Smart Coatings Market: Introduction
Smart coatings are technologically developed to change their properties in response to the environmental stimulus. They have been developed in such a way that they react to the stimulus on their own. Therefore, they are called smart coatings. These coatings are being used in various applications, including building & construction, automotive, electronics, military, and medical.
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The report estimates and forecasts the smart coatings market on the global, regional, and country levels. The study provides forecast between 2021 and 2031 based on volume (tons) and revenue (US$ Bn) with 2020 as the base year. The report comprises an exhaustive value chain analysis for each of the product segments. It provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage. The study includes drivers and restraints for the smart coatings market, along with their impact on demand during the forecast period. The study also provides key market indicators affecting the growth of the market. The report analyzes opportunities in the smart coatings market on the global and regional level. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources.
The report includes Porter’s Five Forces model to determine the degree of competition in the smart coatings market. The report comprises a qualitative write-up on market attractiveness analysis, wherein applications and countries have been analyzed based on attractiveness for each region. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environment and legal) have been evaluated in order to derive the general attractiveness of the market. The report comprises price trend analysis for smart coatings between 2021 and 2031.
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Rise in Demand from Diverse End Users to Offer Profitable Growth Opportunities to Smart Coatings Market
The booming construction industry and the growing sales of passenger vehicles across the globe are expected to play as robust growth pillars for the global smart coatings market during the forecast period of 2021-2031. Increase in demand for smart coating technologies from these end users is estimated to offer tremendous growth opportunities. Properties of smart coatings such as resistance to corrosion, self-healing, self-cleaning, and sensing capabilities are likely to further boost the smart coatings market.
Smart coatings are special films that are responsive to changes in the environment and external stimuli. These coatings have self-repair and self-healing properties that help in increasing their demand among a large pool of end users. These coatings are created with the help of programmable materials having diverse chemical, electrical, mechanical, and physical properties.
Players in the smart coatings market are involved in intense research and development activities. These activities help players explore novel insights that help in tweaking the materials and offer coatings with enhanced features.
Mergers and acquisitions play a crucial role in the growth of the smart coatings market. Players strengthen their foothold through these activities, eventually boosting growth prospects. Expansion activities also help in propelling the growth of the smart coatings market.
The COVID-19 pandemic has a negative impact on the growth of the smart coatings market. The emergence of the virus forced many countries to impose strict lockdown restrictions. These restrictions changed the growth trajectories of many industries and sectors. The smart coatings market is one of them. Nevertheless, relaxations in lockdown restrictions are helping players to revive the growth.
Smart Coatings Market: Prominent Regions
Regional segmentation includes the current and forecast demand for smart coatings in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Additionally, the report comprises country-level analysis in terms of volume and revenue for various segments. Key countries such as the U.S., Canada, Germany, France, the U.K., Spain, Italy, India, China, Japan, South Africa, Mexico, and Brazil have been included in the study. Market segmentation includes demand for individual applications in all the regions and countries.
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Smart Coatings Market: Key Players
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players profiled in the report includes DuPont, PPG Industries, Bayer AG, BASF SE, The Dow Chemical Co., 3M Company, AkzoNobel, Jotun A/S, The Sherwin-Williams Company, and NEI Corporation.
Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview (wherever applicable).
Global Smart Coatings Market: Segmentation
Smart Coatings Market, by Product Type
- Self-healing
- Self-cleaning
- Anti-microbial
- Anti-corrosion
- Self-dimming
- Others
Smart Coatings Market, by Application
- Building & Construction
- Automotive
- Electronics
- Military
- Medical
- Others
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