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. Factors such as high consumption rate of hydrophilic coatings by various end users, such as medical devices, optics, and automotive, continuously growing population, and rising income levels, along with increasing awareness about various medical practices are the factors expected to propel the growth of the global hydrophilic coating market during the forecast period.
Key companies in the global hydrophilic coating market have been expanding their businesses by adopting strategies of agreements & collaborations, new product launches, and partnerships to strengthen their position in the global hydrophilic coating market. The strategy of agreements has been the most preferred growth strategy adopted by these leading players operating in the global hydrophilic coating market. Hydromer, Inc. (U.S.) has reported maximum number of agreements between 2012 and 2016. In addition to this, companies have also launched various new products, and upgraded their existing products so as to strengthen their foothold in the global hydrophilic coating market.
Apart from agreements, companies have also adopted strategy of new product launches to sustain their position in the market. Biocoat, Inc. (U.S.) has reported maximum number of new product launches in the global hydrophilic coating market between 2012 and 2016.
Royal DSM (the Netherlands) is a global life sciences and material sciences company. The company offers two variations in hydrophilic coating products, which include lubricious coating platforms and antifouling coating platforms. In January 2016, the company entered into a partnership with Vention Medical, a global integrated solution partner. The company has also adopted strategies of expansions, new product launches, and collaborations to strengthen its presence in the market. For instance, in January 2014, the company started its first-in-house medical coating service plant for ComfortCoat hydrophilic lubricious coatings in the U.S. In January 2012, the company collaborated with EPflex, a medical manufacturer, to launch a new set of guidewires.
Hydromer, Inc. (U.S.) is mainly engaged in the manufacturing and selling of hydrophilic polymer-based products and services. The company has wide range of hydrophilic coating products. The company has also patented various coatings, anti-fog materials, hydrophilic polyurethane foams, various biocompatible hydrogels, cellular adhesions, hydrophilic polyurethane blends, and an anti-bacterial medical material. In 2015, the company launched Ultra-Hydrophilic Coatings for medical usage. Moreover, the company also signed various agreements between 2013 and 2012.
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.), Advansource 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.
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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