The rapid expansion of the construction and building industry will increase demand for paints and coatings, thus driving the market for Sodium Silicate Based Coatings. Besides, the rise in the automotive sector would boost demand for products centered on Sodium Silicate Based Coatings.
Sodium Silicate Based Coatings Market Size – USD 11.05 Billion in 2019, Growth - CAGR of 6.8%, Trends – High demand from developing nations.
The global Sodium Silicate Based Coatings Market is forecasted to reach USD 18.78 Billion by 2027, according to a new report by Reports and Data. Sodium Silicate Based Coatingss are also ionic in most cases and are usually charged negatively to facilitate aqueous interaction. After being added to a substratum, such items identify a type of material that is wet-able, lubricating, and ideal for tailor-made biological activity, thereby boosting industry production. Medical coating class finds its extensive use in advanced applications such as the delivery of drugs and organic interaction. Chemical contact between drugs and surface finish is not constant and involves testing to represent functional groups, charges, and intensity among respondents.
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Top Companies: BioInteractions Inc., Koninklijke DSM, Surface Solution Group, Surmodics, Telefax Inc., Aculon Inc., Applied Medical Coatings, Hydromer Inc., Corning Incorporated, and Surmodics Incorporated, among others.
Further Key Finding from the Report Suggestion:
- Based on the substrates, nanoparticle substrates generated a revenue of USD 01.82 billion in 2019 and expected to rise with a CAGR of 7.2% in the forecast period attributable to its mechanical, physical, chemical, electrical, and biomedical characteristics, the rapid growth and use of nanotechnology and nanomaterials in device industries.
- The colloidal silica-based coatings expected to grow with a CAGR of 7.1% in the forecasted period, due to the increasing demand for other alternatives in products, including paints and coatings, fabrics, and pigment, such as silica gels and silica sols.
- The automotive application is the major contributor to the Sodium Silicate Based Coatings Market. The automotive sectors of North America region are the major shareholder of the market and held around 30.0% of the market in the year 2019, owing to the industry's growing usage of coating on rubber, metal, and glass substrates for applying on windshield glass, vehicle mirrors.
- North America dominated the market for Sodium Silicate Based Coatings in 2019. The persistent emphasis of the area on cost-effective and creative methods being implemented in the sector drives the business. North America region held approximately 32.7% of the market, followed by the Asia Pacific, which contains around 28.8% market in the year 2019.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Sodium Silicate Based Coatings market is segmented into:
Substrates Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
Type Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Billion; 2017-2027)
- Sodium Silicate Based Coatings
- Colloidal Based Coatings
- Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Medical devices equipment
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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