The size of the global market for hydrophilic coatings was evaluated at USD 12,729.3 million in 2021 and is expected to increase at a CAGR of 5.7% during the projected period. Increasing demand for hydrophilic coatings is anticipated as a result of their varied properties in application industries such as medical devices and equipment, automotive, marine, and optical.
About the course of the projected period, the medical devices & equipment category is anticipated to expand at a CAGR of over 6.2%. Due to the coating’s use in the production of catheters, guidewires, syringes, and other products to ensure the effective flow of blood and other liquids, the segment has a high penetration rate.
The lack of impact or scratch resistance of the coatings and the waviness in the appearance of the glass when there is water present are projected to constrain market expansion. In addition, during the following nine years, market growth is projected to be constrained by the product’s short shelf life due to its poor surface adhesion.
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Over 21% of the market’s revenue is expected to come from the automotive application segment in 2016, which is projected to expand at a CAGR of 5.6%. The industry makes extensive use of coating on polymer, metal, and glass substrates. The coatings are applied to the windshield glass and the car’s mirrors. The car body is also covered in a polymer substrate layer.
Asia Pacific is anticipated to experience the fastest revenue growth between 2016 and 2025, with a CAGR of around 6.2%. Demand is anticipated to be boosted by rising investments in expanding the region’s medical infrastructure and rising output of medical gadgets. Additionally, increasing automotive manufacturing in the region’s developing economies is projected to support demand.
Insights on the Market for Hydrophilic Coatings
Companies in the sector sell their goods by offering customization services. Due to the fact that the chemical makeup of hydrophilic coatings varies depending on their use, businesses offer their clients a wide range of technical services. Additionally, the small-scale firms offer highly specialised services and goods to their local market.
Report’s Covered Segments
This study provides an analysis of the most recent market trends in each of the sub-segments from 2014 to 2025 and estimates revenue growth at the global, regional, and national levels. Grand View Research has divided the worldwide hydrophilic coatings report into segments based on substrate, application, and region for the purposes of this study:
- Medical devices & equipment
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- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa