World market for Nanocoatings to grow by 2017

The market for nanocoatings will grow across all sectors over the next 5-10 years; the military market will remain the largest market with anti-corrosion coatings increasingly applied.

Source: sashpictures - Fotolia.com

Global revenues for nanocoatings in 2017 are optimistically estimated to be USD 7,821 million, a CAGR of 27.25%. Conservative estimates put the 2017 market at USD 4,371.2 million. Despite the market being affected by the global economic recession, product innovation and the need to meet stringent environmental regulations is driving market demand across a wider range of markets, according to the study "The World Market for Nanocoatings” by Future Markets Inc. The market for nanocoatings will grow across all sectors over the next 5-10 years, with the medical, electronics and displays (especially smart phones), interior and exterior household coatings and food processing markets. All these markets are experiencing significant growth, driven by the need for improved sanitary facilities and also pushed by the vast improvements nanocoatings offer, from both a protective and destructive perspective. The military market will remain the largest market with anti-corrosion coatings increasingly applied. Anti-corrosion coatings and super hardness will also drive revenues in the oil and gas industry, for protective surfaces in pipelines and harsh environments and on drilling equipment.