PUBLISHER: The Business Research Company | PRODUCT CODE: 1414296
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414296
“Hydrophobic Coatings Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hydrophobic coatings market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hydrophobic coatings? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The hydrophobic coatings market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Hydrophobic coatings are characterized by their tendency to repel water or resist mixing with it. Coatings with a hydrophobic or superhydrophobic surface offer various benefits to the substrate and coating surface where they are applied. Many consumer products utilize hydrophobic coatings to enhance water repellency, water filtering, moisture detection, and corrosion protection.
The main types of products used for hydrophobic coatings include polysiloxanes, fluoro-alkylsilanes, fluoropolymers, titanium dioxide, and others. Polysiloxanes encompass a broad range of fluids, resins, or elastomers formed through siloxane polymerization. They serve various functions such as anti-microbial, anti-icing, anti-fouling, anti-corrosion, and self-cleaning, and are manufactured through methods such as chemical vapor deposition, phase separation, sol-gel processes, electro-spinning, and etching. Application methods include dip-coating, brushing, roll coating, spraying, among others. Hydrophobic coatings find application in diverse industries, including automotive, electronics, building and construction, marine, textiles, healthcare, aerospace, oil and gas, food and beverages, and other sectors.
The hydrophobic coatings market research report is one of a series of new reports from The Business Research Company that provides hydrophobic coatings market statistics, including hydrophobic coatings industry global market size, regional shares, competitors with a hydrophobic coatings market share, detailed hydrophobic coatings market segments, market trends and opportunities, and any further data you may need to thrive in the hydrophobic coatings industry. This hydrophobic coatings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The hydrophobic coatings market size has grown strongly in recent years. It will grow from $1.86 billion in 2023 to $1.99 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The expansion observed during the historical period can be attributed to the demand in the automotive sector, the need for industrial infrastructure protection, applications in electronics and electronic components, as well as utilization in marine and aerospace industries, and coating applications for medical devices.
The hydrophobic coatings market size is expected to see strong growth in the next few years. It will grow to $2.71 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The anticipated growth in the forecast period can be attributed to the increasing adoption of hydrophobic coatings in consumer goods, a rise in demand for anti-corrosion solutions, a focus on sustainable and eco-friendly coatings, expansion in the wind energy sector, and advancements in electronic devices. Major trends expected in the forecast period include the adoption of smart coating technologies, advancements in nanotechnology, the development of self-cleaning surfaces, applications for anti-icing and de-icing, and innovation in biocompatible hydrophobic coatings.
The anticipated increase in vehicle production is set to drive the growth of the hydrophobic coating market in the future. Vehicles, which are automobiles equipped with wheels and engines used for land transportation, benefit from hydrophobic coatings applied to surfaces such as glass, paint, and other exterior components. These coatings create a hydrophobic shield, enhancing water resistance by causing water droplets to bead up and roll off the vehicle's surface. Furthermore, the rise in disposable income in developing countries has contributed to increased demand for vehicles. For instance, data from the European Automobile Manufacturers' Association in April 2022 revealed that global motor vehicle production in 2021 reached 79.1 million units, reflecting a 1.3% increase from the previous year. The United States, in particular, produced 9.2 million automobiles in 2021, marking a 4.5% growth over 2020. Consequently, the upswing in vehicle production is a driving force behind the expected growth of the hydrophobic coatings market.
Increasing construction activities are also anticipated to propel the growth of the hydrophobic coatings market. Construction activities encompass a broad spectrum of tasks involved in building structures, infrastructure, and physical edifices. Hydrophobic coatings find application on various surfaces, including concrete, glass, metal, and stone, providing protection against water-related damage, enhancing durability, and reducing maintenance efforts. According to reports from the United States Census Bureau in April 2023, the construction spending in February 2023 amounted to $1.84 billion. The first two months of the year showed a 5.9% gain, reaching $260.8 billion in construction investment compared to the same period in 2022. Hence, the surge in construction activities is a significant driver for the hydrophobic coatings market.
Product innovation emerges as a key trend gaining traction in the hydrophobic coatings market, with major players focusing on producing innovative solutions to fortify their market positions. For example, in June 2021, Coat X, a Switzerland-based technology company, introduced a new super-hydrophobic nanocoating designed to repel liquids effectively when applied to substrates such as glass, polymers, fabrics, and PCBs. This innovation showcases COAT-X's commitment to improving existing products, including manufacturing more environmentally friendly personal protective equipment (PPE) in response to the COVID-19 pandemic.
Major companies operating in the hydrophobic coatings market are driving revenues through the development of next-generation hydrolysis antifouling paint using nanotechnology. Nanotechnology in coatings represents a cutting-edge approach, offering various benefits compared to conventional coating technologies. In January 2021, Nippon Paint Marine, a Japan-based coatings company, launched FASTAR, a next-generation hydrolysis antifouling paint that incorporates a unique hydrophilic and hydrophobic nanodomain structure using nanotechnology. This structure enhances antifouling performance and demonstrates the industry's commitment to technological advancements.
In November 2022, SDC Technologies, a US-based company providing high-performance specialty coating solutions, acquired Coburn Technologies, a US-based company offering hydrophobic coatings. The acquisition aimed to expand SDC Technologies' portfolio, incorporating premium coatings, automated coating equipment, and advanced lens processing technologies from Coburn Technologies.
Major companies operating in the hydrophobic coatings market report are BASF SE, DryWired, PPG Industries Inc., 3M Company, NEI Corporation, Nippon Paint Holdings Co. Ltd., NeverWet LLC, Aculon Inc., Cytonix Corporation, Lotus Leaf Coatings Inc., Advanced NanoTech Lab, Kansai Paint Ltd., Endura Manufacturing Company Ltd., Nanokote PTY Ltd., Precision Coating Company Inc., The Sherwin Williams Company, Masters Building Solutions, NTT Advanced Technology Corporation, COTECH GmBH, Akzo Nobel N.V., Surfactis Technologies, Nanogate, MesoCoat Inc., AccuCoat Inc., Rust-Oleum, UltraTech International Inc., P2i Ltd., Neiker-Tecnalia, Sto SEA Pte. Ltd., Allegiance NanoSolutions, Artekya Technology Ltd.
Asia-Pacific was the largest region in the hydrophobic coating market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global hydrophobic coating market during the forecast period. The regions covered in the hydrophobic coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the hydrophobic coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The hydrophobic coatings market consists of sales of teflon hydrophobic coating, ceramic coating, lotus leaves, and fluorocarbon materials. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.