SMART COATINGS MARKET ANALYSIS
High price is one of the restraining factors for the smart coatings market globally. Developing a wide array of products to meet the current demand is one of the key strategies adopted by the major market players in the smart coatings industry. Research and development is carried on to manufacture smart coatings, which is expected to generate protectable intellectual property (IP), and this is projected to increase the area of application of smart coating. Smart coatings are also being developed for application as oil-filtering materials to provide complete separation of oil and water in an oil rig.
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