San Francisco, 23 October 2018:
According
to a report published by Grand View Research, Inc.; the hydrophilic
coatings market is expected to reach a valuation of around USD
17.74 billion by 2025.
Increasing demand in
automotive and medical application can propel the market during the forecast
period (2014 to 2025).
Demand for product is high in
medical devices and equipment industry. These coatings form a lubricious
surface, which reduces stiction in medical devices and minimizes the chances of
infection. This is expected to boost the product demand in the coming years.
These coatings are extensively used in making of mirrors and windshield of the
vehicles. The surface wettability of materials helps to ensure the safety and
comfort of the drivers in hostile weather conditions. Additionally, these
coating creates a decent water run-off, therefore used in evaporators of
automotive systems. This is expected to increase its demand in automobiles.
Worldwide hydrophilic coatings
market can be segmented on the basis of substrate and application. As per
substrate, the market can be classified into polymers, glass, metal,
nanoparticles, and others.
The nanoparticles segment is
expected to grow at a CAGR of 5.2% during the forecast period. Increasing
developments and use of nanotechnology and nanomaterials in application
industries dur to their greater physical, chemical, electronic, biomedical, and
optical characteristics is likely to drive the segment growth. The polymer
substrate estimated for 34.7% of the revenue share in 2016 due to their low
cost and characteristics such as versatility, lightweight, high durability, and
flexibility. The aluminum segment is expected to grow on account of growing use
in manufacturing of automobile components and medical equipment. In 2016, the
demand for the coatings for glass substrate segment was valued at USD 1,665.5
million due to use of hydrophilic glass in the manufacturing of optical lenses,
mirrors, eyeglasses, and instruments applicable in humid environments.
Access Research Report of Hydrophilic Coatings Market @:
Based on application, the
market can be categorized into automotive, aerospace, optical, medical devices
and equipment, marine, and others.
The medical devices and
equipment segment is anticipated to expand a CAGR of over 6.2% during the
projected period. These coatings are highly useful in manufacturing of
guidewires, catheters, and syringes. In 2016, automotive segment estimated for
21% share of total revenue. This segment is likely to grow at a CAGR of 5.6%
during the forecast period. Use of these coatings on metal, glass, and polymer
substrate in this industry. These coatings are applied to mirrors, glass of
windshield, and vehicle body. The optical segment is expected to show slow
growth due to its less utilization. Increasing application of hydrophobic
coatings is expected to hinder the growth of the segment and market. The aerospace
segment is anticipated to grow at a CAGR of 4.6%. These coatings are applied on
aircrafts for creating a smooth outer surface and providing additional
protection.
Geographically, the market can
be divided into North America, Asia Pacific, Europe, Central and South America,
and Middle East & Africa.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
Asia Pacific is anticipated to
exhibit rapid growth in terms of revenue with a CAGR of over 6.2% during 2016
to 2025. Factors such as increasing investment in the development of medical
infrastructure, rise in manufacture of medical devices can have positive impact
on the market. In addition, growing production of automotive in emerging
countries such as India and China are expected to boost the product demand in
this region.
In 2016, Europe reported as
the second largest market and is estimated for over 25% of overall market. The
market becomes dynamic after BREXIT and expected to have negative impact on the
market. Since the U.K. is one of the attractive markets for these products. The
manufacturers are also shifting their focus on other regions such as Asia
Pacific and Middle East.
Some of the leading companies
operating in the market include Abbott Laboratories Inc.; Corning Inc.;
Biocoat, Inc.; Harland Medical Systems Inc.; and Aculon, Inc.
The major participants in the
market provides customized services. Since the chemical composition of these
coatings changes according to its application.
Access Press Release of
Hydrophilic Coatings Market @: www.grandviewresearch.com/press-release/global-hydrophilic-coatings-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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