The hydrophobic coating market in the United States is expected to grow at a CAGR of 3% from 2024 to 2034. The growth of the hydrophobic coatings market is increasing due to the growing need for surface protection and durability.

/EIN News/ -- NEWARK, Del, July 15, 2024 (GLOBE NEWSWIRE) -- The hydrophobic coating market has experienced rapid expansion in recent years. It is projected to reach a peak of USD 3,849.6 million by 2034, at a compound annual growth rate (CAGR) of 5.4%, from a market valuation of USD 2,276.1 million in 2024. Hydrophobic coatings are being widely used in many industries, and this rapid industrialization is responsible for the market's expansion.

Construction industry requires high-quality hydrophobic coatings to protect buildings, bridges, and other structures from water damage and external elements. These coatings help in maintaining the structures and reducing the need for maintenance and repair, making them a cost-effective solution for builders and contractors.

Marine industry also extensively uses hydrophobic coatings to protect boats, ships, and other marine vessels from barnacles, and the increasing need for eco-friendly coatings has created a massive growth opportunity. The automotive and aerospace sectors have also envisioned significant share values in the hydrophobic coating market. The rapid production of luxury cars, bikes, public vehicles, and electric vehicles has generated huge sales of these coatings.

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The high cost of application, the possibility of damage during implementation, and counterfeit products in the domestic marketplace pose significant challenges in the development of these coatings.

“Increasing demand for durable and long-lasting coatings in the construction industry has further enhanced the growth trajectory of the hydrophobic coating market,” - Says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Key Takeaways from the Market Study 

• Anti-corrosion hydrophobic coating is gaining popularity, with a projected share of 31.8% for 2024, as it can be applied across various sectors.
• The automotive sector's share in the hydrophobic coating industry reflects an impressive 35.7% for 2024.
• The hydrophobic coating market in India is poised for exponential growth, with an 8% CAGR through 2034.
• The hydrophobic coating market in China is projected to grow at a 6% CAGR through 2034.
• The hydrophobic coating market in Spain is anticipated to develop at a 4% CAGR through 2034.
• The hydrophobic coating market in Canada is predicted to rise at a 3.3% CAGR through 2034.
• The hydrophobic coating market in the United States is estimated to increase at a 3% CAGR through 2034.
  
  

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Competitive Landscape 

Industry players like BASF SE, AkzoNobel N.V., Aculon Inc., Accucoat, Inc., 3M, Aurolab, and Excel Coatings. Companies are jumping into collaborations and mergers to grow in varied sectors. Electronic sectors have boosted the demand for manufacturers catering to growing needs with lump sum profits. Variations in material and production for easy transport and lasting quality have graded the market to score more heights.

Recent Developments: 

• In September 2023, Nidec Instruments Corporation developed a hydrophilic coat for automotive lenses, which reduces water droplets on camera lenses, improving drivers' vision in rainy weather.
• In December 2023, McCormack Family Farms replaced wax-lined and PET produce trays with Smurfit Kappa's water-resistant coating on cardboard, providing moisture resistance without compromising recyclability and reducing transport costs and carbon footprint.

Leading Hydrophobic Coating Market Players

• BASF SE
• AkzoNobel N.V.
• Aculon Inc.
• Accucoat, Inc.
• 3M
• Aurolab
• Excel Coatings
  
  

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Key Segments of Market Report

By Property Type:

The sector is divided into anti-microbial, anti-icing/wetting, anti-fouling, anti-corrosion, self-cleaning, and others based on property types.

By Application:

Hydrophobic coating find application in the aerospace, automotive, construction, medical, optical, and other industries.

By Region:

A regional analysis has been carried out in key countries of North America, Latin America, Asia Pacific, Middle East and Africa (MEA), and Europe.

Authored By

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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The global hydrophilic coating market is valued at USD 19.9 billion in 2024 and is projected to grow at a CAGR of 5.7%, potentially reaching USD 34.6 billion by 2034.

The global UV coatings market size is expected to attain a valuation of USD 4,065.94 million in 2023 and is projected to reach USD 6,780 million by 2033, rising at a CAGR of 5.2% during the forecast period.

The global water proof coatings market value is set to thrive at a CAGR of 4.02% between 2022 and 2032 while holding a value of USD 15.81 Billion in 2022. The anticipated value of USD 23.45 Billion by 2032.

The global antimicrobial nanocoatings market revenue is projected to reach a valuation of USD 930.5 Million in 2022. The market is expected to witness steady growth at a CAGR of 20.3% from 2022 to 2032.

The global soft touch polyurethane coatings industry will be valued at USD 17,429 million in 2033 and grow at a CAGR of 9% between 2023 and 2033.

Sales of electrical steel coatings are slated to grow at a steady CAGR of 5.5% between 2022 and 2032, totaling a market valuation of USD 488.3 Million by 2032.

The global polyurea coatings market is likely to register a valuation of USD 902.9 million in 2023. Between 2023 and 2033, a robust CAGR of 9.3% should fuel the acceleration of the market. 

The ceramic coating market size is poised to reach a value of USD 11,518.5 million in 2024 and expand at a CAGR of 7.5% to attain USD 23,845.1 million by 2034.

During the forecast period, the global market for wood preservative chemical & coating active ingredient is expected to garner a 4.90% CAGR and reach a size USD 386.6 million by 2033.

Sales of optical coatings are expected to expand at a CAGR of 8.8% and top a valuation of USD 22,598.7 Million by 2032. 

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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