Published on : Nov 03, 2017
Albany, New York, November 3, 2017: Smart coatings are special films with properties such as self-healing and self-repair that make them sense and respond to environmental and other external stimuli. Due to these properties, smart coatings are suitable for material protection, corrosion protection, and other surface protection applications. According to the informatory report titled “Smart Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025” added recently into the database of “Market Research Hub (MRH)”, the global smart coatings market is prophesied to grow with a valuation of US$9.82 bn by the end of 2025. The global smart coatings market which generated a value of worth US$1.1 bn during 2016, is expected to expand at a robust CAGR of 29.8%.
Among the various types of smart coatings products, demand for anti-corrosion products is the highest, as it finds wide ranging applications in the automotive and military industries. Demand for anti-corrosion smart coatings is likely to grow at a steady pace during the forecast period. Growth in the automotive sector in China and India is likely to play a crucial role in the demand for anti-corrosion smart coatings during the forecast period.
Among all the regions, North America and Asia Pacific are likely to remain key to future demand for smart coatings. In North America, renewed focus on infrastructure development can open up new avenues for manufacturers. Also, the U.S. has the world’s most advanced defense forces, with a heavy spending on modern equipment. As smart coatings find wide-ranging applications in the defense sector, it is highly likely that there will be growth opportunities for manufacturers. In Asia Pacific, the large automotive industry is likely to offer a plethora of opportunities to manufacturers. The region has become highly lucrative for OEMs and suppliers, owing to the rising middle class population. As the automotive market grows, demand for smart coatings is also likely to witness steady growth over the forecast period.
The report offers a detailed competitive landscape, profiling the key players in the market. The detailed profiling helps the readers in understanding the competitive scenario in the market. Some of the key players profiled in the report include 3M, PPG Protective & Marine Coatings, Dow Corning, Inducoat, BASF SE, Royal DSM, and NEI Corporation. The leading players in the market are focusing consolidation and strengthening their position in Asia Pacific.
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