Smart Coating Market
Smart Coating Market Highlights:
Smart Coating is a covering composed of wide range of macromolecules that respond to a small change in the environment. It has excellent cleansing, corrosion resistance and self-dimming properties. Due to these features, they are used in biotechnology and medicine, electrical & electronics, automotive, drug delivery systems, and others. The market has driven by the growing replacement of synthetic products to smart coating in electrical & electronics and automotive industries. These factors have led the major manufacturers and investors to adopt advanced coatings in end-use industries. Anti-corrosion, self-healing and anti-microbial features are the major trends and factors promoting the market positively.
Smart Coatings refer to films or layers made up of coating materials that possess certain pre-defined characteristics and exhibit certain properties on reacting to external environment such as light or electric current. The smart coating is being developed to have the inherent ability to detect the chemical changes associated with the onset of corrosion and respond autonomously to indicate it and control it. The multi-functionality of the coating is based on microencapsulation technology specifically designed for corrosion control applications. This design has, in addition to all the advantages of existing micro-capsulation designs, the corrosion controlled release function that triggers the delivery of corrosion indicators and inhibitors on demand, only when and where needed. Micro-encapsulation of self-healing agents for autonomous repair of mechanical damage to the coating is also being pursued. Corrosion indicators, corrosion inhibitors, as well as self-healing agents, have been encapsulated and dispersed into several paint systems to test the corrosion detection, inhibition, and self-healing properties of the coating.
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Smart Coating Market Application:
Smart Coatings are a functionally gradient coating system designed to provide high temperature corrosion protection over a wide range of operating conditions. Nearly all metals and their alloys are subject to corrosion that causes them to lose their structural integrity or other critical functionality. Corrosion is a costly problem for military operations and civil industries. Localized corrosion can cause catastrophic failures in pipes and tubing. One way of preventing these failures is with a coating that can detect and heal localized corrosion. Hence a multifunctional smart coating is developed for the autonomous control of corrosion. PH and other electrochemical changes are often associated with localized corrosion, so it is expected that materials that are pH or otherwise electrochemically responsive can be used to detect and control corrosion. Both colour and fluorescent pH indicators have been incorporated into coating systems for corrosion sensing applications. Although there are still technical challenges associated with corrosion indicating coatings, they are showing great promise for industrial applications. Conductive polymers and surface modified nanoparticles have been studied as potential materials for inhibitor controlled-release applications.
Smart Coatings in the Industry and expected to continue its expanding growth over the assessment period. Multi-layer coverings are the most used advanced coatings in the industry as they offer self-healing and corrosion resistance to the product. These coverings are used to reduce the weight and improve the optimal performance of the product. The medical sector has observed a higher growth in the market due to extensive use of responsive polymers in drug delivery systems, disposable devices, and others. Additionally, the growing investments and rise in the disposable income have resulted into a notable growth in the market in the last couple of years.
Smart Coatings Market is majorly driven by the increase in the demand of self-cleaning coatings and self-healing coatings from the smartphone and other handheld device manufacturers. The use of novel materials such as Meta Materials for use as smart coatings is also fuelling the growth of the market. The increasing demand from end use industries such as electronics, healthcare and automobiles is further fuelling the growth of this market. These coatings are weather-proof and are used by industrial and domestic end users. The ability of smart coatings to reduce the overall weight of aircraft further enhances the growth of the market.
Smart Coatings has increased its market growth in recent years and is expected to grow at a rapid pace during the forecasted period. The global market of Smart Coating is forecasted to witness a thriving growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022).
Smart Coating Market Key Players:
Smart Coatings Market is glorified by a sizeable number of major players having geographical presence with a Lion’s share in the market. Those players are competing on price, quality and innovations. To drive the market and to maintain their market positions players operating in the market are striving to minimize the cost of their product. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion.
Profiled in MRFR Analysis some of the prominent players operating in the smart coating market are – DuPont (U.S.), 3M Company (U.S.), PPG Industries, Inc. (U.S.), BASF SE (Germany), Eastman Chemical co. (U.S.), Nippon Steel Trading Co., Ltd. (Japan), An Catt, Inc. (U.S.), Nano shell (U.K.), Frontiers Inc. (U.S.) and others.
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Smart Coating Market Competitive Landscape:
Smart Coating Market has observed a significant growth and their demand is increasing in the major industries. The major players in the market have adopted responsive coatings in order to impart the anti-microbial, corrosion resistance and cleansing properties to the product. 3M Akzo Nobel N.V., An Catt Inc., Autonomic Materials, Inc., Axalta Coating Systems, LLC, BASF SE, The Dow Chemical Company, Dow Corning Corporation, DuPont, and PPG Industries, Inc. are the major players functioning in the market. These companies are focusing on creating new strategies, development, mergers and acquisitions in cementing their positions in the smart coating market. Moreover, the key trends and factors witnessed in the market are growing replacement of synthetic materials by responsive coatings in order to impart the responsive and stimulus nature to the product.
Smart Coating Market Regional Analysis:
Smart Coating Market can geographically be segmented into North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). Asia pacific region is expected to grow the highest in the smart coating market owing to the increase in demand for smart coatings from India and China. The undertaking of popular world events, such as sports in Japan, has led to tremendous infrastructural development. This is leading to the growth of the smart coating market for Asia-pacific Region.
Globally, Asia Pacific is the leading region in the market on account of growing consumption of intelligent coatings in construction, electrical & electronics, and military sectors. These coverings are used to impart corrosion resistance and responsive nature to the final product. Growing population and increasing demand in end-use industries have propelled the market to witness a remarkable growth in the market during the assessment period. Furthermore, rapid urbanization coupled with technological advancement proposed are driving the market in the developing countries such as India, Vietnam and Malaysia. The North American region is expected to witness a higher CAGR in U.S., Canada and Mexico owing to the growing consumption of advanced materials in end-use industries. The market has been driven in this region by the development of innovation and progress achieved in nanotechnology. However, the European region is anticipated to witness a stagnant growth due to stringent rules and regulations proposed by the government.
Smart Coating Market Table of Content:
1 Executive Summary
2 Research Methodology
2.1 Scope of the Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Smart Coating Market, By Product
5 Global Smart Coating Market, By Application
5.3 Aerospace & Defence
Smart Coating Market Table of Content to be Continue……,
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