Published on: May 2022
Uncovering the market secrets of Photocatalytic Nanocoatings one by one
Nanocoatings are nanotechnology coatings that have superior qualities over conventional coatings, such as abrasion resistance, hardness, transparency, ductility, and lubricity. Furthermore, they emit low VOCs, making them ideal for a variety of environmentally friendly applications. Nanocoatings come in a variety of forms, including antimicrobial, anti-fingerprint, convenient to clean & anti-fouling, and self-cleaning (bionic & Photocatalytic). In 2021, the global nanocoatings industry is expected to be worth US$ 10,511.1 million, growing at a CAGR of 24.7 percent over the forecast timeframe (2021-2028).
Examining the recent developments on Photocatalytic Nanocoatings
By 2020, the product's protective coating, known as 'nanoGAURD,' will have safeguarded 1.2 million production vehicles as well as a few autonomous vehicles on the road. Tesla Nanocoatings debuted a novel carbon nanotube-based solution for worker safety in January 2021. Carbon nanotubes, sacrificial Zinc, and non-skid aggregate are used to provide increased durability. ActNANO, a nanocoatings startup, raised USD 12 million in a series A financing in October 2020. To fulfill client demand, the company plans to grow its personnel throughout Asia and Europe. In terms of value, North America dominated the global nanocoatings market in 2020, accounting for 37.5 percent of the market, followed by Europe and Asia Pacific, respectively. Because of the high demand from the medical and automotive coatings industries, the global nanocoatings market is expanding.
Drivers that safe track the product coating and market face value
The growing market for nanocoatings in automotive applications is moving the nanocoatings market forward. Due to their UV, depreciation, and heat resistant capabilities, these coatings are used to protect the surfaces of vehicles, particularly luxury vehicles. The demand for coatings is propelling the market expansion of nanocoatings over the predicted timeframe, thanks to strong development in the automotive sector due to increased vehicle manufacturing. The increasing requirement for healthcare device coatings is a major element driving nanocoatings market expansion. Nanocoatings help to avoid bacterial contamination while also improving the surfaces and performances. As many medical equipment need non-stick coatings over-molded, biocompatible, and other finishes, it also helps to reduce friction between tissues and devices. As a result of their wear resistance and antimicrobial qualities, nanocoatings are in high demand in the healthcare business.
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