slides from smart coatings webinar

Smart Coatings Markets 2016 -2025An n-tech Research Webinar

August 2016

n-tech Research PO Box 3840 Glen Allen, VA 23058Email: [email protected]

Web: www.ntechresearch.com1

About n-tech Research

n-tech Researchn-tech Research PO Box 3840 Glen Allen, VA 23058 Email: [email protected]

Web: www.ntechresearch.com

• The rebrand of industry analyst firm NanoMarkets founded back in 2004

• Specialization in analyzing and forecasting market opportunities arising from advances in and

application of advanced materials. Special focus on functional and smart materials and coatings and

their impact on markets

• Provide full length market reports, focused subject matter analysis and individualized consulting

engagements with emphasis on providing customer focused analytical content solutions

• Global client roster ranging from top tier multinational firms to start ups, research institutes and

technology transfer offices

• Founders have decades of experience in producing analysis of emerging technologies and markets

2

n-tech Research

PO Box 3840 Glen Allen, VA 23058

Phone: 804-938-0030

Email: [email protected]


Smart Coatings Markets 2016-2025

This 250-page report analyzes the markets for smart coatings in key sectors of the economy including construction, energy,aerospace, automotive, marine medical and healthcare, consumer electronics, textiles and the military. Coverage includes smartcoatings with the functionality to self-heal, self-clean, de-ice, combat corrosion and marine fouling, reduce drag in transportation,enable smart (self-dimming) windows, combat resistant microbes and color shift, etc. The report also explores the role of smartcoatings in futuristic developments such as smart skins and structural health monitoring.

In addition, this report provides analysis of the latest developments in R&D in emerging areas such as microencapsulated and nano-vascular self-healing coatings, superhydrophobic and superhydrophilic coatings, and smart polymers. n-tech believes that innovationin these areas will produce a slew of new start-ups and interest from venture capitalists. This report also focuses on the latestdevelopments in formulating and depositing smart polymers, especially the ability of manufacturing processes in this area to scale up.

The report also provides detailed eight-year forecasts in both volume (square meters) and value ($ millions) terms. For each end-usersector the report includes separate forecasts for all the main classes of smart coatings.

Also included are discussions of the product market strategies of the firms that are currently shaping the smart coatings market.These include some of the biggest firms in the coatings and specialty chemicals space such as 3M, AkzoNobel, BASF, Dow, DSM,DuPont, other large multinationals such as Corning and GE and the latest startups.

About the Report

n-tech ResearchPO Box 3840 Glen Allen, VA 23058

Phone: 804-938-0030



n-tech Research PO Box 3840 Glen Allen, VA

23058



• Smart materials

• Size of the market for smart coatings

• Factors driving and retarding the smart coatings market

• Future revenues from smart coatings

• Firms to watch in the smart coatings space

Topics for today


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What is a smart material?


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Species Examples What makes species smart? Status

Highly functional materials

ITO replacementsFunctional inks

Most functional of the functional

Running out of steam?

Smart coatings Self-healing coatingsSelf-cleaning coatingsElectrochromic coatings

Stimulus-responsefunctionality in a coating

Some products (e.g. electrochromic or self-cleaning windows) relatively mature. Butcompetitive advantage in (1) higher performance and (2) autonomic performance. Well-defined product category

Smart structures Shape memory materialsPiezoelectric materials

Stimulus-response functionality in a film, sheetor other “structure”

Piezoelectric materials are mature. But important new developments in SHM, smart skins and “morphing”

“Artificial matter” Smart compositesMetamaterials

Innovative design. Goal is “programmable matter”

Composites have already been key enabler in aerospace. Provide entirely new functionality such as “cloaking.”

Biomaterials Smart antimicrobials and antifungals

Biological phenomenaBiomimetics

Smart biomaterials are an emerging phenomenon but may be related to other types of smart materials listed above

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Smart materials: Technology context


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SMART MATERIALS

Functional Printing

Patterning

3D Printing

Nanotech

Embedded Sensors

IoT and wearables

“Smarts” with

everything

Multi-functionality

Programmable matter

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Total worldwide market for smart coatings: 2016 - 2025


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0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

$ M

illio

ns

© n-tech Research 2016

Total Market for Smart Coatings 2016-2025


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Factors promoting smart coatings opportunities


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Factor Examples Impact on Business Case for Smart Coatings

“Smart” is in“Smart” has become a descriptor applied to numerous

products and supposedly adds to their marketability

The “smart” in “smart coatings,” used to have a technical

meaning, but now conveys a positive marketing message. We

see “smart” as the new “green,” a buzz about them in the way

that sustainable coatings once did.

Nanotechnology

meets smart

coatings

Nanomaterials playing an increasing role in making

coatings smarter. Self-assembly is claimed as part of

nanotechnology and as part of smart of smart

materials. Are smart coatings taking over where

nanotechnology left off?

Nanotechnology speeds up or otherwise positively enables

chemical processes. In the sense that “smart” is used in “smart

coatings,” nanomaterials may make coatings “smarter and

therefore open up new addressable markets

Performance of

smart coatings

improves

We are now shifting to high-performance smart

materials that are different qualitatively than what has

been available before.

These coatings are the ones that are grabbing the attention of

chemical firms and investors. No longer just alternatives to

conventional coatings but something new under the sun.

Smart meets

manufacturing

Scalable manufacturing of smart coatings products is

an important part of commercialization. But smart

materials may also play a role in the actual coatings

process. The obvious example here is a coating that

self-assembles

Lowering the cost of manufacturing and making it simpler will

be a critical part of getting a smart coating deployed in the

market place


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Smart coatings evolution


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GenerationPeriod of

dominance Main characteristics Type Applications

Gen 1 2000 until now

Low-performance, short-

lived. Marginal advantages

over non-smart alternatives

Often self-cleaning coatings or

anti-scratch coatings with

minimal self-healing

applications

Cars and residential

windows are often

market targets

Gen 2 2012 onwards

Good performance and

lifetimes and serious

alternatives to more

conventional coatings

Smart self-cleaning coatings

for large prestige buildings,

smart anti-corrosion coatings.

Also, many multifunctional

coatings

Aircraft and marine

vessels. Medical

applications

Gen 3 2018 onwards Outperform all previous

coatings

New kinds of coatings such as

omniphobic coatings and

multifunctional coatings with

two or three functionalities

All applications that

need premium priced

coatings


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Factors holding back the development of the smart coatings market


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Issue Description Likely Resolution Timeframe

Absence of accepted

manufacturing procedures

Many different manufacturing procedures being tried

out, with concerns about scalability in most cases

Versions of well-established manufacturing

procedures would be established. New

manufacturing procedures may rise and fall,

although we do see potential in self-assembly

2-5 years

Use of exotic materials

Many R&D efforts in this space use exotic materials

that are expensive and cannot be acquired in large

amounts

Move to more conventional materials. This is easier

said than done and will form a major direction for

chemical companies in the short term. n-tech

believes that nanotechnology will help considerably

in this area

3-10 years

Apparent lack of interest by

large coatings and specialty

chemical firms

The claim by small firms is that large coatings firms

are not developing smart coatings business at a

rapid enough rate and that these larger firms could

speed up development by licensing from or acquiring

smaller coatings firms

It seems reasonable to assume that there will be

some kind of resolution of this concern once a large

coatings firm actively focuses on smart coatings as a

business unit

1-3 years

Performance lags in smart

coatings

Many potential markets for smart coatings appear to

be looking for long lifetimes or the ability to offer high

performance functionality – a self-cleaning coating

that actually cleans

Improved formulation of resins and additives A continual

ongoing process


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Smart coatings: Major product classes -2021


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Revenues ($ Billions) Share of total market (%)

Self-cleaning 1.7 21.2

Smart antimicrobials 1.3 16.3

Anti-icing 1.0 12.5

Anti-corrosion 0.9 11.3

Self-healing 0.6 7.3

Electrochromic 0.6 7.3


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Smart coatings markets by end-user sector -2021


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Revenues ($ Billions) Share of total market (%)

Automotive 1.7 20.9

Construction 1.5 18.8

Energy 1.4 17.5

Military 1.2 15.3


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Firms to watch in the smart coatings space


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Company Why it should be watched

3M

Seems well positioned to be a force to be reckoned with in the smart coatings space, primarily because of its size and because

the end user segments that it serves well are exactly those that n-tech believes are where smart coatings will generate

significant revenues

BASF/AkzoNobel

Has a traditionally had a very broad range of involvements that are directly related to smart coatings including smart

antimicrobials, electrochromic materials, de-icing materials, color shifting and protective coatings for wind turbines. Also has a

reputation for investing in new technologies at a relatively early stage – illustrated by its investment in SLIPS Technologies.

However, we note that BASF has just sold off its industrial coatings business to AkzoNobel, which will no doubt impact its

strategy in the smart coatings business.

DowDuPont

Specialty Products

Although still formulating it will have the market power to influence smart coatings as a serious product type within the coatings

segment. Neither Dow nor DuPont appears to have done much in this space yet, but potentially they could shape the market

PPG

Much like BASF, PPG has numerous involvements in areas related to smart coatings. These include self-cleaning, corrosion

resistance, antibacterial, de-icing, electrochromism, anti-fouling and others. PPG is the largest coatings firm in the world and

has made quite a few acquisitions in the past few years. PPG might be a potential acquirer of smaller firms that have focused

on smart coatings for this reason

SLIPS

Technologies

A start-up that is a spinoff from Harvard and has developed an omniphobic coating with help from BASF. While we are not in

any way endorsing this coating per se, we think that SLIPS will be a model for other starts up to come

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Metamaterials Markets: 2016-2025

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