North America Nanocoatings market revenue growth is due to an increase in construction activities requiring aesthetic appearance and durability of the buildings.
North America Nanocoatings Market Size – USD 7.25 Billion in 2020, Growth – at a CAGR of 18.3%, Trends – High demand from Asia Pacific
The North America Nanocoatings Market size is expected to reach USD 27.97 Billion in 2028 and register a revenue CAGR of 18.3% over the forecast period, according to the latest report by Reports and Data. Surge in demand for North America Nanocoatings from the healthcare sector globally is a key factor driving steady market revenue growth.
North America Nanocoatings are used for the protection of electronic devices such as solar panels from dust and dirt, smartphones from water, as well as to prevent degradation of devices in harsh conditions. North America Nanocoatings offer resistance from fluctuations in varying temperatures, which make them popular in products that are susceptible to adverse impacts in harsh climatic and temperature change conditions. However, high cost associated with these products is expected to negatively impact revenue growth of the market to a certain extent over the forecast period.
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Top Companies: Eikos Inc., Buhler PARTEC GmbH, Integran Technologies Inc., Bio-Gate AG, Nanofilm Ltd., Nanoveer Technologies LLC, Cima NanoTech Inc., P2i, Inframat Corporation, and Nanophase Technologies Corporation.
Further Key Finding from the Report Suggestion:
- In March 2020, P2i, which is a leading market player, announced the signing of an agreement with Samsung intended to deploy Barrier nanocoating technology across numerous smartphone designs, enhancing liquid and water protection to the internal components of specific Samsung Galaxy smartphones. P2i's Barrier is a next-generation waterproofing technology, which provides higher levels of liquid protection and allows producers to protect the components, despite water leakage into the device.
- Antimicrobial North America Nanocoatings are deployed in bone replacement materials, surgical instruments, and prosthetic devices. Antimicrobial North America Nanocoatings are essential for indwelling catheters, as the device possesses high risk of microbial infection. Biofilms of yeasts and oral bacteria may result in various localized ailments in the oral cavity, such as dental caries, oral thrush, periodontal disease, tooth root pulp disease, and dental implant dental braces infections, thus making antimicrobial North America Nanocoatings essential in medical devices.
- Demand for North America Nanocoatings in electronics devices is high as thousands of electronic devices are used in challenging and diverse environments. These devices require protection against sweat, rain, pollution, submersion, and other potential threats. Demand for protective North America Nanocoatings is expected to increase significantly to safeguard components and solutions. Along with smartphones and laptops, smart home security products also require protection from corrosion, moisture, chemicals, and pollution.
- Market revenue from Asia Pacific is expected to register a significantly rapid growth rate during the forecast period due to high demand from Japan, India, China, and South Korea. Large geriatric population in China has created major demand for medical devices. Steady shift to solar panels and power in India to reduce dependency on fossil fuels is also supporting demand for coatings is related applications. Solar devices are coated with North America Nanocoatings to enhance lifespan and reduce degradation rate.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global North America Nanocoatings market is segmented into:
Product Type Outlook (Revenue, USD Billion; 2018–2028)
- Anti-Fouling Easy-to-Clean
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Building Construction
Distribution Channel Outlook (Revenue, USD Billion; 2018–2028)
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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