Report Predicts Market for Multifunctional Smart Materials to Exceed $1.4 Billion by 2021
GLEN ALLEN, VA - Industry analyst firm n-tech Research announced the release of a new report titled Multifunctional Smart Coatings and Surfaces: 2016-2025. According to the report, this market will exceed $1.4 billion by 2021, with multifunctional smart coatings gradually taking over from more mature multipurpose materials during that period of time.
The company believes that the coming decade will see substantial new business revenues generated by smart surfaces that exhibit multiple functionalities - notably various combinations of color shifting, antimicrobial, self-cleaning, self-healing, self-dimming glass and photovoltaics. In most cases, these surfaces will be created through multilayer coating approaches, but in some instances, embedded sensors or special surface patterning will be used to achieve the required functionality. There will also be a growing number of smart coatings capable of delivering multifunctionality in a single layer.