Smart Coating Market Trends

 Growth Drivers

• Superior characteristics of smart coatings
  A surge in demand is anticipated for smart coatings materials, owing to the various applications and advanced characteristics such as self-healing, damage detection, self-cleaning, and corrosion resistance. Besides, advanced coatings applied in aircraft and jets can intercept the damage from the beginning even during the flight. Superior characteristics such as self-healing, self-cleaning, and corrosion resistance are some of the factors that are further anticipated to fuel the growth of the smart coatings market over the forecast period.
• Increasing demand for smart coatings from various end-user industries
  Features such as damage or scratch resistance, anti-fogging, flame resistance, and colouring detection have increased the demand for smart coatings materials in the construction, automotive, defence, and healthcare industries. This worldwide acceptance is anticipated to further increase the demand for smart coatings materials on account of the rise in demand from top-end industries, which is predicted to drive the growth of the market in coming years.

Challenges

• Environmental harms caused by smart coating
  Smart coatings are considered to be harmful to the environment due to evaluation of gases during synthesis and making use of solvents such as volatile organic compounds (VOCs) that release dangerous peroxides and ozone. These compounds are considered to be harmful to the environment as VOCs contribute to the formation of ozone and smog. Additionally, these compounds are harmful to human health as they can cause eye, nose, and throat irritation; headaches, loss of coordination, and nausea. These factors are estimated to hinder the growth of the global smart coatings market in coming years.
• High raw material costs
  Advanced technologies come at a cost. The high price of raw materials is estimated to restrict market growth tremendously, thereby affecting the need for smart coatings materials. Such a factor is estimated to restrict the market growth of the global smart coating materials in the coming years.