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  • Published On : Nov 2022
  • Code : CMI986
  • Industry : Advanced Materials
  • Pages : 163
  • Formats :

Hydrophilic coatings refer to low friction and wet table coatings majorly applied to various medical devices including cannulas, catheters, and guide wires. Hydrophilic coatings on medical devices produce a lubricious surface reducing irritation and trauma caused by the insertion of a medical device in the body. In addition to this, hydrophilic coatings help to prevent the medical devices from bacterial colonization, thereby reducing the possibility of infections.

Global hydrophilic coatings market was valued at US$ 13.16 Bn in 2021 in terms of revenue, exhibiting a CAGR of 6.69 % during the forecast period (2022 to 2030).

Drivers

The major factors propelling the growth of this market include the increasing adoption of hydrophilic coatings from end-use industries, such as healthcare, automotive, aerospace, and marine. Hydrophilic coatings exhibit water attracting properties and produces a hydrogen bond, which creates a lubricious and wettable coating that can be applied to a variety of surfaces and materials. Furthermore, the growing demand for lightweight materials in the automotive industry is expected to boost the growth of this market in near future. However, the high production cost of the hydrophilic coatings coupled with the lower shelf life of these products are the major factors hindering the growth of the market.

In terms of revenue, North America dominated the hydrophilic coatings market accounted for a share of more than around 35%. This dominance is due to increasing awareness regarding the benefits associated with non-invasive surgery procedures including laparoscopic surgery, endoscopic surgery, and thoracoscopic surgery. Furthermore, the rising penetration of hydrophilic coatings in the optics, aerospace, and automotive industries is largely contributing to the growth of hydrophilic coatings market in the region. The application of hydrophilic coatings on optical surface enhances transparency and provides clear vision, thus increasing the penetration level of hydrophilic coatings in various optical devices including outdoor surveillance, camera windows, and outdoor displays. Hydrophilic coatings are extensively used in car windshields and rear-view mirrors in order to ensure clarity while driving during rains. This factor is highly responsible for the growth of this market in the U.S, which in turn is complementing the growth of the hydrophilic coatings market in North America.

Asia Pacific is anticipated to be the fastest growing market for hydrophilic coatings, witnessing the highest CAGR of 6.69 % during the forecast period (2022 - 2030). Major factors propelling the growth of this market include substantial growth in the income of middle-class population and the steadily growing geriatric population in the region, which is supporting the growth of medical sector, in turn increasing the demand for hydrophilic coatings in the medical devices. According to the United Nations Population Fund (UNFPA), the region is aging faster at an unprecedented rate and by 2050, one out of four people in the Asia Pacific is expected to be over 60 years. Furthermore, UNFPA anticipated that the geriatric population in the region is expected to triple between 2010 and 2050, amounting to around 1.3 billion people. The steadily growing healthcare sector in China is also propelling the growth of hydrophilic coatings market. According to Coherent Market Insights, the health care expenditure in China is expected to grow from US$ 355 billion in 2011 to approximately US$ 1 trillion by 2020.

Figure 1. Global Hydrophilic Coatings Market Share, By End-use Industry, 2021

Hydrophilic Coatings  | Coherent Market Insights

Market Restraints

The presence of too many competitors, issues related to smuggling, stringent law enforcement, and legal suits by the licensees are the major restraint.

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Hydrophilic Coatings Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 13.16 Bn
Historical Data for: 2017-2020 Estimated Year: 2022
Forecast Period 2022 to 2030 CAGR: 6.69 % Forecast Period: 2022-2030
Geographies covered:
  • Region: North America, Europe, Asia-Pacific, Latin America, Africa, Middle East.
Segments covered:
  • By End-use Industry: Healthcare, Automotive, Aerospace, Marine, Optics, and Others
  • By Substrate: Polymers, Glass, Metal, Nanoparticles, and Others
Companies covered:

SurModics Inc., Aculon Inc., Surface Solutions Group LLC, Hydromer Inc., Teleflex Incorporated, AdvanSource Biomaterials Corp., Koninklijke DSM N.V., Covalon Technologies Ltd., and Harland Medical Devices. 

Growth Drivers:
  • Growing medical equipment market and extensive presence of hospitals and public health institutions
  • Europe: Well established automotive industry in the region is anticipated to fuel product demand
Restraints & Challenges:
  • The fluctuating price of raw materials used in the hydrophilic coating

Market Trends

  • The medical device market is rapidly increasing in the Asia Pacific region, which is expected to drive the consumption of hydrophilic coating in the manufacturing of the medical equipment which led to market growth.
  • The North American region is the largest market of medical device across the globe, being the major application of hydrophilic coating in the medical devices, the hydrophilic coating market is also expected to witness a rise.
  • The top market players in the hydrophilic coatings are expanding and increasing their distribution channels looking at the more demand across the new regions.
  • Cutting-edge technologies are advanced innovative technologies used in the anti-fog coatings that improve the product performance and durability. Tensistat is a moldable hydrophilic polymer material, which is specifically used for medical devices without any additional processes, providing an opportunity for the market growth.

Figure 2. Global Hydrophilic Coatings Market value Share (%), By Substrate, 2021

Hydrophilic Coatings  | Coherent Market Insights

Based on substrates, the hydrophilic coatings market is segmented into polymers, glass, metal, nanoparticles, and others. The polymer segment is expected to record a rapid growth in near future witnessing highest CAGR during the forecast period.

Recent Developments

  • In April 1, 2020, Royal DSM, leading global solutions supplier confirmed the completion of its acquisition of Glycom, which is a leading supplier of Human Milk Oligosaccharides for an enterprise value of US$ 833.31 million. This acquisition was done to gain a competitive market share by the company.
  • On Oct 13, 2022 Global Hydrophilic Coatings Market research report 2022 provides a detailed pipeline analysis of the frameworks of SWOT and Porter’s Five Forces Analysis, market attractiveness charts.

Competitive Section

Major players operating in the global hydrophilic coatings market include SurModics Inc., Aculon Inc., Surface Solutions Group LLC, Hydromer Inc., Teleflex Incorporated, AdvanSource Biomaterials Corp., Koninklijke DSM N.V., Covalon Technologies Ltd., and Harland Medical Devices.

Hydrophilic coatings exhibit water attracting properties by forming hydrogen bond with water and is extensively applied to a variety of surfaces and materials, which are used in medical devices, optics, and automotive industries. These coatings are ionic in nature and have negative charge, which supports the hydrogen bonding with water. Furthermore, hydrophilic coatings on the surfaces of medical devices, produces hydrogel material having wettable and lubricious texture, which reduces the irritation caused by the insertion of a medical device into the patient body.

Market Dynamics

The wide penetration of hydrophilic coatings in the various end-use industries including healthcare, optics, aerospace, marine, and automotive is fuelling the growth of global hydrophilic market. The rising demand for hydrophilic coatings, as an anti-fog agent from the automotive industry, is driving the growth of hydrophilic coatings market, due to the extensive use of these coatings in the automotive parts, such as body for glazing and rear-view mirrors, owing to its anti-fogging property.

North America dominated the hydrophilic coatings market in 2016. This is majorly due to the increasing application of these coatings in the automobile parts. In addition to this, the steadily rising automotive industry in the region and technologically advanced medical facilities are propelling the growth of hydrophilic coatings market in North America.

Asia Pacific is expected to project the fastest growth in the global hydrophilic coatings market during the forecast period. The rapidly growing geriatric population in the region is considered as the major factor, supporting the growth of these coatings in the medical devices. Furthermore, the substantial rise in the income of middle-class population is considered as another factor contributing to the growth of this market.

Key features of the study:

  • This report provides an in-depth analysis of the global hydrophilic coatings market, market size (US$ Bn), and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2022 – 2030).
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market. It provides valuable insights about market drivers, restraints, opportunities, new product launches or approval, pipeline products, regional outlook, and competitive strategy adopted by the leading players.
  • It profiles leading players in the global hydrophilic coatings market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, key developments, and future plans.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions with respect to their future product launch, market expansion, and marketing tactics.
  • The global hydrophilic coatings market report caters to various stakeholders in this industry, including investors, product developers, distributors, healthcare companies, research institutes, medical devices companies, new entrants, and financial analysts.
  • Stakeholders would greatly benefit in decision-making through the various strategy matrices used in analyzing the global hydrophilic coatings market.

Detailed Segmentation:

  • Global Hydrophilic Coatings Market, By End-use Industry:
    • Healthcare
    • Automotive
    • Aerospace
    • Marine
    • Optics
    • Others
  • Global Hydrophilic Coatings Market, By Substrate:
    • Polymers
    • Glass
    • Metal
    • Nanoparticles
    • Others
  • Global Hydrophilic Coatings Market, By Geography:
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • Italy
      • France
      • Spain
      • Russia
      • Rest of Europe
    • Asia-Pacific
      • China
      • India
      • Japan
      • ASEAN
      • Australia
      • South Korea
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
    • Africa
      • Northern Africa
      • Central Africa
      • South Africa
    • Middle East
      • GCC
      • Israel
      • Rest of Middle East
  • Company Profiles
    • SurModics Inc.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Aculon Inc.
    • Surface Solutions Group LLC
    • Hydromer Inc.
    • Teleflex Incorporated
    • AdvanSource Biomaterials Corp.
    • Koninklijke DSM N.V.
    • Covalon Technologies Ltd.
    • Harland Medical Devices

Frequently Asked Questions

Global hydrophilic coatings market was valued at around US$ 13.16 Bn in 2021.
Global market was valued at US$ 13.16 Bn in 2021 in terms of revenue, exhibiting a CAGR of 6.69 % during the forecast period (2022 to 2030).
The market is rapidly increasing in the Asia Pacific region, which is expected to drive the consumption of hydrophilic coating in the manufacturing of the medical equipment which led to market.
Rising demand for coatings in the medical sector is expected to drive the Market during the forecast period.
Major players operating in the market include SurModics Inc., Aculon Inc., Surface Solutions Group LLC, Hydromer Inc., Teleflex Incorporated, AdvanSource Biomaterials Corp., Koninklijke DSM N.V., Covalon Technologies Ltd., and Harland Medical Devices
The market is estimated to grow at around 6.69 % CAGR in the forecast period (2022-2030).

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