Nano Paints and Coatings Market analysis is provided for global market including development trends by regions, competitive analysis of Nano Paints and Coatings market.
We provide latest and updated Market report which are helpful to Investors and someone who wants to invest in Industry. Nano Paints and Coatings Market report provides detailed analysis and competitive analysis by region and other main information like a manufacturing process, raw material, and equipment suppliers, various manufacturing associated costs, historical & futuristic cost, revenue, demand and supply data, the actual process. Nano Paints and Coatings Market report offers a detailed analysis of the industry, with market size forecasts covering the next four years.
Market Segment by Manufacturers, this report covers
AkzoNobel, Guard NanoTech Coatings Ltd, Nanovere Technologies, LLC, Naisol, I-CanNano, Pearl Nano Coatings, Yung Chi Paint & Varnish Mfg. Co., Ltd., NanoShine Ltd, Sherwin-Williams
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Nano Paints and Coatings Market Segment by Regions, regional analysis covers
The global nano paints and coatings market is expected to witness a healthy CAGR during the forecast period, 2018-2023. One of the major factors driving the growth of the market is the increasing demand from the aerospace industry. Asia-Pacific is expected to exhibit the fastest growth rate during the forecast period.
Aerospace Industry as a Potential Segment
Nanocoatings are characterized by high durability, water repellent nature, UV resistance, thermal insulation, elastomeric, anti-sticking nature, and low VOC emissions; thus, they offer the highest quality finish for a wide variety of interior and exterior surfaces aircraft frames, turbine blades, interior parts, and engine parts. Nanocoatings are highly useful in the reduction of drag, which in turn, aids in saving fuel. These coatings are highly helpful for segments involving high manufacturing costs, such as military aviation. Owing to the increasing middle class incomes in emerging countries, there is a surge in the demand for air travel in the recent times, and this demand is expected to grow further in the coming years. Subsequently, the global aircraft fleet is also projected to grow at a significant rate, with over 41,000 aircraft deliveries expected to happen by the year 2036. Boeing estimates the total aircraft fleet to grow at a rate of 3.5% by the year 2036 with an estimated air traffic growth of 4.7%. Similarly, the increasing industrial production and global trade have driven the air cargo services around the world, which, in turn, is boosting the demand for the production of new commercial aircraft. These factors are expected to provide ample opportunities for growth in the consumption of the nano paints and coatings used in the aerospace industry.
High Raw Material Costs creating Roadblocks
Presently, the cost of the available nanomaterials for coatings is often exorbitant, which increases the product costs disproportionately compared to improvements in performance. This is primarily due to complex methods of synthesis and low volume production. The paints and coatings segment is considered to be a âhigh volume low costâ sector, and is increasingly commercialized. However, nano paints have been facing major drawbacks due to simpler low-cost production methods and dispersion techniques involved in the manufacture of other cheaper paint alternatives. Also, the reducing petrochemical prices have further reduced prices for conventional paints and coatings. Contrary to this, the overall energy consumption of the production of nanomaterials has remained significantly high. This trend shows that nanomaterial processing requires ~50% of the total industrial energy, which is impeding the growth of the nanomaterials market. Thus, even if paint manufacturers rely on vendors for nanomaterial supply, this would add to raw material costs significantly, increasing pressure on profit margins in the end. Other additional costs are inherent in the supply chain and higher vendor dependence of the product. Collaboration with vendors might be a solution to this problem; however, it is constrained by their limited knowledge in application and system specificity of the product. This will potentially hinder the popularity of the product down the value chain.
Asia-Pacific to witness the Fastest Growth
The market of nano paints and coatings has been increasing at a faster pace in Asia-Pacific compared to other regions. The growth in technology and increase in investments in R&D in the region (along with government support) have driven the market for nano paints and coatings with increasing usage in various applications. The nano paints and coatings market in China is increasing at fast pace, followed by India and South Korea. Japan has the largest market for nanomaterials as it is the technological hub with maximum consumption in the electrical & electronics market. Hence, it has a good hold on the nano paints and coatings market in Asia-Pacific. China has increased its investment budget in the recent years for nanotechnology, with more research papers being published along with increasing initiatives being taken by many companies in the segment. However, the regulations in Asia-Pacific are at a nascent phase, and are developing gradually, which might have an effect on the nano paints and coatings market in the region in the coming years.
Key Developments in the Market
â¢ June 2017: Acquisition of The Valspar Corporation by Sherwin-Williams.
â¢ February 2017: Announcement by NEI Corporation on the allowance of two patent applications which are durable highly hydrophobic coating and an adhesion promoting surface treatment.
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Major Players: Akzonobel, Sherwin-Williams, Yung Chi Paint & Varnish Mfg. Co., Ltd., Nanovere Technologies, LLC and Guard Nanotech Coatings Ltd. amongst others
Reason to purchase this Report
â¢ Analyzing various perspectives of the market with the help of Porterâs five forces analysis
â¢ Which application is expected to dominate the market
â¢ Which regions are expected to witness fastest growth during the forecast period
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