Nanocoatings Market size was valued at USD 12.9 billion in 2023 and is estimated to reach USD 73.8 billion by the end of 2036, witnessing over 15.6% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of nanocoatings is assessed at USD 14.9 billion.
The growth of the global market can be attributed to the rapidly expanding building and construction sector and high demand for advanced coating materials in construction. Over the years, construction activities across the globe have drastically increased as a result of rising pollution and urbanization. Nanocoatings is widely used in construction activities as it provides excellent protection against extreme environmental factors such as moisture, pollutants, and UV radiation, thereby extending the lifespan of building materials.
Moreover, they can improve the overall appearance of surfaces, providing a smoother and glossy finish, compared to conventional coatings used in the construction sector. Different types of coatings such as self-cleaning, anti-graffiti, thermal insulators, and anti-bacterial coatings are widely used in modern constructions.
Leading companies are coming up with novel techniques and products, further fueling the market growth. For instance, in July 2023, HeatCure announced its operations in India with the launch of nanotechnology-based glass coating products that block heat gain from glass doors, facades, and windows and also protect against infrared and ultraviolet rays.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
15.6% |
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Base Year Market Size (2023) |
USD 12.9 billion |
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Forecast Year Market Size (2036) |
USD 73.8 billion |
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Regional Scope |
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Type (Anti-fingerprint, Anti-microbial, Anti-corrosion, Abrasion & Wear Resistance, Anti-fouling, Self-cleaning, UV Resistance, Anti-icing, Thermal Barrier & Flame Retardant Conductive)
In terms of type, the self-cleaning segment in the nanocoatings market is anticipated to witness a revenue share of 16.5% during the forecast period owing to rising demand for self-cleaning nanocoatings across various sectors such as electronics, energy, food & packaging, construction, marine industry, military & defense, automotive, aerospace, and healthcare due to its unique properties including super-hydrophilic, photocatalytic, and anti-static.
One of the recent advancements in protective nanocoatingss is the transparent and self-cleaning coatings that are used for several applications such as foldable touchscreens, solar panels, and widows. Self-cleaning nanocoatingss reduce the overall maintenance costs and increase the lifespan of the products. For instance, various types of self-healing nanocoatingss such as polymer-based, nanocapsule-based, and nanoclay-based are widely used in vehicles to enhance durability and aesthetic appeal as these protect against scratches, UV rays, and corrosion, and provide a high-glow finish.
Application (Healthcare, Transportation, Automotive, Aerospace, Textiles, Construction, Electronics, Food & Packaging, Energy, Marine)
Based on applications, the electronics segment is expected to register fast-paced growth during the forecast period. This growth can be attributed to rising need for advanced solutions to protect electronic devices and increasing research activities for developing advanced nanocoatings technology for electronic devices. Nanocoatings systems are used for mass production of several electronic devices including PCBs (printed circuit boards). Nanocoatingss safeguard the PCSs through their ultra-hydrophobic properties including, blocking moisture and repelling liquid and coating flexibility that provides uniform coverage to complicated 3D structures, minimally impacting the performance.
The recent advancements in nanotechnology and the emergence of microelectromechanical systems (MEMS) have opened doors for innovation. For instance, in October 2023, Specialty Coating Systems, a KISCO Company announced the development of a low-pressure plasma polymerized coating system that supports the deposit of nanocoatingss on substrate materials.
Our in-depth analysis of the global market includes the following segments:
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Type |
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Coating Material |
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Raw Material |
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Application |
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North America Market Statistics
North American nanocoatings market is expected to account for the largest revenue share of 33.5% between 2024 and 2036 owing to rapid technological advancements in nanotechnology and nanocoatings. Manufacturers are investing in advanced technologies as there has been a surging demand for advanced materials across the automotive, consumer electronics, construction, and healthcare sectors. Moreover, stringent regulatory norms on volatile organic compounds and rising focus on sustainability are other factors expected to boost North America market growth going ahead.
The U.S. market is expected to register a rapid revenue CAGR throughout the forecast period owing to rising demand for high-performance coating materials with corrosion resistance, self-cleaning, and anti-fouling properties across several sectors and increasing investments to develop these products. For instance, HZO, one of the leading developers of protective nano-coatings for electronics announced the launch of HZO PRO800-PL in January 2020. The new portfolio provides waterproofing protection for electronic devices and features the largest coating chamber in the sector, that applies nanocoatings materials with enhanced speed, precision, and accuracy.
Asia Pacific Market
Asia Pacific nanocoatings market is projected to register a rapid revenue growth during the forecast period owing to rapid economic growth and rising industrial activities in countries including India, China, Japan, Indonesia, and South Korea. As per the reports, the economic growth in APAC increased from 3.3% in 2022 to 4.5% in 2023. Other factors such as increasing awareness about the benefits of nanocoatings over conventional coatings, rising investments in R&D activities, and high focus on reducing environmental impact and complying with VOC emission regulations are expected to further drive the market in this region.
China is one of the fastest-growing markets for nanocoatingss in APAC. The market is significantly expanding due to China’s extensive industrial base and ongoing research and development projects on advancing nanotechnology and nanocoatings. One of the latest inventions in China was by Chinachem and Nano and Advanced Material Institute. In July 2024, they jointly launched a protective window coating made with cutting-edge technology to cut construction waste. The product is expected to cut the loss of upto 30 percent of windows.
The nanocoatings market is quite competitive, comprising leading players operating at global and regional levels. These key players are focused on innovation and sustainability to cater to rising global demand across several industries and are involved in several strategic alliances such as mergers and acquisitions, partnerships, license agreements, and product launches to maintain and enhance their market share. Many players in the market are investing in R&D activities to expand the applications of nanocoatingss into industries such as electronics, textiles, and consumer electronics.
Author Credits: Rajrani Baghel
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