by Market Overview:
Hydrophobic coatings are thin film coatings, which have high water-repellent properties and provides low surface energy. They find applications on various substrates such as glass, metals, textiles, and fabrics to provide resistance against water and oil. Hydrophobic coatings have high tendency to repel liquids without direct contact, which makes the surface slippery to water, dust, and stains. This helps in self-cleaning and makes surface cleaning easier. Owing to such advantages, hydrophobic coatings are used in various end use industries such as construction, automotive and transportation, medical, optical and others.
The global Hydrophobic Coatings Market is estimated to be valued at Us$1.2 Mn in 2023 and is expected to exhibit a CAGR Of 6.1% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The construction industry is the dominant end use sector accounting for over 35% of the global demand. Hydrophobic coatings find wide applications in construction of buildings to provide protection to glasses, tiles, metals, and masonry from water, moisture, corrosion and other environmental factors. Increasing construction activities across developing regions such as Asia Pacific and Middle East & Africa is expected to boost the growth of hydrophobic coatings market over the forecast period. . Another key trend gaining major traction is growing preference of micro/nano sized hydrophobic coatings over conventional coatings in various end use industries. Nano sized coatings provide enhanced performance with minimal usage and are cost effective over conventional coatings. Such coating offerings cater to larger customer base and fuel the market growth.
Porter’s Analysis
Threat of new entrants: In the hydrophobic coatings market, the threat of new entrants is low as it requires high R&D investments and the market already has well-established players.
Bargaining power of buyers: The bargaining power of buyers is moderate as hydrophobic coatings are customized according to their applications and customers have some options to choose from reputed manufacturers.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of several raw material suppliers. Hence suppliers cannot influence prices significantly.
Threat of new substitutes: The threat of substitutes is low as hydrophobic coatings have certain unique properties over other surface treatments.
Competitive rivalry: The competitive rivalry is high among the existing players to gain market share by launching new and innovative hydrophobic coatings.
Key Takeaways
The Global Hydrophobic Coatings Market Demand is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing applications of hydrophobic coatings in electronics, automotive, medical devices, construction and other industries owing to their self-cleaning and water-repellent properties.
Regional analysis
Asia Pacific region is expected to witness fastest growth in the hydrophobic coatings market over the forecast period owing to the rising industrialization in emerging economies like China and India. North America currently dominates the hydrophobic coatings market followed by Europe due to the growing demand from healthcare and electronics industries in these regions.
Key players
Key players operating in the hydrophobic coatings market are 3M, E. I. du Pont de Nemours and Company, Aculon Inc., BASF SE, P2i, ABRISA TECHNOLOGIES, NEI Corporation, DRYWIRED, ACCUCOAT INC., OerlikonMetco (US) Inc, and NANEX COMPANY. These players are focusing on new product launches and expansion strategies to gain maximum share in the hydrophobic coatings market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
