Nano Paints & Coatings Market: Segmentation
Based on type of nanoparticle used, the nano paints & coatings market has been divided into graphene, carbon nanotubes, nano-SiO2 (silicon dioxide), nano silver, nano-TiO2 (titanium dioxide), and nano-ZNO. In terms of method used, the nano paints & coatings market has been segmented into electrospinning, chemical vapor deposition (CVD), physical vapor deposition (PVD), atomic layer deposition (ALD), aerosol coating, self-assembly, and sol-gel. Based on end-user, the nano paints & coatings market has been classified into marine, automobile, warships, hospitals, oil & gas, electronics & optics, biomedical, packaging, and aerospace. The aerospace segment has immense growth potential.
Nano particles used in nano paints & coatings improve durability, reliability, resistance to erosion and sliding, surface quality, UV resistance, and thermal insulation. Nano paints & coatings are elastomeric and anti-sticking in nature. They offer low VOC emissions and add characteristics to aircraft frames, interiors, exteriors, turbine blades, engine parts, and component surfaces. Nano paints & coatings protect the structure and surface of an aircraft from adverse environments, changing temperature conditions, high pressure, and reduction of drag. This helps in saving fuel and preventing thermal shocks. Nano paints & coatings also offer crack healing, improved high-temperature and creep resistance, enhanced strength, reduced carbon footprint, less cleaning and maintenance costs, protection from corrosion and erosion, and reduced ice accretion.
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Nano Paints & Coatings Market: Overview
The nano paints & coatings market in Asia Pacific is expanding at a rapid pace compared to other regions. China is a leading market for nano paints & coatings, followed by India and South Korea. Japan is a major market for nano materials, as they are consumed the most in the electrical & electronics (E&E) sector in the country. China is making high investments in the nanotechnology field. Asia Pacific is witnessing advancements in technology and increase in investments in R&D activities. This is driving the nano paints & coatings market in the region.
The rise in demand from developing economies, emergence of newer applications, and focus on eco-friendly products are driving the nano paints & coatings market in the region. High costs of raw materials and stringent regulatory policies act as restraints for the nano paints & coatings market. Nano paints & coatings provides corrosion protection using environmentally safe material, sense corrosion and mechanical damage of aircraft skin, initiate responses to sensed damage, achieve optimal adhesion using environmentally compliant materials, and improves fatigue resistance. Nano paints and coatings used in the defense industry are directly applied by the labor, which can be hazardous for them. Nano coatings are applied by using hands, which may cause damage to the metal material.
Nano Paints & Coatings Market: Regional Outlook
The nano paints & coatings market in Asia Pacific, North America, and Europe is rapidly expanding. The market in Asia Pacific is expected to expand at a rapid pace in the near future. North America and Europe are emerging markets for nano paints & coatings.
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Nano Paints & Coatings Market: Key Players
Key players operating in the global nano paints & coatings market are Dura Coat Products, I-CanNano, Henkel Corporation, DuPont, Evonik, Wacker Chemie, Beckers Group, Akzo Nobel, PPG Industries, Valspar, Nanovere Technologies LLC., Yung Chi Paint & Varnish Mfg., and BASF SE.