The market size of hydrophobic coatings is estimated to grow from 10,022.5 tons in 2017 to 13,099.0 tons by 2022, at a CAGR of 5.5%. Superior properties of hydrophobic coatings are driving the market. The growing use of hydrophobic coatings in the automotive, aerospace, medical, marine, electronics, building & construction, and textiles industries is also driving the hydrophobic coatings market, globally.
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Expansions and new product launches together accounted for the major share of all growth strategies adopted by the leading players in the hydrophobic coatings market between December 2013 and December 2017. BASF SE, (Germany ), Drywired (US), PPG Industries (US), The 3M Company (US), Nippon Paint (Japan), and Neverwet (US) are the major players in the market.
BASF SE offers hydrophobic coatings through its coatings division of the functional materials & solutions segment. In December 2017, the coatings division inaugurated a new automotive coatings plant at its Bangpoo manufacturing site, Samutprakarn province. This is the first automotive coatings manufacturing facility in Thailand that will produce waterborne and solvent borne automotive coatings to meet the increasing demand. This expansion will help the company to meet the growing demand for coatings in the automotive industry.
PPG Industries, founded in 1883, offers hydrophobic coatings for aerospace applications through its performance coatings business division. In November 2015, PPG Industries introduced new–design windshields for Hawker 800 series aircraft. The new-design windshields have a reliable anti-icing system, higher visible light transmittance, and hydrophobic coating for better pilot visibility during wet conditions.
NeverWet offers hydrophobic coatings for different industries such as construction, marine, medical, automotive, oil & gas, and electronics. The company provides hydrophobic coatings for substrates such as glass, fabric, and metals. In February 2016, the company introduced Neverwet glass/rain repellent. It is a hydrophobic water repellent product that significantly improves driving visibility during wet conditions. This product has helped the company to expand its market in the automotive and residential glass business.
Hydrophobic coatings are also termed as water repellent coatings. They have a water contact angle of 90° or higher.The hydrophobic coatings market is projected to record a CAGR of 5.5 %, from 10,022.5 tons in 2017 to 13,099.0 tons by 2022.
The formulations of hydrophobic coatings are based on polysiloxanes, fluoro alkyl silanes, nanocomposites, and fluoropolymers. Hydrophobic coatings are applied on various substrates such as polymers, glass, ceramics, and metals due to their strong oxidizing and bleaching characteristics. They are used in different end-use industries such as automotive, building & construction, aerospace, medical, marine, and textiles.
Growing demand from end-use industries and superior properties of hydrophobic coatings are driving the hydrophobic coatings market. However, environmental regulations restrain the market growth. Stringent and time-consuming regulatory policies are seen as a major challenge in the hydrophobic coatings market.
The concrete substrate segment is projected to register the highest CAGR during the forecast period. Hydrophobic coatings are used on concrete to avoid expansion, cracking, scaling, and crumbling, and thereby making concrete more durable. They protect the concrete surface by increasing the angle of contact between the water droplet and concrete surface. Increasing private investments and rapid urbanization are driving the construction industry. This, in turn, is expected to drive the hydrophobic coatings market in the concrete substrate segment.
The growth of the automotive end-use industry in APAC has increased the demand for hydrophobic coatings. The presence of technologically advanced countries, such as China, South Korea, and Japan and significantly developing automotive, electronics, medical, and aerospace industries in majority of the countries in the region are driving the hydrophobic coatings market. Many automobile manufacturers are setting up or expanding their manufacturing bases in this region to take advantage of the low manufacturing cost. The gradual rise in senior population (mainly in Japan), rising income levels of the middle-class people (especially in India and China), and increasing government investments are driving the demand for hydrophobic coatings in the region. In addition, improved lifestyle, high cost of living, rising population, and high economic growth of countries such as China, South Korea, India, and Malaysia have increased the spending power of consumers, resulting in affordability of products with higher prices and better quality. All these factors make APAC an attractive hydrophobic coatings market.
