Nanocoatings Market Trends

Growth Drivers

• Rapid Advancements in Nanocoatings- The transition from conventional coating to nanocoatings for various applications across several verticals has emerged as an efficient and economical technique for excellent protection against corrosion and biofouling. Over the years, continuous advancements in nanotechnology has resulted in the development of unique nanocoatings formulations, improving their performance and expanding their usage. For instance, in April 2024, a research team from TU Wien and Università Politecnica delle Marche, Italy announced the launch of special titanium oxide nanoparticles, that can add to any wall paint to establish self-cleaning power.
  
  Another instance was in January 2021, when Nasiol, a hydrophobic nano ceramic coatings manufacturer announced the launch of three renewed nanocoatings products to protect electronic devices, footwear, clothes, and other accessories against several damages.
• Growing demand for nanocoatingss for solar panels- Nanocoated solar panels can increase the amount of light that is absorbed and converted into power by reducing light reflection. Dust and dirt do not stay on the solar panels due to its hydrophobic properties. The demand for nanocoated solar panels has drastically increased and key players are investing to enhance the solar panel manufacturing facility.

Challenges

• Fluctuating prices of raw materials and high cost of manufacturing- Though the raw materials needed for manufacturing nanocoatingss vary depending upon the application, nanoparticles such as silica, titanium dioxide, zinc oxide, along with binders, resins, solvents, and UV stabilizers are commonly used. The costs associated with these materials also vary depending on the application and technology. In addition, the production of nanocoatingss requires sophisticated technology and equipment that ensures uniform particle dispersion and coating application. These are key factors that can negatively impact the market growth going ahead.
• Competition from alternatives- The prices of conventional coatings are much lower than those of nanocoatingss. Thus, consumers prefer other lower upfront costs, especially for projects with tight budgets. Moreover, conventional coatings are widely available at several suppliers and manufacturers, making them easy to source and purchase.