An increasing number
of players in the Superhydrophobic
Coatings Market are at various stages in
their R&D efforts while several others are expected to launch
innovative and advanced products in the near future. Transparency
Market Research (TMR) observes that this has intensified the degree
of competition among international as well as domestic players and is
likely to push the global superhydrophobic coatings market to expand
at a double-digit growth rate from 2016 to 2024.
P2i Limited, Cytonix, LLC, The Sherwin-Williams Company, DryWired,
LLC, UltraTech International, Inc., Sto Group, Surfactis
Technologies, Nanex Company, NTT Advanced Technology Corporation, NEI
Corporation, Lotus Leaf Coatings, Inc., Rust-Oleum Corporation,
Aculon, Inc., and Artekya Ltd. are some of the prominent players in
the global superhydrophobic coatings market.Get PDF Brochure for more Professional and Technical insights :
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“In the past, most of the companies
have focused on the electronics and telecommunication, building and
construction, and textiles and leather industries to expand their
product portfolio. However, an increasing number of vendors are also
finding opportunity in the medical and healthcare, oil and gas, and
automotive sectors,” a TMR analyst has observed.
Rising Demand from Consumers
for Waterproof Electronics Presents Key Opportunities
The global superhydrophobic coatings
market attributes its exceptional growth to the large-scale
development of the global electronics and telecommunication industry.
Superhydrophobic coatings are widely used in the electronics and
telecommunication industry as they are thermally stable and can be
easily applied on the surface. They are also highly capable of
protecting sensitive electronic parts that are easily susceptible to
water damage. “The rising demand from consumers for electronic
products with water-repelling surfaces is anticipated to present
significant scope for players in the superhydrophobic coatings market
in the next few years,” the author of the report states.
“The growth of the global
construction industry, coupled with the increased demand for the
usage of composite materials in the construction industry will also
provide immense opportunities for vendors in the superhydrophobic
coatings market,” the TMR analyst predicts. Superhydrophobic
coatings have extensive potential in the building and construction
sector as they offer the required temperature resistance and provide
effective barriers against water and microbes. Companies such as
UltraTech International Inc. and The Sherwin- Williams Company are
some of the leading players manufacturing superhydrophobic coatings
for the construction industry.
In contrast, stringent government
regulations pertaining to coating ingredients and formulations have
been enforced in several developed countries in North America,
Europe, and Asia Pacific and this is likely to adversely impact the
superhydrophobic coatings market over the course of the forecast
period.
Unprecedented Growth in Store
for Superhydrophobic Coatings Market
TMR states that the opportunity in the
superhydrophobic coatings market is anticipated to rise from US$2.90
mn in 2015 to be worth US$37.1 mn by 2024 at an impressive 34.3% CAGR
during the forecast period. By volume, the superhydrophobic coatings
market is likely to expand at a CAGR of 37.3% from 2016 to 2024. In
terms of demand, the electronics and telecommunication sector led the
superhydrophobic coatings market in 2015, with a share of
approximately 32.0%. The segment is anticipated to retain its lead
throughout the forecast period. The textile and leather segment, on
the other hand, will expand at the highest CAGR from 2016 to 2024.
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By volume, North America is a key
contributor to the growth of the global superhydrophobic coatings
market and in 2015, led the overall market. Asia Pacific is predicted
to exhibit the fastest growth from 2016 to 2024.
This review is based on the findings
of a TMR report titled “Superhydrophobic Coatings Market:
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
2016 - 2024.”
Superhydrophobic Coatings
Market, by End Use
-
Electronics & Telecommunication
-
Building & Construction
-
Textile & Leather
-
Automotive
-
Medical & Health Care
-
Others (Power Generation, Optical, etc.)
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