by Hydrophobic coatings are thin films or surfaces that repel water and liquids. They have self-cleaning properties and find wide application in construction, automotive and aerospace industries where corrosion resistance of substrates is important.
The global Hydrophobic Coatings Market is estimated to be valued at US$ 1.2 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
Increasing demand for durable and corrosion-resistant coatings from end-use industries such as construction, automotive and aerospace is a major factor propelling growth of the global hydrophobic coatings market. Hydrophobic coatings protect surfaces from moisture, rain, and snow, thus reducing maintenance and repair costs for industries over the lifetime of coated products. They are increasingly being used to coat building exteriors, vehicle components and aircraft parts to improve durability. Rapid industrialization and infrastructure growth especially in developing economies has further augmented the need for hydrophobic coatings.
SWOT Analysis
Strength: Hydrophobic coatings have strong resistance to water and oil mixtures which makes these coatings suitable for applications in marine and harsh industrial environments. Their hydrophobic nature makes them ideal for self-cleaning surfaces.
Weakness: The manufacturing process of some hydrophobic coatings can be complex and expensive. Also, they have limited durability and their hydrophobic performance decreases with time requiring reapplication.
Opportunity: Growing demand from end-use industries like automotive, construction and textiles due to their water-repellent and self-cleaning properties offer significant growth opportunities. Increasing research towards developing more durable and cost-effective hydrophobic coatings also presents an opportunity.
Threats: Availability of substitute products like waterborne coatings and easy-clean coatings can hamper the demand for hydrophobic coatings. Stringent environmental regulations regarding the use of certain chemicals in coatings manufacturing pose a threat.
Key Takeaways
The global Hydrophobic Coatings Market Demand is expected to witness high growth over the forecast period. The global Hydrophobic Coatings Market is estimated to be valued at US$ 1.2 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. .
The North American region currently dominates the market owing to high demand from various end-use industries in the US and Canada. Major players are focused on the Asia Pacific region due to the presence of developing countries like China and India offering high growth potential. Raw material and skills availability along with low production costs attract manufacturers to set up facilities in the region.
Key players
Key players operating in the hydrophobic coatings market are 4d Molecular Therapeutics, LLCAbeona Therapeutics Inc., Advaxis, Adverum Biotech, Aevi Genomic, Applied Genetic Technologies Corporation (AGTC), Alcyone Lifesciences, Allife Medical Science and Technology, Amarna Therapeutics, American Gene Technologies, Amgen, Amicus Therapeutics, Anchiano Therapeutics, AnGes MG, Apic Bio, Armata Pharmaceuticals, Arrowhead, Arthrogen, Asklepios, Astellas, AVROBIO, BCM Families Foundation, Beijing Northland, Benitec, Biogen, BioMarin, Biosidus, bluebird bio, Boryung Group, Brain Neurotherapeuticsy Bio, Celsion Corporation, Chiesi, CRISPR Therapeutics, CSL Behring, Daewoong Pharma, Dicerna, Editas Medicine, Eiger BioPharmaceuticals, Enzo Therapeutics, Esteve, Evox Therapeutics, Expression Therapeutic, Fibrocell, Flexion Therapeutics, Fortress Biotech, Freeline Therapeutics, Gene Biotherapeutics
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
