Smart
coatings are specially designed films that have predefined
characteristics, which enable them to sense and respond to various
external and internal situations. Smart coatings are manufactured
from programmable materials with various physical, chemical,
mechanical, and electrical properties. These materials have the
ability to respond to variations in light, pressure, heat, and
chemical factors. Smart coatings are also used in the transportation
industry as anti-biofouling agents, which results in prolonged asset
life, reduced corrosion damage, and reduced maintenance costs.
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Smart
Coatings Market Outlook – Requisite for Robust Materials for
Artificial Intelligence Expected to Boost Demand
Increasing
demand for improved products in the automotive, military, and
aerospace industry is one of the major factors boosting growth of the
smart coatings market. Asia Pacific is one of the major contributors
in the smart coatings market globally. This is mainly attributed to
the booming automotive industry and increasing investments in defense
activities in emerging economies such as India and China. The total
defense budget of India was US$ 34.53 billion, and government
initiatives such as ‘Make in India’ is expected to fuel growth of
manufacturing units in the country
Increasing
demand for customization in sensing and repair abilities has led to
the growth of smart coatings market in military and automotive
industry. Smart coatings can improve a system’s efficiency by
reducing inspection time, equipment downtime and maintenance costs.
The outcomes of using smart coating also include a reduced necessity
for maintenance of corroded areas coupled with prolonging the life of
components and assemblies prepared from corrosive materials.
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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.
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