3M (U.S.), Akzo Nobel N.V. (the Netherlands), Ancatt Inc. (U.S.), Autonomic Materials, Inc (U.S.), Axalta Coating Systems, LLC (U.S), BASF SE (Germany), The Dow Chemical Company (U.S.), Dow Corning Corporation (U.S.), DuPont (U.S.), and PPG Industries, Inc (U.S.) are some of the major players profiled in MRFR Analysis and are at the forefront of competition in the Global Smart Coating Market.
Smart Coating Market – Overview
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.
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.
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Automotive and construction industries has identified the significance of 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.
These coatings are expensive but their extraordinary features are prompting the manufacturers and investors to utilize them in the end-use applications as they provide compatible, lightweight, eco-friendly and responsive nature to the product. Therefore, the ample availability of raw materials have propelled the manufacturers to use intelligent coatings in the major industries.
Smart Coating Market- Competitive Landscape
The Global 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., Ancatt 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.
Industry/ Innovation/ Related News:
September 26, 2016- An antimicrobial admixture for concrete protection- MasterLife AMA 100 was launched by BASF to prevent the concrete structures from degradation of microorganisms. The deterioration from sewage water, bacteria and microorganisms will be prevented by the application of this product. Moreover, it improves the aesthetic and maintain the lifecycle of the structures. BASF MasterLife AMA 100 is utilized by mixing it in the batch process and becomes an important part of the concrete structure.
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