Hydrophobic Coatings Market Size expected to reach $3.0 billion by 2030

According to a new report published by Allied Market Research, titled, "Hydrophobic Coatings Market by Material, Fabricated Method, Type, and Application: Global Opportunity Analysis and Industry Forecast, 2020-2030,"

The global hydrophobic coatings market was valued at $2.0 billion in 2020, and is projected to reach $3.0 billion by 2030, growing at a CAGR of 4.2% from 2021 to 2030. Hydrophobic coatings are applied to a variety of surfaces and thus render them water repellent.

Hydrophobic coatings are a form of nanotechnology, which are used in various industrial domains such as buildings & construction, medical & healthcare, aerospace, marine, automotive, electronics, textiles, and consumer goods. It is applied over wide range of products and materials which are used in the above mentioned industrial domains. Hydrophobic coatings are made from a variety of materials such as polysiloxanes, fluoropolymers, fluroalkysilanes, and others, depending on the intended use. These coatings are fabricated using various methods such as chemical vapor deposition, phase separation, sol gel process, electrospinning, and etching. 

The global hydrophobic coatings market is growing at a considerable pace, driven by factors such as rise in the adoption of hydrophobic coatings across various industrial domains. Increased utilization of hydrophobic coatings in catheters and guidewires and surge in demand for anti-corrosive coatings in automotive, aerospace, and marine structures are the several factors that boost the demand in the hydrophobic coatings market. Stringent government policies and laws for handling the associated chemicals and lack of awareness pertaining to the compatibility between substrate type and coating are expected to hamper the growth of hydrophobic coatings in the global market.

The spread of COVID-19 increased the demand for hydrophobic coatings from the pharmaceutical & medical devices sector and hospitals. Multinational companies had to face lockdown restrictions in different countries and this hindered manufacturing operations during the pandemic. Procurement of raw materials was challenging owing to the disruption in logistics. The COVID-19 spread in China and around the world impacted the production capacity of the hydrophobic coatings required for various manufacturing industries. This has positively impacted the demand for hydrophobic coatings. The rise in the demand for various medical and healthcare related products during the outbreak of pandemic has boosted the demand for the hydrophobic coatings market.

The hydrophobic coatings market is segmented into material, fabrication method, type, application, and region. 

Depending on material, the global hydrophobic coatings market is categorized into polysiloxanes, fluoroalkylsilanes, fluoropolymers and others. In terms of value, the polysiloxanes segment accounted for the largest share in 2020. By fabrication method, the market is fragmented into chemical vapor deposition, phase separation, sol gel process, electro spinning, and etching. In terms of value, chemical vapour deposition segment accounted for the largest share in 2020. By type, the market is divided into anti-corrosion, anti-microbial, anti-icing, self-cleaning, anti-fouling, and others. In terms of value, anti-corrosion segment accounted for the largest share in 2020.  By application, the market is segmented into building & construction, electronics, automotive, textiles, consumer goods, medical & healthcare, and others. In terms of value, medical & healthcare segment accounted for the largest share in 2020.

Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the largest share of the market in 2020. The major companies profiled in this report include 3M, E. I. du Pont de Nemours and Company, Aculon Inc., BASF SE, P2i, ABRISA TECHNOLOGIES, NEI Corporation, DRYWIRED, ACCUCOAT INC., Oerlikon Metco (US) Inc, and NANEX COMPANY.

In addition to the above mentioned companies, there are Ross Technology, Uniliver N.V., PPG industries and United Technologies Corporation that are competing for the share of the market through product launch, joint venture, partnership, and expansion of the production capabilities to meet the future demand for hydrophobic coatings during the forecast period.

Impact Of Covid-19 On The Global Hydrophobic Coatings Market

• Emergence of COVID-19 had less impact on the growth of the global hydrophobic coatings market during this period.
• This impact is mostly attributed to the significant disruptions in the raw material transportation, presence of low-labor, led to shutdown of many manufacturing industries led to decline of demand for hydrophobic coatings during this period.
• The decrease in demand for many non-essential products and shut down of construction has created a negative impact on the development of global hydrophobic coatings market.
• Thus, the abovementioned factors are expected to have negative impact the global hydrophobic coatings market growth during the pandemic period.

Key Findings Of The Study

• By region, Asia-Pacific accounted for the largest market share in 2020.
• By material, polysiloxanes segment holds the largest market share in 2020.
• By fabrication method, chemical vapour deposition segment holds the largest market share in 2020.
• By type, anti-corrosion segment holds the largest market share in 2020.
• By application, medical & healthcare segment holds the largest market share in 2020.