Sol-gel Coatings Marke showing Compound annual growth rate and forecast till 2025

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Sol-gel Coatings Market Outlook

North America is the largest market for sol-gel coatings, owing to the stringent U.S. Environment Protection Agency (EPA) and US Food and Drug Administration (FDA) regulations such as 183(e) of the Clean Air Act (Act), which is increasing the demand for environment friendly coating such as sol-gel coatings. Also, the increasing demand from automotive and aerospace industry is further driving the growth of sol-gel market in this region. According to International Organization of Motor Vehicles Manufacturers (OICA), representative of global automotive industry, the registration and sales of new vehicles in Canada was around 1,939,517 1 in 2015, which increased to 1,983,745 in 2016.

Asia Pacific is the fastest growing region in sol-gel coating market due to the growing demand for coatings from various end-use industries such as automotive, building and construction, and others. According to the India Brand Equity Foundation (IBEF), the automobiles industry in India is expected to reach US$ 260 to 300 billion by 2026 and the electronics market is expected to reach US$ 400 billion in 2022. Also, according to the International Organization of Motor Vehicles Manufacturers (OICA), total motor vehicle production in China was 24,503,326 in 2015, which increased to 28,118,794 in 2016. Increasing demand for automotive industry in India and China is fuelling the growth of sol-gel coating market in this regionEurope is a lucrative sol-gel market owing to the rising demand for environment friendly coating materials due to the stringent environmental regulations. For instance, Directive 2004/42/EC of the European Parliament which limits the emissions of volatile organic compounds (VOC) in vehicle refinishing products, paints and others thereby driving the market for coatings low or free of VOCs such as sol-gel coatings.

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Rising demand for various sol-gel coatings such as self-cleaning, corrosion resistant, and IR and UV energy resistant from the automotive and aerospace industry is driving the growth of sol-gel coatings market. Moreover, sol-gel technique is environment friendly method for the protection of surface and can be used to replace toxic pretreatments and coatings such as chromate conversion coatings, which in turn has augmented the growth of this market.  Furthermore, increasing demand for nanostructured thin films and water-based coatings is propelling the growth of sol-gel coatings market. However, high cost of these coatings is restraining the growth of sol-gel coatings market.

Key players operating in the sol-gel coating market include 3M Company, Akzo Nobel N.V., PPG Industries, Inc., Socomore S.A.S., CG2 NanoCoatings Inc, CMR Coatings GmbH, Praxair, Inc., Nano Tech Coatings GmbH, Nanovations Pty Ltd., and Nanogate AG.

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Sol-gel Coatings Market Taxonomy:

On the basis of Product Type, Sol-gel Coatings Market is segmented into:Corrosion Resistant,Water Resistant,Wear Resistant,Photocatalytic Self-Cleaning Energy Resistant,Others

On the basis of End-use Industry, Sol-gel Coatings Market is segmented into:Automotive,Aerospace,Building and Construction,Electrical and Electronics,Medical and Healthcare,Others

The automotive industry is the largest end user of sol-gel coatings, owing to their applications in coating metal parts, paint surface treatments, metal structures, lamps, mirrors, and plastic hoods. For instances, sol-gel coatings containing fluorine functionalized alkoxy silane are used in the windshield and side mirror while low refractive index material coatings are is used in the rear-view mirrors.

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