New Product Launches Together Accounted for the Major Share of All Growth Strategies Adopted by the Leading Players in the Hydrophobic Coatings Market
The market size of hydrophobic coatings is estimated to grow from 10,022.5 tons in 2017 to 13,099.0 tons by 2022, at a CAGR of 5.5%. Superior properties of hydrophobic coatings are driving the market. The growing use of hydrophobic coatings in the automotive, aerospace, medical, marine, electronics, building & construction, and textiles industries is also driving the hydrophobic coatings market, globally.
Expansions and new product launches together accounted for the major share of all growth strategies adopted by the leading players in the hydrophobic coatings market between December 2013 and December 2017. BASF SE, (Germany ), Drywired (US), PPG Industries (US), The 3M Company (US), Nippon Paint (Japan), and Neverwet (US) are the major players in the market.
BASF SE offers hydrophobic coatings through its coatings division of the functional materials & solutions segment. In December 2017, the coatings division inaugurated a new automotive coatings plant at its Bangpoo manufacturing site, Samutprakarn province. This is the first automotive coatings manufacturing facility in Thailand that will produce waterborne and solvent borne automotive coatings to meet the increasing demand. This expansion will help the company to meet the growing demand for coatings in the automotive industry.
PPG Industries, founded in 1883, offers hydrophobic coatings for aerospace applications through its performance coatings business division. In November 2015, PPG Industries introduced new–design windshields for Hawker 800 series aircraft. The new-design windshields have a reliable anti-icing system, higher visible light transmittance, and hydrophobic coating for better pilot visibility during wet conditions.
NeverWet offers hydrophobic coatings for different industries such as construction, marine, medical, automotive, oil & gas, and electronics. The company provides hydrophobic coatings for substrates such as glass, fabric, and metals. In February 2016, the company introduced Neverwet glass/rain repellent. It is a hydrophobic water repellent product that significantly improves driving visibility during wet conditions. This product has helped the company to expand its market in the automotive and residential glass business.
Related Reports:
Hydrophobic Coatings Market by Substrate Type (Metals, Glass, Concrete, Polymers, Ceramics), End-Use Industry (Automotive, Aerospace, Building & Construction, Marine, Textiles, Electronics, Medical), and Region - Global Forecast to 2022
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