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Hydrophilic Coating Market worth 12.77 Billion USD by 2021
The report "Hydrophilic Coating Market by Substrate (Polymers, Glass/Ceramics, Metals, Nanoparticles), End User (Medical Devices, Optics, Automotive, Aerospace, Marine), and Region - Global Forecast to 2021", The global hydrophilic coating market was valued at USD 8.89 Billion in 2015 and is projected to reach USD 12.77 Billion by 2021, at a CAGR of 6.0% from 2016 to 2021.
Browse 92 market data Tables and 49 Figures spread through 143 Pages and in-depth TOC on "Hydrophilic Coating Market by Substrate (Polymers, Glass/Ceramics, Metals, Nanoparticles), End User (Medical Devices, Optics, Automotive, Aerospace, Marine), and Region - Global Forecast to 2021"
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Increasing consumption of hydrophilic coatings by various end users, such as medical devices, optics, and automotive, coupled with continuously growing population, rising income level, and increasing awareness about new medical practices are the factors expected to drive the growth of the global hydrophilic coating market during the forecast period.
Among end users, the medical devices segment is projected to lead the global hydrophilic coating market during the forecast period.
In terms of value, the medical devices end user segment is estimated to account for the largest share in the global hydrophilic coating market during the forecast period. This large share is primarily attributed to the water-friendly characteristics of hydrophilic coatings. These coatings offer lubricity to disposable medical devices, such as catheters and guide wires. They also reduce insertion force, thereby avoiding any possible puncture damage and severe abrasion between the device surface and vessel walls.
Among substrates, the polymers segment is projected to lead the global hydrophilic coating market between 2016 and 2021.
The polymers segment is estimated to account for the largest share in the global hydrophilic coating market during the forecast period. Polymers not only offer resistance to protein absorption, but also prevent swelling, when exposed to water, bodily fluids, or tissues. Moreover, it is easy to make polymers lubricious to facilitate their smooth application and removal.
Among regions, the North American region is leading the global hydrophilic coating market.
The North American region is the largest market for hydrophilic coatings, globally. Continuously aging population, increased awareness about the benefits of non-invasive surgery procedures, and technological advancements in the healthcare industry are the factors that have led to surge in the popularity of hydrophilic coatings for usage in medical devices in the North American region, especially in the U.S. and Canada. The North American region has also been witnessing increased demand for hydrophilic coatings in optics, automotive, and aerospace industries. Continuous technological advancements in these industries have led to increase in the usage of hydrophilic coatings in various applications, thus driving the growth of the global hydrophilic coating market.
Some of the key players operating in the global hydrophilic coating 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.), among others.
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