by Hydrophobic coatings refer to surface treatments that cause water to bead up and roll off the surface rather than soak in. These coatings are used to protect various electronic devices from water and moisture damage. Hydrophobic coatings provide durable water-repellency and oil-repellency to substrates. The growing demand for waterproof and durable consumer electronics such as smartphones, tablets, and wearable devices is primarily driving the hydrophobic coatings market.
The Global hydrophobic coatings market is estimated to be valued at US$ 1.39 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period from 2024 to 2030.
Growing demand from consumer electronics and automobile industries is fueling market growth. Hydrophobic coatings provide resistance against water, moisture, oil, dust, and other contaminants, thereby increasing the durability of devices and components. Rapid urbanization and improvement in living standards have increased consumer spending on electronic products. This, along with rising disposable incomes, especially in developing countries, is positively influencing the market.
Key Takeaways
Key players operating in the hydrophobic coatings market are Sharp Corporation, Apple Inc., Sony Corporation, ASUSTEK Computer Inc., LG Electronics, AU Optronics, Samsung Group, and Fujitsu Limited. These players are focusing on new product launches and geographical expansion to consolidate their market position.
Some of the key opportunities in the market include growing demand for anti-corrosion and self-cleaning coatings from various end-use industries. Market players are investing in R&D to develop highly efficient hydrophobic coatings for emerging applications in medical devices, aircraft exteriors, and solar panels.
The hydrophobic coatings market is witnessing increasing globalization with growing exports especially from Asia Pacific countries. China, Japan, South Korea, and Taiwan are major exporters while United States and Western European countries are major importers. Market players are expanding their manufacturing facilities in developing Asian countries to leverage lower costs and tap rising local demand.
Market drivers
The primary driver boosting the hydrophobic coatings market is the rising demand for waterproof and durable consumer electronics and smartphones. Mobile phones have become an integral part of day-to-day lives and customers prefer devices with robust build quality and protection from water-damage. According to sources, global smartphone sales averaged around 1.5 billion units annually over the recent past years. This growing sale of smartphones and increased focus of manufacturers on protection technologies is propelling the need for hydrophobic coatings.
PEST Analysis
Political: The increasing infrastructure development and construction activities favor the adoption of Hydrophobic Coatings Market Growth to protect structures from water damage. Governments across regions are implementing regulations to reduce environmental pollution, favoring the use of eco-friendly hydrophobic coatings.
Economic: The rising disposable incomes and spending capabilities encourage consumption and demand for various end-use products integrated with hydrophobic coatings such as smartphones, automotive components, textiles etc.
Social: Growing consumer awareness about product durability and necessity for protection against moisture is propelling the need for hydrophobic coatings. The increasing health consciousness also stimulates growth in medical industries applying these coatings.
Technological: Advancements in nanotechnology have enabled development of highly effective super-hydrophobic coatings with self-cleaning properties. Continuous R&D expands application areas in electronics, construction and other industries.
Geographical regions of concentration
As per value, Asia Pacific holds the largest share in the hydrophobic coatings market currently. This can be attributed to burgeoning end-use industries and increasing construction activities across countries like China, India, Japan and South Korea.
Fastest growing region
Europe is poised to witness the fastest growth during the forecast period. This is backed by large consumer base, stringent environmental regulations and sizable investments in nanotechnology research for superior hydrophobic coatings. Rising medical device production also stimulates the European market
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
