROSPACE AUTOMOTIVE MANUFACTURING CHEMICALS/PLASTICS CONSTRUCTION & PROPERTY OTHER CONSTRUCTION & PROPERTY
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 06/14/2018 10:20 AM/DISC: 06/14/2018 10:20 AM