Which Factors are Stimulating Demand for Photocatalytic Self-cleaning Sol-Gel Coatings : Fact.MR

Sol-Gel Coatings Market

ROCKVILLE, MARYLAND, UNITED STATES, November 23, 2021 /EINPresswire.com/ — Fact.MR – a market research and competitive intelligence provider, projects the global sol-gel coatings market to have a positive outlook, expanding at a CAGR of above 10% across the 2021-2031 forecast period. The market is expected to develop significantly in future due to numerous qualities of sol-gel coatings such as self-cleaning, corrosion resistance, and IR & UV energy resistance.

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The versatility of sol-gel coatings has enabled solutions in industries such as electronics, optics, solar energy harvesting, aerospace, automotive engineering, marine protection, and healthcare. Increasing global demand for renewable sources of energy is creating massive opportunities for solar energy-harnessing devices, which, in turn, use sol-gel coatings, thereby driving demand. Sol-gel processing applications are also being driven by growing demand for anti-reflective coatings in construction and infrastructure industries.

sol gel coatings market by FactMR

Key Takeaways from Market Study

Sales of sol-gel coatings to reach over US$ 5 Bn by 2031
The market in China forecast to expand at around 9% CAGR
The building & construction segment, under application, is projected to record above 7% CAGR through 2031
The market in Asia Pacific is forecast to reach a valuation of more than US$ 550 Mn by 2031
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Key Points Covered in Sol-Gel Coatings Industry Research:
Market Estimates and Forecasts (2016-2031)
Key Drivers and Restraints Shaping Market Growth
Segment-wise, Country-wise, and Region-wise Analysis
Competition Mapping and Benchmarking
Brand Share and Market Share Analysis
Key Product Innovations and Regulatory Climate
COVID-19 Impact on Sol-Gel Coatings and How to Navigate
Recommendation on Key Winning Strategies

Key Market Segments Covered in Sol-Gel Coatings Industry Analysis

Product
Wear-resistant Sol-Gel Coatings
Corrosion-resistant Sol-Gel Coatings
Water-resistant Sol-Gel Coatings
Photocatalytic Self-cleaning Sol-Gel Coatings

Application
Automotive Sol-Gel Coatings
Aerospace Sol-Gel Coatings
Biomedical Sol-Gel Coatings
Building & Construction Sol-Gel Coatings
Electronics Sol-Gel Coatings

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Fragmented Market

The sol-gel coatings industry is witnessing numerous mergers and acquisitions. Many new competitors have entered the business in addition to organizations that are already operating in this space. R&D spending is being done to introduce new technologies into the mainstream market. Presence of a multitude of players renders the landscape quite fragmented.

In June 2017, the Sherwin Williams Company acquired Valspar Corporation, an American manufacturer of paints and coatings based in Minneapolis, U.S. This acquisition was in line with the company’s growth strategy of becoming a global leader in the paints and coatings market.
In 2018, EPG AG announced that it has developed a colored sol-gel coating for aluminum parts used in the aerospace industry. This sol-gel coating is resistant to severe mechanical loads and has a consistent surface appearance.

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