The market size of hydrophobic coatings is estimated to be 10,022.5 tons in 2017 and is projected to reach 13,099.0 tons by 2022, at a CAGR of 5.5% between 2017 and 2022. The major companies profiled in this market research report include Drywired (US), BASF SE (Germany), PPG Industries (US), The 3M Company (US), NeverWet (US), and NEI Corporation (US). The concrete substrate segment of the hydrophobic coatings market is projected to register the highest CAGR between 2017 and 2022.
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“The hydrophobic coatings market is projected to register a CAGR of 5.5% between 2017 and 2022.”
The market size of hydrophobic coatings is estimated to be 10,022.5 tons in 2017 and is projected to reach 13,099.0 tons by 2022, at a CAGR of 5.5% between 2017 and 2022. Increased demand for hydrophobic coatings from the automotive, aerospace, building & construction, marine, textiles, electronics and medical end-use industries are expected to drive the hydrophobic coatings market, globally.
Hydrophobic coatings are water repellent coatings, and some of the advantages of applying hydrophobic coatings include decreased dirt retention, self-clean ability, and corrosion resistance. Environmental regulations could be a major restraint for the hydrophobic coatings industry.
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“Automotive is expected to be the largest end-use industry during the forecast period.”
Automotive is expected to be the largest end-use industry of hydrophobic coatings during the forecast period. Hydrophobic coatings are used on windshields, headlamps, mirrors, and windows for improved visibility by 30-40% thereby reducing the number of accidents.
This is expected to increase the usage of hydrophobic coatings in the automotive industry. In addition, increasing vehicle sales are expected to drive the demand for these coatings in the automotive industry.
“The concrete substrate type is projected to register the highest CAGR during the forecast period.”
The concrete substrate segment of the hydrophobic coatings market is projected to register the highest CAGR between 2017 and 2022. The growth of the concrete segment is driven by their use in building and constructions.
Hydrophobic coatings are used on concrete to avoid its expansion, cracking, scaling, and crumbling. These hydrophobic coatings protect the concrete surface by increasing the angle of contact between the water droplet and concrete surface.
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“The APAC hydrophobic coatings market is projected to register the highest CAGR during the forecast period.”
The growth of the APAC hydrophobic coatings market can be attributed to the rapidly increasing demand from the automotive, aerospace, building & construction, marine, textiles, electronics, and medicals industries. This high growth is due to the increasing demand for vehicles, increasing innovations in the aerospace industry, and increasing start-ups in the medical devices manufacturing sector of APAC.
Extensive primary interviews have been conducted to determine and verify the market size for several segments and subsegments.
The breakdown of primary interviews has been given below.
- By Company Type: Tier 1 –20%, Tier 2 – 55%, and Tier 3 – 25%
- By Designation: C Level – 50%, Director Level – 25%, and Others – 25%
- By Region: North America – 60%, Europe – 20%, APAC – 10%, Middle East & Africa-5%, and South America– 5%
The major companies profiled in this market research report include Drywired (US), BASF SE (Germany), PPG Industries (US), The 3M Company (US), NeverWet (US), and NEI Corporation (US).
This research report has categorized the hydrophobic coatings market on the basis of sub strategy type,end-use industry, and region. It includes detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the market.
A detailed analysis of the key players has been done to provide insights on their business overviews, products & services, and key strategies, such as expansions and mergers & acquisitions, adopted by them to strengthen their position in the hydrophobic coatings market.
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The report is expected to help market leaders/new entrants in this market in the following ways:
- This report comprehensively segments the hydrophobic coatings market and provides the closest approximations of the market sizes for the overall market and its sub segments across different regions.
- The report is expected to help the stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
- This report is also expected to help the stakeholders understand major competitors in the market and gain insights to enhance their competitive positions in the market. The competitive landscape section includes major industry players from different regions, contributing to the market. The landscape consists of the top 15 companies ranked and grouped, based on their competency parameters, such as geographical presence, recent strategic developments, patents filed, and the number of employees.