Hydrophilic coatings have gained significant attention in various industries due to their versatile applications and continuous advancements. These coatings offer unique properties that enhance lubricity, biocompatibility, and water affinity, making them suitable for medical devices, automotive components, electronics, and more. The advancements in hydrophilic coatings have led to improved performance, durability, and ease of application. They enable advancements in medical treatments, increase the efficiency of industrial processes, and enhance the performance of consumer products. The versatile nature of hydrophilic coatings has positioned them as a valuable solution across multiple industries.
According to Data Bridge Market Research, the Global Hydrophilic Coatings Market is accounted at USD 12.80 billion in 2021 and is expected to reach USD 21.99 billion by 2029. The market is expected to grow with a CAGR of 7.00% in the forecast period of 2022 to 2029.
“High usage of hydrophilic materials boosts the market’s growth”
The hydrophilic market experiences significant growth due to the high usage of hydrophilic materials in various medical applications. Hydrophilic materials have the ability to attract and retain water, making them suitable for medical purposes such as coatings, lubricants, and drug delivery systems. The growing demand for minimally invasive procedures, advancements in medical technology, and the need for improved patient outcomes drive the adoption of hydrophilic materials. The unique properties of hydrophilic materials, including biocompatibility and ease of use, contribute to the market's growth as they address the specific requirements of the medical industry.
What restraints the growth of the global hydrophilic coatings market?
“Stringent approval process restraints the market’s growth”
The global hydrophilic coatings market faces restraints due to the stringent approval process required for medical devices and implants. Hydrophilic coatings are often used in medical devices such as catheters, stents, and surgical instruments to enhance lubricity and biocompatibility. However, obtaining regulatory approvals and certifications for these coatings can be time-consuming and costly. Stringent regulations, safety standards, and the need for extensive testing and documentation pose challenges to market growth. The lengthy approval process may hinder the introduction of new hydrophilic coatings in the market, impacting the overall growth potential.
Segmentation: Global Hydrophilic Coatings Market
The global hydrophilic coatings market is segmented on the basis of substrate and end users.
- On the basis of substrates, the hydrophilic coatings market has been segmented into polymers, glass/ceramics, metals, nanoparticles, and others.
- On the basis of end users, the hydrophilic coatings market has been segmented into medical devices, automotive, optics, aerospace, marine, and others.
Regional Insights: North America dominates the global hydrophilic coatings market
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance due to the increasing utilization of these coatings in various applications. The unique properties of hydrophilic coatings make them desirable for a wide range of industries, driving their usage and market expansion.
Asia-Pacific is estimated to show lucrative growth over the forecast period of 2022-2029, due to the increasing awareness of their benefits and the entry of major automotive OEMs. This has led to a higher demand for hydrophilic coatings in the automotive industry, driving market growth.
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Recent developments
- In 2020, Royal DSM, a prominent global solutions supplier, has successfully finalized its acquisition of Glycom, the world's top supplier of Human Milk Oligosaccharides (HMOs). The transaction, valued at USD 833.31 million, enables Royal DSM to enhance its competitive position in the market and expand its market share.
The Prominent Key Players Operating in the Global Hydrophilic Coatings Market Include:
- Eternal Materials Co., Ltd. (Taiwan)
- Wacker Chemie AG (Japan)
- DIC CORPORATION (Japan)
- Aculon. (U.S.)
- Biocoat Incorporated. (U.S.)
- Harland Medical Systems, Inc. (U.S.)
- Hydromer (U.S.)
- AdvanSource Biomaterials Corporation (U.S.)
- Surmodics, Inc. (U.S.)
- DSM (Netherlands)
- AST Products, Inc. (U.S.)
- Abbott. (U.S.)
- Dow (U.S.)
- Sono-Tek Corporation. (U.S.)
- FSI Coating Technologies, Inc. (FSI) (U.S.)
- APPLIED MEDICAL COATINGS (U.S.)
- Precision Coating Company, Inc (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global hydrophilic coatings market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Hydrophilic Coatings Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
