New York, NY -- (SBWIRE) -- 12/18/2014 -- Coating is referred as unique covering which is applied on the surface of any particular object to protect it from external environment. Other purposes such as decoration or other functional objectives are also fulfilled when coating is applied to any object. Coating can be applied completely or only to certain parts of the object. Paints and lacquers are majorly used as coating material which can protect the object from external environment as well as decorate the outer surface of the object. Recently smart coating has penetrated the market very heavily. Smart coatings are layer or films made of unique coating materials. These materials have pre-defined characteristics which can change its property according to the demand of external stimuli. External stimuli may include electric current, light and pressure. Smart coating can be customized according to the requirement of the customer. Smart coating has gained its important majorly due to its competitive advantages over normal coating in a wide range of applications. Smart coating can be a coating which can indicate damage on an aero engine and oil and gas platform. Also, smart coating is used to reduce the overall weight of an aircraft. Smart coating materials have the property of chemical resistant and weatherproof, hence it is used as coating medium by both industrial and domestic end-users.

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On the bases of function performed by coating materials, the global smart coating market can be bifurcated into self-cleaning coating, anti-corrosion coating, self-healing coating, self-dimming coating, biomedical coatings and others. Self-cleaning coatings dominates the global smart coating market. Smart coating materials are majorly used for medical and military applications. Other major application of smart coating materials are in the field of IT technologies, aerospace, food packaging, automotive, construction, industrial, household and personal care industry. Owing to rising investment for improvement of infrastructure facilities construction industry is expected to lead the smart coating market in the coming future.

Europe has the largest market share for smart coating materials, followed by North America and Asia Pacific. Europe and North America are expected to show marginal growth in the forecasted period. However Asia Pacific is expected to witness highest growth in the forecasted period owing to increasing domestic demand by the end-users industry especially in the developing countries such as China and India.

Increasing demand from the end-user industries such as medical, military and construction is driving the global smart coating market. Additionally, upcoming popular world events such as Dubai's world expo trade convention, FIFA world cup in Qatar and massive infrastructural development plan of UAE is expected to increase the demand for smart coating materials in the Asia Pacific region. In 2014, Abu Dhabi Government approved an investment of USD 10.2 billion to enhance the infrastructure and economic growth of the nation. However, Smart coating material increases the weight of the final products and impacts aesthetics of the final product. This may hamper the adoption of smart coating by end-user industries such as consumer electronics and apparels. Also, environmental impact of smart coating is expected to hamper the global smart coating market, but at a very low level.

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Increasing demand and willingness of by the end-user industries have influenced the coating material manufacturing companies to invest more on new innovative smart coating production, especially in the Asian countries. Some of the major companies operating in the global smart coating market are Bayer AG, 3M Company, Dow Chemical Company, Royal DSM, Dupont, Eastman Chemical, Nippon Steel, Debiotech SA, Balcony Systems Solutions Ltd, Ancatt Inc., Research Frontiers, Inc., New Energy technologies and Nanoshell.

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Key points covered in the report:

1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)

2) The report covers geographic segmentation

North America
Europe
Asia
RoW

3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020

4) The report provides company profiles of some of the leading companies operating in the market
The report also provides porters five forces analysis of the market.

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