Nano Coatings Market is Estimated to Reach 14 Billion USD by 2021 - IndustryARC

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Following the rapid economic growth in Asia during the last decade, demand for Nano Coatings in APAC has risen sharply and the market is anticipated to reach $14 billion by 2021. 

Growing usage of Nano coatings in healthcare as well as aerospace sector is all set to escalate the Nano coatings market. In addition to it, growing emphasis on renewable energy facilities also drives the usage of Nano coatings. EU's economy is largely influenced by the dynamics of developed countries of Western Europe, however, the scenario is changing with increasing investments in Eastern Europe. Nano coatings have been extensively used in various applications over the past few years across the globe.

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The key element that nano structured coatings provide protection-from ice, pollutant, UV, fire, heat, bacteria, marine life, touch and corrosion. These factors cost global industry billions in maintenance, loss and downtime each year and can pose a significant public health hazard. For example, direct corrosion costs account for 3-4% of a country's GDP worldwide. Nano coatings can significantly increase the cost/benefit ratio of products, providing cost effective solutions and improved performances. Moreover, nano materials lead to new functionalities, completely innovative characteristics and the possibility to achieve multifunctional coatings and smart coatings.

The global Nano coatings market is estimated to grow at a CAGR of 16.8% during the forecast period and will reach $14 billion by 2021. As the industrial companies striving to compete on a global scale, they require to modernize their industrial production facilities. The ability of nano coatings to meet these requirements explains why they are under development for medical device applications. Nano-coatings technology has already been widely applied in hearing aid coatings. Nanoparticle coatings are being increasingly applied in protective coatings for medical electronics, biocompatible coatings on implantable devices, and lubricious coatings on medical devices. Escalating demand for automotive &transportation is propelling the growth of Nano coatings in various geographies.

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The market of Nano coatings has been segmented into the Americas, Asia-Pacific, Europe and Rest of the World (RoW) on basis of geography. In 2016, Europe is the prominent region for Nano coatings market and is estimated to grow with a CAGR of 6.0% during the forecast period. The growth in Europe is attributed to the increasing biomedical, aerospace, automotive and manufacturing activities. However, considerable Nano coatings demand in the Americas along with Asian countries is likely to boost the overall market.

The Prominent Players in this Market Include 

• Angstron Materials LLC
• Bluestone Global Tech
• Cabot Corporation
• Durham Graphene Science
• GRAnPH Nanotech

Nano coatings companies through its broad range of products, product expansion and innovation have been successful in catering to a variety of customers, consequently maintaining their hold over the Nano coatings market. With various product launches, mergers, acquisitions, collaborations and other strategies, these companies are obtaining industrial gases market shares in the industry.

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SOURCE IndustryARC