Global Superhydrophobic Coatings Market - Segmented by Product Type, Application, and Geography - Growth, Trends and Forecasts (2018 - 2023)
The global superhydrophobic coatings market is estimated to witness a CAGR of 34% during the forecast period, 2018-2023. By region, Asia-Pacific is expected to lead the market, owing to the presence of inexpensive raw materials of optimum quality and expanding electronics industry. By product type, carbon nanotube-based coatings are to dominate the market.
Increasing Demand for Waterproof Electronics from Consumers
The usage of superhydrophobic coatings in the electronics industry is increasing due to their capability to protect sensitive electronics’ parts from water damage. The application of superhydrophobic coatings results in fewer returns, less rework, cost savings, and flexibility for the consumers. These coatings are known for imparting anti-fingerprint, anti-fouling, self-cleaning, anti-corrosion, and anti-soil properties to the gadgets. With the increasing demand for gadgets across the globe, the usage of superhydrophobic coatings is expected to increase.
Carbon Nanotube-based Coatings to Own Higher Share
Carbon nanotube-based superhydrophobic coatings are expected to dominate the market due to their superior mechanical, electrical, and thermal properties. A superhydrophobic surface is created with the functionalization of hydrophobic polytetrafluroethylene (PTFE) with nanotubes. These PTFE-coated carbon nanotubes impersonate nature’s design. The coatings based on carbon nanotube are environmentally stable, thermally robust, conductive coatings that can withstand high thermal shocks and high temperature.
Asia-Pacific to Lead among Other Regions
Asia-Pacific is expected to lead the market supported by the presence of low-cost raw materials of fine quality and a growing electronics industry. The growing awareness among the consumers in the region is also to act as a driver in increasing the demand for superhydrophobic coatings. The usage of these coatings in the automotive, textiles, and food packaging industries is going to be the other factor to drive the market in the region.
Notable Developments in the Market
February 2018: Scientists found a simple method to produce superhydrophobic coatings for aluminum related to marine and medical applications.
April 2017: A team of researchers from the University of Michigan developed a self-healing, water-repellant coating that is hundred times more durable than its already-
existing counterparts. The researchers believe that this development may help enable waterproof vehicle, clothing, rooftop, and other surfaces – something that current hydrophobic coatings struggle with, due to their fragility.
Major Key Players PPG Industries, AkzoNobel N.V., RPM International, Inc., Sherwin-Williams Company, Nippon Paints, amongst others.
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Analyzing various perspectives of the market with the help of Porter’s five forces analysis
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Countries expected to witness the fastest growth during the forecast period
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