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Sol-Gel Coatings Market

Sol-Gel Coatings Market

Sol-Gel Coatings Market Share & Trends Analysis, By Product (Wear-resistant, Photocatalytic Self-cleaning, Corrosion-resistant Sol-Gel Coatings), By Application (Automotive, Aerospace, Biomedical Sol-Gel Coatings) & By Region - Global Insights 2021-2031

Sol-Gel Coatings Market
FACT6403MR

Market Outlook for Sol-Gel Coatings

According to Fact.MR’s sol-gel coatings industry survey, the global market was valued at US$ 2.5 Bn in 2020, and is projected to expand 2X to top US$ 5 Bn by 2031. The market is predicted to witness significant growth owing to rising application in construction, electronics, communications, optical devices, automotive, and biomedical.

Growing infrastructure, which needs corrosion protection, increasing technological advancements, and modernization in the production techniques of sol-gel coatings are key factors expected to drive market growth at a CAGR of above 10% across the 2021-2031 forecast period.

Sol-Gel Coating Sales Analysis from 2016-2020 Vs Future Demand Outlook for 2021-2031

As per Fact.MR – a market research and competitive intelligence provider, over the last 5 years, the global market for sol-gel coatings expanded at close to 5% CAGR. Sol-gel coatings are widely employed as protective coatings on automobile surfaces, and, as such, increasing automotive production and sales will ultimately drive industry growth. In 2020, the global market for sol-gel coatings was valued at around US$ 2.5 Bn.

Strong product demand from end-use industries such as electronics, automotive, and medical, among others, has led to industry growth in North America. Furthermore, Europe's developing aerospace, automotive, and healthcare industries are projected to gain considerable portion of the market in the near future. This, in turn, creates an ideal environment for the sales of sol-gel coatings across the world, and the market is expected to top a valuation of US$ 5 Bn by 2031.

Which Industries are Lucrative End Users of Sol-Gel Coatings?

Sol-gel coating demand is projected to be high from the optical and optomechanical industry, particularly in the macroscopic and active optical components sectors. Using the sol-gel manufacturing approach, these components, as well as large area hot mirrors, cold mirrors, lenses, and beam splitters can be manufactured swiftly with high optical geometry and purity.

The passive and nonlinear active waveguides and lasers sectors further drive market demand, since this technology is used to make indium tin and oxide thin films for low-cost solar photovoltaic applications.

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Which Factors are Stimulating Demand for Sol-Gel Coatings?

Various properties can be achieved using sol-gel technology, such as hydrophobic, oleophobic, anti-microbial, protective transparency, corrosion resistance, and conducting or non-conducting surfaces. These factors are projected to drive sol-gel processing market growth over the forecast period.

Sol-gel processing market can be categorized based on application into protective coatings, thin films and fibers, nano-scale powders, optomechanical, and medicine. Highest sol-gel application can be found in the coatings and thin films industry, where films are formed on a piece of substrate by spin or dip coating.

Which Region Offers the Largest Opportunity for Sol-Gel Coating Manufacturers?

North America accounts for around 30% of the global market share, and was valued at above US$ 750 Mn in 2020. This regional market is expected to reach around US$ 1.3 Bn by 2031-end. The aerospace industry's increased demand for sol-gel coatings is driving demand for sol-gel materials in the United States.

The region's demand for sol-gel products is projected to be driven by increased focus on downsizing of electronic devices and substantial growth of the biomedical industry.

sol gel coatings market by FactMR

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Country-wise Analysis

What are the Opportunities for Sol-Gel Coating Manufacturers in China?

China is forecast to reach a projected market size of above US$ 830 Mn by 2031.

Rising applications can be attributed to several advantages of sol-gel coatings over conventional materials and chemicals, such as low synthesis temperature and higher purity of end product. Technological novelty lends this material a distinct advantage in terms of lower capital costs and massive market potential, presenting various opportunities for development in China.

Why is the U.S. Expected to Drive Most Demand for Sol-Gel Coatings?

The sol-gel coatings market in the U.S. was valued at around US$ 700 Mn in 2020. The market in the country is expected to progress at around 6% CAGR from 2021 to 2031.

In the United States, self-cleaning window glass with a millimeter sol-gel titanium dioxide coating is widely used in commercial buildings. Titanium dioxide photocatalyst actively decomposes undesirable odours, poisons, chemical, and biological contaminants, and microorganisms such as bacteria and fungi when exposed to UV radiation. Furthermore, titanium dioxide acts as a wetting agent, amplifying the washing mechanism of natural rains.

Category-wise Insights

Why are Wear-resistant Sol-Gel Coatings So Prominent in the Market?

The wear-resistant sol-gel technique is appealing because it is simple to use and inexpensive, resulting in multi-functional, protective surfaces. This is because silica-based coatings, particularly hybrid inorganic-organic silicas, have a unique structure and characteristics. Ever-increasing demand coupled with advancements in the technology in the automotive and aerospace industry is likely to drive demand for wear-resistant sol-gel coatings.

Sol-gel coating vendors should focus on grabbing business opportunities from the wear-resistant segment, as it accounted for the largest market share in the base year. Wear-resistant sol-gel coatings is expected to be the leading segment based on product through 2031.

Why Do Sol-Gel Coatings Witness High Demand from the Biomedical Industry?

Sol-gel is used in biomedical applications to cover metal implants and as a significant bone grafting medium. Sol-gel carriers are also used in biomedical applications for long-term medication delivery, resulting in faster wound healing. The global industry is divided into four categories based on processing technology: spinning, precipitating, gelling, and coating.

Over 40% of sol-gel coating sales are driven by biomedical industries. For most materials, sol-gel processing is more convenient than alternative processes, which can be difficult to operate at room temperature. As a result of increased manufacturing of biomedical devices, demand for sol-gel coatings from the biomedical device industry is expected to rise significantly throughout the forecast period.

How Has COVID19 Impacted Revenue Generation from Sol-Gel Coatings?

COVID-19 has had an impact on the overall market and the growth rate in 2019-2020. As the pandemic continues to expand, industries all over the world are utilizing innovation to gradually level their recessionary bend.

Many organizations will go through stages of reaction, rehabilitation, and restoration. Building business flexibility and empowering dexterity will assist industries in moving past the COVID-19 emergency and into the next normal. 2021 is projected to be better, with the market regaining its original traction by 2022.

Competitive Landscape

The global sol-gel coating products market is moderately fragmented, as the market share is divided between many players. Key players in the landscape include 3M, Akzo Nobel NV, Ferro Corp., Henkel AG and Co. KGaA, Mitsubishi Materials Corp., and SCHOTT AG.

  • In 2019, EPG AG launched 'Saphiral,' a new sol-gel coating method for sensitive aluminium surfaces in the kitchen. This coating is expected to offer excellent protection to surfaces against scratches and chemical attacks by acids and alkalis.
  • In 2021, manufacturers are focusing on strategic growth efforts such as mergers and acquisitions, new product launches, and agreements to expand their market position and fulfil growing demand from the automotive glass, healthcare, construction, and marine sectors.

Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Brazil
  • Mexico
  • Argentina
  • GCC
  • South Africa

Key Market Segments Covered

  • Product
  • Application
  • Region

Key Companies Profiled

  • 3M
  • Akzo Nobel NV
  • Ferro Corp.
  • Henkel AG and Co. KGaA
  • Mitsubishi Materials Corp.
  • SCHOTT AG
  • SOCOMORE SASU
  • Solvay SA
  • Axalta Coatings Systems Ltd.
  • CCM GmbH
  • Nanovations Pvt Ltd.
  • DowDuPont
  • Chase Corporation
  • KISCO
  • MG Chemicals

Pricing

Available upon Request

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

- FAQs -

The global sol-gel coatings market is worth around US$ 3 Bn at present, according to Fact.MR’s research study.

Sales of sol-gel coatings are projected to rise at a CAGR of over 10% during 2021 – 2031 forecast period.

Value sales of sol-gel coatings increased at a CAGR of close to 5% during 2016 – 2020.

Besides being driven by increasing demand from end-use industries, innovative features of sol-gel coatings is a key trend being observed in the market.

Over the forecast period, the biomedical industry is likely to be a major driver for the demand for sol-gel coatings.

Top 5 manufacturers of sol-gel coatings account for around 60% share in the global market.

Top 5 countries driving demand for sol-gel coatings are China, France, the U.S., U.K., and Germany.

North America accounts for around 30% of global sol-gel coating demand, and will continue to flourish over the years ahead.

The European market for sol-gel coatings is projected to expand at a CAGR of more than 6% during 2021 – 2031.

China and the U.S. are key producers of sol-gel coatings.

The market in South Korea and Japan is set to expand at around 3% CAGR each, with both countries together accounting for more than 1/3 share in the East Asian market.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

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