Smart Coatings Market is projected to be worth USD 13.8 Billion by 2030, registering a CAGR of 23% during the forecast period (2021 - 2030).

Market Overview

Smart coatings were considered novelties when first launched, with little probability of marketing in the near term. That proved to be not the case. A decade later, many types of smart coatings find use in automotive, manufacturing, consumer electronics and other applications on a daily basis. Advances in technology also continue, and while there are still many smart coatings that may not be appropriate for functional use, there are others that have enough potential to have a major effect on manufacturing and global markets.

Through the use of combinations of micro- to nanoparticles, and variations of organic and inorganic compounds, Smart Coatings Market demonstrated outstanding characteristics compared to conventional coatings. The use of nanoscale materials has significantly contributed to the improved performance of smart inhibiting substances as compared with micro and macro particles. Some of the smart coatings consist of nanoparticles from metal or metal oxide which provide different practical characteristics and improved efficiency. In 2018, the market for smart coatings was assessed at USD 2.5 billion.

Huge investment in research and development is set to help the use of smart coatings to develop new smart coating markets across the world. A big driver for the growth of smart coating innovations is the increasing demand for higher efficiency to prolong the product lifespan and minimize upkeep, boost energy efficiency for both price and economic reasons, and deal with substrates moving to modern materials such as composites and aluminum.

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Market Segmentation

The world market for smart coatings is fragmented by function, product, end-use segment, and regions.

The Smart Coatings Market is categorized by product into single layer and multilayer.

The world market has been divided, based on function, into self-healing, anti-icing, anti-corrosion, anti-microbial, anti-fouling, self-cleaning, and the report also covers other functions of smart coatings as well.

The global Smart Coatings Market Statistics, on the basis of the end-use industry, has been classified into aerospace and defence, automotive, construction, healthcare, and consumer electronics. The report deeply analyses the above mentioned segments and their sub-segments, and it also covers other end users that are active in the market.

Key Players

Notable players profiled in the smart coating market include 3M (US), PPG Industries, Inc (US), Akzo Nobel N.V. (the Netherlands), Axalta (US), Hempel Group (Denmark), Jotun Group (Norway), The Sherwin-Williams Company (US), AnCatt (US), Covestro AG (Germany), DuPont and Dow (US), BASF SE (Germany), and NEI Corporation (US)

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Regional Overview

The global market for smart coatings is fragmented, by region, into North America, Asia-Pacific, Latin America,  Europe,  and Middle East & Africa. The Asia-Pacific market represented the largest share in 2018 throughout the context of strong demand for smart coatings across key end-use sectors such as construction, automotive, and consumer electronics. Industrialization and urbanisation, combined with a rising economic system, has culminated in substantial growth for all these end-use sectors, which is expected to fuel supply needs for smart coatings in the near future. The major industrial base in North America and Europe, combined with the strong demand for intelligent coatings will further help the market.

Industry News

Researchers at Texas A&M University have developed a coating to avoid cross-contamination between fresh fruit and vegetables, which can be applied to food-contact surfaces such as rollers, conveyor belts, and collection containers. The scientists have not only engineered their coating to be germicidal but also to be highly moisture-repellent. Without moisture, the scientists said that bacteria can't adhere or grow on surfaces, dramatically curbing damage from one piece of product to another.

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