Superhydrophobic Coatings Market Outlook 2031
- The global superhydrophobic coatings market was valued at US$ 12.67 Mn in 2020
- It is estimated to expand at a CAGR of 34.1% from 2021 to 2031
- The global superhydrophobic coatings market is expected to cross the value of US$ 319.52 Mn by the end of 2031
Increasing Applications of Superhydrophobic Coatings in Various End-use Industries Accelerates Market Growth
Superhydrophobic coatings are increasingly being used in various industries such as electronics and telecommunication, textile leather, building construction, automotive, healthcare, and power generation. There is a rise in demand for superhydrophobic coatings in consumer electronics, semiconductors and other electronic components.
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Impact of COVID-19 Pandemic on Superhydrophobic Coatings Market
The global coronavirus pandemic has resulted in a health crisis, impacting almost all industries and business operations. Disrupted supply chains and halting of all business activities negatively affected the global superhydrophobic coatings market. The players in the construction sector are also overcoming challenges caused due to the pandemic. This has had an indirect impact on the global superhydrophobic coatings market.
Expansion of Electronics Telecommunication Industry Propels Market
The boom witnessed by the electronics telecommunication industry, globally, is a key factor driving the global market for superhydrophobic coatings. Superhydrophobic coatings are extensively utilized in electronics and telecommunications, as they are heat resistant and easily applied on the surface. They are useful in shielding sensitive electronic parts that can be easily damaged by water. The rise in demand for water-resistant electronic products is expected to increase further over the next couple of years, owing to rising disposable incomes of people and consequent demand for superior durable products, thereby propelling the superhydrophobic coatings market.
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Lucrative Growth Opportunities in Asia Pacific Due to Rapid Industrialization
Asia Pacific is projected to account for the largest share of the global superhydrophobic coatings market. Potential growth and advancements of the construction industry is expected to offer tremendous opportunities to market players in the superhydrophobic coatings market. The Asia Pacific superhydrophobic coatings market is also driven by the lucrative presence of manufacturers in the region, along with increase in investments in RD activities by market players.
Robust development of electronics and telecommunication industries and recovery of the building construction sector in Asia Pacific are creating profitable growth opportunities in the region. Rapid industrialization, rising residential construction, and infrastructure activities in India and China are driving the Asia Pacific superhydrophobic coatings market.
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Superhydrophobic Coatings Market, by End-use
- Electronics Telecommunication
- Building Construction
- Textile Leather
- Automotive
- Medical Health Care
- Others
Superhydrophobic Coatings Market Players
Some of the prominent participants in the global market for superhydrophobic coatings are The Sherwin-Williams Company, P2i Limited, DryWired, LLC, Cytonix, LLC, Surfactis Technologies, UltraTech International, Inc., NEI Corporation, Sto Group, Nanex Company, NTT Advanced Technology Corporation, Artekya Ltd., Lotus Leaf Coatings, Inc., Rust-Oleum Corporation, and Aculon, Inc.
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