The global hydrophilic coatings market size is projected to reach USD
14.74 billion by 2025, according to a new report by Grand View Research, Inc.
The demand for the product is expected to grow significantly over the forecast
period, driven by the rising application scope in industries including
automotive, medical, optical and aerospace.
Rising development of medical infrastructure in developing economies in
Asia Pacific is expected to drive the demand for the compound over the forecast
period.The rising consumer spending capacity, along with growing geriatric
population in developed countries, is expected to augment the demand for
improved medical facilities and practices. In addition, increasing demand for
vehicles and rising penetration of the product in other end-use industries such
as aerospace and marine are expected to have a positive impact on growth.
Growing consumer awareness regarding the diversified characteristics of
hydrophilic coatings, including durability, low friction coefficient and low particulate
count, is expected to aid market growth for the coatings in the medical
industry. As a result, the demand for the product is expected to rise over the
next nine years.
In depth research report
on Hydrophilic Coatings Market
Further key findings from
the report suggest:
•
Polymers accounted for the largest market in 2015, which was valued at
over USD 3 billion in 2015.The increasing utilization of polymers in manufacturing
automotive parts and medical equipment, including catheters and guidewires, is
expected to drive the industry demand.
•
The utilization of hydrophilic coatings for metal and glass substrates is
expected to grow owing to the increasing application of the metal in end-use
industries, including aerospace and automotive. The increasing utilization of
glass substrates in construction and automotive industries is expected to aid
market growth over the forecast period.
•
The demand for hydrophilic coatings in medical devices & equipment is
expected to witness significant growth owing to the increasing application in
catheters, guidewires and other medical devices.
•
Asia Pacific is expected to be the fastest-growing market, growing at a
CAGR of over 6% from 2016 to 2025.Increasing production of medical devices in
the region, coupled with rising investments in medical infrastructure
expansion, is expected to propel demand.
•
High production volume in China and Japan is expected to drive industry
growth for the coatings over the next nine years. The rising number of
infrastructure development projects and the growing manufacturing industry are
expected to aid the growth for the product in India.
Grand View Research has segmented the hydrophilic coatings market on the
basis of substrate, application and region:
Substrate Outlook
(Volume, Kilo tons; Revenue, USD Million; 2014 - 2025)
•
Polymers
•
Glass
•
Metal
•
Nanoparticles
•
Others
Application Outlook
(Volume, Kilo tons; Revenue, USD Million; 2014 - 2025)
•
Aerospace
•
Automotive
•
Marine
•
Medical devices & equipment
•
Optical
•
Others
Regional Outlook (Volume,
Kilo tons; Revenue, USD Million; 2014 - 2025)
•
North America
o
U.S.
•
Europe
o
Germany
o
UK
•
Asia Pacific
o
China
o
India
o
Japan
•
Central & South America
o
Brazil
•
Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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