A new report by Allied Market Research, titled, World Smart Material Market, projects that the world smart materials market is expected to generate revenue of $72.63 billion by 2022, with an estimated CAGR of 14.9% from 2016 to 2022.
Despite some challenges the outlook is positive, with steady growth across a number of sectors, from an increase in single-family construction and residential green building, to the growing remodeling market, to the expected entrance of millennials into the home-buying market.
Driven by large and widespread feedstocks and government incentives, Southeast Asia is positioned to be a hub for biobased materials and chemicals (BBMC), according to Lux Research.
According to a new study by the market research institute Ceresana, worldwide demand for paints and varnishes accounted for almost 40 million tonnes in 2014. The report gives an analysis up to the year 2022.
