Hydrophilic Coatings Market
Hydrophilic Coatings Market (Substrate Type - Polymers, Metals and Metal Alloys, and Glass and Other Ceramics; Application - Automotive, Aerospace, Medical Devices (Cardiovascular, Urology, Neurology, and General Surgery), Optical, and Buildings) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Press Release :
Global Hydrophilic Coatings Market: Snapshot
Hydrophilic coatings help eliminating small droplets formed as a result of condensation, thus offering better durability, transparency, abrasion and chemical resistance, and UV resistance. It is due to this property that the demand for hydrophilic coatings is considerably rising across diverse industries such as automotive and construction. Also, in the coming years the market is likely to witness lucrative prospects spurred by radical expansion of the medical device market. As per Transparency Market Research (TMR), the demand for hydrophilic coatings is likely to rise in consumer electronics on account of rising application in smartphones, displays, projectors, and LED. Furthermore, the rising use of anti-fog coatings in the manufacturing windows, protective sunglasses, consumer electronics, watches, and commercial freezers. Spurred by increasing application across diverse industries, the global hydrophilic coatings market will exhibit growth at a steady pace.
TMR projects the global hydrophilic coatings market to reach US$1,026.6 mn by 2025, from US$481.6 mn in 2016. Considering these values to be true, the global hydrophilic coatings market will exhibit a CAGR of 8.8% between 2017 and 2025.
Demand from Medical Device and Building Construction Segments Forecast to Rise Considerably
In terms of application, the global market can be segmented into medical devices, automotive, aerospace, building construction, and optical. Of these, the demand from building construction and medical devices segment is projected to rise significantly in the coming years. TMR also projects the medical devices segment to exhibit a strong run in the market over the forecast period. The rising willingness to spend on high-performing medical devices to offer improved patient care, coupled with the rising demand for advanced healthcare, and the rising disposable income of people across the world will drive the segment in the coming years.
Furthermore, the demand from aerospace and automotive segments are expected to rise in the coming years. Considering growth opportunities it is likely to witness in the coming years, TMR predicts a promising future for the global hydrophilic coatings market. Also commercialization of products using hydrophilic coatings will create lucrative growth prospects for the market.
North America Offers Lucrative Growth Prospects
Regionally, North America held dominance in the global hydrophilic coatings market. According to TMR, the region held nearly 35% of the global market in 2015. The rising demand for coatings in the medical sector is expected to support the steady growth of the market in North America. Also adoption of the latest technological advancements will ascertain stable growth of the market. In addition to this, the rising demand for flat glass products will boost the hydrophilic market in Europe. Also the region is likely to exhibit high demand for self-cleaning coatings. Commercialization of this variant will in turn create growth opportunities for the market. On the flip side, stringent regulations imposed by governments and high labor and material costs may restrain the hydrophilic coatings market to an extent. Besides this, Asia Pacific is likely to offer high growth opportunities to the market. The rising demand from Japan, South Korea, and China will support the market’s expansion in Asia Pacific.
Some of the leading players operating in the global hydrophilic coatings market are Hydromer, Inc., Surmodics, Inc., AdvanSource Biomaterials Corp., BioCoat, Inc., Royal DSM N.V., Covalon Technologies Ltd., 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:
Substrate Type Analysis