Nanocoating or nano sealing is a chemical process that refers to designing surfaces with certain desired characteristics. Nano structures build a consistent network of molecules on a surface and can make the surface either a hydrophobe or a hydrophil. On a hydrophobic surface, water is repelled and flows away immediately, whereas on a hydrophilic surface, water builds a plain film on the surface. Increasing demand for medical device coatings is expected to propel the global nanocoatings market
. The overall market is estimated to grow positively at a CAGR of 24.7% during the period between 2013 and 2019 and reach a valuation of US$6.75 billion by 2019.
Demand for Smart Coatings to Open New Growth Avenues for Global Nanocoatings Market
Nanocoatings are particularly in demand from industries such as medical devices, pharmaceuticals, and automotive. The low volatile organic compound (VOC) content of nanocoatings makes them more beneficial than conventional coatings owing to their lower negative impact on the environment. This is expected to further boost the global nanocoatings market.
However, various research studies have pointed out that nano materials can have certain adverse effects on human health. This can restrain the growth of the nanocoatings market. The global nanocoatings market has a huge opportunity to grow with the growing demand for smart coatings. Rising demand for nanocoatings from various industries in countries such as China and India is also expected to push the growth of the overall market.
Anti-Fingerprint Nanocoatings Segment to Grow Fastest During 2013-2019
On the basis of the product type, the global nanocoatings market has been segmented into anti-microbial, anti-fingerprint, self-cleaning, anti-fouling and easy-to-clean, and others including specialty coatings. In 2012, the demand for anti-microbial nanocoatings was the highest and accounted for 29.6% of the global demand. The high demand for anti-microbial nanocoatings can be attributed to their wide application in sectors such as food production, healthcare, and water treatment. During the period from 2013 to 2019, the anti-fingerprint nanocoatings segment is expected to witness the fastest growth in the market.
Medical and Healthcare Sector Dominated Global Nanocoatings Market in 2012
Depending on the end user segments, the global nanocoatings market has been divided into food manufacturing, medical and healthcare, marine, packaging, electronics, water treatment, automotive, buildings and construction, energy, and others including leather and engineering industries. The demand for nanocoatings from healthcare, automotive, packaging, and electronics sectors is expected to increase significantly during the next couple of years.
The medical and healthcare sector accounted for the highest demand from the nanocoatings market in 2012, owing to the extensive application of nanocoatings on medical implants and equipment. The demand from the medical and healthcare sector for nanocoatings is estimated to rise in the near future. The automotive sector has emerged as the second largest end user of nanocoatings. In the coming years, the electronics and energy sectors are anticipated to be the fastest growing end-use segments of the global nanocoatings market.
Asia Pacific to Emerge as Fastest Growing Regional Nanocoatings Market
Geographically, North America is the largest market for global nanocoatings market, closely followed by Europe. However, during the span between 2013 and 2019, Asia Pacific is expected to evolve into the fastest growing market for nanocoatings, growing at a CAGR of 25.8%. The rapid growth of the market in this region can be attributed to the thriving automotive and electronics industries.Some of the key players in the global nanocoatings market are Bio-Gate AG, Cima Nano Tech Inc., Inframat Corporation, P2i Ltd., and Nanogate AG.