The global smart coatings market will grow from US$363M in 2013 to almost US$3.0bn in 2018, according to a report from industry analysis firm NanoMarkets. The report, ‘Worldwide Smart Coatings Markets, 2013-2020’, notes that because of their ability to quickly respond to external stimuli or resist extreme environments, smart coatings are finding new applications in several industry sectors including construction, automotive, consumer and the military.
NanoMarkets believes that smart coatings will do especially well in markets where quality and performance, shape purchasing decisions. Markets where the customer is willing to pay a premium for functionality, such as scratch resistance or enhanced energy efficiency, will also be important.
