Smart Coatings Market size was over USD 3.85 billion in 2023 and is anticipated to cross USD 55.6 billion by 2036, witnessing more than 22.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of smart coatings is estimated at USD 4.55 billion.
Presently, market is thriving on the back of its advantages and unique properties, henceforth gaining popularity in the commercial segment. The smart coatings has various advantages as it can be used for a wide variety of applications that include protective as well as decorative purposes. It might act as a barrier coating to protect the material from weather, UV rays or corrosion or it could be an indicator coating that can changes its colour on damage, Moreover, it contains self-healing properties in case of a jet engine or oil and gas platform. Besides, it could be a decorative coating film on a car that can change the pattern based on different temperatures.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
22.8% |
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Base Year Market Size (2023) |
USD 3.85 billion |
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Forecast Year Market Size (2036) |
USD 55.6 billion |
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Regional Scope |
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The market is growing at a stable rate owing to distinctive characteristics of this material. It is being adopted by various end-user industries for a large number of applications such as defence, construction, hospitals, automobiles, and others. Based on the application, the global smart coatings market is segmented as anti-corrosion, anti-icing, anti-fouling, anti-microbial, self-cleaning, and self-healing. On the basis of this, the self-cleaning segment is anticipated to dominate the market owing to the large demand for self-cleaning material for both industrial use as well as domestic use. Additionally, based on the product segment, the multi-layer segment is expected to witness significant growth in terms of revenue, owing to the increasing demand for multi-layered coatings for surface protection and external applications in aerospace and automotive industry. The growing usage of this material is a major factor is driving the world’s leading manufacturers to invest in smart coatings market. Moreover, consumers are also willing to pay exceptionally high prices for smart coated products owing to the advance applications of the smart coating materials. Further, high investments in R&D are predicted to develop and increase the application of smart coatings. For instance, researchers at the NASA have developed a smart and environmentally friendly coating system, which can be used for early detection and inhibition of corrosion as well as self-healing of damages without external intrusion. This coating can detect and respond autonomously at the inception of corrosion and control it. Such developments are anticipated to propel market growth in future.
Our in-depth analysis of the global market includes the following segments:
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Product |
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By Application |
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By Sensing |
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End-User |
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On the basis of regional analysis, the global smart coating market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Based on region, the market in
Asia Pacific industry is anticipated to dominate majority revenue share by 2036, backed by the rapid industrialization and urbanization, coupled with growing economies and large investments into major end-user industries such as automotive, construction, consumer electronics, and defence. Additionally, the government plans to uphold infrastructure development along with increasing demand for smart coatings across countries such as India and China, the growth of the market in the region during the forecast period is predicted to rise significantly. Furthermore, the market in North America is expected to witness considerable growth owing to the large industrial setups in North American region coupled with the higher demand for smart coatings in the automotive, healthcare, and construction industries.
April 20, 2020: AkzoNobel N.V. and BYK-Gardner developed pioneering technology which can digitally control and measure the colour and gloss, as well as analyse the 3D topography of the surface texture of powder coatings. A new product, named spectro2profiler, was launched on April 10, 2020. This can digitally analyse the quality of the surface texture of powder coating which is more effective and efficient than conventional visual inspection.
Author Credits: Rajrani Baghel
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