Global Sol-Gel Products Market - Segmented by Application, End-User Industry, and Geography - Growth, Trends and Forecasts (2022 - 2030)

The sol-gel products market is expected to witness high growth rate during the forecast period (2018 to 2023), primarily driven by the rising demand from biomedical industry. The increase in demand for sol-gel protective and optical coatings is also likely to stimulate the market growth during the forecast period.

Rising Demand from Biomedical Industry Driving the Market
The sol-gel technology is widely used for the construction of biomedical sensors, laser materials and for delayed drug delivery. The sol-gel technology based biosensors are showing their potential for detecting gases, toxic materials, humidity, acidity and biologically active agents. The introduction of the sol-gel technique for preparing implants improves the mechanical strength, biocompatibility and bioactivity of scaffolds and also prevents the corrosion of metallic implants. The increase in chronic diseases and novel technological advancements to deliver drugs is likely to create more opportunities for the growth of sol-gel products market.

Sol-gel Coating Application is Expected to Witness Highest Market Share
Coatings deposition represents the oldest and largest commercial application of sol-gel technology. Silica based sol-gel coatings represents huge potential to be implemented in optical devices, like optical sensors and active coatings. The sol-gel process offers various advantages for the development of coatings owing to their relatively low temperatures involved. The ever-increasing demand coupled with the advancement in the technology in automotive and aerospace industry is likely to increase the demand for sol-gel coatings which can range from corrosion-resistant to self-cleaning and ultraviolet energy-resistant coatings.

Electronics Manufacturing and Biomedical Driving the Asia-Pacific Market
North America accounted for the largest market share in the sol-gel products market in 2017, with United States holding the largest share by country in the global market. Asia-Pacific is expected to witness the highest growth rate during the forecast period. China is one of the major market for sol-gel products, with ample electronics manufacturing activities being supported by the growing economy. China accounted for the highest market share for sol-gel coatings in Asia-Pacific region, which are widely used in the automotive and biomedical sectors in the country. The increasing focus on the miniaturization of electronic devices and strong growth in the biomedical sector is likely to drive the demand for sol-gel products in the Asia-Pacific during the forecast period.

Notable Developments
In June 2018, FEW Chemicals, in cooperation with IMWS Fraunhofer Institute Halle, has designed a hybrid nanocoating material based on the sol-gel chemistry to provide an effective anti-fingerprint (AFP) effect.

Major Players: 3M Company, CHEMAT TECHNOLOGY INC., SCHOTT AG, and Nanovations Pty Ltd., among others.

Reason to Purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Identifying the dominating application and end-user industry in the market over the forecast period
Countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
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