by Hydrophobic coatings are thin films or protective layers that are applied on surfaces to make them water repellent. Hydrophobic coatings find wide ranging applications in several end use industries such as electronics, automotive, construction, medical and others. In the electronics industry, hydrophobic coatings are used on touchscreens of devices such as smartphones, tablets and laptops to prevent water damage. They create a barrier between the screen and water droplets, allowing the droplets to simply roll off the surface without leaving wet marks. This protects the delicate circuits and components inside electronic devices from water and moisture related damage. The global hydrophobic coatings market is estimated to be valued at US$ 1.02 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the Global Hydrophobic Coatings Market Size is the increasing focus on developing environmentally friendly and non-toxic formulations. Conventional hydrophobic coatings are based on fluorocarbons and hydrocarbons which have high global warming potential. However, regulations restricting the usage of such compounds are being implemented across many countries. As a result, manufacturers are investing in eco-friendly alternate chemistries based hydroxides, silanes and siloxanes to produce coatings. Another emerging trend is the development of dual hydrophobic-oleophobic coatings which repel both water and oil based liquids and provide enhanced protection. With growth in industries like food and beverages, healthcare and others involving oil and grease, demand for such multifunctional coatings is growing.
Porter’s Analysis
Threat of new entrants: Low Economies of scale in manufacturing, capital requirements and brand recognition limit threat of new entrants in established markets.
Bargaining power of buyers: High Many international brands and substitutes provide negotiating power to buyers with low switching costs.
Bargaining power of suppliers: Low Fragmented global supply base limits suppliers’ bargaining power.
Threat of new substitutes: Moderate Barrier for developing new coating technologies and gaining regulatory approvals limits threat.
Competitive rivalry: High Competition based on performance attributes, pricing and innovation. Big players continuously improve products to defend market shares.
Key Takeaways
The global Hydrophobic Coatings Market is expected to witness high growth.
Regional analysis: Asia Pacific is expected to remain the largest as well as fastest growing regional market during the forecast period. China dominated the Asia Pacific hydrophobic coatings market in 2023, owing to presence of huge manufacturing sector and rapidly growing construction industry. India and Southeast Asian countries are also expected to witness high growth in demand for hydrophobic coatings.
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. Sharp Corporation and Samsung Group are the leading manufacturers of hydrophobic coatings globally with wide product portfolio and global distribution network.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
