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Hydrophobic Coatings Market 2014: Regional Growth Drivers, Opportunities, Trends, and Forecasts to 2022
Hydrophobic Coatings Market to Reach $2,471 Million, Globally by 2022
Global Hydrophobic Coatings Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $2,471 million by 2022, registering a CAGR of 6.2% during the period 2016-2022. Building & Construction application segment is expected to remain the highest revenue-generating segment throughout the forecast period. Asia-Pacific held the leading position in the global hydrophobic coatings market in 2015, and is expected to maintain its lead throughout the study period.
Recently, in April 2016, NEI Corporation launched a new anti-fog durable coating namely, NANOMYTE SAF-100, which provides resistance to oil, scratch, and corrosion. This product launch helped the company to expand its product portfolio and strengthen its market position. The prominent players profiled include 3M, BASF SE, Abrisa Technologies, Aculon, NEI Corporation, P2I, DuPont, DryWired, Accucoat Inc., Nanex Company, and Oerlikon Metco Inc.
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Hydrophobic coatings can be easily applied over any substrate such as glass, metal, wood, and plastic irrespective of its composition and can also be applied to complex geometries. These coatings in building & construction application segment holds the largest share in 2015 and this segment is expected to maintain its lead throughout the forecast period. The market in building & construction application segment is driven by rise in modernization and improved standards of living.
The demand for hydrophobic coatings has increased owing to its exceptional properties such as resistant to water, corrosion, and abrasion; stable against bio-fouling, inorganic, and organic pollutants, and ability of self-cleanliness. The market has witnessed substantial growth during the past few years and is expected to grow at a CAGR of 6.2%, in terms of value. These coatings can be applied to any substrate, which increases their adoption over other coatings in several applications such as building & construction, automotive, aerospace, marine, and others. However, long-term maintenance instability is the major hindrance for market growth.
In the year 2015, building & construction was dominant, in terms of value, occupying 25% market share. Hydrophobic coatings also protect the building against aggressive environmental agents such as freeze/thaw attack, and provides resistance from corrosion and abrasion, which increases their adoption, especially in the building & construction application. Hydrophobic coatings in automotive application segment occupied around one-firth share in 2015, in terms of value, in the global hydrophobic coatings market.
Key Findings of theHydrophobic Coatings Market
- Hydrophobic coatings in building & construction application occupied the highest share in 2015 and is expected to grow at a CAGR of 7.0%, in terms of value.
- China is the leading consumer of hydrophobic coatings in Asia-Pacific, followed by India.
- U.S. is the leading market for hydrophobic coatings in the North American region, growing at a CAGR of 6.0%, in terms of value.
- The polysiloxane based hydrophobic coatings is expected to expand with the highest CAGR of 6.4%, in terms of value during the forecast period.
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Asia-Pacific accounted for the largest share in the global hydrophobic and superhydrophobic coatings market in 2015 and is expected to maintain its leading position. This is attributable to increase in building & construction and automotive segment and improvement in economy. China is the fastest growing country for the consumption of hydrophobic coatings, which is expected to continue this dominance.
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