Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research Smart Surfaces Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2021, the global smart surfaces market was valued at US$0.4 bn in 2014, which is expected to reach US$20.5 bn by 2021 at a CAGR of 66.4% from 2015 to 2021.
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The surfaces which are covered with nano-sized structures are called smart surfaces. These surfaces have only one dimension on the nano scale. The smart surfaces are gaining popularity due their unique applications. The applications of the smart surfaces vary from construction, energy, medical and healthcare, transportation to security among others. Self-healing materials, self-cleaning materials and self-assembling materials are some of the material types used for manufacturing smart surfaces.
Transportation is the largest application segment for smart surfaces. Increasing demand for features such as smart windshields in the luxury car segment is one of the major factors fueling the demand for smart surfaces in the transportation sector. Moreover, demand for scratchproof and water resistant surfaces is also expected to have a positive impact on the demand for smart surfaces in electronics sector.
By materials, the self-cleaning material segment held the largest market share in smart surfaces market globally and is expected to remain the market leader throughout the forecast period. Increasing demand for surfaces which are easy to clean or do not allow dust to accumulate is one of the major factors driving the demand for self-cleaning materials globally. However, self assembling material segment is expected to be the fastest growing market during the forecast period from 2015 to 2021.
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Currently, North America is the largest market for smart surfaces globally. However, with rapid industrialization and increasing demand for smart surfaces Asia Pacific is expected to become the largest market for smart surfaces by 2021. Presence of large number of automobile manufacturers is one of the major factors driving the demand for smart surfaces in transportation sector in Asia Pacific. India. Japan and South Korea are some of the major countries driving the demand for smart surfaces in Asia Pacific.
Being a new technology, the smart surfaces market is not dominated by single player currently. 3M Company, HzO, Inc., SLIPS Technology, Nanotrons Corporation, P2i Ltd., Debiotech S.A., Clariant, The Dow Chemical Company, nanoShell Ltd. and Gentex Corporation among others are some of the major players operating in smart surfaces market.
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Source:Transparency Market Research