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March 6, 2020
By: Anthony Locicero
Copy Editor, New York Post
Smart coatings have turned into a viable option for several industries including construction, automotive, and consumer electronics, Transparency Market Research said. Advanced technologies such as self-cleaning, self-healing, and self-assembling or stratifying are being leveraged by the end-use industry players to provide coating solutions to their customers. Moreover, nanotechnology-based coatings are expected to further reduce the cost of coating solutions, enhance damage or scratch resistance as well as conductivity, aid to antifogging and flame retardance, and coloring. The demand in the global smart coatings market will increase at a CAGR of 29.8% during the forecast period of 2017 to 2025, by the end of which the opportunities in this market are estimated to attain a value of $9.82 billion, per the report. Going forward, the development of eco-friendly anti-corrosion coating platforms are expected to carve niches for the players. Additionally, the focus is also on harnessing the concept of new energy technology that uses SolarWindow techniques. Growth of the end-use industries is the key driver of the smart coatings market. The building and construction industry is prospering on the back of expanding metropolitan areas across emerging economies whereas the automotive industry is feeding off the increased disposable income of urban populations. Additionally, the consumer electronic industry is regularly generating demand for paintings that make a striking impression over the consumers as well as aids in the durability of the products. Growing possibility with nanotechnology and nanomaterials as the concepts are being harnessed considerably in the present times is expected to open fruitful new opportunities. On the other hand, environmental and health hazards, as well as a requirement for a measure for higher durability during extreme weather conditions, are curtailing the market’s progress.
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