NANOCOATINGS MARKET ANALYSIS

The fluctuating prices of raw materials used in the production of nanocoatings is a major roadblock that is restricting the growth prospects of the nanocoatings market globally. Nanocoatings find wide applications across several end-use industries such as construction, marine, aviation and automotive amongst others due to their unique properties like corrosion resistance, self-cleaning, anti-microbial etc.

For instance, prices of metals like silver, titanium and zinc which are widely used in manufacturing of nanocoatings increased significantly in the past year primarily due to intermittent lockdowns in major producing countries and global supply chain disruptions caused by the ongoing Russia-Ukraine war. For instance, Data released in April 2022, according to data released by World Bank, the Russia-Ukraine conflict led to over 30% year-on-year increase in prices of titanium in 2022.

Market Opportunity- Investment in R&D of newer nanocoating products

Global nanocoatings market provides significant opportunities for companies who invest in research and development to expand their portfolio of innovative coating solutions. Newer application areas across industries like automotive, aerospace, energy, infrastructure and healthcare have emerged in recent years, thus, opening up scope for specialized nanocoating formulations Companies leading the innovation through R&D will be best positioned to capture early mover advantages and premium pricing in the market. First mover brands investing aggressively in novel nanocoating technologies stand to gain largest market shares long-term from a widening array of product offerings.