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 the latest report by Reports and Data. Increasing demand for Smart Coatings Concrete in the 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 Concrete 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 Concrete can be designed to enhance the reflectance of a glass surface at a specific wavelength of light. Reflective properties of Smart Coatings Concrete 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 Concrete market during the forecast period.
However, concerns regarding stringent regulatory policies and environmental challenges are expected to hamper the revenue growth of the market during the forecast period. Smart Coatings is considered harmful to the environment due to the release of gases during synthesis and the use of solvents such as Volatile Organic Compounds (VOCs) that emit toxic peroxides into the environment. These compounds are considered harmful to the environment since they contribute to ozone and smog formation. The Smart Coatings Concrete industry is facing environmental and legal challenges as governments of various countries are placing more focus on the regulation of Volatile Organic Compounds (VOCs) and are implementing strict rules demanding the use of environment-friendly green products. Manufacturers have been forced to produce environment-friendly Smart Coatings Concrete with low VOC levels due to strict regulations imposed by the European Union's Registration, Evaluation, Authorisation, and Restriction of Chemicals (REACH), the United States Environmental Protection Agency (USEPA), Leadership in Energy and Environmental Design (LEED), and other regional regulatory authorities.
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Market Overview:
Demand for innovative materials is driven by transformations in the energy, automotive, logistics, manufacturing, construction, and other industries, as well as growing industry 4.0 technologies. Sustainability, lightweighting, 3D printing, and surface engineering are all hot topics in the materials sector, as are intelligent materials, nano-formulations, and new composites with improved properties. Furthermore, increased adoption of artificial intelligence (AI), machine learning (ML), and data management strategies encourages scientists to investigate and develop novel materials considerably more quickly, reducing time-to-market from decades to only a few years.
Key companies profiled in the Smart Coatings reports are BASF SE, The Sherwin-Williams Company, PPG Industries, Inc., Eastman Chemical Company, RPM International, Inc., and Axalta Coating Systems, LLC, Jotun A/S, Tesla Nanocoatings, Inc., NEI Corporation, and Helicity Technologies, Inc.
Layers Outlook (Revenue, USD Billion; 2018-2030)
- Single-Layer
- Multi-Layer
Function Outlook (Revenue, USD Billion; 2018-2030)
- Anti-Microbial
- Anti-Corrosion
- Anti-Fouling
- Anti-Icing
- Self-Cleaning
- Self-Healing
Sensing Type Outlook (Revenue, USD Billion; 2018-2030)
- pH
- Ionic Strength
- Temperature
- Pressure
- Surface Tension
- Electric or Magnetic Fields
- Light
- Acoustics
- Mechanical Forces
End-Use Outlook (Revenue, USD Billion; 2018-2030)
- Automotive & Transportation
- Marine
- Building & Construction
- Aerospace & Defense
- Electronics
- Medical
- IT Technologies
- Agriculture
- Household
- Others
Regional analysis of the Smart Coatings market covers:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Questions Addressed by the Report:
- What are the key factors expected to drive and restrain Smart Coatings Concrete's market growth over the forecast period?
- What are the key products and applications offered by the Smart Coatings Concrete markets?
- What are the current and future market trends of the Smart Coatings Concrete market?
- Which segment is expected to show lucrative growth throughout the forecast period?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
- What are the key challenges and limitations the new entrants and companies will have to face in the Smart Coatings Concrete markets over the forecast period?
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