Smart Coatings Market Size is projected to reach USD 18.74 Billion by 2030, growing at a CAGR of 18.2%: Straits Research - EIN Presswire

2022-10-02 06:14:21 By : Mr. Bruce Zhao

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/EIN News/ -- New York, United States, Sept. 08, 2022 (GLOBE NEWSWIRE) -- "Smart coatings" refers to unique films that can detect and respond to environmental and other external stimuli. The widespread use of smart coatings by end-users is a result of the development of new technologies that enhance the functionality of coatings. Recent innovations, such as conductive materials, nanotechnologies, self-healing, self-assembling systems, and micro-encapsulation, have improved the protective qualities of coatings. Due to their expanding use for both protective and aesthetic purposes, smart coatings are gaining appeal. Smart coatings are more expensive than functional coatings, but their improved protection has increased demand.

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Growing Demand in End-User Industries Drives the Global Market

Smart coatings are utilized in the automotive, marine, construction, agriculture, aerospace and defense, information technology, and healthcare industries. There is a substantial growth in the demand for smart coatings in the healthcare industry due to the growing awareness of safety and cleanliness and government attempts to avoid HAIs (Healthcare Associated Infections). It occurs across all care settings, including acute care hospitals, dialysis facilities, outpatient care, ambulatory surgery centers, and long-term care facilities (including rehabilitation centers and nursing homes). Each year, around 2 million people are affected by HAIs, and 90,000 people die worldwide. Due to their properties, smart antimicrobial coatings are frequently utilized in the healthcare industry. 

Smart coatings are also widely used in the automotive industry, which is a significant contributor to the GDP of any country. The need for smart coatings is growing in the automobile industry due to their ability to protect vehicles from acid rain, extreme weather, and UV radiation. In the automobile sector, coatings are applied to car exteriors. The galvanized steel used for vehicle bodies requires protective coatings to prevent corrosion and scratches. The rise of the automotive industry is anticipated to boost the smart coatings market.

Corrosion Indication and Prevention Creates Tremendous Opportunities

Corrosion is a significant issue in the automotive, construction, maritime, agricultural, and military industries. It can cause catastrophic pipe and tubing failures. Manufacturers of coatings have devised methods for detecting and preventing corrosion. Consequently, electrochemically sensitive materials can be employed to detect and control corrosion. Using microcapsules, the NASA Kennedy Space Center has created a controlled-release device for monitoring corrosion. Smart coatings containing encapsulated inhibitors will decrease reformulation time. A pH-sensitive microcapsule is essential to the design of intelligent coatings. In addition to epoxies, acrylics, urethanes, and powder coatings, epoxies, acrylics, and urethanes can also be utilized as additives in liquid and powder coating applications. A smart coatings system based on pH-sensitive microcapsules is used for corrosion detection, inhibition, and self-healing. In an emulsion, an interfacial polymerization reaction produces a variety of pH-sensitive microcapsules containing different solvents. These characteristics of smart coatings drive market expansion.

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Asia-Pacific is the most significant global smart coatings market shareholder and is expected to grow at a CAGR of 18.8% over the forecast period. Investments from outside the region fuel the expansion of the smart coatings market in the Asia-Pacific region. In addition, rising per capita income and living standards will contribute to the region's smart coatings market. Consequently, a developing automotive industry contributes to expanding the market for smart coatings in the Asia-Pacific region. Intelligent anti-corrosion coatings are widely employed in the automotive sector for corrosion and weather resistance. The region is also experiencing expansion in the construction and consumer electronics industries.

Europe is expected to grow at a CAGR of 20.1%, generating USD 4865 million during the forecast period. The construction, automotive, and aerospace industries will significantly impact the regional smart coatings industry. The construction industry in Europe employs over 20 million people and accounts for around 9 percent of the European gross domestic product. Therefore, expanding the construction industry is anticipated to increase demand for intelligent coatings. As a leader in eco-innovation and sustainable construction, it is expected that infrastructure development in Denmark will increase during the projected period. The country's sound macroeconomic climate also encourages investment opportunities. The aerospace sector will also contribute to the rise of smart coatings in the United States. The European aerospace industry is one of the most advanced in the world, producing high-quality jets, helicopters, aero engines, civil aircraft, and unmanned aerial vehicles using precise hand tools.

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The global smart coatings market’s major key players are

Global Smart Coatings Market: Segmentation

Table of Content and Figure @ https://straitsresearch.com/report/smart-coatings-market/toc

Automobile Industry to Hold Considerable Share in the Smart Coatings Market

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