Global Smart Coatings Fact

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Market Overview

According to Tanalyze Ltd., the global smart coatings market is expected to witness a compound annual growth rate (CAGR) of 17.7% (in value terms) during the forecast period, reaching a projected value of USD 16,670 million by 2029. Smart coatings encompass various functionalities, including color-shifting, water repellency, corrosion resistance, and electrical and tribological properties. These coatings are crafted from programmable materials with diverse chemical, mechanical, physical, and electrical attributes, enabling them to sense and react to external stimuli and environmental factors.

The report analyzes the segmentation of the global smart coatings market by product type for the forecast period. Key product type segments include anticorrosion, self-healing, superhydrophobic, antimicrobial, and others. The anticorrosion segment has demonstrated significant growth and is projected to reach USD 5,451 million by 2029, reflecting a CAGR of 19.1% during the forecast period (2024-2029). Anticorrosion coatings are designed to prevent or repair substrate corrosion at an early stage without using environmentally harmful inhibitors, such as chromium [Cr (VI)]. This category includes coatings with encapsulated corrosion inhibitors and chemically modified hybrid and organic matrices.

The report also examines the global smart coatings market size across various end-user segments, including construction, automotive and transportation, aerospace, defense, healthcare, and others for the indicated period. Within the construction segment, the market size has exhibited impressive growth. Projections indicate a continued upward trajectory, with the construction segment’s market size expected to reach USD 5,180 million by 2029, representing a CAGR of 18.1% during the forecast period from 2024 to 2029. Smart coatings are extensively utilized within the building and construction industry due to their capacity to reduce maintenance costs and downtime for buildings and industrial machinery. These coatings play a vital role in extending the lifespan of concrete structures and enhancing overall durability and safety. The growth of the construction sector, fueled by infrastructure development and urbanization, is a key driver behind the increasing demand for smart coatings.

Geographically, Asia-Pacific emerged as the dominant player in the smart coatings market in 2023, followed closely by North America and Europe. North America boasts a well-developed smart coatings market with numerous market participants, including NEI Corporation, LiquiGlide, Encore Coatings, Aculon, NeverWet, DryWired, Ultratech International, and Cytonix. This robust presence underscores North America’s significant share in various smart coatings segments. Europe’s smart coatings market is currently experiencing early-stage growth, with numerous research organizations and universities actively engaged in smart coatings research. The market’s trajectory is fueled by rising demand across various end industries, indicating promising growth prospects.

Prominent vendors shaping the competitive dynamics of the market include 3M Company, The Dow Chemical Company, RPM International Inc., BASF SE, PPG Industries Inc., The Sherwin-Williams Company, Axalta Coating Systems Ltd., AkzoNobel N.V., Jotun A/S, Hempel A/S, Aculon, Inc., Nanex Company, NEI Corporation, NTT Advanced Technology Corporation, and Surfactis Technologies SAS, among others.

This study aims to analyze the global market for various segments of smart coatings, including:

Product Type: Anticorrosion, Self-healing, Superhydrophobic, Antimicrobial, and Others.

Layer: Multi-layer and Single layer.

End-User: Construction, Automotive and Transportation, Aerospace, Defense, Healthcare, and Others.

Region: North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA).


Table of Contents

TABLE OF CONTENTS
TABLE OF CONTENTS 1
FIGURES AND TABLES 4
Part 1. Key Findings 7
Part 2. Scope and Methodology 8
Report Scope 9
Product Type 9
Layer 9
End-User 9
Region 9
Research Methodology 10
Part 3. Smart Coatings Market Overview 12
Summary 12
Introduction 14
Benefits of Smart Coatings 15
Technology 17
Market Composition and Key Participants in the Smart Coatings Industry 19
Part 4. Market Dynamics 20
Growth Drivers 20
Restraints and Challenges 25
Opportunities 27
Part 5. Global Smart Coatings Market by Product Type 29
Anticorrosion 32
Self-healing 35
Superhydrophobic 38
Antimicrobial 42
Others 45
Part 6. Global Smart Coatings Market by Layer 46
Multi-layer 49
Single layer 52
Part 7. Global Smart Coatings Market by End-User 54
Construction 57
Automotive and Transportation 60
Aerospace 63
Defense 65
Healthcare 67
Others 69
Part 8. Global Smart Coatings Market by Region 72
North America 76
Europe 78
Asia Pacific 80
Latin America 82
Middle East and Africa (MEA) 84
Part 9. Smart Coatings Market Competitive Analysis 86
Global Smart Coatings Market Competition Overview 86
3M Company 88
Business Overview 88
Contact Information 90
BASF SE 91
Business Overview 91
Contact Information 93
PPG Industries, Inc. 94
Business Overview 94
Contact Information 96
The Sherwin-Williams Company 97
Business Overview 97
Contact Information 98
The Dow Chemical Company 99
Business Overview 99
Contact Information 101
RPM International Inc. 102
Business Overview 102
Contact Information 104
Axalta Coating Systems Ltd. 105
Business Overview 105
Contact Information 107
AkzoNobel N.V. 108
Business Overview 108
Contact Information 110
Jotun A/S 111
Business Overview 111
Contact Information 113
Hempel A/S 114
Business Overview 114
Contact Information 114
Other Leading Competitors 115
Part 10. Smart Coatings Market Outlook 116
Disclaimer 118

FIGURES AND TABLES
Global Smart Coatings Market, Net Growth, 2020-2029 (USD Million)
Global Smart Coatings Market by Product Type, 2020-2029 (USD Million)
Global Smart Coatings Market Share (%), by Product Type, 2023/2029
Global Smart Coatings Market by Product Type, CAGR Historic and Forecast, 2020-2029
Global Smart Coatings Market for Anticorrosion: 2020-2029 (USD Million)
Global Smart Coatings Market for Self-healing: 2020-2029 (USD Million)
Global Smart Coatings Market for Superhydrophobic: 2020-2029 (USD Million)
Global Smart Coatings Market for Antimicrobial: 2020-2029 (USD Million)
Global Smart Coatings Market for Others Product Type: 2020-2029 (USD Million)
Global Smart Coatings Market by Layer, 2020-2029 (USD Million)
Global Smart Coatings Market Share (%), by Layer, 2023/2029
Global Smart Coatings Market by Layer, CAGR Historic and Forecast, 2020-2029
Global Smart Coatings Market Multi-layer: 2020-2029 (USD Million)
Global Smart Coatings Market for Single layer: 2020-2029 (USD Million)
Global Smart Coatings Market by End-User, 2020-2029 (USD Million)
Global Smart Coatings Market Share (%), by End-User, 2023/2029
Global Smart Coatings Market by End-User, CAGR Historic and Forecast, 2020-2029
Global Smart Coatings Market for Construction: 2020-2029 (USD Million)
Global Smart Coatings Market for Automotive and Transportation: 2020-2029 (USD Million)
Global Smart Coatings Market for Aerospace: 2020-2029 (USD Million)
Global Smart Coatings Market for Defense: 2020-2029 (USD Million)
Global Smart Coatings Market for Healthcare: 2020-2029 (USD Million)
Global Smart Coatings Market for Others End-User: 2020-2029 (USD Million)
Global Smart Coatings Market Share (%), by Region, 2023
Global Smart Coatings Market by Region, 2020-2029 (USD Million)
Global Smart Coatings Market Share (%), by Region, 2023/2029
Global Smart Coatings Market by Region, CAGR Historic and Forecast, 2020-2029
North America Smart Coatings Market: 2020-2029 (USD Million)
Europe Smart Coatings Market: 2020-2029 (USD Million)
Asia Pacific Smart Coatings Market: 2020-2029 (USD Million)
Latin America Smart Coatings Market: 2020-2029 (USD Million)
Middle East and Africa (MEA) Smart Coatings Market: 2020-2029 (USD Million)
3M Company Financial Overview (USD Million), 2019-2023
3M Company Revenue, by Segment, 2023
3M Company Revenue, by Region, 2023
BASF SE Financial Overview (EUR Million), 2019-2023
BASF SE Revenue, by Segment, 2023
BASF SE Revenue, by Region, 2023
PPG Industries, Inc. Financial Overview (USD Million), 2019-2023
PPG Industries, Inc. Revenue, by Segment, 2023
PPG Industries, Inc. Revenue, by Region, 2023
The Sherwin-Williams Company Financial Overview (USD Million), 2019-2023
The Sherwin-Williams Company Revenue, by Segment, 2023
The Dow Chemical Company Financial Overview (USD Million), 2019-2023
The Dow Chemical Company Revenue, by Segment, 2023
The Dow Chemical Company Revenue, by Region, 2023
RPM International Inc. Financial Overview (USD Million), 2019-2023
RPM International Inc. Revenue, by Segment, 2023
RPM International Inc. Revenue, by Region, 2023
Axalta Coating Systems Ltd. Financial Overview (USD Million), 2019-2023
Axalta Coating Systems Ltd. Revenue, by Segment, 2023
Axalta Coating Systems Ltd. Revenue, by Region, 2023
AkzoNobel N.V. Financial Overview (EUR Million), 2019-2023
AkzoNobel N.V. Revenue, by Segment, 2023
AkzoNobel N.V. Revenue, by Region, 2023
Jotun A/S Financial Overview (NOK Million), 2019-2023
Jotun A/S Revenue, by Segment, 2023
Jotun A/S Revenue, by Region, 2023

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