Global Smart Coatings Market Manufacturers, Suppliers & Exporters Report by 2024
- vynzresearch
- May 14, 2019
- 1 min read
The global smart coatings market is growing at a significant rate, and expected to attain a considerable growth during the forecast period. This is attributed to the self-healing and self-repair properties of these coatings which makes them suitable for various purposes such as material protection, corrosion protection, and other improvement applications.
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Based on end-user, the smart coatings market is segmented into automotive and transportation, aerospace and defense, marine, and others. Of all these end-user category, automotive and transportation is the fastest growing category and projected to register a highest CAGR during the forecast period.
Superior properties of these coating and increasing use in end-user industries are the major factors that are driving the smart coatings market growth. These coatings improve the systems’ efficiency by reducing the inspection times, equipment downtime, and maintenance costs.
Asia-Pacific is anticipated to witness the highest growth in the smart coatings market, owing to the rising demand from end user industries such as aerospace and defense, automotive and transportation, marine, building and construction, and others.
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Various developments are taking place in the market coupled with the increasing research and development efforts in an industry. For instance, Ford Motor Company is interested in functional coatings for light detection and ranging sensor for autonomous vehicles. Some of the major players operating in the smart coatings market are 3M Company, PPG Industries Inc., AkzoNobel N.V., The Sherwin-Williams Company, RPM International, Axalta Coating Systems, NEI Corporation, Royal DSM, and Helicity Technologies.
Source: VynZ Research
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