Smart Coating Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024
Global Smart Coating Market: Description
Smart coatings refer to films or layers made up of coating materials that have pre-defined characteristics and display certain properties on reacting to external stimuli such as light, pressure, or electric current. According to specific requirements of end-use applications, smart coatings are customized. In the past couple of years, smart coating has gained popularity due to its competitive advantage over conventional coating. As smart coating materials are weatherproof and chemical resistant, they are widely used as a coating medium across domestic and industrial applications.
Depending on functions, smart coatings are of various types including anti-corrosion coating, self-dimming coating, self-cleaning coating, self-healing coating, biomedical coating, and others.
Smart coating finds applications across a number of end-use industries such as food packaging, IT, aerospace, construction, automotive, household, industrial, and personal care. Smart coating materials are widely used for military and medical applications as well. Growing investments in infrastructure facilities in the construction industry are expected to contribute significantly toward the growth of the market.
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Smart coating materials are particularly used for the construction of environmentally sustainable green buildings. In the military sector, anti-corrosion coatings are used to protect galvanized aluminum and steel surfaces. In the health care industry, smart antimicrobial coatings are already in use. Researchers are focusing on the usage of smart coatings to trigger automatic drug release based on external stimuli. Bio-adhesive coatings are being developed to provide controlled drug release and prevent drug overdoses in critical situations.
Global Smart Coating Market: Overview
The growing demand from the electronics industry is expected to fuel the growth of the global smart coating market. For smartphones and other handheld electronic devices, self-healing coatings and self-cleaning coatings are of great importance. The rapidly expanding smartphones market holds immense potential for the growth of the global smart coatings market. Extensive research and development in smart coatings has led to the development of innovative smart coating products. Multilayer coatings are being seen as the easiest way to develop multifunctional coatings. Novel materials such as metamaterials are being used for the development of special smart coatings. All these factors are anticipated to augment the growth of the global smart coating market.
However, the global smart coating market will be negatively affected by the high cost of smart coatings, unfavorable environmental regulations, and technological gaps. The overall market has a huge opportunity to grow with several large specialty chemical companies focusing on supplying ‘semi-smart’ coatings to key manufacturers.
Global Smart Coating Market: Region-wise Outlook
The global smart coating market has been segmented into four key regions: Asia Pacific, Europe, North America, and Rest of the World. The demand for smart coatings from Europe has been significantly high. The growing demand for smart coatings across China and India has boosted the growth of the market in Asia Pacific. Further, upcoming popular world events, such as FIFA Club World Cup in Japan, have led to massive infrastructural development plan, thereby driving the demand from this regional market.
Some of the prominent players in the global smart coating market are 3M Company, Bayer AG, The Dow Chemical Company, Dupont, Royal DSM, Eastman Chemical, Debiotech SA, Nippon Steel, AnCatt Inc., Balcony Systems Solutions Ltd., Research Frontiers Inc., Nanoshell, and New Energy Technologies. Growing demand for smart coating across end-use industries has led the key players to focus more on the production of innovative smart coating, especially across countries in Asia Pacific.
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