DETROIT - Nano Labs Corp. has been awarded a provisional patent number for a next-generation nano thermal insulation coating. Global growth for thermal insulation technology is predicted to grow, driven by international industry and governments sharpening efforts to foster and promote energy savings and safety. In 2014, the global paint and coatings market is forecast to have a value of $105.8 billion, an increase of 15.4 percent since 2009.
The new nano coating can serve as an insulation to reduce energy costs up to 40 percent, particularly in hot and humid environments, protecting against overheating, corrosion, microbial growth, some toxic substances, acid rain, rust, water, oxidization and UV rays.
In terms of market potential for commercialization of the new nano coating, Nano Labs believes primary thermal insulation market growth will be found in North America, particularly in the United States, which represents the largest regional market for industrial thermal insulation worldwide. The country's insulation market is expected to grow at more than seven percent per year from 2012 through 2014. The company also has strong expectations for the equatorial marketplace in countries that don't have ready access to energy and could use nano coatings on rooftops to dramatically decrease indoor temperatures.
"We believe our unique nano thermal insulation coating promises significant savings in air-conditioning costs when our new product solution is applied as an exterior coating. As a ‘radiant barrier,’ it has the potential to change the rate of heat transfer by reflecting the solar radiation that would otherwise be absorbed by the material underneath the coated surface. As a result, this material has the potential to reduce air-conditioning-related costs by as much as 40 percent," said Nano Labs President Bernardo Camacho.