Asia Pacific To Be The Fastest Growing Region In Hydrophobic Coatings Market
The global hydrophobic and hydrophilic coatings market is expected to grow significantly in the coming years on account of the growing application industries. The increasing demand for the coatings in different industries including aerospace, automotive, medical, marine and others is expected to drive demand.
The rising penetration of hydrophobic coatings in the automotive industry is expected to drive the market growth across the globe. The increasing demand for vehicles in Asia Pacific, Middle East & Africa, Europe and North America is expected to bolster the demand for hydrophobic coatings.
Hydrophilic coatings are expected to gain share on account of the growing demand in the medical industry. The increasing utilization of the product in catheters and guidewires is expected to augment the market growth of these coatings. The growing medical industry in developed economies is one of the key factors driving market growth.
Global automotive sales, by region, 2015
Hydrophilic coatings are being utilized in different application industries including medical, automotive, aerospace and optical industry. However, these coatings are now being substituted with hydrophobic coatings owing to the diversified characteristics. Hydrophobic coatings possess anti-corrosive, anti-fouling, anti-microbial, self-cleaning and other properties which give them an edge over hydrophilic coatings. In addition, though both technologies are expensive, hydrophilic coatings have low shelf life owing which the demand for the product is decreasing with the introduction of hydrophobic coatings.
The growing utilization of the product in the medical industry and in the manufacturing of medical equipment is expected to drive growth for the hydrophilic coatings market. Even though hydrophobic coatings are substituting hydrophilic coatings in automotive and aerospace industries, the demand for the coatings in the medical industry is growing significantly and is expected to continue growth in the near future.
Automotive sector dominated the demand for hydrophobic coatings in 2015. The growing utilization of the product in manufacturing the vehicle outer body and in the interiors of the vehicles is expected to drive the market growth. Also, the growing automobile production rate is expected to aid the growth in hydrophobic coatings market.
Medical industry dominated the demand for hydrophilic coatings owing to the increasing utilization for manufacturing of catheters and guidewires. Hydrophilic property of the coatings ensures a continuous and efficient flow of blood during surgeries as it provides friction flow of liquids. This is expected to be the crucial factor for product market growth in the industry over next few years.
Anti-corrosion and anti-microbial property of the hydrophobic coatings are expected to account for maximum market share over the next few years as they are widely utilized in automotive, medical, aerospace and marine industry. The growing utilization of anti-microbial hydrophobic coatings in the medical industry is expected to have a positive impact on the coatings market growth. However, hydrophilic coatings are expected to be the dominant product owing to the wide range of applications in the sector.
Asia Pacific is expected to be the fastest growing market for both the coatings owing to the high production of vehicles, medical devices and equipment, ships, and other products. The growing emphasis on infrastructural development in the region is expected to have a positive impact on the demand for the coatings in the construction sector. China and India are the major manufacturing countries of vehicles and medical devices and others owing to which the demand for the coatings in these countries is growing significantly.
BASF SE and AkzoNobel N.V. are one of the biggest manufacturers of specialty chemicals and others. These companies also manufacture hydrophobic coatings on a large scale. Aculon Inc., Surmodics, and 3M are the leading manufacturers of hydrophilic coatings.
In-depth report on global hydrophobic coating market by Grand View Research:
https://www.grandviewresearch.com/industry-analysis/hydrophobic-coating-market