Hydrophilic Coatings Market- Trends, Demand, Growth, Value & Analysis Report by Zion Market Research

SUITE N202, NEW YORK, UNITED STATES, January 19, 2023 /EINPresswire.com/ -- The global Hydrophilic coatings market was worth around USD 12,729.3 million in 2021 and is estimated to grow to about USD 17752.2 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.7 percent over the forecast period. The report analyzes the Hydrophilic coatings market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Hydrophilic coatings markets.

Hydrophilic coatings are used in multiple applications as these coatings increase lubricity and reduce surface tension which is important in multiple applications. These coatings have been especially popular in the healthcare industry and have widely been used for medical devices and this trend is projected to drive the Hydrophilic coatings market potential over the forecast period.

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Increasing spending on healthcare and rising research and development activity for the same is projected to prominently have a positive impact on the Hydrophilic coatings market growth through 2028. However, other industry verticals such as automotive and marine are also expected to see an increase in demand for Hydrophilic coatings in the coming years.

However, the high costs of these Hydrophilic coatings are expected to slow down the Hydrophilic coatings market growth in the long run. This factor will majorly influence the economies with low spending potential and hence restrain the global Hydrophilic coatings market from reaching its full potential.

Hydrophilic coatings companies are investing in research and development to provide affordable offerings and are focusing on expanding their business scope. Hydrophilic coatings companies are also launching new innovative products to increase their sales and are focusing on mergers and acquisitions to advance their market presence.

Global Hydrophilic Coatings Market

The pandemic of 2020 led to a downfall in the Hydrophilic coatings marketplace and this can be attributed to a number of factors such as the shift of focus in healthcare to just restraining the coronavirus infection spread. The production facilities across the world were shut down and this also resulted in a negative trend for the Hydrophilic coatings market growth in 2020.

The Hydrophilic coatings market is expected to make a comeback in the post-pandemic era at a steady pace owing to rising demand from the medical devices industry across the world. The Hydrophilic coatings market is projected to see steady growth over the forecast period.

The global Hydrophilic coatings market is segregated based on substrate, end user, and region. Based on application, the global market is distinguished into Medical Devices, Optics, Automotive, Aerospace, Marine, and Others. Most of the demand for Hydrophilic coatings is expected to come from the medical devices segment and is expected to drive the Hydrophilic coatings market growth through 2028. Increasing demand for medical devices and rising focus on patient care are expected to boost the adoption of Hydrophilic coatings in this segment. An increase in demand for Hydrophilic coatings is also expected to be seen in the marine and automotive sectors over the forecast period.

Asia Pacific region is expected to hold a dominant outlook in the global Hydrophilic coatings industry and is expected to hold this stance through 2028. Increasing focus on healthcare, rising demand for medical devices, and increasing sales of vehicles are some major factors that are influencing the Hydrophilic coatings market growth through 2028. China is expected to be the most lucrative market for Hydrophilic coatings owing to rising sales of automobiles and a highly efficient production infrastructure. Marine and automotive industries in China are expected to boost sales of Hydrophilic coatings. India is also expected to see a hike in demand owing to rising healthcare expenditure.

Key players functioning in the global Hydrophilic coatings market include Royal DSM (the Netherlands), Biocoat, Inc. (U.S.), Aculon Inc. (U.S.), Advasource Biomaterials Corporation (U.S.), Hydromer, Inc. (U.S.), Corning, Inc. (U.S.), Surmodics Incorporated (U.S.), AST Products, Inc. (U.S.), and Abbott Laboratories Inc. (U.S.)

Recent developments:

In November 2021, Transcontinental Advanced Coatings a manufacturer of high quality coatings announced the launch of its new Total Care product portfolio that utilizes ultra-thin polyurethane films for multiple healthcare and medical devices applications such as ostomy devices, advanced wound care dressings, etc.

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Global Hydrophilic coatings market is segmented as follows:

By Substrate

Polymers
Glass/Ceramics
Metals
Nanoparticles
Others
By End user

Medical Devices
Optics
Automotive
Aerospace
Marine
Others
By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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