Nanocoatings Market Expanding at a Stellar 20.8% CAGR During 2018-2026, Demand Bolstered by Superior Properties of Nanocoatings - TMR

ALBANY, New York, April 3, 2019 /PRNewswire/ --The competitive landscape of the global nanocoatings market is moderately consolidated. This is solely because of the entry of several new market players, who are making their way into the market, says Transparency Market Research (TMR) in a recently published report. Inframat Corporation, Nanogate AG, Cima NanoTech Inc., Integran Technologies Inc., and Bio-Gate AG are top companies working in the global nanocoatings market.

A high level of competition exists among players who are operating in the global nanocoatings market. The market is mostly dominated by large players, who are adopting various strategies to stay ahead of the competitors. These players are focusing on improving the quality of their products along with expanding their geographical reach. The level of competition is further getting escalated with the entry of several amateur players acquiring salient features include mergers and acquisitions. Medium and small- sized vendors in the nanocoatings market are looking out for various opportunities to collaborate with dominated players for improving their revenue index.

According to experts from TMR, the global nanocoatings market is expected to accumulate revenue worth US$33,242.0 mn by the end of 2026. The market stood at US$4976.2 mn in 2017. Experts project this growth to occur at a promising CAGR of 20.8% during the forecast period from 2018 to 2026.

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Among various types of nanocoatings, the self-cleaning (photocatalytic) segment accounts for a dominant share in the market. This segment is also expected to boost the global nanocoatings market in terms of value during the forecast period. This is due to its extensive usage in medical and electronic devices. Region wise, North America is expected to hold a lion's share in the global nanocoatings market in the coming years. This is attributed to a rapid expansion in automotive and power generation industries in this region.

Rapidly Mushrooming Various End-user Industries Worldwide Stokes Demand in Market

Nanocoatings are comprised of nano molecules which are used for sealing a material at an atomic level by atomic layer deposition methods. Such coatings are also called smart coatings due to their small size, lesser than 100 nm. The nano-particles present in nanocoatings possess different properties include insulation, dirt repellence, electrical conductivity, water repellence, and scratch and temperature resistance. Nanocoatings are highly preferred over traditional coatings in various industrial applications, thanks to its high performance and excellent properties. Such factors are majorly boosting the global nanocoatings market.