Portland, OR -- (SBWire) -- 10/25/2017 --Global Hydrophobic Coatings Market was valued at $1,628 million in the year 2015, and is expected to reach $2,471 million by 2022, supported by a CAGR of 6.2% during the forecast period 2016 to 2022.
Hydrophobic coatings can be easily applied over any substrate such as glass, metal, wood, and plastic irrespective of its composition and can also be applied to complex geometries. These coatings in building & construction application segment holds the largest share in 2015 and this segment is expected to maintain its lead throughout the forecast period. The market in building & construction application segment is driven by rise in modernization and improved standards of living.
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The demand for hydrophobic coatings has increased owing to its exceptional properties such as resistant to water, corrosion, and abrasion; stable against bio-fouling, inorganic, and organic pollutants, and ability of self-cleanliness. The market has witnessed substantial growth during the past few years and is expected to grow at a CAGR of 6.2%, in terms of value. These coatings can be applied to any substrate, which increases their adoption over other coatings in several applications such as building & construction, automotive, aerospace, marine, and others. However, long-term maintenance instability is the major hindrance for market growth.
Key Findings of the Hydrophobic Coatings Market
* Hydrophobic coatings in building & construction application occupied the highest share in 2015 and is expected to grow at a CAGR of 7.0%, in terms of value.
* China is the leading consumer of hydrophobic coatings in Asia-Pacific, followed by India.
* U.S. is the leading market for hydrophobic coatings in the North American region, growing at a CAGR of 6.0%, in terms of value.
* The polysiloxane based hydrophobic coatings is expected to expand with the highest CAGR of 6.4%, in terms of value during the forecast period.
Recently, in April 2016, NEI Corporation launched a new anti-fog durable coating namely, NANOMYTE SAF-100, which provides resistance to oil, scratch, and corrosion. This product launch helped the company to expand its product portfolio and strengthen its market position. The prominent players profiled include 3M, BASF SE, Abrisa Technologies, Aculon, NEI Corporation, P2I, DuPont, DryWired, Accucoat Inc., Nanex Company, and Oerlikon Metco Inc.
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Hydrophobic Coatings Market - Industry Analysis and Growth Trends Highlights
The preparation process of hydrophobic coating requires sparse technical knowledge, which is leading towards high threat of forward integration by raw material suppliers to manufacture hydrophobic coatings.