The global hydrophilic coatings market size is expected to reach USD 15.85 billion by 2027, growing at a CAGR of 5.7% over the forecast period 2020 to 2027.
Growing demand for hydrophilic coatings in application industries including medical devices and equipment, automotive, marine and optical owing to its diverse characteristics is expected to drive demand.
The medical devices & equipment segment is expected to grow at a CAGR of over 6.2% over the forecast period. The penetration of the segment is high on account of the utilization of the coating in the manufacturing of catheters, guidewires, syringes, and much more to ensure the efficient flow of blood and other liquids.
The growth of hydrophilic coating industry in the U.S. is expected to be in line with the growth of the medical device industry as the majority of the product in the country is used in the manufacturing of medical equipment. In addition, the demand in the U.S. is expected to witness growth owing to the development of new aerospace and defense projects.
The fluctuation in the prices of the raw materials directly affects the cost of manufacturing of the coatings. As different types of chemicals are crucial in determining the properties of the substrate on which the coating is to be applied, the stability in the prices of these chemicals aid in stabilizing the overall processing cost of the coatings.
The waviness in the appearance of the glass during the presence of water and lack of impact or scratch resistance of the coatings is expected to restrain market growth. In addition, the low shelf life of the product owing to low adhesion to surface characteristic is also likely to restrain market growth over the next nine years.
The demand for hydrophilic coatings on nanoparticles is expected to grow at a CAGR of 5.2% over the forecast period. The rapid development and utilization of nanotechnology and nanomaterials in application industries owing to their physical, optical, electronic, chemical, and biomedical characteristics is expected to drive the application of the product on nanoparticles.
The increasing application of aluminum substrate in the manufacturing of automobile components and medical equipment is anticipated to aid the use of the product on metals. The application of hydrophilic coated stainless steel foil for the improvement of fuel consumption in the automotive industry is likely to complement growth.
The automotive application segment is anticipated to grow at a CAGR of 5.6% contributing to over 21% of the market revenue in 2016. The utilization of coating on polymer, metal, and glass substrates in the industry is high. The coatings are applied to the glass of the windshield, mirrors of the vehicles. In addition, the polymer substrate coating is applied to the vehicle body.
The optical application segment is expected to witness a sluggish growth on account of the low utilization of the product in the industry. The optical coatings include hydrophobic and oleophobic along with hydrophilic coating. The growing application of hydrophobic coatings is expected to hamper the demand for hydrophilic coatings in the industry.
Asia Pacific is expected to be the fastest-growing market in terms of revenue, growing at a CAGR of over 6.2% from 2016 to 2025. The increasing production of medical devices in the region, coupled with rising investments in medical infrastructure expansion, is expected to propel demand. In addition, rising automotive production in the developing economies of the region is likely to complement demand.
Europe was the second largest market of the overall consumption, accounting over 25% of the overall demand in 2016. Europe market has been very dynamic post BREXIT. This is expected to have a negative impact on the coatings market as the UK is one of the major markets for the hydrophilic coatings. As a result, the manufacturers are reluctant to invest in Europe and are shifting their focus to the Middle East and Asia-Pacific.
Hydrophilic Coatings Market Share Insights
The companies operating in the industry market their products with customization services. As the chemical composition of the hydrophilic coatings changes on the basis of its application, the companies provide numerous technical services to the customers. In addition, the small-scale players cater to their local market with highly customized services and products.
Majority of the companies in the market are vertically integrated. This provides the companies with an improved product portfolio that accounts for higher sales. The companies also invest in the research and development activities to enhance the manufacturing efficiency by improving the preparation processes and lower the levels of VOC emissions.
Medical devices & equipment
Central & South America
Middle East & Africa
The Hydrophilic Coatings market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Hydrophilic Coatings market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Hydrophilic Coatings market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Hydrophilic Coatings market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Hydrophilic Coatings market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Hydrophilic Coatings capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Hydrophilic Coatings by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Hydrophilic Coatings market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Hydrophilic Coatings market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Hydrophilic Coatings market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Hydrophilic Coatings industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Hydrophilic Coatings market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Hydrophilic Coatings market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Hydrophilic Coatings market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Hydrophilic Coatings market. These factors have benefited the growth of the global market for Hydrophilic Coatings. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Hydrophilic Coatings. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Microcontroller are as follows:
History Year: 2016-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year 2020 to 2027
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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