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, an