Hydrophilic Coatings Market Size, Share & Trend Analysis Report By Substrate (Polymers, Glass, Metal, Nanoparticles), By Application (Automotive, Medical, Marine), And Segment Forecasts, 2018 - 2025

Industry Insights

The global hydrophilic coatings market size was estimated at USD 9.32 billion in 2016, growing at a CAGR of 5.2% over the forecast period. 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 the 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 the 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.

Substrate Insights

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.

Application Insights

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 sluggish growth on account of the low utilization of the product in the industry. The optical coatings include hydrophobic and oleophobic along with the hydrophilic coating. The growing application of hydrophobic coatings is expected to hamper the demand for hydrophilic coatings in the industry.

Regional Insights

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 for 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.

Recent Developments

• In April 2022, Harland Medical Systems, Inc., a leader in medical device coatings industry, globally announced the launch of the CTS1100 Coating Thickness Testing System. The CTS1100 is a groundbreaking testing technology that enables medical device makers to precisely and conveniently quantify the coating thickness of their products.

• In April 2022, Biocoat, Inc. announced its business expansion in the development, design, and delivery of hydrophilic dip coating equipment. The EMERSE equipment line from Biocoat is available to businesses that need an in-house dip coating system to complete the production of their medical devices.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global hydrophilic coatings report on the basis of substrate, application, and region:

• Substrate Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)

  • Polymers

  • Glass

  • Metal

  • Nanoparticles

  • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)

  • Aerospace

  • Automotive

  • Marine

  • Medical devices & equipment

  • Optical

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)

  • North America

    • The U.S.

  • Europe

    • Germany

    • The U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa