SAN FRANCISCO, May 14, 2018
SAN FRANCISCO, May 14, 2018 /PRNewswire/ --
The global smart coating market is expected to reach USD 11.68 billion by 2024, according to a new report by Grand View Research, Inc. The rapidly increasing product demand from key end-use industries, namely, construction, automotive aerospace, military, and healthcare, is expected to drive the market growth over the forecast period.
Advanced properties such as self-healing, self-cleaning and corrosion resistance exhibited by the materials has led to an increase in demand from the automotive and aerospace industry, mainly for exterior applications. In addition, advanced coatings applied in aircrafts have the ability to indicate damage on an aero engine.
Growing use of the product in military applications owing to rising demand for customizations, including smart self-repair, artificial intelligence, and sensing capabilities is expected to propel growth. The concerns of bio-fouling, microbial attacks, and so on are addressed by the compound in the marine end-use sector. Furthermore, the product helps mitigate maintenance challenges in the aerospace industry, which is a key driver promoting product demand.
The market is expected to witness highest growth in multi-layer products owing to the increasing applications of multi-layered coatings for surface protection in various end-use sectors is expected benefit overall industry growth. Industry participants such as BASF SE, The Dow Chemical Company, PPG Industries and A&K coating among others engage in extensive research & development for the manufacture of multi-functional coatings
Browse full research report with TOC on "Smart Coating Market Size, Share & Trends Analysis Report By Product (Single-layer, Multi-layer), By Application (Automotive, Aerospace, Construction, Military, Healthcare), And Segment Forecasts, 2018 - 2024" at: https://www.grandviewresearch.com/industry-analysis/smart-coating-market
Further Key Findings From the Report Suggest:
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Grand View Research has segmented the global smart coating market on the basis of product, application, and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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