NEWARK, Del, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The global hydrophobic coatings market is projected to have a moderate-paced CAGR of 5.5% during the forecast period. The current valuation of the hydrophobic coatings market is US$ 2 Billion in 2022. The demand for hydrophobic coatings is anticipated to reach a high of US$ 3.42 Billion by the year 2032.
Products that have industrial coatings are better able to withstand water because they prevent water from adhering to their surfaces. Because of population growth and urbanization, construction projects are on the rise across the globe. This is especially true in the rapidly developing economies of Asia.
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The demand for hydrophobic coatings is growing as a result of efforts made by governments of developing countries to stimulate their economies. In December 2021, for instance, researchers at India's International Advanced Research Centre for Powder Metallurgy & New Materials created super-hydrophobic industrial coatings for stainless steel. Members of the group have investigated the breakthrough with an eye toward implementing it in the maritime, mechanical, electronic component, piping, power, and nuclear sectors.
In addition to rising disposable income and shifting consumer preferences, the expansion of the automotive industry is also anticipated to boost demand for industrial coatings. The top companies in this industry are spending heavily on research and development as well as mergers, acquisitions, and partnerships in order to maintain or expand their dominant hydrophobic coatings market positions. Private and public investment aimed at expanding product use into new areas is expected to strengthen the strategic landscape of the industry.
Key Takeaways
- Since many different types of vehicles, aircraft, and medical gadgets are mass-produced in these regions, North America and Europe together made up more than half of the global hydrophobic coatings market.
- In 2022, the automobile industry accounted for over 20% of the product's entire demand.
- Anti-microbial coating is predicted to have the highest growth rate due to its widespread use in the healthcare sector.
- Since it is increasingly being used in the production of biocompatible stainless-steel operating and surgical tools, demand for the product is anticipated to increase dramatically in the medical industry.
“Hydrophobic coatings have emerged as a game-changing innovation in various industries, offering exceptional water-repellent properties. These coatings not only enhance product durability but also find wide applications in automotive, electronics, and construction sectors. The market outlook for hydrophobic coatings is promising, with a significant growth trajectory driven by increasing demand for advanced surface protection solutions,” comments Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.
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Competitive Landscape
Some of the most important companies in the hydrophobic coatings market include PPG, 3M, NEI Corporation, Nippon Paint Holdings Co., Ltd., BASF SE, Ant Lab, Surfactis, Aculon, Aakzo Nobel, Abrisa Technologies, Cytonix, NEI Corporation, NeverWet, and Nippon Paint Holdings Co., Ltd. In order to keep their dominant position in the hydrophobic coatings market, the corporations focus primarily on developing new products and enhancing their production capabilities.
Recent Developments
- GKN Aerospace's transparencies centre of excellence in Garden Grove, California, was the location in July 2018 where the company introduced a new hydrophobic coating for cockpit glass. A permanent surface treatment that greatly enhances resistance to surface abrasion also provides the rain-shedding in-flight/ground activity that is provided by the surface.
- NEI Corporation launched the UV-Protect (UVP) technology in March of 2018, with the goal of developing upgraded versions of its successful NANOMYTE® coating products. These upgraded versions are intended to deliver distinctive characteristics in coatings that have unrivalled durability. The NANOMYTE® line of surface treatments and protective industrial coatings coatings include characteristics such as hydrophobicity, oleophobicity, self-healing, fog resistance, scratch resistance, anti-icing, self-cleaning, and anti-corrosion. These characteristics can be found in the protective coatings.
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Key Segments in the Hydrophobic Coatings Market
By Property:
- Anti-microbial
- Anti-icing/wetting
- Anti-fouling
- Anti-corrosion
- Self-cleaning
- Others
By Application:
- Aerospace
- Automotive
- Construction
- Medical
- Optical
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
Authors by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in the Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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