The global smart coatings market is projected to record a CAGR of 23.87% by 2022, reaching USD $6.26 billion. Rising applications in numerous end-use industries, including automotive and transportation, marine, building and construction, and aerospace and defense, will augment the market growth over the forecast period.
Smart coatings are specialty coatings that possess pre-defined properties that respond to external or environmental factors, such as pressure, chemical, light, heat and other stimuli. They can detect and prevent corrosion, and extend the life of components and structures made from corrosive materials. Thus, they improve a material’s efficiency by reducing maintenance costs and inspection times.