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Energy

Smart Coatings Market Outlook By Industry Size, Share, Revenue, Regions

The market for smart coatings is expected to grow at a CAGR of more than 5.8% during the forecast period. The major factors driving the market studied is increasing construction activities.

– On the flip side, the high cost of smart coatings is likely to hinder the market.
– Asia-Pacific dominated the market across the globe with the largest consumption in a country such as India, China, etc.

Key Market Trends

Increasing Demand from Building and Construction Industry

– Smart coatings are used in the construction industry due to properties such as sense and respond to the environmental situation such as temperature, pressure, light, etc. and react with a suitable response.

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– The Asia-Pacific region has become an attractive market for the investors, owing to the presence of a number of emerging economies, such as India, China, Indonesia, Vietnam, and others in the region. Owing to strong economic growth, domestic companies have been expanding their business. Along with this, foreign companies have been entering these markets to take advantage of the prevailing opportunities. This has created demand for commercial construction, such as offices, production houses, buildings, warehouses, etc., leading to an increase in the construction activities in these countries.
– In India, the demand for offices and residential spaces has been driving the growth of the construction sector. “The Smart City Project” is one of the noticeable examples, under which, 100 smart cities are planned to be developed across the country.
– In Japan, housing construction, along with increasing governmental spending on developmental projects, has been driving the construction sector in the country. The 2020 Olympics has also been boosting the new commercial construction in the country.
– Hence, such robust growth in construction activities is fuelling the demand for the market.

China to Dominate the Asia-Pacific Region

– China is the largest manufacturer of automobiles in the world. The country’s automotive sector has been shaping up for product evolution, with the country focusing on manufacturing products, to ensure fuel economy and to minimize emissions (owing to growing environmental concerns due to mounting pollution in the country).
– However, the market witnessed a shrink in 2018, as the production decreased by 4.2%. It was also the first time that the market witnessed a drop in sales after nearly 20 years of growth. The lack of domestic demand and an increase in labor prices has led to a decrease in production. Moreover, the trade war between China and the United States has also affected exports from China.
– However, the production is expected to reach 30 million units by 2020, owing to the ‘Made in China 2025’ initiative support in upgrading the existing low-cost mass production to higher value-added advanced manufacturing. ‘Automobile Mid and Long-Term Development Plan’ was released in April 2017, with an objective to make China a strong auto power in the next ten years.
– Furthermore, building and construction is another key end-user industry for the market in the country. C
– hina has massive construction plans underway, including making provision for the movement of 250 million people to its megacities in the next ten years, despite efforts to rebalance its economy to a more service-oriented base.
– For instance, in April 2019, the government of China invested around USD 72 billion for construction in the country.
– All the aforementioned factors are likely to augment the market over the forecast period.

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The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

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Smart Coatings Market Growth, Industry, Analysis, Development and Demand Forecast 2020-2027

In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Smart Coatings Market Report

The global smart coatings market by revenue is expected to grow at a CAGR of over 18% during 2020–2026.

APAC expects to witness the highest incremental growth of over 178% during 2020–2026. The availability of inexpensive labor and the easy accessibility of raw materials have shifted the attention of global automotive manufacturers toward the region, which indirectly influence the smart coatings market share. Marine, consumer electronics, and automotive industries are driving the demand from China. China accounts for approximately 90% of shipbuilding activities globally; hence the demand for anti-fouling and anti-corrosive coatings is expected to be reasonably high. Owing to rapid industrialization and foreign investments, China expects to be the significant growth driver in the region. However, the APAC infrastructure sector, which has been affected by the outbreak of the COVID-19 pandemic, has witnessed unprecedented disruptions, leading to the decline in the development of major infrastructure and construction activities. Owing to the pandemic, the government has mandated lockdowns that have further slowed down the development of infrastructure and construction projects. However, construction and infrastructure activities are likely to increase in India and China from mid-2021, thereby offering an impetus to the smart coating market.

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“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”

The study considers the global smart coating market‘s present scenario and its market dynamics for the period 2020−2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

Global Smart Coatings Market Segmentation

The global smart coatings market research report includes a detailed segmentation by layer, function type, end-user, geography. The global single-layer smart coatings market expects to reach over USD 5 billion by 2026, growing at a CAGR of over 16% during the forecast period. These are widely used in the automotive and aerospace industries. Single-layer anti-reflective coatings are one of the key factors for developing the efficiency of solar cells. Hence, the increasing application of solar cells for the production of electric current is likely to increase the usage of single-layer technology.

Self-cleaning and antimicrobial sectors are likely to grow at CAGRs of over 19% during 2020–2026. Several industries widely adopt smart self-cleaning coatings to improve the usability and functionality of materials. These are applied on solar panels, glass windows, stain-resistant textiles, corrosion prevention, and anti-biofouling surfaces to ease the cleaning process. Self-cleaning surfaces are extremely water repellent, which increases the lifespan of several metals. Advances in nanotechnology have led to the development of high resilient surfaces, which are resistant to wear and tear and can be used in a wide range of applications. Antimicrobial coatings prevent the growth of pathogens, bacteria, and microbes. A rising number of hospital-acquired infections (HAI) and the outbreak of the COVID-19 pandemic have increased the demand for antimicrobial in several end-user industries such as healthcare institutions, industrial buildings, and the packaging industry. Advanced research and innovations are likely to develop safe, effective, and innovative smart antimicrobial products. The demand for antimicrobial medical coatings is growing from North America and Europe due to growth in HAIs.

The APAC region accounted for the largest market for smart coatings, contributing over 46% to the global market. China, India, and Japan are the major contributors to the market in the region. China accounted for over 27% by value, followed by India and Japan with a revenue share of over 20% and 12%, respectively. The increase in construction, marine, and defense industries investment is a major factor for the high demand for smart coatings in China. The increasing need for energy and maintenance of transportation also fuel the growth of smart coatings in the country. Strong economic growth, coupled with growing construction activities and increasing disposable income, has primarily supported market growth in the region. APAC is also the largest construction industry and will continue to dominate the industry during the forecast period. However, the growth in construction activities declined in H1 2020, mainly due to the slowdown of construction in China and other key Asian countries, which was further worsened due to the COVID-19 outbreak. Rapid urbanization and infrastructure development have resulted in the rise of megacities in the region’s fast-growing economies.

Request to Fill The Form To get Sample Copy of This Report: https://www.sdki.jp/sample-request-114843

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”

KEY QUESTIONS ANSWERED:

1. How big is the smart coatings market?
2. What growth rate the smart coating market is likely to grow during the forecast period?
3. Who are the key players in the smart coatings market?
4. Which region witnessed the largest share in the smart coatings market in 2020?
5. What are the key factors driving the smart coatings market?
6. Which layer type is projected to grow at the highest rate?

Table of Content

1 Research Methodology
2 Research Objectives
3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of The Study
4.3.1 Market Segmentation by Layer
4.3.2 Market Segmentation by Function
4.3.3 Market Segmentation by End-user
4.3.4 Market Segmentation by Geography

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance
7 Introduction
7.1 Overview
7.1.1 End-user Industries
7.1.2 Smart Coatings by Layer
7.1.3 Smart Coatings by Function
7.1.4 Smart Coatings by Geography
7.1.5 Supply Chain Analysis
7.1.6 Raw Material Analysis

8 Growth Opportunity By Segment
8.1 By Layer
8.2 By Function
8.3 By End-User
8.4 By Region

9 Impact Of COVID-19
10 Frequently Asked Questions
10.1 What Are The Key Factors Driving The Market For Smart Coatings?
10.2 At What Rate Is The Smart Coatings Market Expected To Grow?
10.3 Which Region Accounts For The Largest Share In The Global Smart Coatings Market?
10.4 Which Type Of Coating Witnesses The Highest Demand?
10.5 What Are The Major Factors Hindering The Adoption Of Smart Coatings?
10.6 Who Are The Major Players In The Market?

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

For more information, please contact:

Shibuya Data Count
Email: [email protected]
Tel: + 81 3 45720790

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