Superhydrophobic Coating Market is expected to reach USD 11.2 million by 2024: Radiant Insights

The global Superhydrophobic Coating Market is expected to reach USD 11.2 million by 2024, according to a new report by Radiant Insights. Depleting freshwater reserves are one of the key concerns driving the demand for self-cleaning technologies. Superhydrophobics are completely water-repellent, fostering dirt to slide off from their surface at even slight elevation angles, which makes them ideal for solar panels & similar applications.

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Expanding consumer electronics industry in emerging economies and the subsequent rise in demand for durable materials with complete waterproofing properties is another key driver for industry growth. Leather and nonwoven textiles are also increasingly utilizing them to provide comfort to consumers while eradicating washing cycles.

Anti-microbial accounted for over 41% of global volume in 2015. These coatings are witnessing high demand from the medical sector for manufacturing dermatologically compatible, pathogen-resistant surgical instruments, operating gowns & gloves along with other devices.

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Further key findings from the report suggest:

•           The global Superhydrophobic Coating Market demand was over 50 tons in 2015 and is expected to exceed 110 tons by 2024, growing at an estimated CAGR of 9.4% from 2016 to 2024

•           Increasing demand for entirely water-repellent technologies is driving industry growth in consumer electronics and textiles

•           Developments in the nanotechnology field are creating durable coatings with greater corrosion resistance under duress, which in turn is boosting their demand in industrial applications

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           Carbon nanotubes were the leading raw materials used and accounted for over 33% of overall volume in 2015. In recent years, lightweight properties, high resistance to temperature changes and technological compatibility have driven segment growth.

•           Gel-based silica is likely to witness significant growth on account of its economic viability and processability. Gel-based silica witnessed high penetration in the electrical & electronics industries, as a result of high demand for waterproof consumer electronics, printed circuit boards, solar panels, flexible & other electronics

•           Demand in the medical & healthcare sector is anticipated to grow at a high CAGR of over 10% from 2016 to 2024. The coatings make all contact surfaces highly water resistant, which in turn reduces the risk of infection or pathogens.

•           Major market participants such as Rust-Oleum & UltraDry are dominant across the global superhydrophobic coatings industry

•           Other market players include P2i International Ltd., UltraTech International Inc., Lotus Leaf Inc., NEI Corporation, NTT Advanced Technology, Hydrobead Aculon among several others.

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