Sol-Gel Coatings Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3944
Sol-Gel Coatings Market size is likely to witness a considerable growth in future owing to its demand in various end-use industries for its numerous properties such as self-cleaning, corrosion resistant and IR & UV energy resistant coatings. This would certainly aid sol-gel coatings market size to grow with a significant rate of CAGR during the expected timespan. Sol-gel is a procedure of producing solid materials from tiny molecules. The process controls the conversion of monomers into colloidal solution (Sol), that functions as the precursor for combined network (Gel) of network polymers or discrete particles. The resulting gel is then applied on several substrate surfaces and dried off for the preparation of a glossy protective coating. In addition, sol-gel coatings usage for making protective exteriors of aircraft to prevent severe environmental damage coupled with the reduction in maintenance expenses of the aircrafts, is anticipated to propel the product market size across the forecast period.
Automotive industry is likely to be one of the major end-users of sol-gel coatings. Based on the OICA, the overall automotive sales (commercial and personal vehicles) in 2017 was over 96 million units. Thereby, escalating automotive production and sales will ultimately drive the industry growth as the product is widely used as protective coatings in the automobile surfaces.
However, the significant cost and fluctuations in the availability of raw materials can result into an obstacle in sol-gel coatings market in the projected timeframe. Although, the innovation of hybrid sol-gel coatings may provide a boost to the product market size due to its condensed barrier against corrosive species coupled with improved surface adherence to metal substrates and organic paints. Moreover, product use over metallic bone-interfacing implant surfaces improves the implant performance according to the implant fixation, wear and corrosion. For instance, the coating of a titanium implant with a sol-gel coating formulation distinctly increases its integration into the bone tissue.
Based on product type, sol-gel coatings market size is segmented into corrosion & wear resistant, water resistant and few others. Sol-gel coatings are exceedingly versatile, its widespread extents of application are manufacture of thin coatings or films with corrosion & wear resistant. The coatings are generally of decorative or protective nature and is used in an extensive range of substrates including metal and glass. Moreover, it is an elevated gloss coating which is able to endure greater temperatures as compared to conventional coatings. It gives the cookware such as pressure cooker, non-stick cookwares etc. an improved look and superior functionality.
Based on applications, sol-gel coatings market share is categorized into automotive and aerospace, healthcare, construction, solar panels, marine and few others. The increasing invasion of electronics and consumer goods is anticipated to catapult the overall sol-gel market in the projected timeframe. The touchscreen segment is expected to capture a considerable share of the electronics market. The swelling demand for sol-gel coatings by the touchscreen industry is expected to fuel the product market size in the coming years.
The sol-gel coatings market size is expected to be dominated by North America during the forecast period. The growing North America industry size is contributed by the strong product demand by the end-use industries, such as electronics, automotive and medical among others. In addition, the developed aerospace & automotive and healthcare industry in Europe are expected to obtain a significant share in the near future. Germany and U.K. are projected to become the main revenue makers in regional sol-gel coating market size in the expected timeframe.
Sol-gel coatings market share is contributed by the key companies present in the industry share. Some of the major players involved in the business 3M, Akzo Nobel N.V., PPG Industries, Inc., Sherwin-Williams Company, Premium Coatings and Chemicals Pvt Ltd, Ferro Corporation, NanoTech Coatings, Euroglas Gmbh, Warren Paints & Color Company, Henkel AG & Co., Opticote, Inc., Covestro AG, CCM GmbH, Arkema SA, Nano Care Deutschland AG etc.
Sol-gel Coatings Market, By Product type, 2014-2025
- Corrosion & wear resistant
- Water resistant
Sol-gel Coatings Market, By Application, 2014-2025
- Automotive and aerospace
- Electronics and consumer goods
- Solar panels
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- Saudi Arabia
- South Africa
- Akzo Nobel N.V.
- PPG Industries, Inc.
- Sherwin-Williams Company
- Premium Coatings and Chemicals Pvt Ltd.
- Ferro Corporation
- NanoTech Coatings
- Euroglas Gmbh
- Warren Paints & Color Company
- Henkel AG & Co.
- Opticote, Inc.
- Covestro AG
- CCM GmbH
- Arkema SA
- Nano Care Deutschland AG
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