New York, NY, Sept. 08, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Hydrophilic Coating Market by Substrate Type (Metals, Polymers, Glass/Ceramics, Nanoparticles, and Others) and by Application (Medical Devices, Optics, Automotive, Aerospace, Marine, and Other Applications): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global hydrophilic coating market was valued at USD 9.91 billion in 2017, is expected to reach USD 14.70 billion in 2024 and is anticipated to grow at a CAGR of 5.8% between 2018 and 2024.
Hydrophilic coatings are extensively used in a wide range of applications such as medical devices, optics, automotive, aerospace, marine, and others. Hydrophilic coatings offer versatile properties like high lubricity and flexibility; it is widely used in medical devices to form lubricious surface to prevent injury while inserting the device into the body. Moreover, growing industrialization and urbanization in several emerging countries such as India, China, and Japan is expected to boost the hydrophilic coating market demand in the coming years.
Browse through 71 Tables & 39 Figures spread over 110 Pages and in-depth TOC on “Global Hydrophilic Coating Market Size, Share, Industry Trends, Growth Analysis and Forecast, 2017 – 2024”.
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The global hydrophilic coating market is projected to grow at the fastest pace during the forecast period, owing to the increasing usage of hydrophilic coatings in the automotive industry. The hydrophilic coating is largely used as a major substitute for coating materials, especially in automotive application due to its versatile properties. Moreover, increasing awareness regarding the new medical practices is estimated to increase the demand for hydrophilic coating. However, fluctuating prices of raw material may hamper the growth of hydrophilic coating market in future. Additionally, lack of scratch resistance of the coatings and waviness appearance in the presence of water is anticipated to hinder the market growth. Nevertheless, the demand for hydrophilic coating is expected to grow gradually in the aerospace industry as these coatings are widely used on several types of aircraft in order to ensure additional protection and create a smooth outer surface.
The global hydrophilic coating market can be segmented on the basis of substrate type, application, and regions. On the basis of substrate type, the global hydrophilic coating market is classified into polymers, glass/ceramics, nanoparticles, metals, and others. Polymer segment of the substrate type accounted for about 34.7% and was the most dominating type amongst others, in 2016. Due to its versatile properties like lightweight, low cost, high durability, portability, and flexibility, it is being widely used in a varied range of industrial applications. Glass and nanoparticles type of substrates are expected to grow moderately in the upcoming years. Moreover, polymers can be easily made lubricious to facilitate its smooth application and removal. On the basis of application, the hydrophilic coating market is segregated into medical devices, optics, automotive, aerospace, marine, and other applications. Moreover, medical devices and automotive are the major applications of hydrophilic coating market. Increasing demand for hydrophilic coating in manufacturing automotive components is expected to contribute to the market growth in the forecast period.
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In 2016, North America and Western Europe contributed the largest share in global hydrophilic coating market in terms of revenue and is anticipated to maintain its dominance during the forecast period. The hydrophilic coatings market in the region is projected to show the largest growth, owing to the high demand from medical and automotive industries. This is expected to drive the market growth in upcoming years. The U.S. leads the North American hydrophilic coatings market and is the leading consumer of hydrophilic coatings. Moreover, technological advancements in medical devices are expected to contribute to the market growth in the future.
The Asia Pacific is anticipated to grow at the fastest pace during the upcoming years. It is projected to show rising demand for hydrophilic coating owing to a varied range of applications in the automotive and medical devices. Therefore, growing demand in the aerospace industry is expected to boost the demand for hydrophilic coating, as these coatings are widely used on several types of aircraft in order to ensure additional protection and create a smooth outer surface. Furthermore, use of hydrophilic coated glass for optical lenses, mirrors, eyeglasses, and on instruments in humid environments positively influences the market. Increasing usage of polymeric hydrophilic coatings in various industrial applications is expected to raise the hydrophilic coatings market in the region. However, the prices of raw material used to manufacture hydrophilic coating are fluctuating and hence it is anticipated to affect the market growth in the near future.
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Latin America is expected to grow substantially in the forecast period. Brazil is expected to witness a moderate growth in the market, which is attributed to the significant use of hydrophilic coating in the automotive application. Growing construction industry in the region is estimated to witness an extreme change in market growth. Moreover, increasing demand for hydrophilic coating in the automotive industry is the prime factor to drive the market growth in the region.
The Middle East & Africa is projected to register moderate growth in the upcoming years due to the rising industrialization. In addition, increasing demand for building & construction in the region is expected to propel the hydrophilic coating market. Increasing urbanization, population growth, and rising demand from the healthcare industry have led to increasing demand for population market within the region.
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The hydrophilic coating market consists of a large number of manufacturers. The key companies operating in the hydrophilic coating market include Henniker Plasma, Teleflex Incorporated, Aculon, Inc., Surface Solutions Group, LLC, Surmodics, Inc., Koninklijke DSM N.V., Henkel AG & Co. KGaA, Pangolin Medical, BioInteractions Ltd., Dontech, Inc., and Harland Medical Systems, among others.
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The report segments the global hydrophilic coating market as follows:
Global Hydrophilic Coating Market: Substrate Type Analysis
- Polymers
- Glass/Ceramics
- Metals
- Nanoparticles
- Others
Global Hydrophilic Coating Market: Application Analysis
- Medical Devices
- Optics
- Automotive
- Aerospace
- Marine
- Others
Global Hydrophilic Coating Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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