Corrosion is increasingly becoming a major issue for owners of industrial equipment and plants. Corrosion, which is mostly caused by a chemical attack, can lead to significant industrial losses. Corrosion, in its various forms, is estimated to cost the global economy US$3 Trn per year. The presence of corrosive chemicals can result in deterioration of a structure or equipment and is also a potential risk to personnel. It may also lead to permanent structural failure, which can be deemed costly in terms of repair. The corrosion phenomenon majorly affects economies of industrial companies. However, with the advent of innovative technologies, it is possible to eliminate corrosion in prior stages through anti-corrosion nanocoatings. Anti-corrosion nanocoatings consist of homogeneous thin films made up of alkoxides with chemically attached nanoparticles. Corrosion and high temperature oxidation can be reduced by coating materials made up of thin layer of chemically resistant oxides. Such films are primarily suitable for metallic surfaces. They offer various advantages such as low temperature processing, high purity, and control of the composition.
Nanocoatings are materials manufactured by shrinking raw materials at the molecular level to form a denser product. Nanocoatings are preferred over traditional coatings due to their lower content of VOCs. Additionally, nanocoatings offer characteristics such as resistance to scratch, UV, and chemical; low maintenance; anti-corrosion; and color and gloss retention. Nanocoatings are classified as anti-fingerprint, anti-microbial, anti-fouling and easy-to-clean, self-cleaning (bionic and photocatalytic) and others (specialty coatings, etc.). Anti-microbial is a highly used nanocoating across various end-user industries. Anti-microbial nanocoatings are employed in end-user industries such as medical and health care, water treatment, food manufacturing, and packaging. Anti-fouling and easy-to-clean nanocoatings are also employed on a large scale in marine, food manufacturing, automotive, and electronics industries, etc. The anti-fingerprint nanocoatings segment is expected to expand substantially in the near future due to the increasing demand in electronics, automotive, and medical and health care industries. Other types of nanocoatings are used in building & construction, packaging, and textiles industries.
The global anti-corrosion nanocoatings market is expanding owing to the high demand in medical and automotive coatings industries. Growth in the coatings sector, rising demand, and urbanization in BRIC countries has been driving the global anti-corrosion nanocoatings market since the last few years. Anti-corrosion nanocoatings are used in medical equipment and implants. The medical and health care industry is likely to expand significantly in the next few years. Energy and electronics are high-growth end-users of anti-corrosion nanocoatings. This trend is estimated to continue in the next few years. Furthermore, increase in usage of anti-corrosion nanocoatings in automotive to retain color and gloss of the surface is likely to drive the anti-corrosion nanocoatings market in the near future. Demand for nanocoatings is high in the building & construction industry, as they inhibit microbial growth, mildew, and algae. Anti-corrosion nanocoatings are also used in food manufacturing, packaging, textiles, and water treatment industries, among others.
The global anti-corrosion nanocoatings market is expected to witness significant growth due to the ability of these nanocoatings to provide high degree of adhesion and excellent chemical and abrasion resistance to meet the regulatory requirement. North America and Europe are the major markets for anti-corrosion nanocoatings, driven by the implementation of stringent emission standards to comply with the emission of volatile organic compounds (VOCs). Growth in the medical and health care industry in North America is estimated to drive the anti-corrosion nanocoatings market in the near future. Currently, the demand for medical equipment and implant coatings is high in North America. It is projected to rise owing to the increase in development in technology. Asia Pacific is anticipated to be a rapidly growing market for anti-corrosion nanocoatings in the next few years. Demand for anti-corrosion nanocoatings is likely to increase in Asia Pacific due to growth in automotive and electronics industries.
Key players operating in the anti-corrosion nanocoatings market include Buhler PARTEC GmbH, Nanogate AG, and P2i Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.