The market for superhydrophobic coatings is expected to register a CAGR of more than 25% during the forecast period. One of the major factors driving the market studied is the increasing demand from the automotive industry. Rapidly increasing demand from the textile industry is also expected to boost the demand for superhydrophobic coatings.
- The textile and footwear industry dominated the market, and is expected to grow during the forecast period, owing to the increasing demand for advanced textile and high-end footwear. - Recent advancements in underwater electronics, and flexible and wearable electronics are likely to act as opportunities for the market, in the future. A few applications for superhydrophobic coatings are also found in food packaging, which are also likely to act as opportunities for the market in the future. - Asia-Pacific is expected to grow at the fastest rate among all the regional segments, owing to the high demand from various end-user industries in countries, like China and India.
Key Market Trends Increasing Demand from the Textile and Footwear Industry
- During the past decade, various organizations have directed their research efforts to create textiles, which are stain resistant and water repellent. Though these coatings have been in usage for several years in raincoats, currently there has been a huge demand for self cleaning textiles. - The usage of these coatings in the textile sector has greatly increased the potential to save water and energy needed in cleaning and the use of chemicals that are used in the manufacturing of cleaning agents. With reduced washing requirement, these textiles are expected to be long lasting and more durable. - Self-cleaning textiles are much better repellers of dirt than conventional fabrics and are capable of degrading several types of stain based on some catalytic mechanism. - Superhydrophobic textiles are most appreciated in the hospital industry, since the self-cleaning technique of these garments will lead to avoiding of pathogens, odors, microorganism, etc. Hence, these textiles help in reducing the chances of infection and the spread of diseases. - The global textile and footwear industry is growing at a significant rate. The increasing demand for trendy and comfortable clothing coupled with an increase in the emphasis on the life of both textile and footwear are driving the growth. - The increase in the demand for advanced textile and high-end footwear is expected to drive the market for superhydrophobic coatings during the forecast period.
North American Region to Dominate the Market
The North American region has dominated the market. The United States is one of the largest consumers of superhydrophobic coatings across the world. Some of the key factors driving this demand are the growing textile, automotive, and construction industries in the United States. The American textile industry is the third-largest textile industry across the world, after China and India. The technical texile industry of Canada has been witnessing rapid growth in the recent years, owing to its multiple applications in various end-user sectors, like aerospace, construction and infrastructure, marine, medical, defense, safety, transportation, and agriculture. Since superhydrophobic caotings have various applications in the technical textile industry, Canadian superhydrophobic coatings market is likely to witness major growth during the forecast period.
Competitive Landscape The superhydrophobic coatings market is highly fragmented, with no single player occupying a major share in the market. The major players in the market include Rust-Oleum, UltraTech International Inc., and P2i Limited, among others.
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