Nanocoatings Market: Current Status, Opportunities, and Future Prospects
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Escalating demand for nanocoatings from the healthcare sector is one of the significant factors influencing the market growth.
VANCOUVER, BRITISH COLUMBIA, CANADA, February 7, 2023 /EINPresswire.com/ -- The global nanocoatings market is expected to reach USD 22.96 Billion by 2027, according to a new report by Emergen Research. The nanocoatings market is experiencing rapid growth attributed to its increasing demand in end-user industries such as healthcare, automotive, building & construction, electronics, marine, energy, water treatment, and packaging.
The surging demand for nanocoatings in the healthcare sector is projected to drive the growth of the market in the forecast period. Antimicrobial nanocoatings are essential for indwelling catheters possessing a high risk of microbial infection. Moreover, these are deployed in surgical instruments, bone replacement materials, and prosthetic devices. Also, biofilms of yeasts and oral bacteria may result in several localized ailments in the oral cavity, such as dental caries, oral thrush, periodontal disease, tooth root & pulp disease, and dental implant dental braces infections.
Additionally, the COVID-19 pandemic is likely to boost the market demand for nanocoatings. The Department of Science and Technology (DST), India, has given its approval to apply antiviral nanocoatings masks meant to be used to prevent the spread of coronavirus. The approval has been provided for N-95 and Triple Layer Medical masks, under the Mission on Nano Science and Technology.
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Stringent regulatory norms governing the use of nanotechnology and nanomaterial may hamper the growth of the market in the upcoming years. The application of nanotechnology leads to product characteristics that vary from the products manufactured through the conventional process. Therefore, the safety evaluations/effectiveness of FDA-regulated goods that comprise or involve the usage of nanomaterial should consider the distinctive features and characteristics that may be exhibited by nanomaterial.
Key participants include Eikos Inc., Buhler Partec GmbH, Integran Technologies Inc., Bio-Gate AG, Nanofilm Ltd., Nanoveer Technologies LLC, Cima Nanotech Inc., P2i, Inframat Corporation, Nanophase Technologies Corporation, and Nanogate AG, among others.
Key Highlights from the Report
By product, antimicrobial held the largest nanocoatings markets share in 2019 and is expected to grow at a rate of 18.0% in the forecast period. Antibacterial applications of nanocoatings are garnering importance to avert the disastrous impacts of antibiotic resistance. Nanocoatings may be used as diagnostics, preventives, drug carriers, and synergetic in the antimicrobial therapies.
By distribution channel, the online distribution channel is projected to grow at a faster rate of 20.9% in the period 2020-2027, as this mode of distribution has the advantage of providing a broader exposure to the product produced by the manufacturers, especially with the proliferation of smart devices and internet connectivity.
By industry vertical, the building & construction sector is likely to grow at a rate of 18.5% in the period 2020-2027. Nanocoatings are the thin film coatings of the nanoscale range that are implemented to protect the surface of numerous construction materials, such as glass, concrete, marble, steel, and sand limestone, among others. These coatings assist in protecting them from friction reduction, heat resistance, corrosion, and environmental influences, including algae, moss, water, and oil stains.
North America dominated the nanocoatings market in 2019 and is expected to grow at a rate of 17.7% in the forecast period. The market dominance of the North American Market is owing to the growth of the healthcare industry, advancement in technology, and the presence of market players in the region.
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Emergen Research has segmented the global nanocoatings market on the basis of product type, distribution channel, industry vertical, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
Antimicrobial
Anti-Fouling & Easy-to-Clean
Self-Cleaning
Anti-Fingerprints
Others
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
Online
Offline
Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
Healthcare
Automotive
Building & Construction
Electronics
Marine
Energy
Water Treatment
Packaging
Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
U.S.
Canada
Europe
Germany
UK
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
MEA
Saudi Arabia
UAE
Rest of MEA
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