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Shifting Consumer Interest Away from Conventional Coatings Boosts Nanocoatings Market

Blog Description

Coatings may not come across as a major industry segment, but they are equally important industrially. They are, in fact, a part of almost every manufactured product. Practically every finished product we see around us requires some kind of coating, either for the purpose of decoration or for safety. For some products, the coating is in fact the main USP of the product, such as the photographic emulsion that is applied to a transparent backing, or the viscous liquids that dry to form a photographic film. A variety of kinds of plastic sheets are also manufactured in a similar manner.

Browse the full Global Nanocoatings Market Report:

While a variety of coatings significantly contribute to the utility and aesthetics of a number of objects, the benefits are often weighed against the environmental cost owing to the presence of volatile organic compounds (VOC) in the majority of coatings in the market today. Nanocoatings, specialty coating substances manufactured by shrinking the ingredients to the molecular level for producing a more effective product, are a bit different. Known to have a lower VOC content than traditional coatings, these coatings are currently a hit amongst eco-friendly consumers. The rising outcry over the high rate of emissions produced directly or indirectly by the coatings industry (directly during the production of coatings and indirectly, as products with a variety of coatings are dumped as wastes) is leading to an increased rate of adoption of nanocoatings.

Although environmental concerns are significantly driving the average consumer away from traditional coatings, many other benefits, such as the anti-microbial and anti-fouling properties and easy to clean nature of nanocoatings are also leading to their increased adoption on a global front.

Stringent Regulations for Coatings Industry in Europe Boost Nanocoatings Market

It is estimated that the global nanocoatings market had a valuation of US$1.4 bn in 2012. A report published by Transparency Market Research (TMR) projects that the market will expand at a remarkable 24.70% CAGR between 2013 and 2019 and reach US$6.7 bn by 2019. A major factor behind the excellent growth prospects of the market is the presence of stringent regulations regarding the emissions produced by the coatings industry in Europe. This is supplemented by the presence of some of the world’s largest automobile manufacturers in the region. With an increased number of automobile manufacturers choosing nanocoatings over traditional coatings, the market for nanocoatings has seen a big boost in demand in the past years.

Browse the full Press Release of Global Nanocoatings Market

Market Marked by Presence of Large Number of Companies

The excellent growth prospects of the nanocoatings industry have prompted many companies to venture into the market. Along with new business ventures, the market has also observed the entry of many big vendors originally from the field of conventional coatings and paints in the past years. With the demand for smart coating on a constant rise from numerous end-use industries such as automobile and construction, and the rising set of applications in fields such as pharmaceuticals, food manufacturing, water treatment, and energy, it is estimated that a larger number of companies will enter the market in the near future. This will make the market, which is already highly fragmented owing to the presence of a large number of small- and mid-sized companies, even more competitive.

Some of the key vendors operating in market are Cima NanoTech Inc., Integran Technologies Inc., Eikos Inc., Nanovere Technologies LLC, Buhler PARTEC GmbH, Nanophase Technologies Corporation, Nanogate AG, P2i Ltd., Bio-Gate AG, Inframat Corporation, and Nanofilm Ltd.