Longevity and Operational Efficiency of Consumer Electronics to Provide Thrust to Global Smart Coating Market

Smart coatings are the futuristic coating. The smart functional coatings market is expected to leap from a niche market due to the increasing demand of customers for improved products. Some functional smart coatings that are evolving are antimicrobial, wear-resistant, easy-to-clean, scratch, and anti-fouling coatings. Regardless of their new developmental status, smart coatings have a broad range of applications. 

Smart coatings have the capability to sense a change in the external environmental and respond to that change in a predictable and notable manner. Smart coatings integrate functionality with design to provide a system that offers multidimensional and multifunctional effects simultaneously.

Analysts at Transparency Market Research provide insights into the growth of the global smart coating market for the 2016-2024 period:

Q. What are the key factors propelling the growth of the smart coating market?

A. In recent years, the expeditiously rising consumer electronics industry is leading to an increased demand for smart coatings. For smartphones and other handheld electronics, self-cleaning coatings and self-healing coatings are of paramount importance. Extensive efforts for the research and development of smart coatings has led to the development of newer smart coating products.

The unique characteristics of smart coating is leading to its gaining popularity in military, aerospace, hospital, and automobiles industry. Multilayer coatings are considered as the easiest way to develop multifunctional coatings. Moreover, novel materials such as metamaterials are increasingly being used for the development of innovative smart coatings. These factors collectively are favoring the growth of the global smart coating market.

Q. What are the factors deterring the ascension of the smart coating market?

A. Smart coating market is a relatively new area in the global coating market space. High cost and environmental implications of smart coating are the foremost factors that are negatively impacting the growth of the smart coating market. Presently, the green quotient of materials is very important along with quality, consistency, and superiority. The cost factor of bio-based materials is advantageous to the bargaining power of leading suppliers and is restricting the entry of new players in the smart coating market.

Q. How are the regional markets for smart coating expected to fare in the coming years?

A. The North America smart coatings market is expected to ride on technological advancements in the development of nanomaterials. The incessantly increasing demand for environment-friendly products will also boost the growth of the smart coatings market in this region.

Asia Pacific will emerge as a significant market for smart coatings. This is mainly due to the rapid rate of infrastructural development, growth in the construction sector, and an ever-increasing demand for consumer electronics in the region. Some of the upcoming events such as the FIFA world cup in Qatar in 2022 and world expo trade convention in Dubai in 2020 will proliferate the growth of the smart coatings market in Asia Pacific.


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