ALBANY, New York, July 1, 2019 /PRNewswire/ -- The global hydrophilic coatings market features a competitive dynamic with most players focusing on committing time and efforts to research and development of products that meet range of needs of end-use industries, notes Transparency Market Research (TMR). TMR finds that the leading five players accounted for mere 20.0% of the global hydrophilic coatings market in 2016.
Top companies in the hydrophilic coatings market are spending sizable on consolidating their distribution networks across new geographies. TMR observes that one of the strategies to this end has been making strategic acquisitions with coating manufacturers that serve various end-use industries of the hydrophilic coatings market. A case in point is strategic alliances made by coating manufacturers with producers of hydrophilic coatings for medical devices. Numerous players in the hydrophilic coatings market are aiming at modification of hydrophilic polymers to meet a wide cross-section of needs.
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Some well-entrenched players eying higher stakes in the hydrophilic coatings market are Harland Medical Devices, SurModics, Inc., Covalon Technologies Ltd., AdvanSource Biomaterials Corp., and Hydromer, Inc.
The global hydrophilic coatings market stood at US$481.6 mn in 2016. Expanding at CAGR of 8.8% during 2017 – 2025, the revenues are expected to climb to US$1,026.6 mn by 2025-end.
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Hydrophilic Coatings find sizable market in Medical Devices Industry
Among the various applications of hydrophilic coatings, the demand from the medical devices industry is expected to rise at substantial measure by the end of the assessment period. The vast uptake is attributed to sizable demand for high-performance biomaterials for advanced medical devices in various healthcare systems.
Hydrophilic Coatings see new Commercialization Avenues in Emerging Markets of Asia Pacific
On the regional front, Asia Pacific is fast emerging market for hydrophilic coatings. The region held about 35.0% of the global market in 2015 and is expected to contribute sizable revenues to the global market. The growth will be driven by improving healthcare systems in developing economies of the region.
End-use Industries increasingly Utilizing Lubrication Characteristics for Surface Modification
Rising High-Performance Hydrophilic Surface Applications bolsters Prospects
Numerous physical and chemical characteristics of hydrophilic coatings have been extensively utilized by end-use industries, such as automotive and construction. These coatings are typically used to modify the lubrication characteristics of the substrate surfaces. Need for high-performance hydrophilic surface applications in various end-use industries has bolstered the evaluation of the hydrophilic coatings market. These coatings have been increasingly utilized in anti-fog surfaces for a range of consumer electronics and automotive. An overwhelmingly large number of products in the hydrophilic coatings market are based on chemically-modifies polyester or polyurethane films.
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Over the past few years, the medical devices industry has been generating colossal revenues. The demand to a great part is attributed to intense need for high-performance devices in the healthcare systems of developed and developing nations, world over.
Continuous Advances in Hydrophilic Coatings Technology pave way for Commercialization
Hydrophilic Coating hold potential in High-end Medical Devices
The global hydrophilic coatings market is witnessing new windows of opportunities on account of continuous advances in hydrophilic coating technology. Notable advances have been focused on simplifying the processes for applying these coatings for the purpose of developing new functionalities of surfaces used in end-use industries notably medical devices manufacturing. For instance, in recent years, hydrophilic membranes and coatings have been utilized in developing anti-bacterial surfaces for catheters.
New Formulations to be based on Polyester–Polyether Copolymers
Researchers have been testing new formulations of hydrophilic coatings based on polyester–polyether copolymers. In recent years they have been successful in modifying some the surface characteristics of substrates for medical applications. Moreover, the advent of cost-effective and eco-friendly coatings will pave way for new demand potential in the global hydrophilic coatings market. Further, a growing number of coating manufacturers in the hydrophilic coatings market are focusing on the commercializing of novel products. A case in point is self-cleaning coatings, which might see new markets in the not-so-distant future.
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The study presented here is based on a report by Transparency Market Research (TMR) titled "Hydrophilic Coatings Market (Substrate Type - Polymers, Metals and Metal Alloys, and Glass and Other Ceramics; Application - Automotive, Aerospace, Medical Devices (Cardiovascular, Urology, Neurology, and General Surgery), Optical, and Buildings) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025."
The global hydrophilic coatings market is segmented based on:
- Metal & Metal Alloys
- Glass & Other Ceramics
- Medical Devices
- General surgery
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- South Africa
- Rest of MEA
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