Electronics industries seen as a key driver, with P2i claiming manufacturers are “waking up” to what it can do
Global demand for nanocoating on devices is expected to grow by nearly a quarter each year to $6.85 billion in 2020.
This is according to new figures from Zion Market Research as part of a new report to forecast the growth the market across a number of sectors, with rising demand for the technology from the electronics industry set to boost the number further.
Nanocoatings can make the object it is applied to stronger, streak-free, UV and chemical resistant or anti- corrosive and is used to protect ships, planes and cars.
Companies such as Oxfordshire- based P2i use the technology in order to make a device liquid repellent and therefore water resistant with the sector forecast to see a CAGR of 32 per cent between 2016 and 2020.
P2i CEO Ady Moores backed the predictions, claiming demand is growing for nano-coating technology on mobile devices from both manufacturers and consumers.
“We’re now seeing manufacturers wake up to the idea that they can give this added functionality to their customers through an invisible nanocoating. We are really seeing the demand coming though from consumers in respect of liquid damage almost being something of the past.
“Consumers are waking up to that and driving the brand to the OEMs to adopt technologies that can protect against liquid damage.
“We are seeing that as the real driver to adoption. Consumers are seeing that the high end smartphones from the likes of Apple and Samsung are clearly offering this and all the brands in the top 20 OEMs really drive towards offering a similar functionality to their consumers too.”
Apple and Samsung have made their flagship devices water proof by making them physically impenetrable, however, Moores says that nanocoatings perform the same function for a fraction of the cost.
“The protection you can get from nano technology enables your phone to continue to use for it’s entire life and consumers expect, whatever they pay for the phone, to last at least two years. So in a normal use case of a mobile phone, for the vast majority of mobile consumers that is enough protection.”
P2i has also found that the automotive industry in particular has expressed an interest in the liquid repellent nano coating before and expects that interest to be sustained and increased with the introduction of driverless cars in the coming years.
“We are very interested in taking that technology to the automotive market,” continued Moores. “We can see the demand and the pool from other sectors for nano coatings.
“With the next generation of smart cars and driverless cars, there are a large number of sensors and cameras that have to be used for that technology to work and have to be of the upmost reliability.
“They need to be protected from so we see the automotive industry being a huge consumer of protective nano coatings as we move forward into the next generation of smart cars.”