Market Overview
The global Superhydrophobic Coating Market 2022 is estimated to reach a 15.9% CAGR growth forecast period 2018-2023.
Market Highlights
The development of the global superhydrophobic coating market is led by rapid adoption in the electronics industry as they shield sensitive electronic parts from water damage. Superhydrophobic coatings extend the life of the product and reduce the extent of water damage, thus saving costs. These coatings also provide features that are anti-fingerprint, self-cleaning and anti-soiling. With the growing demand for gadgets worldwide, the use of superhydrophobic coatings is expected to increase during the forecast period. In addition, major industries such as textiles and footwear are actively marketing and investing in superhydrophobic coatings to deliver lasting waterproof properties. This, in turn, has made their products less prone to damage to the moisture and subsequent corrosion degradation. In addition , the growing need for self-cleaning technologies to impart greater energy efficiency to panels, especially in the solar energy sector, is likely to be a significant driving force in this arena over the forecast period.
Subsequently, though, prices are likely to decrease over the forecast period as new players seek to market. Major organisations such as the Sandia Corporation and the Rust-Oleum Company are currently engaged in technological innovations and product R&D efforts, which are further expected to provide lucrative opportunities for new market entrants.
Government policies and global initiatives to expand water conservation have also resulted in a high reliance on self-cleaning technologies which, in turn, are crucial to the growth of the industry. Growing awareness among consumers about the benefits of anti-wetting, anti-icing and anti-microbial surfaces is likely to affect demand over the forecast period.
Segmental Analysis
The global superhydrophobic coating market has been analysed by property end-use industry, raw material, and region.
Based on the raw material, the market has been divided into graphene, carbon nanotubes, silica nanoparticles, and others.
Based on the property, the market has been segmented into anti- non-wetting, anti-corrosion, microbial, and others.
Based on the end-use industry, the superhydrophobic coating market share has been segregated into medical, electricals and electronics, transportation and allied logistics, construction, optical, and textiles and leather.
Regional Analysis
Based on the region, the market has been segregated into Asia-Pacific, Latin America, Europe, North America, and the Middle East & Africa.
Asia-Pacific is assessed as the largest share of the superhydrophobic coating industry in 2018; the regional market is anticipated to register the highest CAGR over the forecast period due to rapid growth in China , India and other APAC countries in the electronics and construction industries.
Due to the involvement of major industry players with substantial investment and economic growth, North America is now a prominent market for superhydrophobic coatings, resulting in increased consumer electronic demand. Canada's technological textile industry has seen rapid growth in recent years, owing to its multiple applications in various end-user sectors such as aerospace, building and infrastructure, maritime, medical, defence, education , transportation, and farming. Since superhydrophobic coatings have different applications in the industrial textiles sector, The demand for Canadian superhydrophobic coatings is expected to see considerable growth over the projected period.
The European market is also expected to expand during the projected period with the growing use of superhydrophobic coatings in Germany and the UK.
With the growing demand for cars and electronics, the Latin American superhydrophobic coating market is experiencing considerable expansion.
The Middle East & Africa market is also expected to expand during the review period, due to the rapid growth of infrastructure in the region.
Competitive Dashboard
Some of the eminent players in the global superhydrophobic coating market are UltraTech International Inc. (US), P2i International Ltd (US), NEI Corporation (US), United Protective Technologies (US), NeverWet (US), Advanced NanoTech Lab (India), Hydrobead (US), Lotus Leaf Inc. (Mexico), Rust-Oleum (US), Aculon (US), and Excel Coatings (India).
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