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Hydrophobic Coatings Market Size

Report ID: GMI2919
Published Date: Sep 2022
Report Format: PDF

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Hydrophobic Coatings Market Size

Hydrophobic Coatings Market size was recorded at over USD 1.8 billion in 2021. Driven by soaring demand for medical equipment, the industry is expected to grow at more than 5.5% CAGR from 2022 to 2030.

Hydrophobic Coatings Market Outlook

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Hydrophobic coatings help in repelling water deposition on the surface, making products anti-absorbent. The growing number of construction projects around the world as a result of rapid migration and urbanization, especially in Asia’s emerging economies, will support market growth.

Governments from developing nations are implementing initiatives to improve the economic state of the country, which is positively impacting the overall market statistics. For Instance, in December 2021, Indian researchers from the International Advanced Research Centre for Powder Metallurgy & New Materials (ARCI) developed super-hydrophobic coatings that can enhance the corrosion resistance of stainless steel. The team examined the innovation and aims to use it in industrial applications in marine, machinery, electronic parts, piping, power, and nuclear sectors.

Hydrophobic Coatings Market Report Attributes
Report Attribute	Details
Base Year:	2021
Hydrophobic Coatings Market Size in 2021:	1,875 Million (USD)
Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	5.5%
2030 Value Projection:	3,090 Million (USD)
Historical Data for:	2017 to 2021
No. of Pages:	563
Tables, Charts & Figures:	877
Segments covered:	Product (Substrate, Property, Applications)
Growth Drivers:	Asia Pacific: Growing construction in the region North America: Growing medical equipment market in the region owing to extensive presence of hospitals and public health institutions Europe: Well established automotive industry in the region is anticipated to fuel product demand
Pitfalls & Challenges:	High cost, risk of damage during application, and health concern

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The expanding automotive industry as a result of increasing disposable income and changing lifestyle choices will also boost the hydrophobic coatings market forecasts. The firms in the field are majorly engaging in consistent research and development activities and entering into strategic mergers, acquisitions, and partnerships to strengthen their market position. Private and public investment for product penetration in varied applications will also elevate the strategic landscape of the industry.

Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

The market size for hydrophobic coatings was valued at over USD 1.8 billion in 2021 and is set to progress at a CAGR of over 5.5% through the forecast period.

The polysiloxanes by automotive application segment was worth more than USD 63 million in 2021 and is anticipated to progress at over 6.5% CAGR over the forecast period owing to increased expenditure on R&D.

The fluoropolymers segment is slated to grow at around 6.5% CAGR through the review timeline as a result of their widespread application in the medical, electronics & electrical, automotive, and transportation industries.

The Asia Pacific hydrophobic coatings industry is poised to garner more than USD 1 billion in revenue by the end of 2030 as a result of the growing industrialization and the presence of large automobile manufacturing companies in the APAC region.