smart coatings markets 2015-2022

n-tech Research Report

Smart Coatings Markets 2015 – 2022

Issue date: January 2015 Code: Nano-801

n-tech Research PO Box 3840 Glen Allen, VA 23058

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Report Description:

Smart coatings are coatings that dynamically adapt their properties to an external

stimulus and they are of growing commercial importance.

n-tech Research has been covering the smart coatings market for four years and believes

that the market opportunities for these materials has never been better. We see revenues

from these interesting materials increasing rapidly in key sectors of the economy including

construction, automotive, medical, consumer electronic goods and the military. These

are all market sectors where the “smartness” and functionality of materials – rather than

price – shape purchasing decisions.

This report assesses the latest technical developments in the smart coatings space. As

in previous n-tech Research reports, this report analyzes both the relatively mature

sectors of the smart coatings market (e.g., self-cleaning coatings), but in or 2015 report

we have also added coverage of newer areas such as smart multi-layer coatings and

smart coatings for air purification. The report also includes our latest take on

manufacturing; coating technology as it applies to smart coatings specifically.


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The report also includes highly granular eight-year forecasts for all of the main market

sectors where smart coatings are being – or will soon be – used. These forecasts are in

both volume (square meters) and value ($ millions) terms and for each end user sector

we include separate forecasts for all the main classes of smart coatings. The report also

contains a comprehensive analysis of product/market strategies and supply chain issues

in the smart coating space.

n-tech Research believes that this report will provide guidance to coatings and other

specialty chemical firms, as well as firms making production equipment, and others

planning to make investments in all kinds in smart materials.

Table of Contents Executive Summary E.1 Technology Evolving: The Business Impact of the New Smart Coatings E.1.1Self-Healing, Self-Assembling and Self-Cleaning Coatings: The Nanotechnologists’ Dream Fulfilled E.1.2 Smart Coatings for Smart Glass and Color-Shifting E.1.3 Other Coatings and Future Coatings E.2 The Next Markets for Smart Coatings E.2.1 The Future of Smart Coatings is in Electronics E.2.2 What’s Left for Smart Coatings in the Energy and Construction Sector E.2.3 Military and Healthcare: Standing Outside the Fray E.2.4 Smart Coatings in the Automotive and Transportation Sector E.3 Effective Competition in the Smart Coatings Space E.3.1 Smart Coatings Compete With Sensors and Smart Surfaces E.3.2 The Supply Chain versus the Innovation Chain E.3.3 Barriers to Growth in the Smart Coatings Market E.4 Summary of Eight-Year Smart Coatings Market Forecasts Chapter One: Introduction 1.1 Background to the Report 1.1.1 Smart Coatings: A Definition 1.1.2 What’s Next in Smart Coatings: Electronics Industry and the Internet-of-Things 1.1.3 What’s Left in Energy and Construction Sector 1.1.4 Moderate Growth Opportunities for Smart Coatings: Military and Healthcare 1.1.5 The Competition 1.2 Objectives and Scope of this Report 1.3 Methodology of this Report 1.4 Plan of this Report Chapter Two: Smart Coatings: Technical and Product Trends 2.1 Self-Healing Coatings 2.1.1 Current Products on the Market


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2.1.2 Technologies and Commercialization Directions in Self-healing Coatings: Embedded Capsules, Reversible Polymers and Shape Memory Materials 2.1.3 The Future of Self-Healing Coatings 2.2 Self-Assembling Coatings 2.2.1 Self-Assembly and Self-Stratification as a Way to Reduce Manufacturing Costs 2.3 Self-Assembled Monolayers 2.4 New Directions for Self-Assembling and Self-Stratifying Coatings 2.5 Self-Cleaning Coatings 2.5.1 Products and Commercial Trends for Self-Cleaning Coatings 2.5.2 Hydrophobic Coatings 2.5.3 Hydrophilic Coatings 2.5.4 Oleophobic Coatings 2.5.5 Towards Multi-Functionality in Self-Cleaning Coatings 2.5.6 Self-Cleaning Coatings: Products and Suppliers 2.6 Smart Coatings for Corrosion/Wear Resistance 2.6.1 The Dangers of Chromium VI 2.6.2 New Technical Directions for Smart Anti-Corrosion Coatings 2.6.3 Commercialization of Novel Anti-Corrosion and Wear Resistant Coatings 2.7 Smart Antimicrobial and Antifungal Coatings 2.7.1 Main R&D Trends in Antimicrobial Coatings 2.7.2 Smart Silver as an Antimicrobial 2.7.3 Hydrogels as an Smart Antimicrobial Coatings 2.7.4 Other Materials as Smart Antimicrobial Coatings 2.7.5 Making Smart Antimicrobials Smarter 2.8 Smart Anti-Fouling Coatings 2.8.1 The Downside of Copper 2.8.2 Smart Coating Alternatives to Copper for Anti-Fouling Applications: Main R&D Directions 2.9 Self-Dimming Coatings: Smart Windows 2.9.1 Electrochromic Coatings 2.9.2 Photochromic Coatings 2.9.3 SPD Coatings 2.9.4 Thermochromic Windows 2.9.5 PDLC 2.9.6 Supply Chain for Smart Windows 2.10 Color-Shifting Coatings 2.10.1 Applicable Technologies 2.10.2 The Downside of Color Shifting 2.10.3 A Case Study: The Exploration Tower at Port Canaveral 2.11 Pressure-Responsive Smart Coatings: Pressure-Responsive Paints 2.11.1 Key Products and Product Trends 2.12 Smart Optical Coatings and Metamaterials 2.12.1 Anti-Reflection Coatings 2.12.2 Transparent Conductive Coatings 2.12.3 Extreme UV Coatings 2.12.4 Metamaterials 2.13 Shape-Memory Coatings 2.14 Multilayer Smart Coatings 2.15 Smart Nanocoatings


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2.16 Manufacturing Innovations Impacting the Smart Coatings Sector 2.16.1 Impact of Printing Technology Advances on Smart Coating 2.16.2 Importance of Layer-by-Layer Self-Assembly 2.17 Key Points from this Chapter Chapter Three: Smart Coatings: Opportunity Analysis and Market Forecast 3.1 Forecasting Methodology 3.1.1 Forecasting Philosophy 3.1.2 Sources of Data 3.1.3 Economic Assumptions 3.1.4 Breakout by Materials Used 3.1.5 Uncertainties and Usefulness of Our Forecasts 3.1.6 Alternative Scenarios 3.2 Smart Coatings in the Construction Industry 3.2.1 Smart (Self-Dimming) Windows 3.2.2 Self-Cleaning Glass 3.2.3 Self-Healing Paints and Concrete 3.2.4 Anti-Corrosion Coatings and Antimicrobials 3.2.5 Forecast for Smart Coatings in the Construction Segment by Application and Material Type 3.3 Smart Coatings in the Energy Industry 3.3.1 Photovoltaics – Cleaner Glass and Anti-Reflective Coatings 3.3.2 Fuel Cells, Batteries, and Smart Coatings 3.3.3 Smart Coatings for Wind and Gas Turbines 3.3.4 Smart Coatings for Removal of Oil Slicks 3.3.5 Forecast for Smart Coatings in the Energy Generation Segment by Application and Material Type 3.4 Automotive, Aerospace and Marine Markets for Smart Coatings 3.4.1 Corrosion Sensing and Corrosion Control 3.4.2 Anti-Fouling Applications 3.4.3 Self-Dimming, Self-Cleaning, and Self-Deicing Windows and Mirrors 3.4.4 Self-Repairing Body Coatings 3.4.5 Smart Coatings in Braking and Suspension Systems 3.4.6 Smart Coatings for Lubricants 3.4.7 Smart Tires 3.4.8 Forecast for Smart Coatings in the Transportation Segment by Application and Material Type 3.5 Medical and Dental Applications for Smart Coatings 3.5.1 Drug Delivery Coatings 3.5.2 Anti-Microbial and Anti-Inflammatory Coatings 3.5.3 Diagnostic Sensing Coatings 3.5.4 Medical Uniforms and Medical Monitoring Garments 3.5.5 Forecast for Smart Coatings in the Medical Segment by Application and Material Type 3.6 Consumer Electronics and Computers 3.6.1 Anti-Scratch Materials 3.6.2 Self-Cleaning Displays 3.6.3 Other Touch-Screen Coatings 3.6.4 Pressure-Sensing and Haptic Coatings


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3.6.5 Forecast for Smart Coatings in the Consumer Electronic Segment by Application and Material Type 3.7 Smart Textiles and Clothing 3.7.1 Environmentally Responsive Textiles 3.7.2 Self-Cleaning Carpets and Fabrics 3.7.3 Fire-Retardant Textiles and Garments 3.7.4 Forecast for Smart Polymers in Smart Textiles by Application and Material Type 3.8 Military and Domestic Security Markets for Smart Coatings 3.8.1 Camouflage 3.8.2 Smart Coatings for the Detection of Toxic Substances 3.8.3 Uniforms 3.8.4 Naval Anti-Fouling 3.8.5 Forecast for Smart Coatings in the Military Segment by Application and Material Type 3.9 Summary Forecasts 3.9.1 Summary by Application Acronyms and Abbreviations Used In this Report About the Author List of Exhibits Exhibit E-1: Eight-Year Revenue Forecast for Smart Coatings by Industry ($ Millions) Exhibit 2-1: Early Commercialized Self-Healing Coatings Exhibit 2-2: Major Research Initiatives and Trends in the Self-Healing and Self-Repairing Coating Segment Exhibit 2-3: Notable Companies and Products in the Self-Assembling, Self-Organizing and Self-Stratifying Segment Exhibit 2-4: Major Research Projects on Self-Assembling and Self-Stratifying Coatings and Their Future Impact Exhibit 2-5: Players and Products in the Self-Cleaning Windows Space Exhibit 2-6: Self-Cleaning Windows Firms: Comparative Listing Exhibit 2-7: Notable Companies, Products, and Trends in the Self-cleaning Surfaces Segment Exhibit 2-8: Notable Companies, Products, and Trends in the Corrosion and Wear Resistant Segment Exhibit 2-9: Antimicrobial Coating Products and Their Applicability Exhibit 2-10: Major Research Projects and Trends in the Antimicrobial/Bioactive Coatings Segment Exhibit 2-11: Comparison of Smart Windows Materials and Technologies Exhibit 2-12: Key Trends in Pressure-Responsive Smart Coatings Exhibit 3-1: Approximate Share of Different Types of Smart Coatings in Each Application – 2015 Exhibit 3-2: Potential Applications for Smart Coatings in the Building Construction Markets Exhibit 3-3: Eight-Year Forecast of Electrochromic Window Coatings in the Construction Sector Exhibit 3-4: Eight-Year Forecast of Other Self-Dimming Window Coatings in the Construction Sector Exhibit 3-5: Eight-Year Forecast of Self-Cleaning Coatings in the Construction Sector Exhibit 3-6: Eight-Year Forecast of Corrosion-Prevention Coatings in the Construction Sector Exhibit 3-7: Eight-Year Forecast of Self-Healing Coatings in the Construction Sector Exhibit 3-8: Potential of Smart Coatings in Key Energy Generation Applications


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Exhibit 3-9: Eight-Year Forecast of Fuel-Cell Coatings in the Energy Generation Sector Exhibit 3-10: Eight-Year Forecast of Self-Cleaning Coatings Used in Solar Energy Applications Exhibit 3-11: Eight-Year Forecast of Self-Cleaning/Corrosion-Prevention Coatings used in Wind Energy Applications Exhibit 3-12: Eight-Year Forecast of Smart Coatings for Oil Slick Removal Exhibit 3-13: Potential of Smart Coatings in Key Automobile Applications Exhibit 3-14: Eight-Year Forecast of Self-Healing Coatings for Automotive Applications Exhibit 3-15: Eight-Year Forecast of Self-Dimming Coatings used in Aircraft Exhibit 3-16: Eight-Year Forecasts of Self-Dimming Coatings used in Automotive and Public Transportation Exhibit 3-17: Eight-Year Forecast of Smart Sensing Coatings used in Aircraft Exhibit 3-18: Eight-Year Forecast of Smart Antifouling Coatings for Marine Applications Exhibit 3-19 Eight-Year Forecast of Smart Lubricant Coatings for Automotive Applications Exhibit 3-20: Eight-Year Forecast of Smart Tire Coatings for Automotive Applications Exhibit 3-21: Potential of Smart Coatings in Key Medical Applications Exhibit 3-22: Eight-Year Forecast of Smart Coatings for Drug-Delivery Exhibit 3-23: Eight-Year Forecast of Antimicrobial Coatings in Medical Applications Exhibit 3-24: Eight-Year Forecast of Smart Medical Uniform Coatings Exhibit 3-25: Potential of Smart Coatings in Key Consumer Electronics Applications Exhibit 3-26: Eight-Year Forecast of Anti-Scratch Coatings for Consumer Electronics Applications Exhibit 3-27: Eight-Year Forecast of Touch-Screen Coatings for Consumer Electronics Applications

Exhibit 3-28: Eight-Year Forecast of Pressure-Sensing Coatings for Consumer Electronics Applications Exhibit 3-29: Potential of Smart Coatings In Key Textile and Clothing Applications Exhibit 3-30: Eight-Year Forecast of Environmentally Responsive Textile Coatings Exhibit 3-31: Eight-Year Forecast of Self-Cleaning Textile Coatings Exhibit 3-32: Eight-Year Forecast of Flame-Retardant Textile Coatings Exhibit 3-33: Eight-Year Forecast of Corrosion-Resistant Coatings for Military Applications Exhibit 3-34: Eight-Year Forecast of Camouflage Coatings for Military Applications Exhibit 3-35: Eight-Year Forecast of Biosensing Coatings for Military Applications Exhibit 3-36: Eight-Year Forecast of Smart Coatings for Military Uniforms (other than camouflage coatings) Exhibit 3-37: Eight-Year Forecast of Naval Antifouling Coatings Exhibit 3-38: Eight-Year Revenue Forecast for Smart Coatings by Industry and Coating Type ($ Millions)


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Chapter One: Introduction

1.1 Background to the Report

1.1.1 Smart Coatings: A Definition

Smart coatings have no firm definition and are sometimes taken as no more than another—more hyperbolic—way of saying “functional coatings.” Included in this “functional coatings” category are coatings that can change in response to an external stimulus, such as light, electric current, pressure, etc. Also included are coatings that are specifically intended to stand up to extreme conditions and therefore respond by not responding.

Why smart coatings are like supercomputers: This definition of functional coatings therefore covers a huge range of materials and n-tech Research believes that, from the perspective of carrying out an opportunity analysis, a better definition would be one in which we define smart coatings as those that are at the leading edge in terms of their functionality.

In other words, smart coatings are smart in the same way that supercomputers are super. This is a shifting definition; supercomputer power from a decade ago can now be found in an iPhone. Similarly, some years back we might have included the transparent conductor ITO in a list of smart materials, but ITO would seem out of place in such a list today. These days, smart coatings are about self-healing coatings, self-cleaning coatings, etc.

1.1.2 What’s Next in Smart Coatings: Electronics Industry and the Internet-of-Things

In the smart coatings report that n-tech Research published in 2013, we predicted that the next opportunity for smart coatings would be found in the electronics sector. In fact, we have an even more favorable view of the commercial potential for smart electronics coatings this year, because of the rise of the so-called Internet-of-Things (IoT), as well as the trends in electronics coatings sector that we noted in 2013.

Again, as we discuss more below, we think the bloom is off the “green” energy rose and the manufacturers of smart coatings will be looking for better opportunities. n-tech Research thinks they may well find it in the electronics market.

Smart coatings and the IoT: The idea behind the IoT is that—using embedded sensors and processors—buildings, appliances, machines and objects more generally will become more responsive to human needs in both personal and professional environments. The goal here is the same one that has motivated automation since the beginning; to free up time, so that people can do what they would rather be doing.


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At the present time, the IoT is usually presented as consisting of networks of Internet-connected sensors, and multiprocessing units (MPUs). Smart materials such as coatings are hardly mentioned in current IoT literature.

Nonetheless, n-tech Research believes that smart coatings in the IoT would be a perfect fit. For example, self-cleaning and self-repairing coatings couldn’t be better suited to the IoT philosophy; what could be more convenient and save more time than surfaces that clean and repair themselves? And that is something that sensors in the usual meaning of the word can’t do.

Smart coatings may do more than just complement sensors in the IoT. They can compete with IoT sensors directly since some stimuli-responsive coatings can act directly as a sensor. A smart coating that is also a sensor would likely be a more cost effective way to create a wide-area sensing panel than a large array of sensing devices.

Other electronics opportunities: n-tech Research believes that the electronics industry is now one of the largest potential consumers of smart coatings. Smart coatings developed for electronics applications can be formulated to offer multiple functionalities.

We also think that smart coatings opportunities in consumer electronics in particular will attract investment, primarily because the addressable markets are so large. In this context, one area that n-tech Research believes will be of especial importance commercially will be protective smart coatings for smartphone users. These will protect devices from hydrolytic, yellowing, and chemical effects.

Self-healing coatings are also most likely a class of smart coatings that will generate revenues in the electronics sector. A couple of examples here:

Waterborne polyurethane dispersions have been shown to conveniently realign themselves to fill in scratches, primarily due to the elastically reversible hydrogen bonds formed between the polymer chains in the coating binder. These would seem to have applications in the consumer electronics space, although the demand has certainly yet to be proved.

Bayer’s Bayhydrol coating is being targeted at a more “proven” market. It can be conveniently incorporated into the mass production lines in the electronics industry, ensuring that sensitive displays are protected from damage during the milling process. These temporary coatings, which can be peeled off once they serve their purpose, are meant to protect touch screens against damage from dust and other chemical and mechanical agents.


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1.1.3 What’s Left in Energy and Construction Sector

Understandably, much of the market emphasis in the smart coatings space over the past decade has been on coatings that have targeted the needs of “green” buildings, sustainable energy, etc. So much money was being poured into this space that it made sense for smart coatings firms to target their products at the energy and green building sectors.

However, as we enter 2015, the decline in oil prices has not only taken the steam out the energy efficiency story but threatens to curb the resurgent green tech sector where, for example, self-healing and self-cleaning coatings seemed to have viable applications.

n-tech Research's current thinking is that from the perspective of the smart coatings business, energy and construction markets will be a mixed bag. On a positive note, no one seems to be seriously suggesting a big slump in building and we can be reasonably certain that most governments will try to manage the money supply so that this doesn’t happen. The exception here may be in China where the construction industry seems to have seriously overbuilt.

That said, n-tech Research expects that many of the incentives provided for green building may quietly disappear and this may mean that providing a special focus on this sector—self-cleaning coatings for solar panels for example—no longer makes much sense. There is again an exception here. In this case it is Japan, where solar is having something of a revival at the moment.

But solar is not the only problem here. n-tech Research also believes that market opportunities are going to be limited in the oil and gas sector, too. If the era of high oil prices is waning, we should expect that the smart protective coatings that in the past have been sold to gas and oil firms looking for new wells and deposits to see a decline.

All this raises the issue of how smart coatings firms will reposition their product ranges in the near future to minimize the growing business risks associated with energy and “green.”

Smart windows: In some cases, this is fairly obvious—a protective coating for a wind generator can be fairly easily turned into something else. A more interesting (i.e. difficult) problem is in the smart windows space. Smart windows are an iconic smart coatings product and have largely been sold based on some kind of energy efficiency story.

This may have to change. Instead, we think the business development thrust in the smart windows space in the future is going to have to appeal to quality of light, aesthetics, privacy and mood. Interestingly, this is exactly the same marketing direction that smart lighting is currently taking and for much the same reasons that we think will impact the smart windows business.


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1.1.4 Moderate Growth Opportunities for Smart Coatings: Military and Healthcare

While much of the market activity in the smart coatings space may well be characterized by a shift from “green” to electronics, n-tech Research believes that there are still plenty of opportunities for smart coatings that stand outside the fray. Many (but not all) of these moderate growth opportunities fall into the military and healthcare sector and some of the most attractive include the ones reviewed below.

Smart antimicrobial coatings: Smart coatings for use as antimicrobial agents are extending beyond medical uses to the food, textile, and residential segments. As a result, n-tech Research sees the addressable market for smart anti-microbial coatings growing.

We also see this as an area where the technological options are expanding. Antimicrobial coatings have typically been based on the sustained release of silver ions. However, n-tech Research believes that other smart antimicrobial coatings that work via physical mechanisms leading to the destruction of the thin cell walls of microbes may prove more effective in the future.

Innovative drug delivery agents: The majority of smart coatings that are meant to trigger automatic drug release based on an external stimuli are still in the research phase and there is uncertainty over the commercial release of such advanced drug delivery systems in the immediate future. Since such coatings will have to pass through many more tests than other types of smart coatings, there is also additional business risk in this market segment.

That said, there are some interesting developments in this space and new coatings of this type can plug into the demand from aging populations in the developed countries. Among the developments we see in this area that appear to meet a real need are bio-adhesive coatings that offer controlled drug release for the prevention of drug overdoses in critical situations.

Anti-corrosion coatings in the military: The military seems likely to continue to be an attractive market (and funding source) for smart coatings. As n-tech Research sees it, the military is likely to be especially interested in anti-corrosion coatings.

What stands out in this regard are new smart coatings designed to protect galvanized steel and aluminum surfaces. In this context, we anticipate that military markets will be examining closely the ability of such smart coatings to extend the service life, reduce operational costs, and improve the chemical resistance of metal structures relevant to military applications; this will lead to the adoption of these materials for other related military applications in the medium term.


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Self-stratifying coatings in the automotive sector: Labor and material costs involved in the application of a second coating on automobiles has been an issue in the industry for some time. As a result, self-stratifying coatings that are able to form multilayer films from a single coating system are gaining prominence in the automobile industry, which is looking to cut operating expenses.

Given the potential of self-stratifying coatings to offer multiple advantages, such as enhanced mechanical strength, wear resistance, and adhesion performance with minimal operational hassles and reasonable costs, n-tech Research believes that such coatings will garner higher demand in the automotive market in the near-to-medium term and their use may be extended to markets outside of the automotive sector.

1.1.5 The Competition

As the examples given above suggest, there appear to be significant opportunities for smart coatings going forward. However, n-tech Research notes that in many cases the factors that are driving smart coatings markets are also good news for competitive products.

For example, in the IoT space with which we began, arrays of individual sensors are certainly a close substitute for some smart-coated substrates, although we would not be surprised if sensor arrays turn out to be more expensive than coatings.

And smart coatings have an even closer competitor in the form of smart surfaces, which can achieve many of the same effects as smart coatings, but through nano-patterning surfaces. Smart surfaces are only beginning to be commercialized and smart coatings have a head start. But increasingly all the market sectors in which smart coatings play will see penetration from smart surfaces too.

Smart coatings, as we see it then, will have plenty of opportunities. But also plenty of competition.

1.2 Objectives and Scope of this Report

This report identifies and quantifies the opportunities, challenges, and prospects for growth in the smart coatings market. Specifically, it covers smart coating technologies, emerging markets and applications, supply chain dynamics and leading firms, and other growth drivers and presents our eight-year forecast for the smart coatings market. For the purposes of this report, we have adopted the definition of smart coatings explained at the beginning of this chapter where we essentially adopted the view that “smart coatings,” are leading-edge functional coatings.

n-tech Research has been providing industry analysis of the smart coatings market for more than five years and is a leading supplier of analysis in this space. This report is the


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latest n-tech Research report on opportunities in the smart coatings market with respect to material choices and applications. The goal of this report is to analyze and forecast the prospects for smart coating applications and materials choices in the coming eight years.

Because smart coatings are used in such a wide variety of applications, the scope of the report has been limited to applications with the greatest market potential over the forecasting period of this report. In addition, the report is written with a focus on existing and emerging technologies that are close to commercialization.

n-tech Research believes that smart coatings will continue to proliferate as prices come down and functionality improves. The key growth drivers are the lower cost of ownership in price-sensitive markets and novel functionality in price-insensitive segments. There are opportunities for growth in all market segments reviewed in the report—medical, military, energy, transportation, electronics, and construction.

By reviewing emerging smart coatings technologies across a variety of applications, we show where new business revenues can be created and existing smart coatings can find new markets in the next eight years, and present our forecasts by application and material or functionality.

While we have avoided discussing ultra-futuristic smart materials, we have examined what the commercial implications might be for some of the newest materials that can be adapted as smart coatings.

1.3 Methodology of this Report

This report is based on n-tech Research' ongoing industry research in the area of smart coatings and related materials. Keeping pace with the dynamically changing technological environment, n-tech Research has not only considered the mainstream applications of diverse types of smart coatings, but also investigated niche and upcoming application areas that have promising growth potential for smart coatings.

The information in this report comes from a variety of sources, but principally comes from primary interviews with insiders in the field of smart coatings commercialization.

Secondary research was based on a variety of sources, such as information available on the World Wide Web, technical journals, press releases, trade press articles, government databases, company literature, and SEC filings and used to further elucidate major trends in the smart coatings market.

The forecasting approach taken and the assumptions made when preparing the forecasts in this report are explained in more detail in Chapter Three, but the basic approach taken here was to identify and quantify the underlying addressable markets, the penetration of


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various smart coating technologies in those markets, and how other market elements may impact the growth in demand for smart coatings.

In addition, some of the data for this report comes from the previous n-tech Research report "Smart Coatings Markets—2013" (February 2013). Whenever information has been used from an earlier report, we have reinvestigated, reanalyzed, and reconsidered it in light of the current market status.

This report is entirely international in scope. The forecasts are worldwide forecasts, but we have broken them out by geography in appropriate ways.

Other than this we have not been geographically selective in the firms that we have covered in the report or interviewed in order to collect information. However, a certain degree of emphasis has been placed on the developed world, because most of the research around smart coatings is pursued in the developed world. The firms and research discussed in this report were selected by importance, not by location.

1.4 Plan of this Report

Chapter Two presents an overview of the emerging materials and research trends across the various smart coating applications highlighted in this report. It covers both work done in the private sector at large and small companies and military research. Where applicable to commercialization, university research is also discussed. A special focus is placed on the value proposition of the coatings.

Chapter Three broadly discusses the state of the smart-coatings end-use markets and where they are heading. This chapter is segmented by application, and the emphasis is on the largest opportunities, which are not necessarily the largest markets. Simultaneously, this chapter also provides our eight-year forecasts for the smart coating technologies and applications that are discussed in the report.