Hydrophilic Coating Market- Global Size, Growth, Trends, Opportunities, Key Segments, Regional Analysis, Graph and Forecast to 2027
The global hydrophilic coating market size is projected to grow from USD 16.8 billion in 2022 to USD 22.5 billion by 2027, at a CAGR of 6.0%. The demand for hydrophilic coating is primarily influenced by the demand trends in the automotive industry, aerospace industry, medical devices industry, marine industry, optics, and the growing economy. The companies have adopted various strategies, such as investment & expansion, merger & acquisition, new product launches, and joint ventures to increase their global presence and maintain sustained growth in the hydrophilic coating market.
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Hydrophilic coatings exhibit water-loving properties. This indicates that they participate in dynamic hydrogen bonding with the surrounding water. Most hydrophilic coatings are also ionic and frequently negatively charged, which enhances water interactions even more. The hydrophilic coating market is projected to grow at a CAGR of 6.0% in terms of value during 2022–2027. It is primarily influenced by the demand trends in medical devices, aerospace, automotive, optics, marine, environmental regulations, health & safety norms, buyer preferences, lifestyle, and the growing economy. Oil prices have been highly volatile due to the supply and demand gap and unfavorable socio-political conditions in the Middle East. Most raw materials used to manufacture hydrophilic coatings are petroleum-based derivatives vulnerable to fluctuations in commodity prices. The fluctuating prices of these raw materials are a hindrance in deciding the current prices, affecting the buyer’s order size at a specific time.
Asia Pacific is one of the largest markets for hydrophilic coating, and this dominance is expected to continue during the forecast period. The high economic growth rate, growing manufacturing industries, cheap labor, and global shift of consumption and production capacities from developed markets to emerging markets in the region are factors attributed to the growth of the hydrophilic coating market in Asia Pacific. Prime manufacturers in this region concentrate on accelerated growth and penetration of online sales to open newer avenues of revenue generation in untapped markets. Companies are constantly investing in disruptive techniques to enable beneficiary and cost-effective supply chain systems. Market leaders are introducing enterprise risk management systems in their manufacturing ecosystems, enabling organizations to identify, assess, quantify, and manage risk on one centralized platform.
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There are various small, medium, and large players operating in the market. Some of the major market players include Hydromer, Inc (US), Harland Medical Systems, Inc (US), Surmodics, Inc (US), Koninklijke DSM NV (Netherlands), Biocoat, Inc (US), Aculon, Inc (US), AST Products, Inc (US), AdvanSource Biomaterials Corporation (US), Surface Solutions Group, LLC (US), Teleflex, Inc (US). They have adopted various developmental strategies such as investment & expansions, new product launches, mergers & acquisitions, and joint ventures to increase their share in the market.
Hydromer, Inc is a key player in the hydrophilic coating market. Hydromer, Inc. specializes in polymer innovation and research. It is a biotechnology company that invents, develops, patents, licenses, manufactures, and sells hydrophilic polymer-based products and solutions. The firm operates in the markets of medical devices, pharmaceuticals, animal health, biotechnology, industrial plastics, cosmetics, and personal care. Polymer Research and Medical Products are its two business segments. Aquamere, Aquatrix, Dermaseal, Dragonhyde, Hydromer Anti-Fog/Condensation Control Coatings, Hydromer Lubricious Coatings, Sea-Slide, and T-HEXX Barrier Dips and Sprays are among the items in the polymer research category.
- In April 2020, Hydromer signed a new commercial agreement with multiple clients. The company will provide its custom coating equipment, hydrophilic coatings formulations, and complete technical support to its clients.
Biocoat, Inc: Biocoat, Inc. is a manufacturer of coating reagents and a research facility dedicated to meeting client needs. Biocoat scientists are keen to assist clients through all aspects of regulatory compliance. Biocoat is a private firm that is financially strong and keeps long-term clients. Located in two facilities in Horsham, PA, Biocoat maintains redundancy in manufacturing to ensure constant delivery. The management is focused on maintaining an active quality management system that is in a state of control of procedures. Employee training and safety programs are robust
- In February 2020, Biocoat, Inc. launched Hydak UV. The new version of its original HYDAK coating is designed to be cured using ultraviolet (UV) light, allowing for flexible integration with industry-standard UV coating systems. The innovative coating is built on the proven bi-laminar platform used in Biocoat existing thermal heat cure coating technology.
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