The global hydrophobic coatings market is estimated to be valued at US$ 1.39 billion in 2024 and is expected to exhibit a CAGR of 11% over the forecast period from 2024 to 2031.
Coatings are used in the outer sheeting of devices and screens to prevent water ingress and smudges. Their self-cleaning and water-repellent characteristics add an extra layer of protection. Rising disposable incomes and adoption of smart home appliances have augmented the demand for hydrophobic coatings from consumer electronics segment.
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 companies account for a sizable share of global consumer electronics sales. Their focus on product durability and reliability has propelled the need for hydrophobic coatings.
The key opportunities in the Hydrophobic Coatings Market Size include their application in solar panels, automotive components, construction materials and medical devices. Their properties make them suitable for use in harsh outdoor environments and high-moisture conditions. North America, Europe, and Asia Pacific witness high demand for hydrophobic coatings and present lucrative expansion opportunities for market players.
Key players are investing in RD to develop advanced hydrophobic formulations suitable for new and emerging applications. Partnerships with OEMs in diverse end-use industries will help drive the global footprint of prominent coating producers. Growing export-oriented manufacturing in Asia is expected to boost the regional hydrophobic coatings market over the forecast period.
Market Drivers:
Rising adoption of smart electronic devices globally is a key factor driving the hydrophobic coatings market. Their lightweight, compact form factors combined with Internet-of-Things capabilities have resulted in skyrocketing demand for smartphones, tablets, and wearables. This increases requisite of protective coatings that prevent liquid damage.
Market Restraints:
High material and production costs of hydrophobic coatings pose a major challenge. The multistage coating processes and stringent quality standards increase overall costs. This acts as a price restraint for small manufacturers and OEMs operating on low budgets.
Segment Analysis
The hydrophobic coatings market is segmented based on end-use industry into Construction, Automotive, Aerospace, and Others. Among these, the construction segment currently dominates the market due to growing applications of hydrophobic coatings in exterior building parts, roofing, glass cladding and windows. Hydrophobic coatings are widely used in the construction industry to provide corrosion resistance, self-cleaning and easy maintenance properties to cement, concrete and glass. Within the construction segment, exterior applications such as walls, rooftops and windows account for the largest share as these parts require frequent cleaning and maintenance.
Get more insights on Hydrophobic Coatings Market
