The global hydrophobic coatings market is expected to grow at a CAGR of 6.08% from US$1,105.194 million in 2021 to US$1,670.602 million in 2028.
Hydrophobic coatings are protective barriers predominantly applied on glass, concrete, metal, ceramic, and polymer substrates used in several products manufactured in a wide range of industries, including medical, aerospace, automotive, building & construction, electronics, textiles, and certain others to enhance the anti-corrosion, anti-microbial, anti-icing, anti-fouling, and self-cleaning properties of such substrates. The development of new hydrophobic coating technology to be employed in solar panels and the simultaneous rise in the demand for sustainable energy sources is an important factor, along with the widespread adoption of hydrophobic coatings in the previously mentioned industries, expected to increase the demand for hydrophobic coatings market over the forecast period.Market Drivers
- Growing demand from the pharmaceutical sector
The World Health Organization has revealed that approximately 11% of patients in middle-income and low-income countries are affected by post-operative surgical site infections which are formed as a result of the formation of biofilms or a group of bacteria that are extremely unresponsive to antibiotics applied in the soft tissue surrounding the incision site. Therefore, the rising importance of hydrophobic coating with antibacterial properties to lower post-operative surgical site infections and the increase in consumption of medical devices across major healthcare sectors due to rising healthcare expenditure by consumers is a significant factor anticipated to result in the growth of hydrophobic coatings market over the forecast period.
- Increasing R&D in the hydrophobic coating technology
The low longevity of hydrophobic coatings could restrict the growth of the market.
A study conducted by Biolin Scientific revealed that the performance and effectiveness of hydrophobic coatings degrade as they have low tolerability towards external factors such as corrosive particles, tear, and UV resistance, which alter the nanostructures and microstructures present in hydrophobic coatings, which could also lead to uneven coating uniformity at different areas of the surface. The faster degradation of hydrophobic coatings could slow down the expansion of the hydrophobic coatings market. However, the increasing development in hydrophobic coating technology could help overcome this limitation.Market Developments:
- In March 2022, Malco Products, Inc., a chemical manufacturing company operating in the US, declared the launch of a new ceramic hydrophobic coating product, Epic Pro, to be applied in combination with automobile clearcoats to create a strong barrier with hydrophobic qualities for a maximum length of 36,000 miles.
- In August 2020, Chemical Guys, a company providing specialty products and detailing solutions to vehicles, introduced a new hydrophobic coating product, HydroThread Ceramic Fabric Protectant & Stain Repellant, to be used in the interior parts of vehicles to offer protection against stains.
- In July 2020, PPG Industries Inc., US-based specialty paint, materials, and coatings producing company, introduced a new hydrophobic coating product, PPG Surface Seal, with rain-resistance and water-resistance properties to be applied across plain glass windshields and glass windshields coated with anti-static properties in airplanes.
Asia Pacific holds a significant portion of the hydrophobic coatings market and is expected to grow in the forecast period.
The growth in the region's electronics, automotive, and pharmaceutical sectors are major factors contributing to the consumption of hydrophobic coatings in major Asian economies. The rise in disposable income levels in certain countries in the region, such as South Korea and Japan, is resulting in the increased purchase of passenger cars and commercial vehicles, which is expanding the automotive sector in the region. Applying hydrophobic coatings on vehicles enables convenient polishing and cleaning of cars and repels water and snow during monsoon seasons. The International Organization of Motor Vehicle Manufacturers revealed that the number of vehicles manufactured in South Korea increased from 3.4 million units in 2021 to 3.7 million units in 2022. The presence and expansion of production activities of certain leading automotive companies such as Toyota, Kia, Hyundai, and Mahindra in the Asia Pacific region are expected to stimulate the growth of the hydrophobic coatings market.Market Segmentation:
By Substrate Type
- Glass
- Concrete
- Metals
- Ceramics
- Polymers
- Others
By Property
- Anti-Corrosion
- Anti-Microbial
- Anti-Icing
- Anti-Fouling
- Self-Cleaning
By End-User Industry
- Medical
- Aerospace
- Automotive
- Building & Construction
- Electronics
- Textiles
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- United Kingdom
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Thailand
- Taiwan
- Others
Table of Contents
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. GLOBAL HYDROPHOBIC COATINGS MARKET BY SUBSTRATE TYPE
6. GLOBAL HYDROPHOBIC COATINGS MARKET BY PROPERTY
7. GLOBAL HYDROPHOBIC COATINGS MARKET BY END-USER INDUSTRY
8. GLOBAL HYDROPHOBIC COATINGS MARKET BY GEOGRAPHY
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
10. COMPANY PROFILES
Companies Mentioned
- 3M
- PPG
- NEI Corporation
- Surfactis
- Aculon
- Cytonix
- NeverWet
- Nippon Paint Holdings Co., Ltd.
- Drywired
- BASF SE
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 132 |
Published | June 2023 |
Forecast Period | 2021 - 2028 |
Estimated Market Value ( USD | $ 1.11 billion |
Forecasted Market Value ( USD | $ 1.67 billion |
Compound Annual Growth Rate | 6.0% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |