Nanocoatings Market Gains from Rising Demand from Automobiles and Medical Device, Poised to Reach US$6.7 bn by 2019

Nanocoatings are materials which are manufactured by shrinking raw materials at the molecular level to form a denser product. Nanocoatings are preferred over traditional coatings due to their lower VOCs content. In addition, nanocoatings have characteristics such as scratch, UV, chemical resistance, low maintenance, anti-corrosion and color and gloss retention among others. Nanocoatings are classified as anti-fingerprint, anti-microbial, anti-fouling and easy-to-clean, self-cleaning (Bionic and Photocatalytic) and others (specialty coatings, etc.).

Anti-microbial is the most used nanocoating across various end-users. Anti-microbial nanocoatings are used by end-users such as medical and healthcare, water treatment, food manufacturing and packaging. Anti-fouling and easy-to-clean nanocoatings are the second largest market for nanocoatings and find applications in marine, food manufacturing, automotive and electronics among others. Anti-fingerprint nanocoatings are expected to grow in the near future due to increasing demand from the electronics, automotive, medical and healthcare. Other types of nanocoatings find applications in buildings & construction, packaging and textiles. 

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The global nanocoatings market is growing owing to the huge demand from medical and automotive coatings industry. Growth in the coatings sector coupled with rising demand, urbanization in BRIC countries has been driving the global nanocoatings market in the past few years. Additionally, European governments have stringent regulations associated with coatings industry due to VOCs content. Nanocoatings offer environmental benefits due to low VOCs in it resulting in more demand in upcoming years. However, the health and environmental concerns is likely to hamper the growth of the nanocoatings market. Increasing application scope of smart coatings market coupled with growing electronics and automotive industry in India and China are expected to open opportunities for the growth of the market over the coming years. 

Anti-microbial nanocoatings were the majorly consumed nanocoatings in the market in 2012 and accounted for around 29.6% of the global demand. Anti-fouling and easy-to-clean nanocoatings were the second largest consumed nanocoatings in the market. They are expected to grow within the forecast period on account of their increasing usage in end-users such as industrial engineering, marine, food manufacturing, automotive and energy among others. Anti-fingerprint nanocoatings are expected to be the fastest growing over the forecast period due to rising demand from electronics, medical and healthcare. Demand for other nanocoatings such as specialty coatings is expected to be steady due to a substantially higher demand from other nanocoatings in the near future.

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Demand for nanocoatings was highest from medical and healthcare, accounting for around 14% of the global demand in 2012. Nanocoatings are used in medical equipment and implants. The medical and healthcare is likely to grow and is anticipated to follow a similar trend over the next few years. Energy and electronics are one of the fastest growing end-users for nanocoatings and are expected to grow in the coming years. Furthermore, increasing use of nanocoatings in automotive to retain color and gloss of the surface is likely to drive the market in near future. Moreover, there is huge demand of nanocoatings from building & construction as they inhibit microbial growth, mild dew and algae. Nanocoatings are also used in food manufacturing, packaging, textiles and water treatment among others.

Nanocoatings demand was highest from North America in 2012 accounting for over 40% of the global market, owing to growing demand from medical and healthcare industry. The demand for medical equipment, implants coatings is currently the largest in North America and is expected to significantly grow with the increasing development in technology. Additionally, demand from other regions such as Europe is expected to increase due to environmental regulations regarding VOCs in the coatings industry. Asia Pacific is anticipated to be the fastest growing market for nanocoatings in the coming years. The demand for nanocoatings is likely to increase in Asia Pacific due to growing automotive and electronics industry.

Companies such as Buhler PARTEC GmbH, Nanogate AG, P2i Ltd., Nanofilm Ltd., Bio-Gate AG and Nanophase Technologies Corporation accounted for less than 10% market share each. In addition, the nanocoatings market is fragmented and is dominated by small players.