The worldwide smart coatings market will grow from $363 million in 2013 to almost $3.0 billion in 2018, according to a new report from industry analysis firm NanoMarkets. The report, "Worldwide Smart Coatings Markets, 2013-2020," noted that because of their ability to quickly respond to external stimuli or resist extreme environments, smart coatings are finding new applications in several industry sectors including construction, energy, automotive, medical, consumer electronic goods and the military.
NanoMarkets believes that smart coatings will do especially well in markets – such as the military -- where quality and performance, rather than price, shape purchasing decisions. Consumer markets where the customer is willing to pay a premium for functionality such as scratch resistance or enhanced energy efficiency will also be important.
