In order to steal a march over their competitors, success-hungry players in the global smart coatings market are resorting to product development to cater to the different requirements of their customers. This has led to the emergence of eco-friendly, anti-corrosion coating platform, which is also cost effective and lightweight. Many other products with unique features are being developed in the market.
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Depending upon the types of products, the global smart coatings market can be divided into self-cleaning, self-healing, anti-microbial, anti-corrosion, self-dimming, etc. Of them, the segment of anti-corrosion coatings dominates the market owing to their considerable demand from North America, Europe, and Asia Pacific. They find applications in end-use industries such as automotive, electronics, and military, among others.
Smart coatings are enjoying a solid demand because of their ability to accord protection to the surface on which they are applied from any sort of damage resulting from microbial attack, corrosion, dust, oil, moisture, etc. “In aerospace, smart coating can indicate damage on an aero engine or oil and gas platform or even in a composite being used to save weight on an aircraft. It can also find application as a barrier coating for a packaging film and also be transparent and moisture ingress. Because of such unique characteristics, such coatings are seeing widespread application in military, aerospace, healthcare, and automobile segments. Even consumers are willing to pay premium prices for such smart coated products,” explains the lead analyst of the TMR report.
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Smart coating material, on the flipside, increase the weight of the final products. This, until a while back was posing a roadblock to their uptake in segments such as consumer electronics, apparels, etc. Besides, their environmental impact was also dealing a blow to the demand. However, savvy players have already come up with lightweight, eco-friendly products, which is helping to tackle such problems.
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