Hydrophobic Coatings Market Analysis
Hydrophobic Coatings Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
Hydrophobic coatings are thin sheets of waterproof constituents on substrates and are also called water-repellent coatings, as they offer superior resistance to water. Hydrophobic coatings find wide applications across various sectors such as building and construction, aerospace, automotive, and medical. Automotive and building & construction sectors are the major growth engines of the market.
Hydrophobic coatings offer excellent physical attributes such as abrasion, corrosion and water resistance, stability against inorganic, and organic pollutants, bio-fouling, and ability of self-cleanliness. This increases their adoption across various industries. Moreover, they are easy to apply to any kind of substrate, widening their applications across a wide range of diverse industries such as automotive, marine, building & construction, and aerospace. The increasing emphasis on infrastructural development along with changing consumer lifestyles and rising standard of living in emerging economies such as India, is expected to leave a positive impact on the automotive and construction industry growth. This in turn creates a highly conducive environment for growth of the global hydrophobic coatings market during the forecast period (2016–2024). Hydrophobic coatings offer great water resistance for glass components during heavy rains and hence, they are likely to gain an increasing traction for application in car displays and windows thereby, boosting growth of the global hydrophobic coatings market. Medical devices used in vascular, endovascular and neurological procedures usually have a hydrophobic coating applied, so as to reduce friction between the device and blood vessels. Increasing number of surgeries worldwide, supported by growing production of medical devices, is further augmenting growth of the market.
Hydrophobic Coatings Market: Market Taxonomy
By Fabrication Method
By End User Industry
Hydrophobic Coatings Market Outlook - Asia Pacific poised to be key growth engine
The geographical coverage for global hydrophobic coatings market includes North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia-Pacific accounted for the maximum share in the global market in 2015 and is expected to retain its dominance throughout the forecast period. This is mainly attributed to rampant growth of various end user industries such as building & construction and automotive in the region, backed by supportive government initiatives such as tax rebates part of the Make in India campaign by the Indian government. The automotive sector witnessed FDI in the tune of US$ 15.79 billion during 2000–2016, with the country projected to be the largest producer of automotive by 2020. This argues favorably for growth of the hydrophobic coatings market in the region. Furthermore, booming medical industry in India and China and increasing production of medicals tools and related equipment, which is also expected to drive growth of the hydrophobic coatings industry in APAC. North America and Europe accounted for over 50% of the total market share owing to the high production volumes of end-user segments including automotive, aerospace, and medical devices.
The major players operating in global hydrophobic coatings market include Nanex Company, 3M, BASF SE, Abrisa Technologies, Aculon, NEI Corporation, P2I, DuPont, DryWired, Accucoat Inc., Nanex Company, and Oerlikon Metco Inc.
In April 2016, NEI Corporation launched an anti-fog durable coating commonly known as NANOMYTE SAF-100. Its attributes include oil, scratch and corrosion resistance. This product launch aided the company to expand its product portfolio and strengthen its market position. Aculon Inc. has announced new multi-surface repellence treatment by utilizing hydrophobic coatings. These novel products are further projected to fuel adoption of hydrophobic coatings for various new applications.