Global Smart Coating Market size is
expected to value at USD 11.68 billion by 2024. The market is subject to
witness a substantial growth due to the rise in the constant demand of smart
coating solutions from number of end-user industries such as construction
industry, automobile, military& defense sector, and medical sector.
Highly-specialized properties associated with the use of smart coating are
self-healing, self-cleaning and erosion resistant.
Such properties demonstrated by
smart coating materials are vital in the automotive and aerospace sector,
majorly for exterior usage. The use of the smart coating in aircrafts helps to
identify any form of damage on an aero-engine. Globally, the smart coating
market is predicted to grow at CAGR of 31.5% in the forecast period,
providing numerous opportunity for market players to invest for research and
development in the market.
This Research will help you to understand the Volume, growth with
Impacting Trends. Click HERE To get SAMPLE PDF (Including Full TOC, Table &
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Increasing adoption of smart
coating in the military and defense sector, majorly due to increasing need for
customized, self-repair mechanism, in-built AI systems, and advanced detection
abilities, is leading to market growth. The critical challenges such as
biofouling and microbial attacks are over powered with adoption of the smart
coating in the marine time applications. In addition, smart coating overcomes
existing repair challenges with in-built self-repairing capabilities, mainly in
the aerospace sector, thus propelling the growth for smart coating industry
over the forecast period. The market segment involving multi-layer products has
shown significant development in the recent years due to rising usage of
multi-layered coatings for surface protection in number of industry sectors.
Highly advanced chemical,
mechanical and thermal properties like that of anti-corrosion, self-repair, and
in-built assembly in comparison with traditional coating are escalating the
smart coating market value. Though, stringent environmental regulations by
governmental agencies and rising cost of raw materials are key factors responsible
for restraining market growth. Additionally, the growing demand for base
ingredients like metal oxides from various sectors such as ornamentals and
personal care is likely to increase prices associated with raw materials, thus
restricting growth of the smart coating industry.
Smart coatings are specialized
type of coating consisting of well-versed set of characteristics that allows
determining and reacting to atmospheric and external stimulus. Such
functionalities make them ideal for erosion protection, heat resistance and
surface enhancement techniques. Along with the specialized design, smart
coatings provide the common functions of coatings similar to protection and
decoration, also unique capability of reacting to environmental stimuli.
Various properties such as chemical, electrical and thermal are obtained with
the use of programmable materials that allow smart coating to react changes in
intensity of light, stress, biochemical, heat and other form of external
stimulus.
Smart coatings are capable of
enhancing a system’s performance by limiting the time required for quality
checks, repair costs and instruments downtime. Smart coating offers decline in
the requirement for the repair on the oxidized areas, providing extended life
span for the instruments and structures created form easily corrosive
materials. Some of the additional advantages with regular use of smart coating
are capability to identify and prevent corrosion, on the spot delivery of
erosion inhibitors and eco-friendly nature. Application of the smart coating
involves healthcare sectors, military& defense, clothing industry,
transportation, construction, electrical and some other sectors.
The market report addresses the following queries related to the Smart
Coating Market:
·
What is the estimated value of the Smart Coating Market in 2019?
·
Which region is expected to present a range of
opportunities to market players in the Smart
Coating Market?
·
Which recent market trends are likely to
accelerate the growth of the Smart
Coating Market in the upcoming years?
·
Which end-use industry is expected to hold the
maximum market share in the Smart
Coating Market?
·
What are the recent mergers and acquisitions
that have taken place in the Smart
Coating Market?
Regional Analysis For Smart Coating Market:
For comprehensive understanding
of market dynamics, the global Smart Coating Market is analyzed across key
geographies namely: North America, Europe, Asia-Pacific, Latin America and
Africa. Each of these regions is analyzed on basis of market findings across
major countries in these regions for a macro-level understanding of the market.
Significant Features that are under Offering and Key Highlights of the
Reports:
·
Detailed overview of Smart Coating Market
·
Changing market dynamics of the industry
·
In-depth market segmentation by Type,
Application etc
·
Historical, current and projected market size in
terms of volume and value
·
Recent industry trends and developments
·
Competitive landscape of Smart Coating Market
·
Strategies of key players and product offerings
·
Potential and niche segments/regions exhibiting
promising growth.
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