Smart Coatings Market - Forecast(2024 - 2030)

Report Code: CMR 34152 Report Format: PDF + Excel

Smart Coatings Market Overview

Smart Coatings Market size is expected to reach a value of $16.5 billion by the end of the year 2026 after growing at the CAGR of 24.1% during 2021-2026. The growth of smart coatings industry is driven by the significant demand for the product in key-use industries such as construction, aerospace & defense and healthcare. The growth of this industry can also be attributed to the self-healing and self-repair properties such as anti-corrosion, anti-abrasion and anti-slippery properties of these coatings which makes them suitable for various important purposes such as material protection, corrosion protection and other improvement applications. Smart coatings such as Nano coatings and Polyaniline coating are highly durable which is widely used for resisting electrical discharge and repelling dry particles, water, oil and dirt. Nano coating can make a surface scratch resistant, improve hardness which will help in easing surface tension and make it resistant to bacteria. This is driving the smart coatings market.

COVID-19 Impact

During the covid-19 pandemic, the smart coatings market witnessed downfall in terms of production and sales. The global lockdown led to various hurdles such as restrictions in trading, exports and imports which affected the market dynamics of the smart coatings market. The Smart Coatings top 10 companies incurred huge losses during this period. Though the Covid-19 crisis has affected the smart coatings market in terms of logistics and supply chains, the market is expected to grow with a gradual rate in the near future.

Smart Coatings Market Report Coverage

The report: “Smart Coatings Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Smart Coatings Industry.

By Coating Types: Self-Healing Coating, Self-Cleaning Coating, Micro-Capsule Healing Coating, Anti-Corrosion Coating, Super-hydrophobic, Antimicrobial, Anti-fogging/de-icing, Anti-fouling, Electrochromic, Self-assembling, Anti-fingerprint and Others
By Layer: Single-Layer and Multi-Layer.
By End-User Industry: Building & Construction, Automotive, Aerospace & Defence, Medical & Healthcare, Electrical & Electronics, Consumer Goods, Marine, Oil & Gas, Food & Beverage Industry, Power & Energy, Textile and Others.
By Geography: North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, France, Netherlands, Belgium Spain, Russia and Rest of Europe), APAC (China, Japan India, South Korea, Australia, New Zealand, Indonesia, Taiwan, Malaysia), South America (Brazil, Argentina, Colombia, Chile and Rest of South America) and RoW (Middle East and Africa).

Key Takeaways

  • North American market is expected to hold the largest share in the smart coatings market, which is attributed by the booming automotive industry and the technology advancement in infrastructure.
  • The growth in smart coatings market is also driven by the increase in use of these coatings in industries such as automotive, healthcare and construction.
  • The unique traits of these coatings such as self-healing, anti-corrosion etc., are giving a huge boost to the products in the market.
  • The smart coatings market also presents a significant opportunity for small manufacturers and start-ups in terms of innovation and development.

 FIGURE: Smart Coatings Market Revenue, 2020-2026 (US$ Billion)

For More Details on This Report - Request for Sample

Smart Coatings Market Segment Analysis – By Coating Types

Anti-corrosion segment held the highest share in the smart coatings market in the year 2020. Anti-corrosion market holds the biggest share in major end-use industries such as automotive & transportation and construction market, owing to its wide acceptance in these industries across the globe. There are several types of coatings used in various types of products and industries. Therefore, the types of coatings solely depend upon the nature of product and industry it has been used for. Self-cleaning coating type is high in end use industries such as medical & healthcare, and textiles.

Smart Coatings Market Segment Analysis –By Layer

Multi-Layer held the largest share in the smart coatings market, with 47% in the year 2020. Multi-layer smart coatings are the fastest growing layer type in the market, owing to their increased application in automotive and construction. Various smart coatings such as Nano coatings and Polyaniline coating are widely used owing to their superior qualities such as resistance to scratch, electricity and abrasion. Multi-layer has also proven to enhance the functionalities of the products, making it the preferred type of coating layer in the market. This is driving the multi-layer segment in the smart coatings market.

Smart Coatings Market Segment Analysis –By End-User Industry

The defence & military industry held the major share in the smart coatings market in the year 2020 and is likely to lead the global market over the forecasted tenure. The growth of smart coatings market varies from each end user industry and depends on the nature and type of product it is being used for. Smart coatings (Nano coatings and Polyaniline coating) have distinct properties and functionalities and is used based on various requirements. In the key end use industry such as automotive & transportation, the demand for anti-corrosion coatings is high in terms of volume consumption, for reasons such as protection of body parts, closures of doors, lock parts, exhausts, suspensions, engine components, abrasion and clamps & hose connections. In terms of volume consumption. In the defence & military industry the demand for self- repair coating is high due to their requirements for customized, in- built AI systems and advanced detection abilities.

Smart Coatings Market Segment Analysis – By Geography

North America held the highest share of more than 30% in the smart coatings market in the year 2020. North America also established itself as the market leader in this industry. The reasons for increased demand in North America can be attributed to factors such as the use of advanced technology in development of infrastructures in the field of military, consumer electronics, automotive and healthcare. Growing activities of research and development has also contributed to the country being a market leader. Asia Pacific is also expected to hold a significant share in the market owing to the rapid developments in infrastructure and manufacturing sectors in these regions.

Smart Coatings Market Driver

Technological advancement and Enhanced product life

The advent in technology is paving way for smart coatings to become one of the important types of coating. With the advent of technology, high-end industrial buildings & residential buildings, high-end electronics, technologically advanced vehicles, quality health-care facilities etc., has given a huge boost to the demand for superior and quality products such as Nano coatings and Polyaniline coating and other smart coatings. Smart coatings provide high quality performance which further helps in extending the product life and enhance the product efficiency. This also helps in reducing maintenance, both in terms of cost and physical maintenance. This proves to be economical in the long run. The enhanced product life and high-quality performance also makes the product environmentally friendly.

Superior properties and Rising demand from end use industries

The superior properties of smart coatings such as anti-corrosion, anti-fouling, anti-bacterial, self-healing, self-cleaning are the biggest advantages for such coatings, which has exponentially surged the demand for such coatings in the market. These superior properties of smart coatings is very unique and cannot be provided with any other type of coating, which has helped create a unique position in the market for these coatings. The rising demand from major end-use industries such as building & construction, automotive, electrical & electronics and consumer goods have surged the demand for smart coatings in the market. Product innovation and product expansion have given rise to the use of smart coatings in most of the end-user industries, thus becoming the key users of such products.

Smart Coatings Market Challenges

High cost of smart coating, government regulations and economic slowdown

Owing to the high quality and properties of these coatings, they are relatively expensive too. They are priced slightly higher than the rest of the products in the market and this could pose as a hindrance to the growth of these coatings. End users with a high budget are the ones who seem to be able to afford such products at high range of prices without any financial strain. Strict government rules and regulations regarding the manufacture and import & export of such coatings pose as a major challenge to the smart coatings market. Adding on to it, the recent slowdown in economic activities and situation, and the demand for these coatings has reduced to a great deal and the manufacturing and importing and exporting has taken a major hit, which could take a while to recover.

Smart Coatings Market Industry Outlook

Technological advancements, adoption of developmental strategies, diverse product portfolio, acquisition and mergers are some of the key strategies adopted by players in the Smart coatings Market. Major players in the Smart coatings Market are The Sherwin-Williams Company, Tremco Incorporated, PPG Industries, NEI Corporation, AkzoNobel, Axalta Coatings Systems, The Dow Chemical Co., 3M Company, Bayer AG and NEI Corporation among others.

Acquisitions/Technology Launches

  • In November 2020, PPG industries came up with a new customization option that provides enhanced shielding performance for electronic passports and other electronic security documents.
  • In September 2019, Axalta Coatings Systems acquired Capital Paints LLC, a UAE-based coatings manufacturer specialised in powder coatings. This helped Axalta in expanding its footprint in the Middle East and North Africa and paved way for future business growth in the region.

Relevant Reports

Medical Coatings Market – Forecast (2021 - 2026)
Report Code: CMR 0675

Decorative Coating Market– Forecast (2021 - 2026)
Report Code: CMR 0106

South American Industrial Coatings Market– Forecast (2021 - 2026)
Report Code: CMR 1118

For more Chemicals and Materials Market reports, please click here

1. Smart Coatings Market- Market Overview
    1.1 Definitions and Scope
2. Smart Coatings Market - Executive Summary
    2.1 Key Trends by Product Type
    2.2 Key Trends by Form
    2.3 Key Trends by Application
    2.4 Key Trends by End-Use Industry
    2.5 Key Trends by Geography
3. Smart Coatings Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Smart Coatings Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Smart Coatings Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Smart Coatings Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Smart Coatings Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Smart Coatings Market – By Coating Types (Market Size -$Billion)
    8.1 Self-Healing Coating
    8.2 Self-Cleaning Coating
    8.3 Micro-Capsule Healing Coating
    8.4 Anti-Corrosion Coating
    8.5 Super-hydrophobic
    8.6 Antimicrobial
    8.7 Anti-fogging/de-icing
    8.8 Anti-fouling
    8.9 Electrochromic
    8.10 Self-assembling
    8.11 Anti-fingerprint
    8.12 Others
9. Smart Coatings Market – By Layer (Market Size -$Billion)
    9.1 Single-Layer
    9.2 Multi-Layer
10. Smart Coatings Market – By End Use Industry (Market Size -$Billion)
    10.1 Building & Construction
    10.2 Automotive
    10.3 Aerospace & Defence
    10.4 Medical & Healthcare
    10.5 Electrical & Electronics
    10.6 Consumer Goods
    10.7 Marine
    10.8 Oil & Gas
    10.9 Food & Beverage Industry
    10.10 Power & Energy
    10.11 Textile
    10.12 Others
11. Smart Coatings Market - By Geography (Market Size -$Million/Billion)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Netherlands
        11.2.6 Spain
        11.2.7 Russia
        11.2.8 Belgium
        11.2.9 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zeeland
        11.3.6 Indonesia
        11.3.7 Taiwan
    11.3.8 Malaysia
        11.3.9 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 U.A.E
            11.5.1.3 Israel
            11.5.1.4 Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 Rest of Africa
12. Smart Coatings Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Smart Coatings Market – Market Share Analysis Premium
    13.1 Market Share at Global Level - Major companies
    13.2 Market Share by Key Region - Major companies
    13.3 Market Share by Key Country - Major companies
    13.4 Market Share by Key Application - Major companies
    13.5 Market Share by Key Product Type/Product category - Major companies
14. Smart Coatings Market – Key Company List by Country Premium Premium
15. Smart Coatings Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global Smart Coatings Market By Function Market 2023-2030 ($M)
1.1 Anti-Microbial Market 2023-2030 ($M) - Global Industry Research
1.2 Anti-Corrosion Market 2023-2030 ($M) - Global Industry Research
1.3 Anti-Fouling Market 2023-2030 ($M) - Global Industry Research
1.4 Anti-Icing Market 2023-2030 ($M) - Global Industry Research
1.5 Self-Cleaning Market 2023-2030 ($M) - Global Industry Research
1.6 Self-Healing Market 2023-2030 ($M) - Global Industry Research
2.Global Smart Coatings Market By End-Use Industry Market 2023-2030 ($M)
2.1 Automotive & Transportation Market 2023-2030 ($M) - Global Industry Research
2.2 Marine Market 2023-2030 ($M) - Global Industry Research
2.3 Building & Construction Market 2023-2030 ($M) - Global Industry Research
2.4 Aerospace & Defense Market 2023-2030 ($M) - Global Industry Research
3.Global Smart Coatings Market By Function Market 2023-2030 (Volume/Units)
3.1 Anti-Microbial Market 2023-2030 (Volume/Units) - Global Industry Research
3.2 Anti-Corrosion Market 2023-2030 (Volume/Units) - Global Industry Research
3.3 Anti-Fouling Market 2023-2030 (Volume/Units) - Global Industry Research
3.4 Anti-Icing Market 2023-2030 (Volume/Units) - Global Industry Research
3.5 Self-Cleaning Market 2023-2030 (Volume/Units) - Global Industry Research
3.6 Self-Healing Market 2023-2030 (Volume/Units) - Global Industry Research
4.Global Smart Coatings Market By End-Use Industry Market 2023-2030 (Volume/Units)
4.1 Automotive & Transportation Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Marine Market 2023-2030 (Volume/Units) - Global Industry Research
4.3 Building & Construction Market 2023-2030 (Volume/Units) - Global Industry Research
4.4 Aerospace & Defense Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America Smart Coatings Market By Function Market 2023-2030 ($M)
5.1 Anti-Microbial Market 2023-2030 ($M) - Regional Industry Research
5.2 Anti-Corrosion Market 2023-2030 ($M) - Regional Industry Research
5.3 Anti-Fouling Market 2023-2030 ($M) - Regional Industry Research
5.4 Anti-Icing Market 2023-2030 ($M) - Regional Industry Research
5.5 Self-Cleaning Market 2023-2030 ($M) - Regional Industry Research
5.6 Self-Healing Market 2023-2030 ($M) - Regional Industry Research
6.North America Smart Coatings Market By End-Use Industry Market 2023-2030 ($M)
6.1 Automotive & Transportation Market 2023-2030 ($M) - Regional Industry Research
6.2 Marine Market 2023-2030 ($M) - Regional Industry Research
6.3 Building & Construction Market 2023-2030 ($M) - Regional Industry Research
6.4 Aerospace & Defense Market 2023-2030 ($M) - Regional Industry Research
7.South America Smart Coatings Market By Function Market 2023-2030 ($M)
7.1 Anti-Microbial Market 2023-2030 ($M) - Regional Industry Research
7.2 Anti-Corrosion Market 2023-2030 ($M) - Regional Industry Research
7.3 Anti-Fouling Market 2023-2030 ($M) - Regional Industry Research
7.4 Anti-Icing Market 2023-2030 ($M) - Regional Industry Research
7.5 Self-Cleaning Market 2023-2030 ($M) - Regional Industry Research
7.6 Self-Healing Market 2023-2030 ($M) - Regional Industry Research
8.South America Smart Coatings Market By End-Use Industry Market 2023-2030 ($M)
8.1 Automotive & Transportation Market 2023-2030 ($M) - Regional Industry Research
8.2 Marine Market 2023-2030 ($M) - Regional Industry Research
8.3 Building & Construction Market 2023-2030 ($M) - Regional Industry Research
8.4 Aerospace & Defense Market 2023-2030 ($M) - Regional Industry Research
9.Europe Smart Coatings Market By Function Market 2023-2030 ($M)
9.1 Anti-Microbial Market 2023-2030 ($M) - Regional Industry Research
9.2 Anti-Corrosion Market 2023-2030 ($M) - Regional Industry Research
9.3 Anti-Fouling Market 2023-2030 ($M) - Regional Industry Research
9.4 Anti-Icing Market 2023-2030 ($M) - Regional Industry Research
9.5 Self-Cleaning Market 2023-2030 ($M) - Regional Industry Research
9.6 Self-Healing Market 2023-2030 ($M) - Regional Industry Research
10.Europe Smart Coatings Market By End-Use Industry Market 2023-2030 ($M)
10.1 Automotive & Transportation Market 2023-2030 ($M) - Regional Industry Research
10.2 Marine Market 2023-2030 ($M) - Regional Industry Research
10.3 Building & Construction Market 2023-2030 ($M) - Regional Industry Research
10.4 Aerospace & Defense Market 2023-2030 ($M) - Regional Industry Research
11.APAC Smart Coatings Market By Function Market 2023-2030 ($M)
11.1 Anti-Microbial Market 2023-2030 ($M) - Regional Industry Research
11.2 Anti-Corrosion Market 2023-2030 ($M) - Regional Industry Research
11.3 Anti-Fouling Market 2023-2030 ($M) - Regional Industry Research
11.4 Anti-Icing Market 2023-2030 ($M) - Regional Industry Research
11.5 Self-Cleaning Market 2023-2030 ($M) - Regional Industry Research
11.6 Self-Healing Market 2023-2030 ($M) - Regional Industry Research
12.APAC Smart Coatings Market By End-Use Industry Market 2023-2030 ($M)
12.1 Automotive & Transportation Market 2023-2030 ($M) - Regional Industry Research
12.2 Marine Market 2023-2030 ($M) - Regional Industry Research
12.3 Building & Construction Market 2023-2030 ($M) - Regional Industry Research
12.4 Aerospace & Defense Market 2023-2030 ($M) - Regional Industry Research
13.MENA Smart Coatings Market By Function Market 2023-2030 ($M)
13.1 Anti-Microbial Market 2023-2030 ($M) - Regional Industry Research
13.2 Anti-Corrosion Market 2023-2030 ($M) - Regional Industry Research
13.3 Anti-Fouling Market 2023-2030 ($M) - Regional Industry Research
13.4 Anti-Icing Market 2023-2030 ($M) - Regional Industry Research
13.5 Self-Cleaning Market 2023-2030 ($M) - Regional Industry Research
13.6 Self-Healing Market 2023-2030 ($M) - Regional Industry Research
14.MENA Smart Coatings Market By End-Use Industry Market 2023-2030 ($M)
14.1 Automotive & Transportation Market 2023-2030 ($M) - Regional Industry Research
14.2 Marine Market 2023-2030 ($M) - Regional Industry Research
14.3 Building & Construction Market 2023-2030 ($M) - Regional Industry Research
14.4 Aerospace & Defense Market 2023-2030 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Smart Coatings Market Revenue, 2023-2030 ($M)
2.Canada Smart Coatings Market Revenue, 2023-2030 ($M)
3.Mexico Smart Coatings Market Revenue, 2023-2030 ($M)
4.Brazil Smart Coatings Market Revenue, 2023-2030 ($M)
5.Argentina Smart Coatings Market Revenue, 2023-2030 ($M)
6.Peru Smart Coatings Market Revenue, 2023-2030 ($M)
7.Colombia Smart Coatings Market Revenue, 2023-2030 ($M)
8.Chile Smart Coatings Market Revenue, 2023-2030 ($M)
9.Rest of South America Smart Coatings Market Revenue, 2023-2030 ($M)
10.UK Smart Coatings Market Revenue, 2023-2030 ($M)
11.Germany Smart Coatings Market Revenue, 2023-2030 ($M)
12.France Smart Coatings Market Revenue, 2023-2030 ($M)
13.Italy Smart Coatings Market Revenue, 2023-2030 ($M)
14.Spain Smart Coatings Market Revenue, 2023-2030 ($M)
15.Rest of Europe Smart Coatings Market Revenue, 2023-2030 ($M)
16.China Smart Coatings Market Revenue, 2023-2030 ($M)
17.India Smart Coatings Market Revenue, 2023-2030 ($M)
18.Japan Smart Coatings Market Revenue, 2023-2030 ($M)
19.South Korea Smart Coatings Market Revenue, 2023-2030 ($M)
20.South Africa Smart Coatings Market Revenue, 2023-2030 ($M)
21.North America Smart Coatings By Application
22.South America Smart Coatings By Application
23.Europe Smart Coatings By Application
24.APAC Smart Coatings By Application
25.MENA Smart Coatings By Application
26.3M, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.PPG Industries, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Akzonobel, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Axalta Coating Systems, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Hempel, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Jotun, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.DOW Corning Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Sherwin-Williams, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.RPM International, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.NEI Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Additional Companies, Sales /Revenue, 2015-2018 ($Mn/$Bn)