Global Hydrophilic Coating Market Is Expected To Reach Around USD 14.70 Billion By 2024

06-Sep-2018 | Zion Market Research

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.

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Global Hydrophilic Coating Market

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.   

North America emerged as the leading market for hydrophilic coating followed by Europe and the Asia Pacific. North America and Western Europe are expected to be the highest growing market for hydrophilic coating in the forecast period. Increasing demand for coating in several applications is projected to propel the hydrophilic coating market growth. Moreover, the growing healthcare industry in the region is expected to increase the usage of hydrophilic coating for medical devices. The Asia Pacific is expected to grow substantially in terms of volume owing to the increasing demand from the construction and automotive industries. Latin America is likely to hold immense potential for hydrophilic coating market. The Middle East & Africa is anticipated to show a slow growth rate for hydrophilic coating market.

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. 

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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