Global Hydrophilic Coatings Market Segmentation, By Substrate (Polymers, Glass/Ceramics, Metals, Nanoparticles, Others), End Users (Medical Devices, Automotive, Optics, Aerospace, Marine, Others) – Industry Trends and Forecast to 2031
Hydrophilic Coatings Market Analysis
Over the last few years, the coatings business has experienced tremendous growth due to its expanding use in the automotive and medical industries. In addition, the vehicle industry has experienced rapid expansion, which has considerably boosted the market. In 2018, 95,634,593 automobiles were produced, according to the International Organization of Motor Vehicle Manufacturers (OICA). The hydrophilic coatings market will continue to flourish in the future due to the automobile industry's preparedness for a seismic shift brought on by increased production rates. The sector will experience a certain rise in demand, and growing revenues over the forecasted period.
Hydrophilic Coatings Market Size
Global hydrophilic coatings market size was valued at USD 14.65 billion in 2023 and is projected to reach USD 25.18 billion by 2031, with a CAGR of 7.00% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Hydrophilic Coatings Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Key Market Players
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Eternal Materials Co., Ltd. (Taiwan), Wacker Chemie AG (Japan) and DIC CORPORATION (Japan), Aculon. (U.S.), Biocoat Incorporated. (U.S.), Harland Medical Systems, Inc. (U.S.), Hydromer (U.S.), AdvanSource Biomaterials Corporation (U.S.), Surmodics, Inc. (U.S.), DSM (Netherlands), AST Products, Inc. (U.S.), Abbott. (U.S.), Dow (U.S.), Sono-Tek Corporation. (U.S.), FSI Coating Technologies, Inc. (FSI) (U.S.), APPLIED MEDICAL COATINGS (U.S.), Precision Coating Company, Inc (U.S.)
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Market Opportunities
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Hydrophilic Coatings Market Definition
Hydrophilic coatings absorb water and swell upon contact with water or any other aqueous fluid. The hydrophilic coatings are the wet surfaces that provide excellent compatibility with water and bodily fluids and improve the lubricity and feel during surgical, minimally invasive procedures.
Hydrophilic Coatings Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- High Usage for Medical Purposes
The hydrophilic coatings are extensively used across medical industries. The hydrophilic coatings or hydrogels with 3D cross-linked networks can hold many antimicrobial agents and release them locally in a controlled manner and also provide enhanced outcomes in minimally invasive procedures. This reduces the infection and thrombosis related diseases. Hydrogels can be coated on to the substrates via dip coating, spray costing, spin coating and other methods. Various polymers involved in this process include polyvinyl alcohol, polyethylene glycol, ethylene glycol di-acrylate and others. These are also employed in the medical devices for enhanced functioning parameters. These technical innovations and beneficiary factors are driving the growth of the market over the forecasted period.
- Rising population and urbanization
The expansion of end use industries coupled with the increase in urbanization and population, will further propel the growth rate of hydrophilic coatings market. Additionally, the rapid urbanization and industrialization in emerging countries, such as India, China, and Southeast Asia, will drive market value growth.
Opportunities
- Regulations boosting Demand for VOC-free Coatings
The favorable initiatives by government associated with environmental regulations to increase demand for VOC-free coatings, will further extend profitable opportunities to the market players in the forecast period of 2022 to 2029. The European Commission and other federal government agencies create new laws and regulations, such as the Eco-product Certification Scheme (ECS). These regulations guarantee low or no harmful VOC emissions and a green and sustainable environment. In order to produce more environmentally friendly coatings, these regulations encourage coating-related companies to invest in bio-based raw materials. Government regulations in the US and Western Europe, especially those pertaining to air pollution, will also continue to support the use of cutting-edge, low-pollution coating technology.
Restraints/Challenges
- Stringent Approval Process
The coatings manufacturers must enhance their manufacturing and production processes per the regulatory policies imposed by various governments. These stringent policies further result in more time for approval, which will create hindrances for the growth of the hydrophilic coatings market.
- Fluctuations in Raw Material Prices
The inconsistent raw material prices have a direct negative impact on the overall market’s growth. As a result, these fluctuations will pose as a major challenge the hydrophilic coatings market growth rate.
This hydrophilic coatings market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the hydrophilic coatings market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Hydrophilic Coatings Market
The recent outbreak of coronavirus had a negative impact on the hydrophilic coatings market. It seriously damaged the market due to the disruption of production activities and supply chains across the chemical industries due to the lockdown restrictions. The market faced disruption in supply chains, lesser availability of workforce, fluctuations in prices and availability of raw materials, which hampered the market largely. However, with the gradual upliftment of restriction and restoration of business operations, the overall coatings industry is expected to grow steadily. Also, the market is estimated to revive as individual regulatory bodies relax these enforced lockdowns. The suspended and canceled operations will continue, and the market is estimated to expand.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Hydrophilic Coatings Market Scope
The hydrophilic coatings market is segmented on the basis of substrate and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Substrate
- Polymers
- Glass/Ceramics
- Metals
- Nanoparticles
- Others
End Users
- Medical Devices
- Automotive
- Optics
- Aerospace
- Marine
- Others
Hydrophilic Coatings Market Regional Analysis
The hydrophilic coatings market is analyzed and market size insights and trends are provided by substrate and end users as referenced above.
The countries covered in the hydrophilic coatings market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance due to the increasing use of hydrophilic coatings in various applications within the region.
Asia-Pacific is estimated to show lucrative growth over the forecast period of 2022-2029, due to the rising awareness regarding the growing benefits and introduction of major automotive OEM’s within the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Hydrophilic Coatings Market Share
The hydrophilic coatings market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hydrophilic coatings market.
Hydrophilic Coatings Market Leaders Operating in the Market Are:
- Eternal Materials Co., Ltd. (Taiwan)
- Wacker Chemie AG (Japan)
- DIC CORPORATION (Japan)
- Aculon. (U.S.)
- Biocoat Incorporated. (U.S.)
- Harland Medical Systems, Inc. (U.S.)
- Hydromer (U.S.)
- AdvanSource Biomaterials Corporation (U.S.)
- Surmodics, Inc. (U.S.)
- DSM (Netherlands)
- AST Products, Inc. (U.S.)
- Abbott. (U.S.)
- Dow (U.S.)
- Sono-Tek Corporation. (U.S.)
- FSI Coating Technologies, Inc. (FSI) (U.S.)
- APPLIED MEDICAL COATINGS (U.S.)
- Precision Coating Company, Inc (U.S.)
Latest Developments in Hydrophilic Coatings Market
- In 2020, Royal DSM, leading global solutions supplier confirmed the completion of its acquisition of Glycom, world’s leading supplier of Human Milk Oligosaccharides for an enterprise value of USD 833.31 to gain a competitive market share by the company.
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