Wilmington, Delaware, United States, Jan. 12, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global superhydrophobic coatings market is projected to expand at a CAGR of 34.1% from 2021 to 2031. Rapid adoption of superhydrophobic coatings in various waterproofing applications can be ascribed to their environment-friendly nature. Rise in utilization of superhydrophobic coatings in building & construction, automotive, telecommunication, and electronics industries is expected to fuel growth opportunities for manufacturers of these coatings.
Companies in the superhydrophobic coatings industry strive to gain revenue by offering functional coatings to meet the demands in the textile and leather industry. According to TMR’s superhydrophobic coatings market outlook, the products are becoming popular as cost-effective coatings which are used in self-cleaning textiles meant for military unforms. In other apparel, these coatings exhibit excellent resistance against dirt and dust. Moreover, the coatings have remarkable water-repellent property, and hence are applied on the surfaces of consumer electronics and automotive components.
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Key Findings of Study
- Rise in Usage of Superhydrophobic Coatings in Multiple Industries to Drive Revenue: Superhydrophobic coatings are gaining traction owing to their numerous attractive functional properties. They are considered as versatile coatings due to their suitability in a wide range of surfaces including concrete, masonry, ceramics, and composite substrates. Their superior waterproofing properties are extensively utilized in the electronics & telecommunication industry. Surge in demand is likely to accelerate superhydrophobic coatings market development. The superhydrophobic coatings market research found that the electronics & telecommunication segment held around 32.0% share in 2020.
- Increase in Adoption of Superhydrophobic Coatings in Waterproof Applications: Rise in demand for superhydrophobic coatings in the construction industry is fueled by utilization of cost-effective waterproof coatings in residential and commercial buildings. They are extensively used in a wide range of exterior and interior construction, including floors, tiles, and walls. The automotive sector is also a lucrative end-use industry for coating manufacturers.
Key Drivers
- Rise in demand for versatile and environment-friendly coatings in multiple industries is a key driver of the market
- Increase in utilization of superhydrophobic coatings in electronics and telecom equipment is expected to propel the market
- Manufacturers are employing fabrication methods that make these coatings easy and cost-effective to manufacture, thus increasing affordability for end-users
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Regional Growth Dynamics
- Asia Pacific held major market share in 2020. Rise in capital spending on infrastructure development by governments in emerging economies of Asia Pacific, such as India and China, is expected to fuel demand for superhydrophobic coatings in the region. Manufacturers in the region are spending substantially on R&D activities to increase their revenue. Rapid increase in demand for waterproofing coatings in electronics and telecommunication industries is set to underpin lucrative opportunities for the Asia Pacific market.
- North America is anticipated to hold a significant share in the global market during the forecast period. The U.S. is a lucrative market in North America. Product innovations are likely to fuel the regional market.
- The U.K. and Germany are expected to be key consumers of superhydrophobic coatings in Europe.
Competition Landscape
Some notable players operating in the superhydrophobic coatings market include Artekya Ltd., Rust-Oleum Corporation, NEI Corporation, NTT Advanced Technology Corporation, Nanex Company, Surfactis Technologies, Sto Group, UltraTech International Inc., DryWired LLC, The Sherwin-Williams Company, Cytonix LLC, and P2i Limited.
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Superhydrophobic Coatings Market Segmentation
End-use
- Electronics & Telecommunication
- Building & Construction
- Textile & Leather
- Automotive
- Medical & Health Care
- Others
Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Countries Covered
- U.S.
- Canada
- Germany
- France
- U.K.
- Russia & CIS
- Rest of Europe
- China
- Australia
- India
- ASEAN
- Rest of Asia Pacific
- GCC Countries
- South Africa
- Brazil
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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