Hydrophobic coatings have properties that make surfaces water repellent and are commonly applied to various materials and surfaces. They are widely used in automotive paints to prevent water spots and frost buildup on painted surfaces. Hydrophobic coatings effectively protect surfaces from moisture damage and corrosion. The global Hydrophobic Coatings Market is estimated to be valued at US$ 1.02 Mn in 2023 and is expected to exhibit a CAGR of 11.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing demand from the automotive industry has propelled the hydrophobic coatings market in recent years. Hydrophobic coatings are increasingly used for automotive paints, bumpers, windshields and other exterior automotive parts to enhance visibility during rainy or foggy conditions. They offer various advantages like maintaining clear visibility, reducing cleaning needs and protecting against water spotting and corrosion. Increasing automotive production across major markets like Asia Pacific and Europe is driving the need for hydrophobic coatings to improve aesthetics and durability of vehicles on the road.
SWOT Analysis
Strength: Global Hydrophobic Coatings Market Size are highly effective in repelling water and other liquids thus protecting surfaces from damages. They find wide usage in construction, automotive and consumer goods industries.
Weakness: Application of hydrophobic coatings require specialized skills and equipments. Additionally, maintaining uniformity of coating thickness poses challenges.
Opportunity: Growing construction industry and infrastructure development projects across emerging economies offer significant growth opportunities. Increasing penetration of smartphones and wearable devices also presents an opportunity.
Threats: Availability of alternative surface protection solutions and fluctuating raw material prices are key threats. Strict environmental regulations pertaining to solvent-based coatings is another threat.
Key Takeaways
The global hydrophobic coatings market is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: Asia Pacific region currently dominates the global market and is expected to maintain its lead position over the forecast period. This can be attributed to strong growth of end-use industries such as construction and automotive in China, India and other ASEAN countries. North America and Europe are other major regions for hydrophobic coatings market driven by well-established construction sector and high consumer spending on electronic goods.
Key players operating in the hydrophobic coatings market are Sharp Corporation, Apple Inc., Sony Corporation, ASUSTEK Computer Inc., and LG Electronics. They account for around 60-65% share of global revenue. Sharp Corporation and Apple Inc. have established leading positions in coating technologies for OLED displays and touch panels used in smartphones, laptops and TVs. Sony Corporation targets electronic coatings for camera lenses, while ASUSTEK and LG focus on laptops and home appliances segments respectively.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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