The global anti-icing coatings market was valued at US$ 488.6 Mn in 2017 and is anticipated to expand at a CAGR of 14.04% from 2018 to 2026, according to a new report titled ‘Anti-icing Coatings Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). The global anti-icing coatings market is driven by the rise in demand for these coatings in the aerospace & automotive segment. Europe accounts for major share of the global anti-icing coatings market.
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High Costs and Safety Concerns Associated with Damages Caused due to Icing to Drive Market Growth
Icing or accumulation of ice caused by freezing of liquid on a surface hampers the functioning of systems. For instance, icing on screens and body of aircraft damages their aerodynamic shape to a large extent. It also increases the load on the aircraft. This boosts fuel consumption and challenges the structural integrity of the aircraft. It can make an aircraft unsafe during severe weather conditions. Icing also occurs in power utilities and telecommunication lines. Ice accumulation leads to added burden on overhead lines and antennas, making them buckle and fail. Therefore, removal of ice is critical for the performance and safety of systems that are exposed to icing. Anti-icing coatings play an important role in curbing costs and safety concerns associated with icing. This is estimated to be a key factor augmenting the anti-icing coatings market during the forecast period.
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Lack of Technology to Improve Performance Acting as Restraint
Anti-icing coatings have low durability. This makes them susceptible to mechanical wear and tear. These coatings need to be applied at regular interval and are not easy to repair. Sometimes, mechanical removal of ice is necessary even after the application of these coatings. Lack of technology to produce anti-icing coatings of longer durability and desired properties is anticipated to restrain the global anti-icing coatings market during the forecast period