Nanocoatings Market Is Expected To Grow At a CAGR Of 22.3% From 2014 To 2020: Grand View Research, Inc.

The global nanocoatings market revenue is expected to reach USD 8.17 billion by 2020, according to a new study by Grand View Research, Inc. Nanocoatings are being extensively used as a substitute to conventional polymer coatings in applications including automobile, building & construction and medical & healthcare. Nanocoatings demand is expected to increase due to superior properties and lesser VOC emissions as compared to other commercially used coatings in the market.

Medical & healthcare was the largest application market for nanocoatings, with demand estimated at 43.7 kilo tons in 2013 owing to increased use of anti-fingerprint and anti-microbial coatings for maintaining clean and hygienic environment in patient care facilities. The segment is also expected to be the fastest growing application, at an estimated CAGR of 22.7% from 2014 to 2020. Nanocoatings are used in automotive applications in order to retain color and gloss, with estimated demand of 39.8 kilo tons in 2013.

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