Nanocoatings Market Size Worth USD 22.96 Billion in 2027 | Revenue Growth is Driven by Increasing Demand in Industries Such as Automotive, Healthcare, Electronics, Building & Construction, Marine, Energy, says Emergen Research
Vancouver, British Columbia, June 14, 2021 (GLOBE NEWSWIRE) — The global nanocoatings market size is expected to reach USD 22.96 Billion in 2027 registering a CAGR of 18.4% over the forecast period, according to a latest report by Emergen Research. Major factor driving market revenue growth is its increasing demand in end-use industries such as automotive, healthcare, electronics, building & construction, marine, energy, water treatment, and packaging.
Medical devices, such as catheters, stents, temporary or permanent implants, anastomotic devices, vascular grafts, embolic devices, aneurysm repair devices, and implantable devices are often infected with opportunistic bacteria and other infectious micro-organisms. Antimicrobial nanocoatings are therefore applied on such medical devices. Nanocoatings are deployed in surgical instruments, bone replacement materials, and prosthetic devices. Also, yeasts and oral bacteria may result in several oral ailments such as dental caries, periodontal disease, oral thrush, tooth root & pulp disease, and infections on dental implants or dental braces. Nanocoatings are a veritable solution for repelling such yeast and bacteria.
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Furthermore, the COVID-19 pandemic is expected to increase demand for nanocoatings. The Indian Department of Science and Technology (DST) has approved the use of antiviral nanocoatings masks to prevent the spread of the coronavirus. Under the Nano Mission on DST has granted permission for N-95 and triple layer medical masks to be coated with antiviral nanocoatings.
In the coming years, strict regulatory requirements limiting the use of nanotechnology and nanomaterials may restrain market growth. The use of nanotechnology results in products with properties that differ from those produced using traditional methods. Due to the unique features and properties of nanomaterial they are closely regulated by the FDA. Manufacturers of nanocoated products are therefore faced with steep regulations.
Key Highlights From The Report
- Antimicrobial nanocoatings had the biggest market share in 2019 and are predicted to register a CAGR of 18.0% over the forecast period. Nanocoatings with antibacterial properties are becoming increasingly important in the fight against antibiotic resistance. Nanocoatings may be employed in antimicrobial therapy as diagnostics, preventives, medication transporters, and synergetics.
- By distribution channel, the online distribution channel is expected to grow at a faster rate of 20.9 percent over the forecast period, as this mode of distribution has the advantage of providing a broader exposure to the manufacturers’ products, especially with the proliferation of smart devices and internet connectivity.
- The building and construction sector is expected to register a CAGR of 18.5 percent over the forecast period. Nanocoatings are nanoscale thin film coatings used to preserve the surfaces of a variety of construction materials, including glass, concrete, marble, steel, and sand limestone, among others. These coatings help protect them from things like algae, moss, water, and oil stains, as well as help in friction reduction, heat resistance, and prevent corrosion.
- In 2019, North America accounted for the largest revenue share in the nanocoatings market, which is expected to register a 17.7% CAGR over the forecast period. North America market’s larger revenue share is owing to the growth of healthcare industry, technological advancements, and presence of key players in the region.
- Key participants include Eikos Inc., Buhler Partec GmbH, Integran Technologies Inc., Bio-Gate AG, Nanofilm Ltd., Nanoveer Technologies LLC, Cima Nanotech Inc., P2i, Inframat Corporation, Nanophase Technologies Corporation, and Nanogate AG, among others.
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Emergen Research has segmented the global nanocoatings market on the basis of product type, distribution channel, industry vertical, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Anti-Fouling & Easy-to-Clean
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
- Building & Construction
- Water Treatment
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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