Global Hydrophilic Coating Market Report and Forecast 2023-2028

Global Hydrophilic Coating Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global hydrophilic coating market reached a value of USD 18.08 billion in 2022. Aided by the increasing demand for advanced medical equipment and the expanding applications of hydrophilic coatings in various industries, the market is projected to further grow at a CAGR of 6% between 2023 and 2028 to reach a value of USD 25.95 billion by 2028.

Hydrophilic coatings are water-attracting coatings that reduce surface friction, making them a valuable resource in the manufacturing of various products. They are typically used on medical devices and equipment like catheters, cannulas, and guide wires to ensure smooth insertion and movement within the human body. Apart from their core advantage of lubricity, these coatings also provide abrasion resistance and durability, which are critical to the long-term usage of medical devices.

The increasing consumer preference for advanced medical equipment is driving the global hydrophilic coating market growth. With the growing awareness about the benefits associated with coated medical devices - such as reduced tissue trauma and greater patient comfort - there has been a significant shift towards hydrophilic-coated products. Additionally, the rapid advancements in medical technology have further contributed to the increasing popularity of hydrophilic coatings, as they find extensive use in the production of advanced medical devices and equipment.

The expanding applications of hydrophilic coatings in various industries also play a significant role in propelling the hydrophilic coating market development. In the automotive industry, hydrophilic coatings are used on car windshields to improve visibility during heavy rainfall. The energy sector utilises hydrophilic coatings on solar panels to reduce dust accumulation, enhancing the panels' efficiency. Moreover, hydrophilic coatings are employed in the construction of anti-fogging mirrors and lenses, demonstrating the wide-ranging applications of these coatings, thereby accelerating the hydrophilic coating market demand.

Further, the growing demand for biocompatible coatings in the medical industry has led to an increased focus on hydrophilic coatings. With the rise of minimally invasive surgical procedures and the increasing need for long-term implantable devices, hydrophilic coatings have emerged as a key component in the manufacturing of these medical devices, thereby boosting the hydrophilic coating market expansion.

Market Segmentation

The market can be divided based on substrate, end user, and region.

Market Breakup by Substrate

• Polyme
• Glass/Ceramic
• Metal
• Nanoparticle

Market Breakup by End User

• Medical
• Industrial
• Commercial
• Consumer
• Automotive
• Aviation
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global hydrophilic coating companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Aculon Inc
• Applied Medical Coatings, LLC
• Hydromer Inc.
• Harland Medical Systems Inc.
• Teleflex Incorporated
• Eternal Materials Co. Ltd.
• Wacker Chemie AG
• Biocoat Incorporated
• Mitsubishi Chemical America, Inc.
• Surmodics, Inc.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.