Superhydrophobic Coatings Market Size, Share & Trends Analysis Report By Raw Material (Carbon Nanotubes, Silica Nanoparticles), By Property, By End Use, And Segment Forecasts, 2016 - 2024

Industry Insights

The global superhydrophobic coatings market size was valued at USD 5.8 million in 2015. Rising demand for consumer electronics with highly water-repellent properties to protect sensitive data and components is a key factor driving the market.

Superhydrophobic coatings can be applied to almost all surfaces regardless of their complex geometry or composition as they are inspired biometrically from natural sources such as the lotus leaf and desert beetle. Furthermore, technological developments have fostered the production of highly transparent coatings with high optical clarity, which are increasingly finding applications in non-fogging, self-cleaning displays, and materials.

Anti-microbial superhydrophobic surfaces are increasingly gaining popularity in the healthcare sector, on account of their water-resistance, impermeability, safety, and biocompatibility. Although hydrophobic coatings are vastly popular, superhydrophobic coatings are yet to be commercialized to such a large extent, since their production processes are comparatively sophisticated with high investment costs.

Other advantageous characteristics of the product such as adjustable water contact angles have also encouraged the development of water corrals for drug screening, combinational chemistry, biological studies, and related applications. Furthermore, the products currently manufactured are not durable and are unable to withstand rough handling or duress, which has limited their application in commercial or industrial purposes.

However, prices are subsequently likely to reduce over the forecast period as new players seek to commercialize. Technological innovations and product R&D efforts are currently underway by major organizations such as the Sandia Corporation and Rust-Oleum Company, which is further expected to provide lucrative opportunities for new market entrants.

Government regulations and global efforts to promote water conservation have also led to high reliance on self-cleaning technologies, which, in turn, is crucial to industry growth. Growing consumer awareness regarding the benefits of anti-wetting, anti-icing, and anti-microbial surfaces is likely to impact demand over the forecast period.

Major advantages and functionalities of these coatings include water-repellent, de-icing, anti-fouling, anti-microbial, self-cleaning, and anti-corrosion properties. However, these coatings are prone to erosion, degradation, and wearing off under duress and in high load-bearing conditions.

Major industries such as textiles and footwear are also actively commercializing and investing in superhydrophobic coatings to impart lasting waterproof properties. This, in turn, has made their products less prone to moisture damage and degradation from subsequent corrosion. Additionally, growing need for self-cleaning technologies, especially in the solar energy sector, to impart greater energy efficiency to panels is likely to be a major driving force in this arena over the forecast period.

Raw Material Insights

Carbon nanotubes are expected to maintain their lead in the industry on account of their unique mechanical, electrical, and thermal properties, in conjunction with their lightweight and hollow characteristics. The segment is expected to occupy 32.2% share of the overall volume by 2024. However, the material is most expensive to manufacture owing to complex production technologies, which is likely to hamper its growth over the forecast period.

Other raw materials such as calcium carbonate and oxide polystyrenes of manganese and zinc are expected to emerge as the fast-growing segments with a volume-based CAGR of 10.3% over the forecast period. These composites are highly durable as compared to gel-based coatings, which has fostered their demand in the global market.

Silica nanoparticles are likely to remain the most economically viable raw material on account of their low costs and wide availability. These gel-based types were conventionally the most favored raw material type, although development of more sustainable materials has led to a decline in their market share.

Property Insights

Anti-microbial coatings dominated the industry owing to high demand from the medical and healthcare sector. The segment is likely to expand at a CAGR of 9.1% over the forecast period. These extremely water-repellent surfaces reduce the risk of harboring deadly pathogens. Anti-microbial types are increasingly utilized to manufacture biocompatible, water-repellent surgical tools, medical devices, and nonwovens such as operating gowns and gloves.

Anti-wetting and anti-icing coatings are likely to emerge as key property segments and together account for a volume share of over 65.0% by 2024. Technological advancements and development of durable nanomaterials on stainless steel substrates are expected to emerge as vital determinants for the molding industry dynamics over the forecast period.

End-use Insights

The electrical and electronics industry emerged as a major consumer on account of growing demand for self-cleaning and water-repellent consumer electronics such as smartphones and others such as solar panels. The segment is expected to occupy 24.8% share of the overall revenue by 2024.

The medical and healthcare sector is anticipated to emerge as the fastest-growing segment, on account of rising demand for anti-microbial, superhydrophobic equipment, and materials. Other industries such as transportation and optical are also anticipated to provide lucrative opportunities for superhydrophobic coating manufacturers, owing to technological innovations that are likely to overcome the current migration and durability issues.

Regional Insights

North America led the global superhydrophobic coatings market owing to the presence of major companies that make high technological investments in the industry. Furthermore, economic recovery and increasing demand for advanced consumer electronics are other factors driving the regional market.

Asia Pacific is anticipated to witness the highest growth with a CAGR of over 10.2% over the forecast period, on account of inexpensive raw material at optimum quality and expanding electronics industry. Growing consumer awareness regarding the benefits of these coatings in automobiles, textiles, and food packaging is another factor driving the industry.

Central and South America also present lucrative opportunities for market participants, on account of several construction activities that took place in preparation for the Rio Olympics in 2016. Non-residential buildings such as sports complexes are ideal for application of these coatings to reduce corrosion, improve waterproofing, and promote sustainability.

Superhydrophobic Coatings Market Share Insights

Major industry players such as Rust-Oleum currently dominate the global market with industrial and consumer brands such as NeverWet, while newer market entrants are undertaking various R&D efforts to compete in the industry. The degree of competition has increased in recent years on account of rise in the emergence of domestic and international companies, focusing on developing products for the electronics and various other sectors.

Prominent industry players in the global market include P2i International Ltd.; UltraTech International Inc.; Lotus Leaf Inc.; NEI Corporation; NTT Advanced Technology; Hydrobead; Aculon; Pearl Nano; United Protec; DryWired; Advanced NanoTech Lab (India); Hirec Paints; and Surfectis Technologies.

Report Scope