Smart Coatings Market Expected to Grow at a Considerable CAGR by 2024 – Supplier Landscape, Technology Overview and Value Chain Analysis by Millions of Info


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According to a new report available from Million Insights, the global Smart Coatings industry research report offers in-depth information on trends, scope, demand, application, and revenue. It also offers ready, data-driven answers to several industry-level questions.

The Global smart coating market the size is expected to reach $ 11.68 billion by 2024. The market is subject to substantial growth owing to the steady increase in demand for smart coating solutions from a number of industries in the industry. end users such as the construction industry, the automotive industry, the military and defense industry, and the medical industry. The highly specialized properties associated with the use of the smart coating are self-healing, self-cleaning and resistance to erosion.

Such properties demonstrated by smart coating materials are vital in the automotive and aerospace industry, primarily for exterior use. The use of smart coating in airplanes can identify any form of damage to an airplane engine. Globally, the smart coatings market is expected to grow at a CAGR of 31.5% during the forecast period, providing ample opportunities for market players to invest in research and development in the market.

The growing adoption of smart coating in the military and defense industries, mainly due to the growing need for custom self-healing mechanisms, integrated AI systems, and advanced sensing capabilities, is leading to the growth of the market . Critical challenges such as biofouling and microbial attack are overcome with the adoption of smart coating in marine applications. In addition, smart coating overcomes existing repair challenges with built-in self-repair capabilities, mainly in the aerospace sector, thus propelling the growth of smart coating industry during the forecast period. The multilayer products market segment has experienced significant development in recent years due to the increasing use of multilayer coatings for surface protection in a number of industrial sectors.

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Highly advanced chemical, mechanical and thermal properties such as anti-corrosion, self-repair and integrated assembly compared to traditional coating increase the value of smart coating market. However, the strict environmental regulations of government agencies and the rising cost of raw materials are key factors responsible for restraining the growth of the market. In addition, the increasing demand for basic ingredients such as metal oxides from various sectors such as ornamentals and personal care is likely to increase the prices associated with raw materials, thus limiting the growth of the industry. smart coatings.

Smart coatings are a specialized type of coating made up of a well-known set of characteristics that help determine and respond to atmospheric and external stimuli. These features make them ideal for erosion protection, heat resistance and surface enhancement techniques. Besides specialized design, smart coatings offer the common functions of coatings similar to protection and decoration, as well as a unique ability to respond to environmental stimuli. Various properties such as chemical, electrical and thermal are achieved through the use of programmable materials that allow the intelligent coating to react to changes in intensity of light, stress, biochemistry, heat and other forms external stimulus.

Smart coatings are able to improve system performance by reducing the time required for quality checks, repair costs and instrument downtime. The smart coating helps reduce the need for repair on oxidized areas, providing extended life for instruments and structures created from easily corrosive materials. Some of the added benefits of using a smart coating on a regular basis are the ability to identify and prevent corrosion, on-site delivery of erosion inhibitors, and the eco-friendly nature. The application of smart coating involves healthcare, military and defense, garment industry, transportation, construction, electrical and other sectors.

The smart coating industry is divided into regional market segments such as North America, Europe, Asia-Pacific, Latin America, and Africa. North America and Europe have experienced significant growth in recent years due to the presence of leading players in the market and increasing capital funding in the R&D of advanced coating materials. The Asia-Pacific region is expected to hold a major market share in the smart coatings market with massive growth during the forecast period.

Countries like India, China and Indonesia dominate the Asia-Pacific market with increasing advancement in automotive sector and increasing investments from major industry players due to numerous market opportunities in the market. region. The major players in the smart coating industry are BASF Co., 3M Systems, The Dow Chemical Company, PPG Industries, and A&K Coating Solutions.

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Market segment:

Product Outlook (Volume, 000’L; Revenue, USD Million; 2013 – 2024)
• One coat
• Multilayer

Application Outlook (Volume, 000’L; Revenue, USD Million; 2013 – 2024)
• Automotive
• Aerospace
• Construction
• Consumer electronics
• Military
• Health care
• Others

Regional Outlook (Volume, 000’L; Revenue, USD Million; 2013 – 2024)
• North America
• US
• Canada
• Mexico
• Europe
• Germany
• UK
• Asia Pacific
• China
• India
• Japan
• Central and South America
• Brazil
• Middle East and Africa
• Saudi Arabia
• United Arab Emirates
• South Africa

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