Nano Paints & Coatings Market - Forecast (2023 - 2028)

Nano Paints Coatings Market Overview

Nano paints & coatings market size is forecast to reach $13.2 billion by 2026, after growing at a CAGR of 4.8% during 2021-2026, owing to the increasing demand for nanotechnology in paints & coatings. Graphene, carbon nanotubes, and nano silver are the mostly employed nanotechnology resin in the paints and coatings industry. Nano paints and coatings demand is increasing as they are extensively employed in various end-use industries to improve product properties such as abrasion and wear resistance, chemical and corrosion resistance, the stealth/IR shielding effect in defense applications, anti-reflection (AR) properties, and flame retardancy. The rapid growth of the automotive and marine industry has increased the demand for superhydrophobic coating nano paints & coatings; thereby, fueling the market growth. Furthermore, the flourishing aerospace industry is also expected to drive the nano paints & coatings industry substantially during the forecast period.

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Key Takeaways

• Asia-Pacific dominates the nano paints & coatings market, owing to the increasing aerospace industry in the region. China is estimated to require around 6,810 new commercial aircraft, valued at USD 1 trillion, in 2016, according to Boeing, over the next two decades.
• Nano paints and coatings such as superhydrophobic coating and hydrophilic coatings provide complete protection against heat, UV rays, corrosion, and weight due to the presence of a very high volume ratio among the nanoparticles. This property of nano paints & coatings is projected to increase the market growth.
• Increasing technological advances, such as in military and defense, will increase the use of nanotechnology-based paint and coatings. These variables tend to drive the market's growth.
• Due to the Covid-19 pandemic, most of the countries have gone under lockdown, due to which the projects and operations of various industries such as construction and automotive are disruptively stopped, which is hampering the nano paints & coatings market growth.