Market Overview: The global hydrophilic coating market had a size of USD 9.05 Billion in 2022 and is projected to reach USD 16.12 Billion by 2032, with a rapid revenue Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period. The market growth is primarily driven by the increasing demand for hydrophilic coatings across various industries, including automotive, medical devices, and building construction.
Hydrophilic coatings are used to reduce surface friction and enhance lubricity. They typically consist of a cross-connected polymer covering that readily absorbs fluid upon contact.
Capacity of hydrophilic coatings to stop water damage and improve building durability is rising demand for them in the building and construction sector. Concrete, bricks, and other construction materials are coated with hydrophilic compounds to make them water-resistant and reduce water seepage.
Furthermore, increasing emphasis on environmental sustainability is another factor driving market revenue growth. Environment-friendly hydrophilic coatings are water-based and free of dangerous chemicals. Need for hydrophilic coatings is expected to increase as a result of limits on use of hazardous chemicals and increasing focus on sustainable solutions.
However, high cost of these coatings relative to regular coatings and availability of alternatives, such as Super Hydrophobic Coatings, are major factors, which could restrain market revenue growth. In addition, development of competing technologies such as Nano coatings, is another factor, which could restrain market revenue growth.
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Further key findings from the report suggest
- Based on the substrates, nanoparticle substrates generated a revenue of USD 01.82 billion in 2019 and expected to rise with a CAGR of 7.2% in the forecast period attributable to its mechanical, physical, chemical, electrical, and biomedical characteristics, the rapid growth and use of nanotechnology and nanomaterials in device industries.
- The colloidal silica-based coatings expected to grow with a CAGR of 7.1% in the forecasted period, due to the increasing demand for other alternatives in products, including paints and coatings, fabrics, and pigment, such as silica gels and silica sols.
- The automotive application is the major contributor to the Hydrophilic Coating Market. The automotive sectors of North America region are the major shareholder of the market and held around 30.0% of the market in the year 2019, owing to the industry's growing usage of coating on rubber, metal, and glass substrates for applying on windshield glass, vehicle mirrors.
- North America dominated the market for Hydrophilic Coating in 2019. The persistent emphasis of the area on cost-effective and creative methods being implemented in the sector drives the business. North America region held approximately 32.7% of the market, followed by the Asia Pacific, which contains around 28.8% market in the year 2019.
- Key participants include BioInteractions Inc., Koninklijke DSM, Surface Solution Group, Surmodics, Telefax Inc., Aculon Inc., Applied Medical Coatings, Hydromer Inc., Corning Incorporated, and Surmodics Incorporated, among others.
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