Global Sol-Gel Coatings Overview 2027 Growth Trends by Manufacturers, Regions, Type and Application, Forecast
Market Research
Future (MRFR) reveals in its latest study that the global sol-gel coatings
market is poised to thrive at a robust CAGR of 11.22% during the forecast
period 2018 to 2023. MRFR further reveals that the market is estimated to reach
a value over USD 3853.5 Mn by 2023 up from USD 2,047.4 Mn in 2017.
The tremendous
growth witnessed in the transportation sector has boosted the demand for
sol-gel coatings as it caters to the need for multi-functional coatings.
Furthermore, the adoption of sol-gel coatings for protecting surfaces of
aircraft from harsh environmental damage is projected to fuel demand in the
market across the projection period. Sol-gel coatings alleviate the maintenance
costs of aircrafts, which is likely to have a positive impact on the market
expansion.
The increasing
penetration of electronics and gadgets is expected to catapult the global
sol-gel market on an upward trajectory. The touchscreen segment has captured
15% share of the electronics market, and the trend is anticipated to continue
in the foreseeable future. The increasing demand for sol-gel coatings by the
touchscreen industry is expected to complement the sol-gel market proliferation
across the review period.
A paradigm shift to
bio-based products has opened up avenues for product portfolio expansion and
innovation in the sol-gel coatings industry. Market operators are investing in
research and development activities for upgrading existing technologies and
keeping themselves ahead of the curve. The growth strategies implemented by the
existing players are projected to aid market growth over the review period.
The organic and
inorganic precursors used in the manufacturing of sol-gel coatings are derived
from downstream products of crude oil. The price volatility of crude oil is one
of the major restraints poised to hold the sol-gel coatings market expansion
throughout the projection period. However, stable families of chemical
precursors are being developed for making sol-gel technology more pervasive
across the assessment period.
Table Of Contents
1 Executive Summary
2 Market
Introduction
2.1 Definition 18
2.2 Scope Of The Study 18
2.3 List Of Assumptions 19
2.4 Market Structure 20
3 Market Insights
4 Research
Methodology
4.1 Research Process 26
4.2 Primary Research 27
4.3 Secondary Research 28
4.4 Market Size Estimation 28
4.5 Forecast Model 29
5 Market Dynamics
5.1 Introduction 31
5.2 Drivers 32
5.2.1 Drivers Impact Analysis 32
5.2.2 Growing Demand For Protective Coatings In The
Transportation Industry 32
5.2.3 Use Of Sol-Gel Coatings In Display Screens Of
Electronic Devices 33
5.3 Restraints 34
5.3.1 Restraints Impact Analysis 34
5.3.2 High Cost Of Sol-Gel Chemical Precursors 34
5.4 Opportunities 34
5.4.1 Increasing Awareness Of The Spread Of
Infections In Hospital Surroundings 34
5.4.2 Increased Focus On Innovative And Eco-Friendly
Sol-Gel Coatings 35
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Global
Market for Sol-Gel Coating-Segmental Analysis:
MRFR’s report offers a
detailed segmental analysis of the market based on application. By application,
the sol-gel coatings market is segmented into automotive glass, healthcare,
construction, mobile device screens, marine, solar panels, and others. Among
these, the automotive glass segment is projected to exhibit the steepest rise
at 12.92% CAGR. The healthcare segment currently accounts for the second
largest share in the global sol-gel coating market, and it is likely to
continue its dominance over the assessment period.
Regional
Outlook:
By region, the
global sol-gel coating market has been segmented into Asia Pacific, Latin America,
North America, Europe, and the Middle East & Africa. North America
presently holds the maximum share of the global market. It is likely to retain
its dominance over the next couple of years. The growth in North America market
is attributable to the strong value maintained by end-user industries, such as
transportation, electric and electronics, and marine among others. The North
America market was valued at USD 675.2 Mn in 2017 and is estimated to register
11.08% CAGR during the forecast period.
Europe accounts for the
second largest share of the global market. The trend is likely to continue
through the assessment period. The developed transportation and healthcare
sectors in the region are expected to accelerate the revenue creation for
market participants. Germany and the U.K. are the primary revenue generators in
Europe sol-gel coating market.
Asia Pacific holds
immense potential for market growth and is one of the emerging sol-gel coatings
markets globally. The market in Asia Pacific is estimated to reach a valuation
of USD 893.2 Mn by 2023 striking a CAGR of 13.57%. The factors responsible for
encouraging growth in the global sol-gel coatings market are increased
government expenditure on the development of the electric and electronics
sector, and, thriving transportation sector among others. China accounts for
the most substantial share in the Asia Pacific market, trailed by Japan and
India.
Global
Market for Sol-Gel Coating-Competitive Dashboard:
Some of the key
players profiled by MRFR in its report include PPG Industries, Inc., Akzo Nobel
N.V., 3M, Axalta Coatings, and the Sherwin-Williams Company, Ferro Corporation,
Premium Coatings and Chemicals Pvt Ltd, Euroglas Gmbh, NanoTech Coatings,
Warren Paints & Color Company, OPTICOTE, INC, Henkel AG & Co., KGaA,
Covestro AG, Arkema SA, CCM GmbH, and Nano Care Deutschland AG.
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About Market Research Future:
At Market Research Future (MRFR), we
enable our customers to unravel the complexity of various industries through
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MRFR team have supreme objective to
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clients. Our market research studies by products, services, technologies,
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which help to answer all their most important questions.
In order to stay updated with
technology and work process of the industry, MRFR often plans & conducts
meet with the industry experts and industrial visits for its research analyst
members.
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