The global anti-icing coating market is projected to develop from 2019 to 2025 at a CAGR of 24.2%. Major players are rolling out new anti-icing coatings goods in the market. For example, nVent RAYCHEM launched anti-icing system ArcticStep in March 2019 for walkways and decks. In addition to this, Advenira Enterprises, Inc. in February 2016 rolled out a revolutionary new application for power transmission lines for its patented tech anti-icing coating.
Different Benefits Of Anti-Icing Coating In Various Applications To Power The Global Market Growth
Lowering friction, surface hydrophobic, elevating the service life of machine or material, and avoiding ice buildup are the different advantages of anti-icing coating in various applications. The users of end-products can also benefit of cost savings via lowered labor, raw material, and energy price of re-coating or repainting, thereby boosting the development of the global market. The increase in requirement for anti-icing coatings in areas with cold climate might also boost the growth of the market, paired with the services of superior product characteristics. The rising requirement for anti-icing coatings in the renewable energy and communication equipment sectors for utilization of energy sources and enhanced connectivity is projected to elevate the odds for business extension for major players of the global market.
The accessibility of cost-effective alternatives such as de-icing fluids hinders the development rate of the global market, as the users often favor the employment of domestically sourced and affordable goods rather than buying costly chemicals. The cost volatility of raw substances also acts as hindering factor, as difficulty in availing of essential raw materials at the time of production of the end-goods lead to downtime of processes. The acceptance of strict environmental rules on a global scale has also compelled firms to adopt environmental-friendly production methods, significantly elevating the price of production.
Government Agencies Are Collaborating With And Funding The Researchers To Boost The Global Market In North America
North America is maintaining the dominance in the global anti-icing coating market and is projected to sustain the position over years to come. The increasing requirement for anti-icing coatings from the cold climate areas in North America, where regular snowfall is much more as compared to other areas, is projected to boost the market growth.
Elevated requirement, particularly from the aviation sector, will lead to high development potential in the global market. Government agencies such as the US Environmental Protection Agency, US Department of Energy, and NASA are collaborating with and funding the researchers for the enhancement of the tech. For example, the coating formula has been designed by the engineering and materials science division in the United States.
This review is based on a report by Zion Market Research, titled “Global Anti-Icing Coating Market by End-Use Industry (Renewable Energy, Automotive & Transportation, Construction, Communication Equipment, and Others), Substrate (Glass, Metals, Concrete & Ceramics), and Region – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025”
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The global anti-icing coating market is segmented as follows:
By End-Use Industry
- Automotive & Transportation
- Renewable Energy
- Communication Equipment
- North America
- Asia Pacific
- Latin America
- Middle East and Africa