Nano Paints & Coatings Market - Forecast(2024 - 2030)
Nano Paints Coatings Market Overview
Nano paints
& coatings market size is forecast to reach $13.2 billion by 2026, after
growing at a CAGR of 4.8% during 2021-2026, owing to the increasing demand for nanotechnology
in paints & coatings. Graphene, carbon nanotubes, and nano silver are the
mostly employed nanotechnology resin in the paints and coatings industry. Nano paints and coatings demand is increasing
as they are extensively employed in various end-use industries to improve
product properties such as abrasion and wear resistance, chemical and corrosion
resistance, the stealth/IR shielding effect in defense applications, anti-reflection
(AR) properties, and flame retardancy. The rapid growth of the automotive and marine
industry has increased the demand for superhydrophobic coating nano paints
& coatings; thereby, fueling the market growth. Furthermore, the
flourishing aerospace industry is also expected to drive the nano paints &
coatings industry substantially during the forecast period.
COVID-19 Impact
However, due to
coronavirus, the manufacturing of new aircraft has seen
a downward trend in various regions, which is hampering the nano paints &
coatings materials market growth. The impact on the Middle East aviation
industry and economies caused by the shutdown of air traffic due to the
COVID-19 pandemic has worsened, according to the International Air Transport
Association (IATA). In addition, full-year 2020 traffic is expected to plummet
by 51% compared to 2019. According to the Welsh Government services and
information, globally (over all manufacturers) demand for production of short
haul sized aircraft is likely to drop by 15% (around 1,500 fewer aircraft out
of 10,000) and by 30 - 65% for long haul sized craft, by the end of 2025,
(around 600 - 1,300 fewer aircraft out of 2,000). This drop in the aerospace
manufacturing is projected to hinder the nano paints & coatings market
growth in various regions.
Report Coverage
The report: “Nano Paints & Coatings Market – Forecast (2021-2026)”, by
IndustryARC, covers an in-depth analysis of the following segments of the nano
paints & coatings Industry.
By Type: Superhydrophobic Coating,
Oleophobic/Hydrophobic Coatings, Hydrophilic Coatings, Ceramic, Metal, and
Glass Coatings.
By Resin Type: Graphene, Carbon Nanotubes,
Carbon Fullerenes, Nano Silicon Dioxide, Nano Silver, Nano Titanium Dioxide,
Nano Zinc Oxide, Nano Aluminium Oxide, and Others.
By Method: Electrospray and Electro
Spinning, Chemical Vapor Deposition (CVD) Method, Physical Vapor Deposition
(PVD) Method, Dip Coating Method, Thermal Spray method, Spray Coating and Spin
Coating Method, Cold Spray Method, Sol-Gel Method, Solution Dispersion, and
Others.
By End-Use
Industry: Automobile
(Passenger Cars, Light Commercial Vehicles (LCV), and Heavy Commercial Vehicles
(HCV)), Building and Construction (Residential, Commercial, Industrial, and Infrastructural),
Marine (Cargo, Passenger, Supply Vessels, and Others), Aerospace (Commercial, Military,
and Others), Power Generation (Wind Energy, Photovoltaics, Hydro/Tidal Power,
and Others), Medical and Biomedical (Medical Devices, Dental Implants, and
Others), and Others.
By Geography:
North America (U.S., Canada, and Mexico), Europe
(U.K, Germany, France, Italy, Netherland, Spain, Russia, Belgium, and Rest of
Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New
Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil,
Argentina, Colombia, Chile, and Rest of South America), Rest of the World
(Middle East, and Africa).
Key Takeaways
- Asia-Pacific dominates the nano paints & coatings market, owing to the increasing aerospace industry in the region. China is estimated to require around 6,810 new commercial aircraft, valued at USD 1 trillion, in 2016, according to Boeing, over the next two decades.
- Nano paints and coatings such as superhydrophobic coating and hydrophilic coatings provide complete protection against heat, UV rays, corrosion, and weight due to the presence of a very high volume ratio among the nanoparticles. This property of nano paints & coatings is projected to increase the market growth.
- Increasing technological advances, such as in military and defense, will increase the use of nanotechnology-based paint and coatings. These variables tend to drive the market's growth.
- Due to the Covid-19 pandemic, most of the countries have gone under lockdown, due to which the projects and operations of various industries such as construction and automotive are disruptively stopped, which is hampering the nano paints & coatings market growth.
Figure: Asia-Pacific Nano Paints & Coatings Market Revenue, 2020-2026 (US$ Million)
For More Details on This Report - Request for Sample
Nano Paints & Coatings Market Segment Analysis – By Resin Type
The graphene segment held the largest
share in the nano paints & coatings market in 2020 and is growing at a CAGR
of 5.3% during 2021-2026, owing to the various advantages that it offers such
as high thermal and electrical conductivity, stability, increased stiffness and
strength, surface hardness, and more. By replacing carbon fiber, nano-clays,
nano silver, carbon nanotubes, and other composite materials in different
applications, graphene's higher efficiency has supported its increasing use. Moreover,
it is flame-retardant and also reduces the component mass and improves the
appearance of the surface due which its demand in a wide range of applications,
such as aerospace, electronics, transportation, paints and coatings, sports
equipment, and biomedical & healthcare, in increasing. All these extensive
characteristics of graphene are the key factor anticipated to boost the demand
for graphene-based nano paints & coatings during the forecast period.
Nano Paints & Coatings Market Segment Analysis – By Method
The chemical vapor deposition (CVD)
segment held the largest share in the nano paints & coatings market in 2020.
CVD has become the major method of film deposition for the paints &
coatings industry due to its high throughput, high purity, and low cost of
operation. In optoelectronics applications, optical coatings, and
wear-resistant parts coatings, CVD is also commonly used, often using carbon
nanomaterials. CVD has many advantages over the methodologies of physical vapor
deposition (PVD), such as better molecular beam evaporation and sputtering. CVD
utilizes source materials that flow into the route chamber from external
reservoirs that can be refilled without the contamination of the growth
environment. Furthermore, CVD does not require very high levels of vacuum and
can process substrates in larger batches in general. Furthermore, during the
manufacture of nano paint and coatings, the CVD method is more forgiving in
terms of its tolerance for precision in the process conditions. Thus, during
the forecast period, these are the major drivers of the growth of chemical
vapor deposition.
Nano Paints & Coatings Market Segment Analysis – By End-Use Industry
The aerospace segment held the largest
share in the nano paints & coatings market in 2020 and is growing at a CAGR
of 6.5% during 2021-2026, owing to the increasing usage of nano paints &
coatings in the aerospace industry. Durability, reliability, resistance to
erosion and sliding, surface quality, UV resistance, and thermal insulation are
improved by nanoparticles used in nano paints & coatings. Nano paints &
coatings offer low VOC emissions and add features to aircraft frames,
interiors, exteriors, turbine blades, component surfaces, and components of the
engine. Nano paints & coatings help shield the structure and surface of an
aircraft from adverse environments, changing temperature conditions, high
pressure, and drag reduction. This helps to save fuel and to stop thermal
shocks. Nano paints & coatings also provide crack healing, enhanced
resistance to high temperatures, increased strength, reduced carbon footprint,
lower costs of cleaning and maintenance, corrosion and erosion protection, and
reduced ice accretion, owing to which the demand for nano paints & coatings
in the aerospace industry is growing during the forecast period.
Nano Paints & Coatings Market Segment Analysis – By Geography
Asia-Pacific region held the largest
share in the nano paints & coatings market in 2020 up to 32%, owing to the
increasing demand for nano paints & coatings from the aerospace industry in
the region. In 2019, China was the second-largest civil aerospace and aviation
services market in the world and one of the fastest-growing markets, according
to the International Trade Administration (ITA). China will need 7,690 new
aircraft over the next 20 years, valued at US$1.2 trillion, according to Boeing
(Commercial Market Outlook 2018-2037). During this period, around 74 percent of
the demand for single-aisle aircraft will be, while for wide-body, the demand
will be 21 percent. China also currently accounts for 15 percent of the world's
commercial aircraft fleet, and it will be almost 20 percent by 2037. According to the
International Trade Administration (ITA), in 2018 the Indian government spent a
total of $645 in the civil aviation sector. According to Boeing, demand for
2,300 aircraft, worth US$320 billion, is also expected to increase over the
next 20 years in India. Thus, with the expanding aerospace industry in the
region, the demand for nano paints & coatings will also subsequently
increase, which is anticipated to drive the nano paints & coatings market
in the APAC region during the forecast period.
Nano Paints & Coatings Market Drivers
Increasing Automotive Production
Nanomaterials incorporated into nano paints & coatings have been
adopted in the automotive industry for increasing hardness and durability. In
the performance of internal mechanical components of a vehicle, such as an
engine, coatings containing nanoscale carbides, nitrides, metals, or ceramics
play a key role. The nano paints & coatings reduce wear and friction, which
then increase the lifetime of the working material, while reducing the
dissipation of energy as heat, thus increasing the efficiency of the vehicle. There is an
upsurge in the demand for commercial vehicles in the country, according to the
Korea Trade & Investment Promotion Agency (KOTRA). In 2018, sales of Saudi
Arabian commercial vehicles (CVs) reached 82,027 units and are expected to
reach 97,188 by 2023. According to OICA, the production of light commercial vehicles has
increased from 495,123 in 2018 to 527,262 in 2019, an increase of 6.5% in France. Thus, increasing
automation production will require more nano paints & coatings, which will
act as a driver for the nano paints & coatings market during the forecast
period.
Expanding Building and Construction Sector
The building and construction sector is
expanding in various regions owing to the increasing population, and per capita
income of individuals. The UK government's strategic plan 2018/19 – 2022/23,
the government aims to deliver 300 homes, begin construction on 1,000 town center
apartments, and launch phase three at Northstowe by 2022/23. In addition, the
objective of the European Construction 2020 Action Plan was to stimulate
favorable investment conditions. Due to various government initiatives, such as
Foreign Direct Investments, construction and construction activities are also
increasing (FDI). The superhydrophobic coating based nano paints & coatings
are regarded as the most promising high-performance materials for construction
applications. Due to their self-assembly effect when compared with conventional
coating materials, they represent remarkable characteristics against
environmental agents in the building and construction industry. Such
investments by the governments are driving the construction sector in various
regions. Thus, the expanding building and construction sector acts as a driver
for market growth during the forecast period.
Nano Paints & Coatings Market Challenges
High Cost of Raw Material
The
prices of nano paints & coatings largely depend on the cost of raw
material. The main raw materials are titanium dioxide, graphene, and carbon
nanotubes. The temperatures required for this process are extremely high
because titanium has such a high melting point, and it is believed that the
conversion of the metal to ingots accounts for around 30 percent of the entire
process's cost. There is a need for a lot of energy and the process is labor-intensive.
The strength of titanium implies that the process is slow and around 90 percent
of the original material has been lost once the finished product is finished. Thus,
nano paints & coatings prices are very much dependent on raw materials. Thus,
any rise in the price of raw materials would lead to a shift in the price of paints
and coatings.
Nano Paints & Coatings Market Landscape
Technology launches, acquisitions, and
R&D activities are key strategies adopted by players in the nano paints
& coatings market. Major players in the nano paints & coatings market
are Dura Coat Products, I-CanNano, Henkel Corporation, DuPont, Evonik, Wacker
Chemie, Beckers Group, Akzo Nobel, PPG Industries, Valspar, Nanovere
Technologies LLC., Yung Chi Paint & Varnish Mfg., and BASF SE.
Acquisitions/Technology Launches
- In October 2020, by investing in Actnano, USA, Henkel Adhesive Technologies boosted its market offerings for functional coatings. The advanced materials start-up provides a unique customized conformal coating technology for the protection of printed circuit boards.
Relevant Reports
Report Code: CMR 0185
Report Code: CMR 0227
For more Chemicals and Materials Market reports, please click here
1. Nano Paints & Coatings Market- Market Overview
1.1 Definitions and Scope
2. Nano Paints & Coatings Market- Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key Trends by Type
2.3 Key Trends by Resin Type
2.4 Key Trends by Method
2.5 Key Trends by End-Use Industry
2.6 Key Trends by Geography
3. Nano Paints & Coatings Market – Comparative analysis
3.1 Market Share Analysis- Major Companies
3.2 Product Benchmarking- Major Companies
3.3 Top 5 Financials Analysis
3.4 Patent Analysis- Major Companies
3.5 Pricing Analysis (ASPs will be provided)
4. Nano Paints & Coatings Market - Startup companies Scenario Premium Premium
4.1 Major startup company analysis:
4.1.1 Investment
4.1.2 Revenue
4.1.3 Product portfolio
4.1.4 Venture Capital and Funding Scenario
5. Nano Paints & Coatings Market – Industry Market Entry Scenario Premium Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing Business Index
5.3 Successful Venture Profiles
5.4 Customer Analysis – Major companies
6. Nano Paints & Coatings Market - Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Porters Five Force Model
6.3.1 Bargaining Power of Suppliers
6.3.2 Bargaining Powers of Buyers
6.3.3 Threat of New Entrants
6.3.4 Competitive Rivalry
6.3.5 Threat of Substitutes
7. Nano Paints & Coatings Market – Strategic Analysis
7.1 Value Chain Analysis
7.2 Opportunity Analysis
7.3 Product/Market Life Cycle
7.4 Distributor Analysis – Major Companies
8. Nano Paints & Coatings Market– By Type (Market Size -$Million/Billion)
8.1 Superhydrophobic Coating
8.2 Oleophobic/Hydrophobic Coatings
8.3 Hydrophilic Coatings
8.4 Ceramic, Metal and Glass Coatings
9. Nano Paints & Coatings Market– By Resin Type (Market Size -$Million/Billion)
9.1 Graphene
9.2 Carbon Nanotubes
9.3 Carbon Fullerenes
9.4 Nano Silicon Dioxide
9.5 Nano Silver
9.6 Nano Titanium Dioxide
9.7 Nano Zinc Oxide
9.8 Nano Aluminium Oxide
9.9 Others
10. Nano Paints & Coatings Market– By Method (Market Size -$Million/Billion)
10.1 Electrospray and Electro Spinning
10.2 Chemical Vapor Deposition (CVD) Method
10.3 Physical Vapor Deposition (PVD) Method
10.4 Dip Coating Method
10.5 Thermal Spray Method
10.6 Spray Coating and Spin Coating Method
10.7 Cold Spray Method
10.8 Sol-Gel Method
10.9 Solution Dispersion
10.10 Others
11. Nano Paints & Coatings Market– By End-Use Industry (Market Size -$Million/Billion)
11.1 Automobile
11.1.1 Passenger Cars
11.1.2 Light Commercial Vehicles (LCV)
11.1.3 Heavy Commercial Vehicles (HCV)
11.2 Building and Construction
11.2.1 Residential
11.2.2 Commercial
11.2.3 Industrial
11.2.4 Infrastructural
11.3 Marine
11.3.1 Cargo
11.3.2 Passenger
11.3.3 Supply Vessels
11.3.4 Others
11.4 Aerospace
11.4.1 Commercial
11.4.2 Military
11.4.3 Others
11.5 Power Generation
11.5.1 Wind Energy
11.5.2 Photovoltaics
11.5.3 Hydro/Tidal Power
11.5.4 Others
11.6 Medical and Biomedical
11.6.1 Medical Devices
11.6.2 Dental Implants
11.6.3 Others
11.7 Others
12. Nano Paints & Coatings Market - By Geography (Market Size -$Million/Billion)
12.1 North America
12.1.1 U.S
12.1.2 Canada
12.1.3 Mexico
12.2 Europe
12.2.1 UK
12.2.2 Germany
12.2.3 France
12.2.4 Italy
12.2.5 Netherland
12.2.6 Spain
12.2.7 Russia
12.2.8 Belgium
12.2.9 Rest of Europe
12.3 Asia-Pacific
12.3.1 China
12.3.2 Japan
12.3.3 India
12.3.4 South Korea
12.3.5 Australia and New Zealand
12.3.6 Indonesia
12.3.7 Taiwan
12.3.8 Malaysia
12.3.9 Rest of APAC
12.4 South America
12.4.1 Brazil
12.4.2 Argentina
12.4.3 Colombia
12.4.4 Chile
12.4.5 Rest of South America
12.5 Rest of the World
12.5.1 Middle East
12.5.1.1 Saudi Arabia
12.5.1.2 U.A.E
12.5.1.3 Israel
12.5.1.4 Rest of the Middle East
12.5.2 Africa
12.5.2.1 South Africa
12.5.2.2 Nigeria
12.5.2.3 Rest of Africa
13. Nano Paints & Coatings Market – Entropy
13.1 New Product Launches
13.2 M&As, Collaborations, JVs and Partnerships
14. Nano Paints & Coatings Market – Market Share Analysis Premium
14.1 Market Share at Global Level - Major companies
14.2 Market Share by Key Region - Major companies
14.3 Market Share by Key Country - Major companies
14.4 Market Share by Key Application - Major companies
14.5 Market Share by Key Product Type/Product category - Major companies
15. Nano Paints & Coatings Market – Key Company List by Country Premium Premium
16. Nano Paints & Coatings Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
16.1 Company 1
16.2 Company 2
16.3 Company 3
16.4 Company 4
16.5 Company 5
16.6 Company 6
16.7 Company 7
16.8 Company 8
16.9 Company 9
16.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"