Hydrophilic Coatings Market t Size to 2023 | Key Players - AdvanSource Biomaterials Corp (US), AST Products, Inc. (US), Aculon (US), Biocoat Incorporated (US), DSM (Netherlands)
Market Analysis
The global
hydrophilic coatings market is predicted to grow at a healthy CAGR between
2017-2023, reveals the latest Market Research Future (MRFR) report. Hydrophilic
coatings are used for enhancing lubricity and reducing surface friction. It is
basically water-loving, which means this readily wets out the moment it is
exposed to moisture. The urology and cardiology sector have largely benefitted
from such coatings, which are durable and biocompatible. Moreover, it is
biomedically safe compared to non-hydrophilic coated lubricants and comprises
of antimicrobial properties which are not present in other coatings. Besides,
these coatings possess a multipurpose capacity and offer cost-effective perks
such as infection-fighting functions and enhanced functionality.
Various factors
are propelling the hydrophilic coatings market growth. These factors, as stated
by the latest Market Research Future (MRFR) report, include the growing demand
in various applications including optical, marine, automotive, and medical
devices and equipment due to its alluring characteristics, growing demand in
biomedical applications, increasing use in anti-cleaning and anti-fog
applications, and growing demand in medical and healthcare facilities.
Additional factors pushing market growth include the availability of improved
healthcare amenities, increasing awareness about new medical practices, rising
income levels, increasing health awareness, and aging population.
On the flip side,
low shelf life, fluctuation in raw material prices, and loss of lubrication due
to continuous use are factors that may impede the hydrophilic coatings market
growth over the forecast period.
Market
Segmentation
The MRFR report
provides an all-inclusive segmental analysis of the hydrophilic coatings market
on the basis of application and substrate.
Based on the
substrate, the hydrophilic coatings market is segmented into nanoparticles,
metals, glass and ceramics, polymers, and others. Of these, the polymers
substrate segment will have the largest share in the market over the forecast
period due to its alluring properties, such as the prevention of swelling and
resistance to protein absorption when exposed to tissues or body fluids. Above
all, it offers good lubrication, thereby facilitating its smooth removal and
application.
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Based on the
application, the hydrophilic coatings market is segmented into optical, marine,
automotive, medical devices and equipment, and others. The medical devices and
equipment segment is predicted to dominate the market over the forecast period.
This is chiefly on account of the use of this coating to manufacture syringes,
guidewires, catheters, and more for the efficient flow of blood as well as
other liquids.
Regional Analysis
By region, the
hydrophilic coatings market report covers the latest trends and growth
opportunities across North America, Latin America, the Middle East and Africa,
Europe, and the Asia Pacific. Of these, the APAC region will lead the market
over the forecast period chiefly on account of high consumption and high
production of automotive and medical devices. Moreover, increasing investments
in medical infrastructure expansion is also adding to the market growth in the
region.
The hydrophilic
coatings market in North America is predicted to have a healthy growth over the
forecast period. Factors aiding the growth of the hydrophilic coatings market
in the region include considerable spending on the healthcare sector, booming
automotive industry, growing demand from the aerospace industry, burgeoning
demand for passenger cars, and rising applications in marine, optical, consumer
goods, and electronics & electrical sectors.
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The hydrophilic
coatings market in Europe is predicted to have a notable growth over the
forecast period owing to the growing demand for hydrophilic coatings from the
defense & construction industry, attractive automotive aftermarket, and
high investments on the region’s healthcare infrastructure.
The hydrophilic
coatings market in Latin America and the MEA is predicted to have a
considerable growth chiefly on account of increased production as well as sales
of cars in Brazil.
Key Players
Major players
profiled in the hydrophilic coatings market report include AdvanSource
Biomaterials Corp (US), AST Products, Inc. (US), Aculon (US), Biocoat
Incorporated (US), DSM (Netherlands), Surmodics, Inc. (US), Harland Medical
Systems (US), Corning Incorporated (US), and Abbott (US). Key players have used
numerous strategies to expand the distribution networks and enhance market
shares such as mergers and acquisitions, expansions, new product launches,
research and development activities, expansions, collaborations, and
others.
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