The global nanocoatings market for the building and construction industry was valued at USD 740 million in 2016 and is expected to surpass USD 1,873 million by 2021, says Technavio.
Technavio has announced its latest market research report on the global nanocoatings market for the building and construction industry, under its metals and minerals portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like CTC Nanotechnology, Theta Chemicals, Advenira Enterprises, Inframat, and Nanogate.
According to Sharan Raj, a lead analyst for metals and minerals research at Technavio, “The increasing demand for indoor air quality products is expected to drive growth in the market. Sick building syndrome is increasing at a fast pace because of the decreasing quality of air. Generation of this particular problem calls for the need for indoor air quality products.”
One of the most important causes of poor indoor air quality is deterioration and poor maintenance of buildings. Approximately 30% of buildings are aging and are in need of repair, but because of negligence, they are giving rise to respiratory ailments and allergies.
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Product innovation
Product innovation plays an important role as the fragmented nature of market results in companies developing new products to gain competitive advantage. Nanotechnology is one of the best solutions for the coating industry to improve the application of nanotechnology in various end-use industries such as construction. Global coating manufacturers are constantly working on the development of nanocoatings to meet the regulations given by various environmental and government bodies such as EPA with low VOC content to improve their performances in different industry-specific areas.
Urbanization in BRICS
The nanocoatings market in Brazil, Russia, India, China, and South Africa (BRICS) is growing because of the industrialization and urbanization, along with the growing demand from consumers of the building and construction industry in these countries. In the building and construction industry, nanocoatings help in the reduction of algae, mild dew, and microbial growth. BRICS nations are the driving pillars of the global economy as these countries possess large customer base that consumes efficient building and construction materials in large quantity. The rising demand for construction materials increases the demand for nanocoatings in various applications.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio market research report titled, ‘Global Nanocoatings Market for the Building and Construction Industry 2017-2021‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Ceramic Coating for Thermal Spray Market 2017-2021
- Global Organic Pigments Market 2017-2021
- Global Specialty Pigments Market 2016-2020
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