Market Trends of Nano Paints & Coatings Industry
This section covers the major market trends shaping the Nano Paints & Coatings Market according to our research experts:
Graphene to Dominate the Market
- Graphene nanoplatelets, due to their excellent properties, such as high thermal and electrical conductivity, stability, increased stiffness and strength, and surface hardness, are used in a wide range of applications. Moreover, it is flame retardant and also reduces the component mass and improves the appearance of the surface.
- The higher efficiency of graphene has supported its growing usage by replacing carbon fiber, nano-clays, carbon nanotubes, and other composite materials in various applications.
- These properties have increased the usage of graphene nanoplatelets in polymeric materials, including thermoset and thermoplastic materials & elastomers, natural & synthetic rubbers, and paints & coatings.
- Graphene enables a wide range of functional paints, for many potential applications. These applications include high-performance adhesives enabled by graphene's high adhesion property, solar paints, anti-bacterial coatings, anti-fog paints, anti-rust coatings, and UV ray blockers, among others.
- The usage of these nanoplatelets has increased in various applications, due to the cost effectiveness and better physical and mechanical properties.
- The market for graphene nanoplatelets is expected to grow at a very high rate, due to the increased demand in a wide range of applications, such as aerospace, electronics, transportation, paints and coatings, sports equipment and biomedical & healthcare, among others.
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China to Dominate the Asia-Pacific Region
- The Chinese manufacturing industry is currently the largest in the world. The manufacturing industry in the country was supported by low labor and material costs, during its initial growing phase, and is being supported by better infrastructure and favorable policies in the recent times.
- The growth in technology and increase in investments in R&D with government support has driven the market for nano paints & coatings, with increasing usage in various applications. China has increased its investment budget in recent years for nanotechnology, with more research papers published.
- China’s domestic air passenger market experienced the biggest incremental rise in terms of number of journeys made by passengers in previous year.
- The increase in the numbers of passengers encourages the government to invest more, in green signaling additional flights, which, in turn, may help to increase the usage of nano paints & coatings.
- The Chinese automotive manufacturing industry is the largest in the world. The automotive industry is growing rapidly, with the increasing automobile production and sales.
- Overall, the growing demand from various end-user industries is likely to increase the consumption of nano paints & coatings in the country during the forecast period.
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