Global Hydrophilic Coatings Market: Snapshot
Hydrophilic coatings are coatings that exhibit water attracting properties by participating in hydrogen bonding with water. Hydrophilic coatings are wettable and lubricious and can be applied to a variety of surfaces and materials. These coatings are generally ionic and negatively charged which aides in the formation of hydrogen bonds with water. In medical devices, hydrophilic coatings are used to create lubricious surfaces which reduce the trauma and irritation caused by the insertion of a medical device into the body. Hydrophilic coatings also help prevent bacterial colonization of the medical device and thus help to reduce the possibility of infections.
Apart from the extensive usage in the medical industry, applications of hydrophilic coatings are also vast in fields such as automotive, aerospace, and construction. Thriving growth of these industries across key regional markets is expected to have a significant positive impact on the global demand for hydrophilic coatings in the next few years.
Transparency Market Research estimates that the market will exhibit a promising 8.8% CAGR over the period between 2017 and 2025, rising from a valuation of at US$481.6 mn in 2016 to US$1,026.6 mn in 2025.
Rising Scope of Use in Construction Sector to Provide Promising Growth Avenues
On the basis of application, the market for hydrophilic coatings has been classified in the report into automotive, aerospace, medical devices, optical, and building construction. Of these, the segments of medical devices and building construction are presently the key contributors of revenue to the global market, with the medical devices segment leading with a large margin in 2016. The medical devices segment is expected to continue its strong run over the report’s forecast period as well, chiefly owing to the vast rise in expenditure on high-end medical devices, rising disposable incomes in emerging economies and the consecutive rise in demand for better medical and healthcare facilities.
The application segments of automotive and aerospace, which presently hold nominal shares in the overall revenue collected by the global hydrophilic coatings market in 2016, are expanding at promising pace. These segments are expected to present promising growth opportunities before the global hydrophilic coatings market over the forecast period owing to the impending commercialization of several hydrophilic coating products used for windshields and windows.
Thanks to Well-established Healthcare Sector, North America to Retain Dominance
In terms of geography, the market for hydrophilic coatings in North America held the dominant share of over 35% in the global market in 2016. Demand for medical device coatings in North America is estimated to remain stable by the end of 2025 owing to technological developments in the recent past, providing vast scope for the development of the hydrophilic coatings market. Europe was the second-largest market for hydrophilic coatings in 2016. Europe is the leading consumer of flat glass products accounting for over a third of the global market. Use of self-cleaning coatings using hydrophilic constituents has been commercialized in this region since 2001. However, stringent governmental regulations and high material & labor costs are likely to impede growth of this market.
Asia Pacific is anticipated to witness the expansion of the hydrophilic coatings market at an excellent pace in the near future. China, Japan, and South Korea are expected to dominate the demand for hydrophilic coatings in Asia Pacific. Increasing urbanization and industrialization in several emerging countries in Asia pacific are expected to boost demand for hydrophilic coatings in this region.
Some of the leading vendors operating in the global hydrophilic coatings market are Surmodics, Inc., Royal DSM N.V., Hydromer, Inc., AdvanSource Biomaterials Corp., Covalon Technologies Ltd., BioCoat, Inc., and Harland Medical Devices.
Global Hydrophilic Coatings Market: Overview
Hydrophilic coatings are applied on a variety of substrates in order to reduce the coefficient of friction. These coatings can be used for medical as well as non-medical applications. Medical devices such as catheters, guidewires, syringes, needles and intravascular devices are coated with hydrophilic coatings in order to make the surface of these devices lubricious. Hydrophilic coating materials are also used to impart self-cleaning and anti-fogging properties to flat glass for applications in the building, automotive and aerospace industries. Increasing expenditure on better medical & healthcare facilities and growth in the construction industry is anticipated to provide lucrative opportunities to the hydrophilic coatings market during the forecast period.
Global Hydrophilic Coatings Market: Scope of the Report
This report analyzes and forecasts the market for hydrophilic coatings at the global and regional level. The market has been forecast based on revenue (US$ Mn) from 2017 to 2025, considering 2016 as the base year. The study includes drivers and restraints of the global hydrophilic coatings market. It also covers impact of these drivers and restraints on demand for hydrophilic coatings during the forecast period. The report also highlights opportunities in the hydrophilic coatings market at the global and regional level.
The report includes detailed value chain analysis, which provides a comprehensive view of the global hydrophilic coatings market. Porter’s Five Forces model for the hydrophilic coatings market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
Global Hydrophilic Coatings Market: Segmentation
The study provides a decisive view of the global hydrophilic coatings market by segmenting it in terms of substrates such as polymers, metals & metal alloys and glass & other ceramics and applications such as automotive, aerospace, medical devices, optical & others ( building etc.). These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for hydrophilic coatings in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides the actual market size of hydrophilic coatings for 2016 and estimated market size for 2017 with forecast for the next eight years. The global market size of hydrophilic coatings has been provided in terms of revenue. Market revenue is given in US$ Mn. Market numbers have been estimated based on key end-users of hydrophilic coatings. Market size and forecast for numerous end-users have been provided in terms of global, regional, and country level markets.
Global Hydrophilic Coatings Market: Research Methodology
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represented the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, Plastemart magazine, TPE magazine, internal and external proprietary databases, and relevant patent and regulatory databases such as ICIS, Hoover’s, OneSource, Factiva and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market.
We conduct primary interviews on an ongoing basis with industry participants and commentators to validate data and analysis. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
Global Hydrophilic Coatings Market: Competitive Dynamics
The report comprises profiles of major companies operating in the global hydrophilic coatings market. Key players in the hydrophilic coatings market are Surmodics, Inc., Royal DSM N.V., Hydromer, Inc., AdvanSource Biomaterials Corp., Covalon Technologies Ltd., BioCoat, Inc., and Harland Medical Devices. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The global hydrophilic coatings market has been segmented as follows:
Hydrophilic Coatings Market: Substrate Type Analysis
- Metal & Metal Alloys
- Glass & Other Ceramics
Hydrophilic Coatings Market: Application Analysis
- Medical Devices
- General surgery
- Others (Ophthalmology, gynecology, etc.)
- Others (including Buildings, etc.)
Hydrophilic Coatings Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- South Africa
- Rest of MEA