Published Date : May 26, 2016
The global market for nanocoatings has been witnessing an exponential increase in its valuation. The growing application of coatings in automobiles and medical devices is having a positive influence on this market. The eco-friendliness of nanocoatings is also adding significantly to its rising popularity, fueling the demand for nanocoatings across the world.
North America Dominates Global Nanocoatings Market
North America leads the global market for nanocoatings. In 2012, the regional market accounted for more than 40% of the overall market. The increasing demand for nanocoatings from the medical and healthcare industry is boosting the North America market for nanocoatings. Analysts predict this regional market to maintain its position over the next few years.
Asia Pacific, on the other hand, is anticipated to record the fastest growth in the worldwide nanocoatings market in the near future. The extensive rise in the automotive industry and the electronics market in this region is likely to fuel the demand for nanocoatings in this region.
The markets for nanocoatings in Europe and the Rest of the World are also expected to report significant growth in the coming years. The rising awareness pertaining to environmental benefits nanocoatings offer compared to traditional coatings are projected to increase the demand for them in Europe. The increasing government initiatives to promote eco-friendly chemicals is stimulating the market for nanocoatings in the Rest of the World.
Global Market for Nanocoatings Exhibits Fragmented Nature
The global market for nanocoatings is highly competitive and fragmented in nature and is dominated by small market players. Leading companies such as Buhler PARTEC GmbH, P2i Ltd., Nanogate AG, Nanophase Technologies Corp., Bio-Gate AG, and Nanofilm Ltd., together account for a meager share of approximately 10% in the overall market.
Cima NanoTech Inc., Eikos Inc., Integran Technologies Inc., Inframat Corp., and Nanovere Technologies LLC are some of the other prominent producers of nanocoatings in the global market.