The growth of the automotive industry is one of the significant factors influencing the market growth.
New York City, United States – May 26, 2020 /MarketersMedia/ —
The global nanocoatings market is expected to reach USD 25.36 Billion by 2027, according to a new report by Reports and Data. The growth of the automotive industry is a significant factor in driving the growth of the nanocoatings market. Nanocoatings, when applied to automotive paintwork, offers a glossy finish and durable resistance to water, contaminants, and UV rays. Nanocoatings are thicker and hence can provide superior protection against etching and micro-marring. The water-repelling property of nanocoatings surpasses that of poly sealants significantly, as well as blocks oxidation and prevent UV rays batter than poly sealants.
The COVID-19 pandemic is having a significant impact on the chemicals & materials industry. Demand for chemicals is suffering severe shocks across various end-use markets, worldwide supply chains are upset, and the competitive order of manufacturers/producers has witnessed a change. The shortage of demand has fast-tracked the global chemical sector into an oversupply situation. The automotive and consumer product sectors are among the hardest hit end-markets, with the need for chemicals experiencing a considerable fall in demand. Further, with the disruption of the supply chain, chemical companies have commenced to partly ramp up or relocate the manufacturing of critical chemical supplies.
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Leading Nanocoatings manufacturers/companies operating at both regional and global levels:
Eikos Inc., Buhler PARTEC GmbH, Integran Technologies Inc., Bio-Gate AG, Nanofilm Ltd., Nanoveer Technologies LLC, Cima Nanotech Inc., P2i, Inframat Corporation, Nanophase Technologies Corporation, and Nanogate AG, among others.
For the purpose of this report, Reports and Data have segmented the global nanocoatings market on the basis of product type, distribution channel, industry vertical, and region:
Product Type Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
• Anti-Fouling & Easy-to-Clean
Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
Industry Vertical Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
• Building & Construction
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Further key findings from the report suggest
• By product, antimicrobial held the largest markets share in 2019 and is expected to grow at a rate of 18.0% in the forecast period. Antibacterial applications of nanocoatings are garnering importance to avert the disastrous impacts of antibiotic resistance. Nanocoatings may be used as diagnostics, preventives, drug carriers, and synergetic in the antimicrobial therapies.
• By distribution channel, the online distribution channel is projected to grow at a faster rate of 19.3% in the period 2020-2027, as this mode of distribution has the advantage of providing a broader exposure to the product produced by the manufacturers, especially with the proliferation of smart devices and internet connectivity.
• By industry vertical, the building & construction sector is likely to grow at a rate of 18.5% in the period 2020-2027. Nanocoatings are the thin film coatings of the nanoscale range that are implemented to protect the surface of numerous construction materials, such as glass, concrete, marble, steel, and sand limestone, among others.
• North America dominated the market in 2019 and is expected to grow at a rate of 17.7% in the forecast period. The market dominance of the North American Market is owing to the growth of the healthcare industry, advancement in technology, and the presence of market players in the region.
Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
• Asia Pacific
• Latin America
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To summarize, the global Nanocoatings market report studies the contemporary market to forecast the growth prospects, challenges, opportunities, risks, threats, and the trends observed in the market that can either propel or curtail the growth rate of the industry. The market factors impacting the global sector also include provincial trade policies, international trade disputes, entry barriers, and other regulatory restrictions.
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