Smart Coatings Market Size to Reach Revenues of over USD 11 Billion by 2026 - Arizton
CHICAGO, May 4, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global smart coatings market report.
The smart coatings market is expected to grow at a CAGR of over 18% during the period 2020−2026.
Key Highlights Offered in the Report:
- The global smart coating market is witnessing high growth on account of growing end-use industries. The economic growth in developing countries, investments on infrastructure and construction sector, and rising industrial activities are the leading growth of the market.
- APAC region accounted for the largest share in the global smart coatings market and accounted for over 46%. Increasing investment in the construction, marine, and defense industries are supporting the growth of smart coatings.
- Multi-layer smart coatings contributed around 47% and are projected to grow in the forecast period.
- The smart anti-corrosive coatings are widely used and contribute over 26% of the total global market share. The smart anti-corrosive coatings are used by automotive, aerospace, marine, and other end-use industries.
- The automotive industry holds the highest contribution in the global smart coatings market contributing to around 20% share.
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by layer, function type, end-user, and geography
- Competitive Landscape – 5 key vendors and 34 other vendors
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Smart Coatings Market – Segmentation
- The global single-layer smart coatings market expects to reach over USD 5 billion by 2026, growing at a CAGR of over 16% during the forecast period. These are widely used in the automotive and aerospace industries. Single-layer anti-reflective coatings are one of the key factors for developing the efficiency of solar cells.
- Self-cleaning and antimicrobial sectors are likely to grow at CAGRs of over 19% during 2020–2026. Several industries widely adopt smart self-cleaning coatings to improve the usability and functionality of materials. These are applied on solar panels, glass windows, stain-resistant textiles, corrosion prevention, and anti-biofouling surfaces to ease the cleaning process. Self-cleaning surfaces are extremely water repellent, which increases the lifespan of several metals.
- Automotive, transportation, marine, construction, aerospace & defense, and healthcare are the primary end-user industries. The automotive sector accounted for over 20%, followed by aerospace (over 16%) and consumer electronics (over 15%). The demand from the automotive and transportation sectors will drive the market due to the increased application of smart coatings on door closures, lock parts, exhausts, suspensions, engine components, and clamps & hose connections.
Smart Coatings Market by Layer Type