Global Nanocoatings Market Expected to Reach $39 Billion by 2028, Fueling Research and Development Activities
The global nanocoatings market is experiencing steady growth and is expected to continue expanding throughout the decade, according to a recent report. Nanocoatings, which are ultra-thin layers of chemicals or materials applied to various surfaces, provide protection against dirt, corrosion, and other environmental factors. The increasing demand from the construction sector, as well as the focus on sustainability and energy conservation, are driving market growth. The automotive industry’s adoption of abrasion-resistant products is also contributing to the market’s expansion.
A report from Fortune Business Insights projects that the global nanocoatings market, valued at $7,825.3 million in 2020, is projected to reach $39,869.2 million by 2028, with a compound annual growth rate (CAGR) of 22.7% during the forecast period. The application of nanocoatings in green buildings, emphasizing energy conservation and corrosion resistance, is expected to contribute to market growth. These coatings, which work at the molecular level, offer better insulation compared to traditional materials like fiberglass and polystyrene.
FendX Technologies Inc., a nanotechnology company focused on surface protection coatings, has successfully completed a pilot manufacturing run on Dunmore International Corp.’s commercial manufacturing line. This achievement demonstrates the scalability and suitability of FendX’s REPELWRAP™ film formulation for automated manufacturing. The film, coated with nanotechnology, has repelling properties that protect against the spread of pathogens. This milestone allows FendX to refine the films further and conduct real-world testing.
Other companies making strides in the nanocoatings market include DuPont, which recently featured its Tedlar® product on an “Inside the Blueprint” segment, showcasing innovations in surface protection. LanzaTech Global, Inc. has collaborated with Dow to introduce a biodegradable surfactant made using LanzaTech’s CarbonSmart™ technology, advancing sustainability in the home care market. 3M Company has launched 3M FastTrack, a digital platform designed to expedite the innovation process by facilitating collaboration and funding for early-stage ideas. Zentek Ltd. has received positive results from a study evaluating the performance of its ZenGUARD™-enhanced filter technology, which removes infectious particles from the air.
With the growing demand for nanocoatings across various industries, the market is poised for significant growth. The construction sector’s focus on sustainability, the automotive industry’s need for abrasion-resistant products, and the healthcare sector’s adoption of antimicrobial coatings are driving factors. As companies like FendX Technologies continue to advance their nanotechnology and collaborate with industry leaders, the nanocoatings market is expected to thrive in the coming years.