July 13, 2024

The Rise Of Self-Cleaning Surfaces Is Anticipated To Openup The New Avenue For Hydrophobic Coatings Market

Market Overview:

Hydrophobic coatings, also known as water-repellent coatings, are nanocoatings applied on surfaces to provide water repellency. They find applications in various industries such as automotive, aerospace, textiles, construction and electronics. In automotive, hydrophobic coatings are used to prevent dirt, pollution and moisture from adhering to car exterior. In textile industry, these coatings are applied on fabrics, shoes and other apparels to make them water resistant. In electronics, hydrophobic coatings help in preventing moisture damage to circuits and ensure longer life of devices.

The Hydrophobic Coatings Market is estimated to be valued at Us$ 1.2 Mn in 2023 and is expected to exhibit a CAGR Of 6.1% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Increasing automotive production globally is a major driver for the hydrophobic coatings market. As per International Organization of Motor Vehicle Manufacturers, around 95 million vehicles were produced in 2019. Growing electronics industry is another factor fueling the market growth. Hydrophobic coatings prevent damage to circuits from moisture and help electronics functioning smoothly for longer duration. Additionally, rising demand for waterproof and stain resistant apparels is also expected to drive the market during the forecast period. However, stringent environmental regulations around solvent-based coatings may hamper the market growth. Ongoing R&D for eco-friendly hydrophobic coatings without use of fluorinated compounds can provide new opportunities in coming years.

Segment Analysis

The hydrophobic coatings market is segmented into polysiloxanes, polytetrafluoroethylene (PTFE), perfluorinated alkoxy polymer (PFA), and others. The polysiloxanes segment dominated the market with a share of over 30% in 2023 due to its high water repellency and self-cleaning properties. Polysiloxanes strongly repel water and oil, making them suitable for glass, building exteriors and automotive applications.

PEST Analysis

Political: The market is positively impacted by government initiatives and regulations for green construction and environment friendly materials.

Economic: The growing economy and increasing disposable incomes are driving demand for outdoor activities, automotive, and consumer goods which is fueling market growth.

Social: Rising consumer preference for self-cleaning and anti-fouling products is creating opportunities for hydrophobic coatings across several end-use industries.

Technological: Advancements in nanotechnology have enabled development of more durable and long-lasting superhydrophobic coatings with better adhesion and corrosion resistance.

Key Takeaways

The Global Hydrophobic Coatings Market Demand is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing use in construction and automotive industries. The market size for 2023 is US $1.2Mn.

On a regional level, Asia Pacific dominated the market and is expected to grow at the fastest rate during the forecast period. This can be attributed to rapid industrialization, infrastructure development and automotive production in China and India.

Key players operating in the Hydrophobic Coatings market are 3M, E. I. du Pont de Nemours and Company, Aculon Inc., BASF SE, P2i, ABRISA TECHNOLOGIES, NEI Corporation, DRYWIRED, ACCUCOAT INC., OerlikonMetco (US) Inc, and NANEX COMPANY. These players are focusing on new product launches and partnerships to gain competitive advantage in the market.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it