Research Nester assesses the growth and Market size of the global Hydrophobic Coatings Market which is anticipated to be on account of the growing need for building construction and the rising production of plastic products.

Growing Demand for Automobiles to Promote Global Market Share of Hydrophobic Coatings

The global hydrophobic coatings market is estimated to grow majorly on account of the increased demand and production of automobiles. Around 80 million automobiles were produced worldwide in 2021, representing a 1% increase over 2020. Moreover, the number of automobiles produced in the United States is predicted to exceed 15 million in 2023, a 1 million vehicle increase. Furthermore, retail sales of new cars are forecast to grow 4% year on year to over 1 million in December, as inventories continue to rise. Hydrophobic coatings, such as ceramic coatings, are used to provide a seal or top layer to the vehicle, which aids in the preservation of the paintwork. Moreover, it also provides a shield against acid rain, harmful UV rays, snow and ice, dirt, grime, and grease. Other than vehicles, hydrophobic coating also prevents ice from freezing on the aluminum body of aircraft and reduces wettability.

On the other hand, rising instances of surgical procedures, and growing demand for safety kit for patients is likely to augment the market growth. The hydrophilic coating is designed to reduce friction during catheter insertion, minimizing the risk of urethral damage and preventing bacterial growth. Furthermore, the catheter is frequently utilized for patients undergoing crucial surgery. As a result, growing surgical procedures are expected to drive market expansion. Every year, millions of people receive surgical therapy, with surgical therapies accounting for an estimated 13% of total disability-adjusted life years worldwide, according to the World Health Organization.

Some of the major growth factors and challenges that are associated with the growth of the global hydrophobic coatings market are:

Growth Drivers:

Surge in Plastic-Made Product’s Production
Rise in the Building Construction
Challenges:

Low understanding about selecting the proper substrate for applying hydrophobic coatings and the risk of coating degradation are some of the major factors anticipated to hamper the global market size of hydrophobic coatings. Coatings are susceptible to degradation caused by physical wear & tear, UV radiation, or abrasive particles. Mechanical wear also has an impact on the micro- and nanostructures of the coating. Moreover, the superhydrophobic characteristics are reduced when the hydrophobic coating deteriorates or the surface roughness is lost. Besides this, considering these goods have the potential to cause risks, especially when manufactured in close proximity to human homes. The regulation for non-biodegradable and chemically tested products is more rigorous than ever. Manufacturers are required to comply with the new law by changing the composition, substrate, and raw material, or by moving to different goods. As a result, the difficulty that producers experience in meeting legal regulations is likely to stifle market expansion.

By end-user, the global hydrophobic coatings market is segmented into automotive, electronics, building & construction, marine, textiles, healthcare, aerospace, oil & gas, food & beverages, and others. The automotive segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The segment’s expansion can be attributable to increased automotive production. Automobile hydrophobic coatings are a sort of protective layer applied to a vehicle’s paint or other exterior surfaces. Vehicles with hydrophobic coatings generate a waterproof seal. They apply a seal or covering to your vehicle, comparable to a ceramic coating, to help maintain the paintwork. They’re great at resisting water and grime, which makes washing your car easier. In 2021, approximately 67 million cars were sold globally, with over 66 million sold in 2022. Furthermore, car sales are expected to exceed 70 million by the end of 2023.

By region, the Asia Pacific hydrophobic coatings market is to generate the highest revenue by the end of 2035. The market’s expansion can be ascribed mostly to rising home demand and increased construction activity. The total number of new residences beginning construction in Japan in 2021 is estimated to be around 870,000 units, representing a 7% increase over 2020. Furthermore, construction of approximately 404 thousand detached residences in Japan began in 2022. Furthermore, there is a considerable demand for housing in India, and residential releases have been very frequent in recent years. Around 328 thousand housing units were launched in the Indian residential market in 2022. On the other hand, market growth in the region is predicted due to increased car production.

This report also provides the existing competitive scenario of some of the key players of the global hydrophobic coatings market which includes company profiling of BASF SE, AkzoNobel N.V., PPG Industries, 3M, Nippon Paint Holdings Co., Ltd., DuPont de Nemours, Inc., Corning Incorporated, GVD Limited, NEI Corporation, and Coat-X SA.

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