A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global anti fingerprint coating market was worth USD 680.3 million in the year 2020. According to the study, the market is estimated to grow at a CAGR of 5.5%, earning revenue of around USD 983.4 million by the end of 2027. The growth of the market can be attributed to factors such as the application of anti-fingerprint coatings in various industries, such as consumer goods, automobiles, construction, etc. Additionally, advances in chemical technology are also favoring the growth of the global anti-fingerprint coating market. However, the high cost of these coatings, combined with limited awareness, may act as a deterrent for the market.
Growing Smartphone Production Is Anticipated to Boost the Global Anti-Fingerprint Coating Market
There are approximately more than 3 billion smartphone users in the world, and this number has grown rapidly since COVID-19with the remote working scenario. As a result, smartphone manufacturers are constantly developing new products and expanding their production capacity to stay competitive. For instance, Motorola Mobility, a leading American smartphone brand has recently launched Motorola Edge 20 and Edge 20 Fusion in the Indian market, both of which have an anti-fingerprint coating. Also, it has been speculated that iPhone 13 could come with an anti-fingerprint coating. Thus, with the rising demand for smartphones, the global anti-fingerprint coating market is also expected to flourish.
Growing Automobile Industry to Fuel Anti-Fingerprint Coating Market Growth
The automobile industry has experienced a tremendous boom in the past few years due to the availability of low-cost skilled labor and significant foreign direct investment. Moreover, emerging economies like India, China, South Korea, and Japan are emerging as leading automobile manufacturers. The demand for anti-fingerprint coating is also projected to grow significantly with the growth of automobile production. Automobiles, especially cars, are highly exposed to human touch, dust, and oil, which can smudge the paint and body. Therefore, automobile manufacturers apply anti-fingerprint coatings to enhance the overall appearance of the vehicle, thereby driving the market's growth.
Global Anti-Fingerprint Coating Market - Regional Insights
Geographically, the global anti-fingerprint coating market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa. Among these regions, North America dominates the market. The Asia-Pacific region, on the other hand, is projected to witness the highest CAGR during the forecast period. The flourishing consumer goods industry in countries like India, China, and South Korea is one of the major factors propelling the growth of the anti-fingerprint coating market in the Asia Pacific. According to an estimate, China produced around 1.5 billion cell phones in 2020, which makes it the leading producer. Additionally, the growing building construction activities in the developing countries like China are anticipated to propel significant demand for the market.
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Impact of COVID-19 on Global Anti-Fingerprint Coating Market
The global anti-fingerprint coating market has had a tremendous impact during the initial phase of the COVID-19-induced pandemic. The lockdown imposed by countries to curb the spread of the virus has resulted in obstruction in the manufacturing activities, due to which the demand for anti-fingerprint coatings dropped significantly. However, the remote working and online schooling scenario have significantly proliferated the demand for smartphones, laptops, and tablets. As a result, manufacturers expanded their production scale to meet the growing demands of the market. This also leads to a surge in the demand for anti-fingerprint coatings, boosting its market growth.
The leading market players in the global anti-fingerprint coating market are AGC Inc., Taiwan Fluoro Technology Ci., Ltd., Cytonix LLC, Sumitomo Chemical Co., Ltd., Daikin Industries Ltd., PPG Industries, Inc., Essilor International S.A., Nippon Paint Surf Chemicals Co., Ltd, Harves Co., Ltd., Natoco Co., Ltd., IzovacLtd., Leader Optronics Technology Co. Ltd., NanoSlic Smart Coatings, NAGASE & CO., LTD., Nanokote Pty Ltd., Kriya Materials, Carl Zeiss Limited, Bühler AG, Plasmatreat GmbH, and other prominent players.
The market is competitive as well as consolidated with the presence of several industry players. The market players focus on launching a wide range of products for various applications with effective lipophobic properties.Moreover, competitors are very prominently adopting strategies like mergers, acquisitions, collaborations, partnerships, etc., to get a competitive edge.
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