LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global nanocoatings for the building and construction market to grow at a CAGR of more than 20% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global nanocoatings for the building and construction market for 2017-2021. The report also lists building and infrastructure as the two major end-use segments, of which the building segment accounted for over 62% of the market share in 2016.
According to Mahitha Mallishetty, a lead analyst at Technavio for metals and minerals research, “Nanocoatings are specifically used to protect various construction surfaces, including glass, concrete, sand, limestone, and marble against environmental influences causing water staining, algae, soot, and oil stains. Nanocoatings make the building surface highly hydrophobic and oleophobic; thus, reducing the maintenance costs and increasing the time span for maintenance.”
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Technavio chemicals and materials analysts highlight the following three market drivers that are contributing to the growth of the global nanocoatings for the building and construction market:
- Potential uses of nanocoatings
- Increasing demand for indoor air quality products
- Growing demand from developing economies
Potential uses of nanocoatings
The use of nanocoatings in various end-use industries such as the building and construction industry helps in minimizing material use, minimizing waste, and optimizing energy consumption while improving product performance. Areas, where nanomaterials can be of immense help to the existing services, include building and construction, healthcare, automotive, furniture, and energy industries.
The use of nanocoatings helps in reducing corrosion, erosion, and UV-degradation. They prevent algae growth or the attack by other organisms such as woodworm or termites. Nanocoatings help improve resistance to vandalism and introduce easy-to-clean surfaces. Moreover, the use of nanocoatings enables the construction of materials that are light, strong and durable.
Increasing demand for indoor air quality products
Sick building syndrome is increasing at a fast pace because of the decreasing quality of air. This particular syndrome mainly occurs when air pollutants are trapped in an area, giving rise to health problems. One of the most important causes of poor indoor air quality is deterioration and poor maintenance of buildings.
The use of nanocoatings additives in paints and coatings has increased in the past few years because of increasing awareness about health-related effects of mold growing on various building structures.
“Antimicrobial nanopaints and nanocoatings ensure that the air inhaled near buildings is free from disease-causing pathogens. Also, modern antimicrobial coatings are less toxic to humans than traditionally used paints, says Mahitha.
Growing demand from developing economies
Increasing investment in the development of infrastructure in APAC and Central and South America has contributed to the growing demand for nanocoatings, especially from the commercial sector. The growth of the housing market in India, Thailand, Philippines, Indonesia, Peru, Colombia, Brazil, Mexico, and Chile has led to an increase in demand for nanocoatings from residential and non-residential end-users.
The housing market is experiencing a steady recovery from the impact of the 2008-2012 economic recession. There has been an increase in the prices of homes in over 30 countries worldwide. This growth is indicative of the growing investments by consumers in the housing market in these countries. It also signifies that there are many opportunities for growth in the construction end-use segment for vendors of nanocoatings during the forecast period.
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