Hydrophilic Coatings Market Trend, Share, Growth, Size, Analysis and Forecast 2030

Hydrophilic coatings Market Size And Industry Analysis

The global Hydrophilic coatings market size was worth around USD 12,729.3 million in 2021 and is estimated to grow to about USD 17752.2 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.7 percent over the forecast period. The report analyzes the Hydrophilic coatings market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Hydrophilic coatings market.

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Hydrophilic coatings Market: Overview

Hydrophilic coatings are used to enhance lubricity and reduce friction on the surface and this is a major advantage of these coatings that are propelling their popularity across multiple industry verticals. The increasing scope of application of these Hydrophilic coatings is evident in the medical industry where they are used to improve the lubricity of the devices and keep them safely operational.

Hydrophilic coatings are used in multiple medical applications such as catheters, cannulas, and guidewires. This coating also saves the device from any kind of puncture and also provides better insertion characteristics. Increasing demand for drug delivery solutions is also expected to boost the Hydrophilic coatings market potential on a global scale.

However, the high costs of these Hydrophilic coatings are expected to act as a constraining factor for the global Hydrophilic coatings market potential through 2028.

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COVID-19 Impact:

The COVID-19 pandemic led to the downfall of the Hydrophilic coatings market and this was due to hampered research and development activity. The shift of focus in the healthcare industry led to a drop in the use of multiple medical devices and hence the adoption of Hydrophilic coatings also saw a negative trend in the 2020 pandemic. Lockdowns across the world also led to a downfall in the global Hydrophilic coatings market revenues.

The Hydrophilic coatings market is expected to see good growth in demand in the post-pandemic era as the restrictions are lifted and healthcare activities resume normal. The rising focus on drug delivery and increasing demand for medical devices is expected to boost the Hydrophilic Coatings market potential through 2028.

Hydrophilic coatings Market: Growth Drivers

Increasing demand from Healthcare Sector

Advancements in the medical and health sector are expected to bolster demand for medical devices and these devices are largely using Hydrophilic coatings in order to ensure their proper functioning. These Hydrophilic coatings also reduce the insertion pressure and ensure proper functionality without interaction with the environment. These coatings also prevent punctures hence ensuring the safety of medical devices when inserted in biological settings. All of these factors are driving the demand for Hydrophilic coatings in the health and medical industry through 2028.

Hydrophilic coatings Market: Restraints

High Costs to Restrain Hydrophilic coatings Sales

Hydrophilic coatings are very expensive and this factor alone is expected to hinder the global Hydrophilic coatings market potential through 2028. Hydrophilic coatings manufacturers are investing in the development of new coatings that are more affordable and will see high adoption even in low income economies. However, the Hydrophilic coatings market will be restrained to a certain extent by the aforementioned factor by the time companies come out with their affordable offerings.

Global Hydrophilic coatings Market: Segmentation

The global Hydrophilic coatings market is segregated based on substrate, end user, and region.

By substrate, the market is divided into Polymers, Glass/Ceramics, Metals, Nanoparticles, and Others. The polymers segment is anticipated to account for a major market share at present and is expected to maintain this stance over the forecast period as well. A characteristic property of promoting lubricity in polymers is expected to drive their popularity over the forecast period.

By Application, the Hydrophilic coatings market is segmented into Medical Devices, Optics, Automotive, Aerospace, Marine, and Others. The rising use of Hydrophilic coatings in medical devices is expected to be a prominent trend over the forecast period and is expected to hold a major market share through 2028. Increasing healthcare expenditure is projected to further bolster the growth of this segment through 2028.  

Report Scope:

Recent Developments

• In September 2021 – Biocoat Inc., a leading name in the Hydrophilic coatings marketplace announced the extension of its on-site ISO-certified, full-service agreement coating service and now will be able to treat via ultraviolet light.

Regional Landscape

Asia Pacific region will see the fastest growth rate for the Hydrophilic coatings marketplace over the forecast period. Increasing focus on healthcare and rising investments in the healthcare sector is expected to boost the Hydrophilic coatings market potential through 2028.   Increasing sales of automobiles are also expected to influence the Hydrophilic coatings market growth through the forecast period in this region. Growing marine and automotive industries in China are anticipated to provide highly lucrative opportunities through 2028. India is also expected to be a significant market for Hydrophilic coatings in this region.

The market for Hydrophilic coatings in North America is expected to see good growth owing to rising healthcare spending and high research and development activities in the healthcare domain. The United States is anticipated to emerge as a leading market in this region.

Competitive Landscape

Some of the main competitors dominating the global Hydrophilic coatings market include - Royal DSM (the Netherlands), Biocoat, Inc. (U.S.), Aculon Inc. (U.S.), Advasource Biomaterials Corporation (U.S.), Hydromer, Inc. (U.S.), Corning, Inc. (U.S.), Surmodics Incorporated (U.S.), AST Products, Inc. (U.S.), and Abbott Laboratories Inc. (U.S.)

Global Hydrophilic coatings market is segmented as follows:

By Substrate

• Polymers
• Glass/Ceramics
• Metals
• Nanoparticles
• Others

By End user

• Medical Devices
• Optics
• Automotive
• Aerospace
• Marine
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa