Automotive is expected to witness significant gains as a result of increasing importance of nanocoatings for enhancing the gloss and color characteristics of interior parts of four wheelers . Furthermore , improving automobile production in the developed markets including U . S ., Germany and UK owing to the increasing usage of four wheeler vehicles on a domestic level is expected to be a favorable factor .
Regional Insights
North America accounted for over 40 % of global market volume share in 2013 . Rising importance of the anti-microbial properties in healthcare and packaging industries of the U . S . is expected to have a positive impact . Furthermore , the positive outlook toward automotive manufacturing industry in Mexico owing to new investments by Nissan is projected to be a driving force .
Asia Pacific is projected to remain one of the most lucrative markets on account of Infrastructure improvement in China and India amid the supportive policies by national governments . Furthermore , the firm foothold of nanotechnology research institutes in Japan and South Korea is expected to allow the new establishment of strategic partnerships by nanocoatings vendors over the next few years .
Competitive Insights
Key industry participants include Nanofilm Ltd ., Inframat Corporation , Eikos Inc ., Bio-Gate AG , P2i LTD ., Nanogate AG , CimaNanoTech Inc ., Integran Technologies Inc ., Buhler PARTEC GmbH , Nanovere Technologies LLC and Nanophase Technologies Corporation .
High investment cost aimed for R & D along with increased spending on the established partnerships with technological institutions is projected to remain a key challenge for the industry . Furthermore , the low adoption rate of nanocoatings in developing markets including India and Mexico on account of their high price as compared to the conventional polymer counterparts is expected to have an adverse impact over the forecast period .
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