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Nano Coating Market Size
- Report ID: GMI7451
- Published Date: Jun 2024
- Report Format: PDF
Nano Coating Market Size
Nano Coating Market size reached over USD 8.2 billion in 2023 and will expand at 16.3% CAGR from 2024 to 2032, driven by the rising demand for protective coatings across various industries.
The excellent performance characteristics of nano coatings, including high strength, corrosion resistance and advanced UV protection will drive the market growth. These properties are making nano coatings highly desirable in automotive, aerospace and in the maritime industry, where they are used in automobiles, aircraft and ships. To illustrate, in October 2024, Asyad Group’s Asyad Drydock disclosed the successful application of a nano-epoxy coating on Jabal Al Kawr, its Ultramax bulk carrier.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Nano Coating Market Size in 2023: | USD 8.2 billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 16.3% |
| 2032 Value Projection: | USD 30.7 billion |
| Historical Data for: | 2021 – 2023 |
| No. of Pages: | 374 |
| Tables, Charts & Figures: | 275 |
| Segments covered: | Type, Substrate, End-use Industry |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The construction sector is also benefitting from nano coatings to protect buildings and the environment with reduced maintenance costs, and improved energy efficiency. The shift towards lightweight materials is increasing the adoption of nanocoatings as they provide effective protection without adding significant weight. Rapid technology advancements and investments in R&D activities are further creating new high-performance nano-coatings to cater to diverse applications.
Nanocoatings generally contain low levels of volatile organic compounds (VOCs) compared to conventional coatings, making them eco-friendly and compatible to meet stringent environment regulations. The medical and healthcare industries are using nano coatings for their antibacterial and antiviral properties as they are essential to maintain hygiene standards and prevent infection. For instance, in March 2023, Amcor partnered with Nfinite Nanotechnology for research on applying nanocoating technology to enhance oxygen barrier in recyclable packaging.
However, high administrative costs and technical difficulties associated with the manufacturing process may hinder the demand for nano coatings. The production of nano-coatings requires significant investment in R&D, equipment as well as skilled labor. The rising concerns about the health and environmental effects of nanoparticles could also restraint regulatory approval and increase compliance costs.
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Nano Coating Market Scope
