Nanocoatings Market to Expand at 24.7% CAGR from 2012 to 2019 : Transparency Market Research

Albany, NY, Dec. 3, 2014 (GLOBE NEWSWIRE) -- Transparency Market Research (TMR), a U.S.-based research firm in its latest research report titled "Nanocoatings Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019", sheds light on the Global Nanocoatings Market. The report states that the nanocoatings market will reach a value of US$6.75 billion by end of 2019 during the forecast period of 2013 to 2019.

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The global nanocoatings market demand was valued at US$1.45 billion and with a healthy 24.7% CAGR during the forecast period, the market will grow more than three times its worth in 2012. Stringent regulations from government bodies such as EPA and other regulatory organizations on the use of VOCs tend to contribute to the growth of the nanocoatings markets, since nanocoatings are more environment-friendly due to their low VOCs content.

According to geography, the market of nanocoatings is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America dominated the nanocoatings market in 2012, which was followed by Europe that can be attributed to the growth of healthcare industry. However, analysts at TMR predict that Asia Pacific is expected to witness the highest growth during the forecast period due to the expanding electronics and automotive industries in China and India. The demand for nanocoatings in the Asia-Pacific region will demonstrate a 25.8% CAGR during 2013-2019.

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Massive demand from automotive and medical coatings companies will drive the growth of the nanocoatings market. In addition, urbanization of BRIC countries has been driving the global nanocoatings industry from the past few years. Product-wise the global nanocoatings market is segmented into anti-microbial, anti-fingerprint, easy-to-clean and anti-fouling, self-cleaning (photocatalytic and bionic), and others. Anti-microbial nanocoatings segment accounted for around 29.6% of the global demand in the nanocoatings market in 2012.

Anti-fouling and easy-to-clean nanocoatings segment grabbed the second spot in the market in terms of consumption, and is expected to grow within the forecast period due to their increasing demand in industrial engineering, food manufacturing, marine, energy, automotive, and other sectors. On the other hand, anti-fingerprint nanocoatings segment is forecasted to be the fastest growing segment during 2013-2019 due to their increasing demand from industries such as medical, electronics, and healthcare.

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The medical industry will continue to be a high growth area for nanoscale coatings in the coming few years as a large number of companies exploit the nanocoatings technology, especially in the anti-microbial domain. In 2012, the demand for nanocoatings was highest from medical and healthcare industry, accounting to around 14% of the global demand. Energy and electronics end-user segments are demonstrating fastest growth rate and promise good growth in the coming years. The global nanocoatings market will further benefit from automotive, building and construction, textile, food, and packaging industry.

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The global nanocoatings companies such as Buhler PARTEC GmbH, Nanofilm Ltd., Nanogate AG, P2i Ltd., Nanophase Technologies Corporation, and Bio-Gate AG contribute to 10% market share each.

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Source:Transparency Market Research