According to the latest report published by Credence Research, Inc. “Global Smart Coatings Market By Coating Type (Anti-Corrosion, Anti-Microbial, Self-Cleaning, Self-Healing, Others), By End-Use Industry (Automotive & Transportation, Construction, Consumer Electronics, Aerospace & Defense, Marine, Others) - Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global Smart Coatings market was valued at US$ 2,257.5 Mn in 2017, expected to show the CAGR of 20.5% from 2018 to 2026.
Market Insights
Smart Coatings market size was valued at US$ 2,257.5 Mn in 2017, growing with a CAGR of 20.5% during the forecast period from 2018 to 2026. Smart coatings are custom prepared to meet the varying demand from end-use industries such as automotive & transportation, construction, consumer electronics, aerospace & defense, marine, etc. Their ability to respond quickly to external stimuli and rising application in different end-use industries owing to their outstanding features are the key factors driving the market.
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Features such as self-cleaning, corrosion resistance, color switch, etc. are obtained by the use of various nanomaterial such as carbon black, organic-inorganic hybrid polymers, tungsten oxide, zinc or aluminum coated with nano-TiO2, etc. to achieve higher opacity, better interaction between coating and surface and higher durability of the coating. Although, the smart coating is the niche market, however, improved products demand from customers has catapulted its demand. Smart coatings are gaining traction with the advent of new technologies such as nanotechnology, conductive materials, and micro-encapsulation, self-healing and self-assembling systems, further enhancing their functionalities. These technologies are enabling coatings to deliver added performance beyond aesthetics and protection. Constant R&D by the leading players have resulted in the development of lightweight and eco-friendly smart coatings, thereby further boosting the market. However, slow mass adoption due to the high cost of these multifunctional coating may act as a restraining factor for Smart Coatings market
Based on the geography, North America held the largest share in the global Smart Coatings market in 2017 in terms of value and volume as many key players are headquartered in the region. Whereas, Asia-Pacific is the fastest growing region owing to rising population and disposable income coupled with growth in the manufacturing sector are some of the major factors for growth of Asia-Pacific Smart Coatings market.
Automotive & transportation was the leading end-use industry in terms of volume consumption in 2017. This is attributed to rising application of smart coatings in the exterior application in the automotive industry owing to advanced properties such as anti-corrosion, self-cleaning, and self-healing. By type, anti-corrosion coatings accounted for the largest market share in 2017, owing to its wide acceptance in the two major end-use industries; automotive & transportation and construction across the globe. Furthermore, the rapid expansion of applications of smart coatings in end-use industries such as textile, healthcare, energy, etc. has resulted in the growth of the Smart Coatings market in this region.
Key players operating in the global Smart Coatings market includes 3M Company (U.S.), The Dow Chemical Company (U.S.), The Sherwin-Williams Company (US), RPM International (US), Axalta Coatings Systems (US), AkzoNobel N.V. (Netherlands), Hempel A/S (Denmark), Jotun A/S (Norway), NEI Corporation (US), and PPG Industries (US).
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Table of Content
Chapter 1. Preface
1.1. Report Scope and Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offering
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I-Secondary Research
1.3.2. Phase II-Primary Research
1.3.3. Market Size Estimation
1.3.3.1. Top-Down Approach
1.3.3.2. Bottom-Up Approach
1.3.4. Phase III- Expert Panel Review
1.4. Assumptions
1.5. Market Segmentation
1.1. Report Scope and Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offering
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I-Secondary Research
1.3.2. Phase II-Primary Research
1.3.3. Market Size Estimation
1.3.3.1. Top-Down Approach
1.3.3.2. Bottom-Up Approach
1.3.4. Phase III- Expert Panel Review
1.4. Assumptions
1.5. Market Segmentation
Chapter 2. Executive Summary
2.1. Global Smart Coatings Market Snapshot
2.2. Global Smart Coatings Market by Coating Type, 2017 (Kilo Ton, US$ Mn)
2.3. Global Smart Coatings Market, by End-use Industry, 2017 (Kilo Ton, US$ Mn)
2.4. Global Smart Coatings Market, by Geography, 2017 (Kilo Ton, US$ Mn)
2.1. Global Smart Coatings Market Snapshot
2.2. Global Smart Coatings Market by Coating Type, 2017 (Kilo Ton, US$ Mn)
2.3. Global Smart Coatings Market, by End-use Industry, 2017 (Kilo Ton, US$ Mn)
2.4. Global Smart Coatings Market, by Geography, 2017 (Kilo Ton, US$ Mn)
Chapter 3. Market Overview
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.1.1. Growing Demand from Asia-Pacific’s End-use Industries
3.2.1.2. Advanced Performance Delivery from Smart Coatings
3.2.2. Restraints
3.2.2.1. Strict Environment Regulations
3.2.2.2. Restraint 2
3.2.3. Opportunities
3.2.3.1. Increasing Demand for Products Requiring Low Maintenance
3.2.3.2. Opportunity 2
3.3. Attractive Investment Proposition, by Geography, 2017
3.4. Competitive Landscape: Market Positioning of Key Players, 2017
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.1.1. Growing Demand from Asia-Pacific’s End-use Industries
3.2.1.2. Advanced Performance Delivery from Smart Coatings
3.2.2. Restraints
3.2.2.1. Strict Environment Regulations
3.2.2.2. Restraint 2
3.2.3. Opportunities
3.2.3.1. Increasing Demand for Products Requiring Low Maintenance
3.2.3.2. Opportunity 2
3.3. Attractive Investment Proposition, by Geography, 2017
3.4. Competitive Landscape: Market Positioning of Key Players, 2017
Chapter 4. Global Smart Coatings Market, by Coating Type, 2016 – 2026 (Kilo Ton, US$ Mn)
4.1. Overview
4.1.1. Global Smart Coatings Market Share Analysis, by Coating Type, 2017 vs. 2026 (Value, %)
4.1.2. Global Smart Coatings Market, by Coating Type, 2016-2026 (Kilo Ton, US$ Mn)
4.2. Anti-corrosion
4.3. Anti-microbial
4.4. Self-cleaning
4.5. Self-healing
4.6. Others (self-dimming, color shifting, photovoltaic, piezoelectric, etc.)
4.1. Overview
4.1.1. Global Smart Coatings Market Share Analysis, by Coating Type, 2017 vs. 2026 (Value, %)
4.1.2. Global Smart Coatings Market, by Coating Type, 2016-2026 (Kilo Ton, US$ Mn)
4.2. Anti-corrosion
4.3. Anti-microbial
4.4. Self-cleaning
4.5. Self-healing
4.6. Others (self-dimming, color shifting, photovoltaic, piezoelectric, etc.)
Chapter 5. Global Smart Coatings Market, by End-use Industry, 2016 – 2026 (Kilo Ton, US$ Mn)
5.1. Overview
5.1.1. Smart Coatings Market Share Analysis, by End-use Industry, 2017 vs. 2026 (Value, %)
5.1.2. Global Smart Coatings Market, by End-use Industry, 2016-2026 (Kilo Ton, US$ Mn)
5.2. Automotive & Transportation
5.3. Construction
5.4. Consumer Electronics
5.5. Aerospace & Defense
5.6. Marine
5.7. Others (consumer goods, energy, healthcare, etc.)
5.1. Overview
5.1.1. Smart Coatings Market Share Analysis, by End-use Industry, 2017 vs. 2026 (Value, %)
5.1.2. Global Smart Coatings Market, by End-use Industry, 2016-2026 (Kilo Ton, US$ Mn)
5.2. Automotive & Transportation
5.3. Construction
5.4. Consumer Electronics
5.5. Aerospace & Defense
5.6. Marine
5.7. Others (consumer goods, energy, healthcare, etc.)
Chapter 6. Global Smart Coatings Market, by Geography, 2016 – 2026 (Kilo Ton, US$ Mn)
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