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The hydrophobic coatings market share is expected to increase by USD 519.19 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5%.
This hydrophobic coatings market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers hydrophobic coatings market segmentation by end-user (automotive, building and construction, aerospace, marine, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The hydrophobic coatings market report also offers information on several market vendors, including 3M Co., AccuCoat Inc., Aculon, Advanced Nanotech Lab, Anhui Sinograce Chemical Co. Ltd., Artekya Technology, BASF SE, CYTONIX, Drywired, Lotus Leaf Coatings Inc., NEI Corp., NeverWet LLC, Nippon Paint Holdings Co. Ltd., NTT Advanced Technology Corp., P2i Ltd., Pearl Global Ltd., PPG Industries Inc., Sto SEA Pte. Ltd, Surfactis Technologies, The Sherwin-Williams Co., and UltraTech International Inc. among others.
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The growing demand from the building and construction industry is notably driving the hydrophobic coatings market growth, although factors such as stringent environmental regulations may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hydrophobic coatings industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Hydrophobic Coatings Market Driver
The growing demand from the building and construction industry is one of the key drivers supporting the hydrophobic coatings market growth. Growing industrialization and a surge in the manufacturing sector are fueling the consumption of hydrophobic coatings in the region. The growth of the automotive and construction industries is high in the emerging economies of APAC amid rising GDP numbers. Hydrophobic coatings in building and construction applications are used in pipes and fittings, foundations, and others. The building and construction sector in APAC is one of the largest sectors undergoing rapid development. The sector's significant growth will accelerate the consumption of plastics in the region. In India, government initiatives such as smart city projects and the Housing for All by 2022 plan will drive the construction industry during the forecast period. Therefore, the demand for hydrophobic coatings in APAC is expected to surge significantly during the forecast period.
Key Hydrophobic Coatings Market Trend
The rise in the demand for waterborne hydrophobic coatings is another factor supporting the hydrophobic coatings market growth. Waterborne coatings offer excellent adhesion. Hence, additional additives, thinners, or hardeners are not required, thus reducing overall costs in comparison to solvent-borne coatings They have a longer pot life, which enables the preservation of waterborne coatings for future use in cases where a solvent-borne coating can react with the substrate, waterborne coatings are the ideal choice. Painting and coating manufacturers are rapidly transitioning toward the use of powder and waterborne coatings. This comes amid growing demand and innovative opportunities offered by waterborne coatings compared to their solvent-borne counterparts. Thus, the increasing use of waterborne coatings will bolster the demand for hydrophobic coatings during the forecast period.
Key Hydrophobic Coatings Market Challenge
Stringent environmental regulations is one of the factors hindering the hydrophobic coatings market growth. For instance, the regulatory requirement in Southern California mandates the use of VOC-free tinting bases for architectural base colors. Key market vendors had to accommodate this new requirement and install new dispensers capable of handling fast-drying, low-, or no-VOC colorants for architectural paints and coatings. Similarly, in the EU, the Restriction of Hazardous substances directive focuses on safeguarding the environment. It directs vendors to use chemical products that do not contain hazardous substances such as mercury, lead, and others. Hence, vendors are increasingly focusing on developing high-solid solvent-borne coatings that are relatively eco-friendly and regulation-compliant. Such regulations on the use of VOCs will negatively impact the global hydrophobic coatings market during the forecast period.
This hydrophobic coatings market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global hydrophobic coatings market as a part of the global specialty chemicals market.. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the hydrophobic coatings market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the hydrophobic coatings market encompasses successful business strategies deployed by the key vendors. The hydrophobic coatings market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The hydrophobic coatings market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the hydrophobic coatings market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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44% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for hydrophobic coatings market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The rise in government initiatives will facilitate the hydrophobic coatings market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 has negatively impacted the sales of hydrophobic coatings from key APAC countries, such as China, India, and Taiwan. However, the lifting of lockdown restrictions, the resumption of operations in the end-user industries, and the initiation of large-scale COVID-19 vaccination drives helped the regional market recover in 2021. Therefore, the regional market is expected to witness steady growth during the forecast period.
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The hydrophobic coatings market share growth by the automotive segment will be significant during the forecast period. The automotive end-user segment accounted for the largest market share in 2021. The demand for hydrophobic coatings by the automotive industry is driven by its self-cleaning property and visual aesthetics, unlike hydrophilic coatings. Their manufacturers use such coatings in the production of new vehicles and for aftermarket purposes such as vehicle repair and refinishing. Such properties will drive market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the hydrophobic coatings market size and actionable market insights on post COVID-19 impact on each segment.
Hydrophobic Coatings Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5% |
Market growth 2022-2026 |
$ 519.19 million |
Market structure |
Fragmented |
YoY growth (%) |
3.9 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 44% |
Key consumer countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
3M Co., AccuCoat Inc., Aculon, Advanced Nanotech Lab, Anhui Sinograce Chemical Co. Ltd., Artekya Technology, BASF SE, CYTONIX, Drywired, Lotus Leaf Coatings Inc., NEI Corp., NeverWet LLC, Nippon Paint Holdings Co. Ltd., NTT Advanced Technology Corp., P2i Ltd., Pearl Global Ltd., PPG Industries Inc., Sto SEA Pte. Ltd, Surfactis Technologies, The Sherwin-Williams Co., and UltraTech International Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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