The hydrophilic coating market size is projected to be valued at US$ 17,810 Mn in 2022 and is expected to rise to US$ 31,300 Mn by 2032. The sales of hydrophilic coating are expected to grow at a significant CAGR of 5.8% during the forecast period. Some of the factors propelling the demand for hydrophilic coating are:
The market for hydrophilic coatings is being driven by the increased demand for controlled lubricity of medical device surfaces.
The adoption of hydrophilic coatings as anti-fog agents in car components such as windshields and rear-view mirrors is likely to drive market expansion even further.
In ophthalmology, hydrophilic coatings are used to reduce catastrophic rupture and incision size when installing intraocular lenses (IOLs).
As hydrophilic coatings minimize kinematic friction between covered vessels and water surfaces, they are in high demand in the maritime sector.
Hydrophilic Coating Market Value (2022)
US$ 17,810 Mn
Hydrophilic Coating Market Forecast Value (2032)
US$ 31,300 Mn
Hydrophilic Coating Market CAGR (2022-2032)
5.8%
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Increasing Adoption of Hydrophilic Coating for Medical Purposes to Open New Revenue Streams for Manufacturers
The medical industry employs hydrophilic coatings extensively. In addition to holding a variety of antimicrobial agents and releasing them locally in a regulated manner, hydrophilic coatings or hydrogels with 3D cross-linked networks can also improve the results of minimally invasive operations. As a result, thrombosis and infection-related disorders are decreased. Hydrogels can be applied to the substrates using a variety of techniques, including spin coating, spray coating, and dip coating.
Polyvinyl alcohol, polyethylene glycol, ethylene glycol diacrylate, and other polymers are among those used by major healthcare companies. Furthermore, hydrophilic coatings are also being used in medical equipment for improved operating parameters. Over the anticipated period, the market is expected to increase as a result of these technological advancements and favorable factors.
Favorable Government Initiatives to Drive Demand for VOC-free Coatings
The expansion of the market is likely to be facilitated by the positive government efforts linked to environmental rules that are likely to boost demand for VOC-free coatings. New rules and regulations are made by the European Commission and other federal government bodies, such as the Eco-Product Certification Scheme (ECS). Low or no toxic VOC emissions are guaranteed by these laws, as well as a green and sustainable environment.
These restrictions encourage businesses involved in coatings to spend money on bio-based raw ingredients to manufacture more ecologically friendly coatings. The application of cutting-edge, low-pollution coating technology is likely to be supported by governmental rules in the US and Western Europe, particularly those that deal with air pollution.
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Companies to Offer Customized Hydrophilic Coatings to Cover Large Portion of the Market
Companies in the business sell their products by offering customized services. As the chemical composition of hydrophilic coatings varies depending on their use, the firms offer a wide range of technical services to their clients. Furthermore, small-scale firms provide highly specialized services and goods to their local market.
Majority of the market's firms are vertically integrated. This offers the companies a better product portfolio, which contributes to increased revenue. Companies also engage in research and development to increase production efficiency by enhancing preparatory procedures and lowering VOC emissions.
Hydrophilic coatings are wettable and low friction coating applied to the medical devices such as guide wires, catheters and cannulas. It reduces the occurrences of inflammation and damage caused by the medical devices, when they are used on a patient.
These coatings exhibit water attracting characteristics. Hydrophilic coatings reacts on water and produces hydrogel material, which are lubricious and wettable and suitable for biological interactions. They are also used in optical devices such as camera windows, outdoor surveillance, outdoor displays etc.
Hydrophilic coatings are used in automotive parts such as body for glazing and rear-view mirrors as an anti-fog agent. In October 2016, Surmodics, Inc. launched new series of hydrophilic coatings named Serene coatings. They can be used on different substrates of medical devices used in clinical areas such as peripheral, coronary, neurovascular etc.
Hydrophilic Coating Market: Drivers and Restraints
The conventional lubricative coatings such as silicone oils and glycerine, which are used instead of hydrophilic coatings have many disadvantages, which is the major driver for the growth of global hydrophilic coating market.
These coatings get separated from the medical equipment, when being used and reduces the lubrication causing discomfort and high injury risk. Hydrophilic coatings are used wide range of applications ranging from automotive, medical devices, optical devices etc., which is expected to drive the consumption of this type of coatings.
Automotive manufacturers are continuously striving to enhance the safety and performance of the vehicle. Hydrophilic coating has significant role in improving the safety precautions and overall look of the vehicle, which is anticipated to boost the growth of global hydrophilic coating market.
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Hydrophilic Coating Market: Region Wise Outlook
The global hydrophilic coating market can be divided into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA).
North America and Western Europe account for significant share in global hydrophilic coatings market. This is attributed to the mature automotive and healthcare industry in these regions. Western Europe and North America account for more than half of the total share in global coatings market, which is anticipated to boost the growth of hydrophilic coatings market in these regions.
APEJ is expected to register high CAGR over the forecast period. The rise in investments in healthcare industry is expected to propel the growth of hydrophilic coatings market in the region. Emerging clusters such as China and India exhibit rapid growth in automotive industry, which is anticipated to increase consumption of hydrophilic coatings.
Japan accounted for major share in innovative medical devices industry and is considered as an electronics hub. The automotive sector is also growing at a fast pace and hence the hydrophilic coatings market is projected to register significant CAGR during the forecast period.
Hydrophilic Coating Market: Key Players
Some of the key players in the global hydrophilic coating market are as follows:
Aculon, Inc.
Koninklijke DSM N.V.
Surface Solutions Group, LLC
Surmodics, Inc.
Teleflex Incorporated
Harland Medical Systems
BioInteractions Ltd
Pangolin Medical
Henniker Plasma
DONTECH, INC.
Henkel AG & Co. KGaA
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
The report covers exhaustive analysis on
Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Regional analysis includes
North America (U.S., Canada)
Latin America (Mexico, Brazil, Rest of Latin America)
Western Europe (EU5 countries, Nordic, BENELUX, Rest of Western Europe)
Eastern Europe (Poland, Russia, Rest of Eastern Europe)
APEJ (China, India, ASEAN, Australia & New Zealand)
Japan
MEA (GCC Countries, S. Africa, N. Africa, Rest of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Hydrophilic Coating Market: Segmentation
On the basis of application, the global hydrophilic coating market can be segmented as follows:-
Medical Equipment
Optical Devices
Automotive
On the basis of substrate, the global hydrophilic coating market can be segmented as follows:-
Metals
Stainless Steel
Nickel
Platinum
Zinc
Others (Titanium, Aluminium)
Glass/ Ceramics
Borosilicate Glass
Porcelain
Polymers
Nylon
Kevlar
Polyesters
Polyamides
Others (Polycarbonate, Polysiloxanes)
Nanoparticles
Frequently Asked Questions
What is the Growth Outlook for Hydrophilic Coating Market?
The market is likely to register a CAGR of 5.8% through 2032.
What is the Current Valuation of the Market?
The market is currently valued at US$ 31,300 Mn in 2022.
How is the Future of the Market?
The market is likely to grow to a valuation of US$ 17,810 Mn by 2032.
Which is the Leading Region in the Market?
North America is likely to be a leading market during the forecast period.
