The Global Smart Coatings market is forecasted to reach USD 11.58 Billion by 2028, according to a new report by Reports and Data. Smart coatings are preferred among others owing to the development of new technologies that enhance their functionalities. Such technologies are conductive materials, nanotechnology, self-healing, and self-assembling system, and micro-encapsulation, as they give coatings capabilities beyond protection and aesthetics.

Sustainability and digitalization are expected to be two key trends to alter the dynamics of the chemicals and materials industry over the forecast period. Rising focus on sustainable manufacturing processes, packaging, and innovation in production are some key factors expected to accelerate market revenue growth over the forecast period. In addition, the incorporation of machine learning, artificial intelligence, and the advent of 3D printing or additive manufacturing is expected to further contribute to the revenue growth of the market going ahead.

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Market Dynamics

The global chemicals and materials have a wide range of application areas such as crop protection, animal nutrition, dietary supplements, preservatives, flame retardants, surface ingredients, active pharmaceutical ingredients, and matting agents among others. Population explosion along with rapid economic growth is expected to propel market growth. Moreover, the growing urbanization, rapid industrialization, and high investment in infrastructure development create market demand over the forecast period.

Advancements in R&D technology, the development of new business models, and the emergence of disruptive technologies have brought about dynamic changes in the global market over the recent past. Growing demand for personal care products, increasing demand from end-use industries, and rapid advancement in e-commerce sales channels have given rise to lucrative growth opportunities in the sector. Key companies are focusing on the current and emerging trends to capitalize on the market opportunity.

Key companies profiled in the report include:

3M, PPG Industries, AkzoNobel, Axalta Coating Systems, Hempel, Jotun, Dow Corning Corporation, Sherwin-Williams, RPM International, and NEI Corporation among others.

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Further key findings from the report suggest

Changing lifestyles is making consumers demand new types of paintings that make a product durable and also create a striking impression on the consumers.

Single-Layer holds a market share of 53% in the year 2020 with an annual growth rate of 17.9% throughout the forecast period.

The self-Cleaning sub-segment occupies the largest market share in 2020 and is forecasted to hold a market share of 20% in the year 2028 with the highest annual growth rate throughout the forecast period.

Anti-Microbial holds a market share of 16% in the year 2020 and is forecasted to have an annual growth rate of 19.1% throughout the forecast period.

Nanotechnology and nanomaterial are the concepts that are being harnessed in correlation with smart coatings to open up new opportunities for manufacturers to tap into.

By Sensing Type, the Light segment is forecasted to generate a revenue of USD 1.34 Billion in the year 2028 with an annual growth rate of 18.12% throughout the forecast period.

Automotive & Transportation holds a market share of 14% in the year 2020 and is forecasted to grow at a CAGR of 19.2% throughout the forecast period.

Marine is forecasted to generate a revenue of USD 1.14 Billion in the year 2028 with an annual growth rate of 16.9% throughout the forecast period.

North America has a market share of 25% in the year 2020 and is forecasted to have an annual growth rate of 18.8% throughout the forecast period.

The regional analysis section covers the analysis of the Smart Coatings market in the major geographies of the world including North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa with regards to production and consumption pattern, supply and demand ratio, import/export, revenue contribution, market share, and market size, and presence of key players in the region.

Detailed Regional Analysis Covers:

North America (U.S., Canada, Mexico)

Europe (U.K., Italy, Germany, France, Rest of Europe)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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For the purpose of this report, Reports and Data have segmented the global Smart Coatings market on the basis of Layers, Function, Sensing Types, End User and Region:

Layers Outlook (Revenue, USD Billion; 2020-2028)

Single-Layer

Multi-Layer

Function Outlook (Revenue, USD Billion; 2020-2028)

Anti-Microbial

Anti-Corrosion

Anti-Fouling

Anti-Icing

Self-Cleaning

Self-Healing

Sensing Type Outlook (Revenue, USD Billion; 2020-2028)

pH

Ionic Strength

Temperature

Pressure

Surface Tension

Electric or Magnetic Fields

Light

Acoustics

Mechanical Forces

End Users Outlook (Revenue, USD Billion; 2020-2028)

Automotive & Transportation

Marine

Building & Construction

Aerospace & Defense

Electronics

Medical

IT Technologies

Agriculture

Household

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