International. The global smart coatings market will grow from $363 million in 2013 to nearly $3 billion in 2018, according to a new report from NanoMarkets.
The report, "Global Smart Coatings Market, 2013-2020," notes that due to their ability to respond quickly to external stimuli or withstand extreme environments, smart coatings are finding new applications in various industry sectors, including construction, energy, automotive, medical, consumer electronics, and military.
NanoMarkets believes 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 more for functionality such as scratch resistance or higher energy efficiency will also be important.
