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n-tech Research Launches New Data Set on Smart and Multifunctional Coatings, Predicts $6.3 Billion in Revenues in 2024

News Release


February 22, 2024

Glen Allen, Virginia: Leading industry analyst firm n-tech Research has launched its latest global forecast for the smart and multifunctional coatings market. The firm projects revenues to reach $6.3 billion in 2024 and surge to $23.5 billion by 2030.  The data within the coverage encompasses eight different industry verticals with fifteen applications included.

For additional information, see https://www.ntechresearch.com/market-reports/global-smart-coatings-market-2023-2030/

Highlights from the report as well as a full mapping of the data sets can also be provided upon request.  The firm is offering free data upgrades through April 1st

About the Report

n-tech Research’s newest offering presents updated forecasts for the global smart and multifunctional coatings market, extending through 2030. The dataset covers industry verticals such as Aerospace, Automotive, Construction, Consumer Electronics and Appliances, Energy, Marine, Medical, and Wearables. It includes application-specific breakdowns of smart coatings including Anti-corrosion, Anti-drag, Anti-fouling, Anti-icing, Breathable coating, Color-shifting coatings, Conductive coating, Electrochromic, PCM coatings, Self-cleaning, Self-healing, SHM and smart skins, Smart anti-microbials, Solar paint, and more. Data is expressed by revenues, shipments, applications, industries, TAM/SAM and by global and regional segmentations. 

About The Program

n-tech Research’s coverage of smart and highly coatings, surfaces, and materials dates back over a decade.  Our firm has issued several dozen market reports and forecasts for a global roster of companies.  The research program provides a comprehensive assessment of major and secondary/emerging applications and use cases across eight separate industry verticals. Clients have to opportunity to subscribe to an annual program, purchase reports, or data only products containing different levels of detail across various functions and applications, industry verticals, and geographic regions.

See: https://www.ntechresearch.com/smart-coatings-analysis/ for more information.

Key Findings

The global smart coatings market is poised to exceed $23 billion in revenues by 2030. Growth is across sectors with the automotive industry leading at a CAGR of 22.9%, followed by Construction at 25.5%, Energy at 24.8%, and Textiles/Wearables at 18.6%.

Major application segments projecting substantial growth, include Self-Cleaning coatings expected to surpass $8.5 billion in 2030, Smart-Antimicrobials as the second-largest segment at $5.2 billion, and other segments like Anti-Icing, Anti-Fouling, EC Glass Coatings, and Anti-Corrosives ranging from $1.3 billion to nearly $3 billion.

All major applications forecast double-digit growth annually, ranging from 12% to 27%.


Factors of Influence

Smart and multifunctional coatings play a pivotal role in supporting sustainability, efficiency, user experience improvement, energy savings and generation. Their adoption has steadily increased, absorbing a growing share of the paint and coatings industry. As the trend continues, diversified use with sectors and new applications and use cases will evolve.

Industries deploying smart coatings will still face challenges due to inflationary pressures, higher interest rates, construction activity slowdowns, electric vehicle adoption, pressure to reduce Bill of Materials (BOM), and environmental policies targeting carbon reduction. Communicating clear cost/benefits will be essential as smart coatings have cost premiums compared to traditional approaches.

The next wave of use cases within both new and existing applications and verticals will drive further innovations in coatings, application methods and underlying materials.  Suppliers will play an active role in driving the business forward in showing what is possible, where, when, and how. 

About n-tech Research

Established in 2003 as NanoMarkets, n-tech Research specializes in comprehensive research, analysis, and forecasting of opportunities arising from the growth of smart coatings and surfaces. The firm covers materials, coatings, sensors, electronics, and enabling technologies globally, catering to various industry verticals, applications, and use cases. We offer flexible product and service models to ensure client satisfaction.

Media Contact

Robert Nolan
n-tech Research
Email: rob@ntechresearch.com
Phone: 804-972-4488

 

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