Tuesday, 16 July 2019 08:29 GMT
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Global Sol-Gel Coatings market was valued at USD 2,263.9 million in 2018 and is projected to reach USD 3,853.5 million by the end of the forecast




(MENAFN - America News Hour) Sol-gel coatings are a
combination of hybrid, inorganic, and organic compounds prepared by converting
monomers into colloidal solutions. These coatings are easy to use and
inexpensive, thereby are used in the production of protective surfaces. These
coatings exhibit properties such as anti-bacterial, anti-fouling, UV and IR
protection, wear resistance, and anti-static. The versatility of sol-gel
coatings has enabled their use in major end-use industries such as automotive,
medical devices electronics, solar panel, construction, and marine.
The global sol-gel coatings market was valued at USD 2,263.9 million in 2018
and is projected to reach USD 3,853.5 million by 2023 at a CAGR of 11.22%. The
growth of the global sol-gel coatings market is primarily driven by the
increasing demand for protective coatings in the transportation industry. The demand
for protective coatings is increasing owing to the benefits associated with
them such as scratch resistance, anti-microbial, durability, gloss retention,
water repellency, and UV and infra radiation stability. Furthermore, these
coatings enhance the self-cleaning, wear resistance, fuel efficiency, and
thermal performance, which helps in reducing carbon footprint, maintenance
costs, and ice accretion. The other factor fueling the demand for these
coatings is the use of sol-gel in display screens of electronic devices. The
increasing production and sale of electronic devices such as smartphones,
laptops, gaming devices, and others are expected to fuel the demand for sol-gel
coatings in the electronics industry. The increasing production and sale of
automobiles across the globe with the increasing disposable income are also
projected to fuel the demand and drive the global market growth. Moreover, the
implementation of 'Net Zero Imports' target in developing countries, e.g.,
India, is expected to increase the manufacturing of electronics, which
consequently is expected to boost the demand for sol-gel coatings. 

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The manufacturers in the global market are focusing on strategic growth
initiatives such as mergers and acquisitions, new product launches and agreements
to strengthen their market position and meet the growing demand in the
automotive glass, healthcare, construction, and marine applications, among
others. For instance, in June 2017, The Sherwin Williams Company acquired
Valspar Corporation, an American manufacturer of paints and coatings based in
Minneapolis, US. This acquisition was in line with the company's growth
strategy of becoming the global leader in the paints and coatings market. 
Regional Analysis 
The global sol-gel coatings market, by region, is spanned across five regions,
namely Asia-Pacific, North America, Europe, Latin America, and the Middle East
& Africa. North America accounted for around 32.95% of the global market
share and was valued at USD 746 million in 2018 and is expected to reach USD
1261.5 million at a CAGR of 11.08% during the assessment period. The growth of
the regional market is attributed to the increasing demand for wireless electronic
devices and fuel-efficient automobiles. 
Asia-Pacific emerged as the fastest growing regional market in 2018,
registering the highest CAGR of 13.57%. 
Segmentation
The global market has been segmented on the basis of application and region.
Sol-gel coatings have a wide range of applications, including automotive glass,
healthcare, construction, mobile device screens, marine, solar panels, and
others. Among these, the automotive glass segment accounted for the largest
market share of 31.97% in 2018, with a market value of USD 723.7 million and is
projected to register the highest CAGR of 12.92% during the forecast period.
This is due to the extensive use of sol-gel coatings in the manufacturing of
metal parts, lamps, mirrors, and plastic hoods, among others. These coatings
not only protect the automotive glass from scratches and dust but also provide
all-around protection from ultraviolet and infrared radiation.
Key Players
Some of the key players operating in the global sol-gel coatings market are Ferro
Corporation (US), Premium Coatings and Chemicals Pvt Ltd (India), Euroglas Gmbh
(Germany), NanoTech Coatings (US), Warren Paint & Color Co. (US), OPTICOTE,
INC (US), 3M (US), PPG Industries, Inc (US), The Sherwin-Williams Company
(US),Henkel AG & Co., KGaA (Germany), Covestro AG (Germany), AkzoNobel NV
(Netherlands), Arkema SA (France), Axalta Coatings Systems Ltd (US), CCM GmbH
(Germany), and Nano Care Deutschland AG (Germany).


Geographic Analysis 
The report covers a brief analysis of geographies including:
• North America 
o US
o Canada
• Europe
o Germany
o UK
o Russia
o France
o Spain
o Italy
o The Netherlands
o Belgium
o Poland
o Rest of Europe
• Asia Pacific 
o China
o Japan
o India
o South Korea
o Indonesia
o Thailand
o Malaysia
o Australia & New Zealand
o Rest of Asia-Pacific
• Latin America
o Brazil
o Argentina
o Mexico
o Rest of Latin America
• Middle East & Africa
o Turkey
o UAE
o Israel
o Saudi Arabia
o Egypt
o Rest of Middle East and Africa


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.
Key Findings
The global sol-gel coatings market was valued at USD 2,263.9 million in 2018
and is projected to reach USD 3,853.5 million by the end of the forecast period
at a CAGR of 11.22%. The automotive glass segment accounted for the largest
market share in 2018 and is projected to reach USD 1,328.7 million by the end
of the review period. 


Asia-Pacific emerged as the fastest growing regional market with a CAGR of
13.57% and was valued at USD 472.7 million in 2018. 
Intended Audience
• Sol-Gel Coatings Manufacturers
• Traders and Distributors of Sol-Gel Coatings
• Potential Investors
• Raw Material Suppliers
DC – Description 
• coating films
• coating procedures
• hybrid coatings
• sol-gel
• corrosion
• steel
• green materials

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Eli

Eli is a freelance writer and possess double graduation degree in physics and chemistry. She is an intense writer covering everything for Science and Tech to Business, Entertainment, Sports and Lifestyle.

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Global Sol-Gel Coatings market was valued at USD 2,263.9 million in 2018 and is projected to reach USD 3,853.5 million by the end of the forecast

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