Oil and Water repellent coating market expected to reach USD 2.73 billion by 2025, supported by a CAGR of 5.7% during the forecast period 2015 to 2025
July, 2018 | Source: Profshare Market Research
Oil and Water repellent coating also known as Global Hydrophobic Coatings Market also known as was valued at USD 1.57 billion in the year 2015, and is expected to reach USD 2.73 billion by 2025, supported by a CAGR of 5.7% during the forecast period 2015 to 2025.The global revenue demand for the product by automotive industry is expected to grow at a CAGR of over 5% from 2015 to 2025, driven by increasing adoption of the product by major car manufacturers. The growing use of the product for coating structural materials such as composites in premium vehicles is expected to drive the market growth over the forecast period.
The market in Asia Pacific is expected to register high growth on account of the rapid development of the oil & gas industry in the region. In addition, growing construction in the developing countries such as India and China is expected to lead to a high demand for the product leading to growth.
The industry volume demand in China is expected to grow at a CAGR of over 7% from 2015 to 2025 on account of high demand from the growing construction industry. In addition, the growth of the aerospace and automotive industry in the economy is also expected to strengthen growth.The industry in Europe is expected to exhibit a limited growth on account of high market maturity. However, the market growth is derived by the use of advanced product that is coupled with rising affinity of the automotive manufacturers.
. Hydrophobic coatings can be easily applied on glass, metal, plastic, wood, mineral undercoats, concrete, and textiles. They are dirt repellant and provide resistance to abrasion, scratch, and corrosion. Therefore, they can be used on all kinds of surfaces and intricate geometries.
In hydrophobic coatings, surface contact angle is the major factor that determines the hydrophobicity of any surface. Surface contact angles greater than 90 degrees can be achieved by varying the chemical composition of the material or by using various hydrophobic agents on smooth surfaces. The ability hydrophobic coatings to provide lotus effect and other remarkable properties drive the market growth. Increasing adoption of hydrophobic coatings in several application segments such as building & construction and automotive verticals drives the global hydrophobic coatings market.
In terms of application, oil and water repellent coating can be segmented into transportation, protective clothing, industrial, furniture, and others. The transportation segment accounted for the major share of the market in 2016. Its share is projected to rise further in the next few years. The transportation segment is expected to grow during the forecast period, owing to the rising demand for coated fabrics in automobile, aircraft, railways, and marine applications. There exists high demand for coated fabric in the transportation segment, as the product is rot-proof, dirt & oil-repellent, mildew resistant, water resistant, and UV resistant. The others segment also constituted average share of the market in 2016. It comprises protective coatings, industrial, and furniture. Under the industrial segment, the product is used in the manufacture of industrial uniforms, masks, hand gloves, etc. Industrial workers work in extreme conditions; therefore, the uniform worn by them needs to be fire proof, oil repellent, water repellent, and repellent to other harmful products. Therefore, coated fabrics are used in industrial fabrics.
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