Superhydrophobic Coatings Market: Introduction
The global superhydrophobic coatings market is projected to expand significantly over the next few years. Key reason supporting this projection is increase in the demand for superhydrophobic coatings from a wide range of industries. Building & construction, electronics & telecommunication, automotive, textile & leather, and medical & healthcare are some of the key end-use industries driving the global superhydrophobic coatings market.
The global superhydrophobic coatings market is fragmented and immensely competitive, making it well-poised to register a double-digit growth rate during the forecast period by revenue as well as volume. The need for high capital investment might appear as a major challenge for new entrants; however, innovation in product solutions and technologies present several opportunities for them in the superhydrophobic coatings market.
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The expansion of automotive, construction, and consumer electronics industries has fueled the demand for superhydrophobic coatings in the past few years. The market is projected to expand from a value of US$ 12.67 Mn in 2020 to US$ 319.52 Mn by 2031, at a prominent CAGR of 34.1% during the forecast period.
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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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.
Global Superhydrophobic Coatings Market: Segmentation
Superhydrophobic Coatings Market, by End-use
- Electronics & Telecommunication
- Building & Construction
- Textile & Leather
- Automotive
- Medical & Health Care
- Others
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Superhydrophobic Coatings Market, by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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