Market Size USD 4.11 Billion in 2021, Growth at a CAGR of 23.4%, Trend – Increasing application of smart coatings for architectural and decorative purposes
NEW YORK CITY, NEW YORK, UNITED STATES, July 21, 2022 /EINPresswire.com/ — The global smart coatings market size is expected to reach USD 27.25 Billion in 2030 and register a revenue CAGR of 23.4% over the forecast period, according to latest report by Reports and Data. Increasing demand for smart coatings in construction industry, along with rising demand for longer durability than traditional coatings, are expected to drive market revenue growth during the forecast period.
Increasing application of smart coatings for architectural and decorative purposes is expected to boost revenue growth of the market. Smart coatings are used on a variety of surfaces throughout houses, including tabletops, glass panels, photo frames, electronic devices, and lighting fixtures, among others. Smart nanotechnology coating on surfaces can improve handling, durability, and oxidation resistance without affecting performance. Additionally, smart coatings can be designed to enhance reflectance of a glass surface at a specific wavelength of light. Reflective properties of smart coatings can help make the surface a good choice for a variety of aesthetic applications. These factors are expected to boost revenue growth of the global smart coatings market during the forecast period.
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Some Key Highlights in the Report
Single-layer segment accounted for largest revenue share in 2020 owing to rising demand for multiple functionalities in electronic devices and equipment.
Self-healing segment revenue is expected to grow at a significantly steady rate over the forecast period. Rising demand for polyurethane smart coatings due to increasing awareness about its long-lasting, easy-to-clean, and self-repairing functionalities is contributing to growth of the segment.
Smart coatings market in Asia-Pacific accounted for largest revenue share in 2020. Large presence of construction and automotive industries using smart coatings in the region is expected to drive revenue growth of the Asia-Pacific market.
Companies profiled in the global market report include BASF SE, The Sherwin-Williams Company, PPG Industries, Inc., Eastman Chemical Company, RPM International, Inc., Axalta Coating Systems, LLC, Jotun A/S, Tesla Nanocoatings, Inc., NEI Corporation, and Helicity Technologies, Inc.
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Layers Outlook (Revenue, USD Billion; 2019-2030)
Function Outlook (Revenue, USD Billion; 2019-2030)
End-Use Outlook (Revenue, USD Billion; 2019-2030)
Automotive & Transportation
Building & Construction
Aerospace & Defense
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Regional Outlook (Revenue, USD Billion; 2019-2030)
Middle East & Africa
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