Asia Pacific Increasing Dominance in Self-Cleaning Coating
Bangalore, India: With its recently published study “Self-Cleaning Coating Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023”, Infoholic Research predicts that the global market for self-cleaning coating will continue climbing upward owing to the increased exposure of different end-user areas, such as construction and automotive, in the global economy. The self-cleaning coating is a type of nanocoating., It is completely transparent and makes surfaces dry, clean, and stain resistant. It has photocatalytic nanocrystals that make fabrics and materials self-sterilizing by reacting to a light source.
Self-cleaning coating has several applications other than just cleaning. It has an excellent sealant property and has been used as an additive in the paint industry to prevent corrosion and protect the solution., In the textile industry, self-cleaning coating makes fabric waterproof and renders the material germfree thanks to its germicidal property. It has also found its way to the electronics industry as it has the ability to make electronic devices waterproof. The industry trend to make use of this coating is expected to continue during the forecast period 2017–2023. The self-cleaning coating market is estimated to grow at a CAGR 25.5%, and its market value is expected to stand at $5.34 billion by 2023.
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Construction and automotive are major sectors that will have a positive impact on the growth of the self-cleaning coating market. The rise in economies and the increasing per capita income among consumers in the developing countries are increasing the demand for automobiles. This, in turn, is increasing the demand for self-cleaning coating in these regions. with the need for this coating will continue to grow in the construction sector as well and will lead the market during the forecast period. In emerging economies, such as China, India, and Brazil, industrial and infrastructural markets are rapidly growing. This growth is expected to give momentum to the self-cleaning coating’s market Worldwide.
Regionally, North America dominates the global self-cleaning coating market. The biggest contribution comes from the US market. The developed economies are filling up the close gap among each other, but presently, the North American market shows higher growth than Europe. The increasing market penetration in developing countries is also expected to push the global market potential giving boost to market revenue growth.
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“Self-cleaning coating has come long way from being considered as premium product to becoming an essential feature in several industries. It has become a critical addition in regulatory compliance in some geographies. The environmental advantages along with its increasing affordability will give an impetus to the market. The market that was once dominated by developed countries only is now finding a strong foothold in developing countries like China wherein the domestic market is quite robust and offers high potential for growth. The market is still quite nascent and is expected to see rapid growth in the next five to six years.” – Khushboo Pandey, Research Analyst, Infoholic Research
The key insights of the report are as follows:
- Global self-cleaning market has been analyzed based on the following:
- The study constitutes a classification based on the end-user areas:
- Textile & Apparel
- The study covers these geographies:
- Asia Pacific
- North America
- Rest of the World
- Industry outlook: Market trends, drivers, restraints, and opportunities