Nanocoatings Market Gains from Rising Demand from Automobiles and Medical Device

ALBANY, N.Y. - June 7, 2016 - PRLog -- A research report on the global nanocoatings market published by Transparency Market Research (TMR) estimates the market to register an exponential CAGR of 24.70% during the period from 2013 and 2019. Analysts project it to report a rise from a value of US$1.4 bn in 2012 to US$6.7 bn by the end of the forecast period.The research report is titled "Nanocoatings Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019."

Nanocoatings are denser forms of traditional coatings. In this type of coating, raw materials are shrunk at their molecular levels to obtain a compressed composition. Nanocoatings are eco-friendly in nature, owing to which, their popularity is increasing significantly across the world. The growing application of nanocoatings in automobiles and various types of medical devices is driving the growth of this market considerably in the global arena, reports the study.

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This research study has been prepared by analyzing the global market for nanocoatings on the basis of product and application. Based on product, the report has classified the market into anti-microbial nanocoatings, anti-fingerprint nanocoatings, self-cleaning nanocoatings, and other nanocoatings such as specialty coatings.

The anti-microbial nanocoatings segment accounted for the largest share of 29.6% in the overall demand for nanocoatings in 2012. The segment reported the highest application in the medical and healthcare, water treatment, and food production industries. Over the forecast period, the anti-fingerprint nanocoatings segment is likely to emerge as the fastest growing segment owing to the increased demand from the packaging, automotive, electronics, and healthcare industries, states the report.

Regionally, the worldwide market for nanocoatings has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2012, North America emerged as the market leader, accounting for a share of more than 40% and was closely followed by Europe. The significant rise in the medical and healthcare industry in North America has driven the regional market's growth remarkably over the past few years. Analysts expect the trend to continue during the forecast period.

Asia Pacific, on the other hand, is likely to record the fastest growth in the forthcoming years owing to the increasing demand for nanocoatings from the electronics and automotive industries in this region. The regional market is estimated to report a CAGR of 25.80% over the forecast period, notes the research study.

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The report also studies the competitive landscape prevalent in the global market for nanocoatings by analyzing the profiles of the major market players. According to it, the market exhibits a fragmented nature, where top six companies, namely Buhler PARTEC GmbH, P2i Ltd., Nanogate AG, Nanofilm Ltd., Nanophase Technologies Corp., and Bio-Gate AG held a share of approximately 10% each in 2012.

Other prominent manufacturers of nanocoatings mentioned in this research study are Nanovere Technologies LLC, Integran Technologies Inc., Inframat Corp., Eikos Inc., and Cima NanoTech Inc.