Anti-Soiling Coating Market Snapshot (2023 to 2033)
The global anti-soiling coating market is likely to witness significant growth at a CAGR of 6.01% during the forecast period from 2023 to 2033. The global anti-soiling coating market stood at US$ 879 million in 2023 and the global market is projected to reach US$ 1,576 million in 2032.
Data Points
Key Statistics
Expected Market Value of the High-Temperature alloy market in 2023
US$ 879 million
Expected Market Value of the High-Temperature alloy market in 2033
US$ 1,576 million
Growth Rate
CAGR of 6.01%
Forecast Period
2023 to 2033
The usage of anti-soiling coating is as preventive as the coating applied on solar panels for preventing the solar panels from accumulating dust particles. But the growing demand for decentralized power generation in emerging countries is expediting the demand for solar panels. Therefore, the growth in the solar panel market is expected to boost sales in the forecast period. To decrease the carbon footprint, CO2 emissions are reduced, and mitigating pollution, the demand is hence shifting towards solar photovoltaic panels which will thus boost the sales of the product. Also, the development of battery storage technologies has helped to overcome these challenges highly benefiting the demand development for the market.
The usage of conventional sources of energy is discouraged due to the excessive growth of pollution thereby declining fossil fuel reserves all around the globe. Such factors promote renewable and cost-effective sources of energy leading to power generation to cater to the rising demand for an uninterrupted power energy supply. Thus, the decline in raw material prices with the rise in the process of electricity globally and the fall in the prices of the cost of installation for solar photovoltaic panels propels the usage of solar power globally that projects the sales of anti-soiling coatings during the forecast period.
The USA is said to hold the largest market for anti-soiling coatings whereas the solar industry is said to witness astounding growth in different states that incurs positive policy actions and tax breaks. Thus, the demand for the anti-soling coatings market is said to be increasing its sales of solar panels in the country where the market experiences significant growth incurring to rise in applications of solar panels for fulfilling residential power requirements.
The largest global installed capacity for solar power in the world both on the scale of utility and rooftop scholar Is China. India is considered to be a profitable market where it fulfils the endless demand for energy country that needs high power generation capacity and new infrastructure. Lastly, due to the covid crisis, many countries in the EU have been severely impacted which has ultimately led to a decline in economic activities. But, now due to the growing government initiatives towards the economy, the country is redeveloping causing the market to grow at a significant rate.
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Anti-Soiling Coating Market: Key Players
Some of the key market players in the high-temperature alloys market are
Chugoku Marine Paints, Ltd.
Strategies-
The company’s essential strengths and weaknesses and areas of development or deterioration are considered and presented in the profile objectively. The recent developments in the company will help you to cover the profile and help you to track important events.
The company can explore and exploit various opportunities that are sized up and where its growth potential is assessed in the profile. Here, the competitive and technological threats are also highlighted.
Akzo Nobel N.V.
Strategies-
They hold leading positions in large and attractive markets
The company is well-positioned for accelerating growth and enhancing profitability
Not only balances growth but also improves profitability.
Anti Soiling Coating Market Overview
According to the latest research by Future Market Insights, the market is set to witness steady growth during the forecast period 2021 - 2031, progressing at a CAGR of more than 6% during the period. Demand will witness significant growth owing to the growing awareness towards ecological balance. Growing demand for eco–friendly products is increasing and also expected to rise during the assessment period.
Such factors are in turn anticipated to boost demand for these coatings.
Find your sweet spots for generating winning opportunities in this market.
What is Driving Demand for Anti Soiling Coating?
Anti Soiling Coating is used as a preventive coating applied on solar panels to prevent solar panels from dirt accumulation. Growing demand for decentralized power generation in emerging countries is propelling the demand for solar panels. Growth in the solar panel market is likely to boost sales during the forecast period.
To decrease carbon footprint, reduce CO2 emissions, and alleviate pollution the demand is shifting towards solar photovoltaic panels which are boosting the sales of the product.
Reliability, and overall production capacity, are key factors which hinder the solar power market, which in turn hampers the demand for Anti Soiling Coating. However, the development of battery storage technologies has helped overcome these challenges, which is a highly beneficial factor in demand development for the market.
Growing Demand for Energy is Likely Augment Anti Soiling Coatings Sales
The use of conventional sources of energy is being discouraged due to excess growth in pollution and declining fossil fuel reserves across the globe. These factors are promoting the use of renewable and cost-effective sources of energy for power generation to cater for the ever-increasing demand for uninterrupted energy supply.
In addition, declining raw materials prices coupled with growing prices of electricity across the globe and decreased cost of installation for solar photovoltaic panels is propelling the use of solar power across the globe which is projected to elevate the Anti Soiling Coatings sales during the forecast period.
Additionally, Anti Soiling Coatings also find their applications in the Oil & Gas Industry and the V-shaped Recovery of the Oil and Gas industry after the COVID-19 Impact will increase the demand for Anti Soiling Coatings.
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USA Market Outlook
The USA is one of the largest markets for Anti Soiling Coatings globally. The US solar industry has witnessed spectacular growth in various states owing to positive policy actions and tax breaks. Demand will be driven due to an increase in sales of solar panels in the country. The solar panels market is experiencing significant growth owing to increased applications of solar panels to fulfil residential power requirements
China and India Demand Scenario
China has the largest global installed capacity for solar power in the world, both on a utility-scale and for rooftop solar. The country is witnessing huge solar power project developments to replace old coal-based plants that would be shut down in a few years, thus driving demand for these special coatings.
India is a lucrative market. To fulfil the vast demand for energy country needs high power generation capacity and new infrastructure. Growing initiatives and investments in the clean energy sector over conventional sources of energy from the government is boosting the use the solar panels in the country which in turn promotes the sales of Anti Soiling Coatings across the country.
Europe Demand Outlook for Anti Soiling Coatings
Many countries in the EU have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. However, growing government initiatives towards economic redevelopment caused the market to recover at a significant rate.
Europe is a significant market for solar panels owing to the model of decentralized energy generation across the region. Increased Government action and investment in some European countries such as Germany and UK have boosted the renewable power generation capacity in the region. Owing to occurrences of dispersed solar assets in the region Anti Soiling Coatings Market is expected to grow at a significant rate during the forecast period.
Manufacturers in the region are targeting and innovating special coatings for solar panels to fulfil the demand of the solar energy sector.
Who are the Key Manufacturers and Suppliers of Anti Soiling Coatings?
Some of leading manufacturers and suppliers of Anti Soiling Coatings are
BASF SE
Boero
PPG Industries Inc.
Nippon Paint Marine coatings Co. Ltd
Chigoku Marine Paints, Ltd.
Jotun
Kop Coat Inc.
Akzo Nobel N.V.
Many manufacturers and suppliers are investing in research and development of low cost coating for increasingly cost efficient solar panels in order to overcome the longstanding challenge of solar power generation.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
