Hydrophilic Coatings Market is predicted to grow at a healthy CAGR between 2017-2027, reveals the latest Market Research Future (MRFR) report. Hydrophilic coatings are used for enhancing lubricity and reducing surface friction. It is basically water-loving, which means this readily wets out the moment it is exposed to moisture. The urology and cardiology sector have largely benefitted from such coatings, which are durable and biocompatible. Moreover, it is biomedically safe compared to non-hydrophilic coated lubricants and comprises of antimicrobial properties which are not present in other coatings. Besides, these coatings possess a multipurpose capacity and offer cost-effective perks such as infection-fighting functions and enhanced functionality.
Various factors are propelling the hydrophilic coatings market growth. These factors, as stated by the latest Market Research Future (MRFR) report, include the growing demand in various applications including optical, marine, automotive, and medical devices and equipment due to its alluring characteristics, growing demand in biomedical applications, increasing use in anti-cleaning and anti-fog applications, and growing demand in medical and healthcare facilities. Additional factors pushing market growth include the availability of improved healthcare amenities, increasing awareness about new medical practices, rising income levels, increasing health awareness, and aging population.
On the flip side, low shelf life, fluctuation in raw material prices, and loss of lubrication due to continuous use are factors that may impede the hydrophilic coatings market growth over the forecast period.
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Major players profiled in the hydrophilic coatings market report include AdvanSource Biomaterials Corp (US), AST Products, Inc. (US), Aculon (US), Biocoat Incorporated (US), DSM (Netherlands), Surmodics, Inc. (US), Harland Medical Systems (US), Corning Incorporated (US), and Abbott (US). Key players have used numerous strategies to expand the distribution networks and enhance market shares such as mergers and acquisitions, expansions, new product launches, research and development activities, expansions, collaborations, and others.
The MRFR report provides an all-inclusive segmental analysis of the Hydrophilic Coatings Market on the basis of application and substrate.
Based on the substrate, the hydrophilic coatings market is segmented into nanoparticles, metals, glass and ceramics, polymers, and others. Of these, the polymers substrate segment will have the largest share in the market over the forecast period due to its alluring properties, such as the prevention of swelling and resistance to protein absorption when exposed to tissues or body fluids. Above all, it offers good lubrication, thereby facilitating its smooth removal and application.
Based on the application, the hydrophilic coatings market is segmented into optical, marine, automotive, medical devices and equipment, and others. The medical devices and equipment segment is predicted to dominate the market over the forecast period. This is chiefly on account of the use of this coating to manufacture syringes, guidewires, catheters, and more for the efficient flow of blood as well as other liquids.
By region, the hydrophilic coatings market report covers the latest trends and growth opportunities across North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific. Of these, the APAC region will lead the market over the forecast period chiefly on account of high consumption and high production of automotive and medical devices. Moreover, increasing investments in medical infrastructure expansion is also adding to the market growth in the region.
The hydrophilic coatings market in North America is predicted to have a healthy growth over the forecast period. Factors aiding the growth of the hydrophilic coatings market in the region include considerable spending on the healthcare sector, booming automotive industry, growing demand from the aerospace industry, burgeoning demand for passenger cars, and rising applications in marine, optical, consumer goods, and electronics & electrical sectors.