Smart Coating Market Study by Key Manufacturers, Regions, Type and Application to 2024 “The market is subject to witness a substantial growth due to the rise in the constant demand of smart coating solutions from number of end-user industries such as construction industry, automobile, military& defense sector, and medical sector. Highlyspecialized properties associated with the use of smart coating are self-healing, selfcleaning and erosion resistant.�
The global smart coating market size is expected to value at USD 11.68 billion by 2024. The market is subject to witness a substantial growth due to the rise in the constant demand of smart coating solutions from number of end-user industries such as construction industry, automobile, military& defense sector, and medical sector. Highly-specialized properties associated with the use of smart coating are self-healing, selfcleaning and erosion resistant. Such properties demonstrated by smart coating materials are vital in the automotive and aerospace sector, majorly for exterior usage. The use of the smart coating in aircrafts helps to identify any form of damage on an aero-engine. Globally, the smart coating market is predicted to grow at CAGR of 31.5% in the forecast period, providing numerous opportunity for market players to invest for research and development in the market. Increasing adoption of smart coating in the military and defense sector, majorly due to increasing need for customized, self-repair mechanism, in-built AI systems, and advanced detection abilities, is leading to market growth. The critical challenges such as biofouling and microbial attacks are over powered with adoption of the smart coating in the marine time applications. In addition, smart coating overcomes existing repair challenges with in-built self-repairing capabilities, mainly in the aerospace sector, thus propelling the growth for smart coating industry over the forecast period. The market segment involving multi-layer products has shown significant development in the recent years due to rising usage of multi-layered coatings for surface protection in number of industry sectors.
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