The global smart surfaces market is projected to grow drastically in the coming few years. According to Transparency Market Research (TMR), this market will expand at a CAGR of 66.4% during the forecast period from 2015 to 2021. The global smart surfaces market will go from being worth just US$0.4 bn in 2014 to a value of US$20.5 bn in 2021.
High Demand for Self-cleaning Smart Surfaces to Drive Market
Smart surfaces refer to surfaces covered with nano-sized structures. Smart surfaces are increasingly becoming popular due to their unique applications. Some of the key application sectors of the global smart surfaces market are electronics, military, medical and healthcare, transportation, energy, construction, and security.
The global smart surfaces market is projected to witness growth majorly due to the rising demand for surfaces that are easier to clean and do not let dust accumulate. The segment of self-cleaning materials presently leads the global smart surfaces market. Self-cleaning materials are used in sectors such as construction and transportation.
Increasing demand for anti-microbial surfaces in the medical and healthcare sector is one of the major factors fueling the demand for smart surfaces globally. With increasing health awareness the demand for antimicrobial surfaces in medical and healthcare sector has increased considerably in the recent past. Antimicrobial coatings are used in order to prevent the growth of microorganisms including bacteria, parasites, fungi and other germs. However, with presence of large number of regulations regarding the usage of materials as coatings companies are making huge amount of investments in research and development activities to develop coatings complying with regulations.
Key Lucrative Market Sectors: Electronics and Transportation
The segment of transportation is projected to dominate the global smart surfaces market in the foreseeable future. This sector is projected to be worth US$6.4 bn by 2021. The transportation smart surfaces segment benefits from the rising demand for smart windshields in the luxury car market sector.
Another lucrative sector in the global smart surfaces market is that of electronics. This sector is expected to expand at a remarkable CAGR of 72.6% during the forecasting horizon. The electronics sector in the global smart surfaces market will benefit from the accelerating demand for scratchproof surfaces.
Global Smart Surfaces Market: By Application
Medical and Healthcare
Antimicrobial Smart Surfaces
Drug Delivery Surfaces
Military and Security
Asia Pacific to Emerge as Global Leader in Smart Surfaces Market
At present, North America is leading the global smart surfaces market. However, it is the Asia Pacific region that will emerge as the dominant sector in the global smart surfaces market by the end of the forecasting horizon. The Asia Pacific smart surfaces market is fuelled by the presence of several automobile manufacturing utilities and upcoming business utilities. Asia Pacific is expected to register a notable CAGR of 74.5% during the forecast period in the global smart surfaces market.
The global smart surfaces market is fragmented in nature and no single major player dominates in all verticals. In addition to this, smart surfaces being a relatively new technology, many new entrants are penetrating this market with their prime focus on R&D. A research team at the University of Birmingham has invented a sensor chip that can be used to improve the accuracy and efficiency of diagnosis of prostate cancer. This chip features a smart surface made with nano-cavities that contain the particular target glycoprotein. Another firm, mPhase, has come up with a smart surface that keeps essential components of a battery (solid and liquid electrodes) separate till power is needed. This smart surface technology is now being used to develop a smart drug delivery system.