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Sol-Gel Coatings Market 2019Description: -
As per a new report, the global sol-gel coatings market is expected to witness sudden growth over the next few years. Sol-gel coatings are basically combination of hybrid, inorganic, and organic compounds which are made by converting monomers into colloidal solutions. Since these coatings are easy to use and are cost effective as well therefore they are being used in the production of protective surfaces.
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Key Players
Some of the key players operating in the global sol-gel coatings market are Ferro Corporation (US), Premium Coatings and Chemicals Pvt Ltd (India), Euroglas Gmbh (Germany), NanoTech Coatings (US), Warren Paint & Color Co. (US), OPTICOTE, INC (US), 3M (US), PPG Industries, Inc (US), The Sherwin-Williams Company (US),Henkel AG & Co., KGaA (Germany), Covestro AG (Germany), AkzoNobel NV (Netherlands), Arkema SA (France), Axalta Coatings Systems Ltd (US), CCM GmbH (Germany), and Nano Care Deutschland AG (Germany).
The growth of the global sol-gel coatings market is mainly due to increasing demand for protective coatings in the transportation industry as these coatings have numerous benefits associated with them including scratch resistance, anti-microbial, enhanced durability, gloss retention, water repellency among many others. Also, these types of coatings enhance the self-cleaning, wear resistance, fuel efficiency, and thermal performance which in turn in useful in reducing carbon footprint thus being preferred in more number of industries.
Some other factors that will fuel the demand for these sol-gel coatings include more usage of sol-gel in display screens of electronic devices and increasing production of electronic devices such as smartphones, laptops, gaming devices etc due to growing demand will further propel the market size greatly. Growing global production and sale of automobiles along with increasing purchasing power of the people will further influence the demand of sol-gel coatings market in the coming years.
Market Segmentation
The global sol-gel coatings market has been segregated into application and region. Based on application, the market is divided into automotive glass, healthcare, construction, mobile device screens, marine, solar panels, and others. Out of these, the automotive glass segment is expected to register highest CAGR in the coming years which is mainly due to more usage of sol-gel coatings in the manufacturing of metal parts, lamps, mirrors, and plastic hoods, among others.
Detailed Regional Analysis
The global market of the sol-gel coatings market has been divided into North America (covering US, Canada, Mexico are covered), Europe (Germany, UK, France, Italy, Russia, Spain etc) India, Japan, China, Southeast Asia, Central & South America and Middle East & Africa (Saudi Arabia, South Africa). ned across five regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. The North American market holds maximum global market share and is anticipated to grow in the future as well. The growth of the regional market is attributed to the increasing demand for wireless electronic devices and fuel-efficient automobiles. Meanwhile, APAC region will also show significant growth in the coming years. With implementation of “Net Zero Imports” in developing countries, especially India will further increase the manufacturing of electronics which in turn will boost the demand for sol-gel coatings.
Competitive Landscape
Growing tough competition among the major market players will influence the global sol-gel coatings market in the coming years. The manufacturers operating in the global market are focusing on strategic growth initiatives such as mergers and acquisitions, new product launches and agreements in order to strengthen their market presence and many such kinds of activities are expected to be seen in the future.
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