Global Smart Coatings Market: Key Highlights
Global Smart Coatings Market: Key Market Dynamics
Global Smart Coatings Market: Regional Overview
North America is expected to be the dominating region in the smart coatings market, owing to the presence of a large industrial base. The US aerospace industry is the largest across the globe and contributed to around USD 374 billion of the country’s GDP in 2018. Moreover, the rising demand for wireless electronics such as smartphones, tablets, and others is projected to fuel the demand for smart coatings.
Asia-Pacific emerged as the fastest-growing region for this market, mainly driven by the expanding automotive industry. According to the International Organization of Motor Vehicle Manufacturers, India, Indonesia, Thailand, and Malaysia witnessed a positive percentage growth in the automotive industry of 8%, 10.3%, 9%, and 12.2%, respectively.
Government initiatives such as Net Zero Imports and Make in India are expected to result in rapid industrial development, which in turn, will drive the demand for smart coatings.
Global Smart Coatings Market: Key Players Overview
DSM is a global purpose-led, science-based company specializing in Nutrition, Health & Sustainable Living. The company offers business solutions for human nutrition, animal nutrition, personal care and aroma, medical devices, green products and applications, and new mobility and connectivity. In April 2019, DSM launched a new, bio-based self-matting resin, Decovery SP-2022 XP, that will take ultra-matt flooring finishes to new levels in terms of aesthetic and functional performance, ease of application and sustainability.
NEI Corporation develops, manufactures, and sells advanced materials for a broad range of industrial customers around the world. In March 2018, the company introduced UV-Protect (UVP) technology to formulate enhanced versions of its popular NANOMYTE coating products having tailored functionalities such as hydrophobicity, self-healing, fog resistance, self-cleaning (or easy-to-clean), scratch resistance, anti-corrosion, and anti-icing.
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