A new report published by Allied Market Research titled, "Hydrophobic Coatings Market by Material, Fabrication Method, Application, and Region - Global Opportunity Analysis and Industry Forecast, 2014-2022", projects that the world hydrophobic coatings market is expected to reach $2,471 million by 2022 from $1,628 million in 2015 with a CAGR of 6.2% from 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.
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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.
As Per
Eswara Prasad, Team Lead Chemicals & Materials at Allied Market Research,
"The preparation process of hydrophobic coating requires sparse technical
knowledge, which is leading towards high threat of forward integration by raw
material suppliers to manufacture hydrophobic coatings"
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.
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Key findings of the study
·
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.
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.
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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