Hydrophilic Coating Market worth $22.5 billion by 2027 | Key players Hydromer, Inc (US), Harland Medical Systems, Inc (US), Surmodics, Inc (US), Koninklijke DSM NV (Netherlands), Biocoat, Inc (US).

According to recent market research the "Hydrophilic Coating Market by Substrate (Polymers, Glass/Ceramics, Metals, Nanoparticles), End User (Medical Devices, Optics, Automotive, Aerospace, Marine), and Region (APAC, North America, Europe, MEA, South America) - Global Forecast to 2027", size is projected to grow from USD 16.8 billion in 2022 to USD 22.5 billion by 2027, at a CAGR of 6.0%. The hydrophilic coating market is divided into five key regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South America. The market growth is supported by the acceleration of motor vehicle manufacturing globally as output rises dramatically compared to historical levels. The rising number of motor vehicles in use and increasing insurance coverage allow for more comprehensive repairs to be made to damaged vehicles, which increases the demand for refinishing coatings. Owing to the enormous motor vehicle parts and some of the world's top automakers in these countries, North America and Western Europe are expected to continue to make up a sizable portion of the demand for hydrophilic coating.

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Nine months into 2022, the global car market remained vulnerable to ongoing supply chain pressures and rising geopolitical tensions. According to S&P Global and the International Organization of Motor Vehicle Manufacturers, this caused a decline in global new car sales by 2.9% so far this year - nearly 1.5 million units below the 2021 level, and more than 7.5 million units less than in 2019. European passenger car registrations declined by 15.4% in the first nine months of 2022, owing mostly to a lack of automobiles due to semiconductor shortages. Simultaneously, the conflict in Ukraine and the looming energy crisis have had a substantial negative impact on automobile demand, particularly in Eastern European nations, with the worst losses reported in countries directly involved in the conflict, specifically Ukraine (-65.3%) and Russia (-61.8%).

Passenger car sales in North America continued to be affected by supply chain issues, which limited the availability of new vehicles. Over the first three quarters of 2022, regional car sales declined by 13.3%, down approximately 1.5 million units from the same period the year before. The same trend was observed in the US, where sales volumes contracted by 14.3% during this nine month. Demand for new cars in South America remained stable at 2 million units during the first three quarters of 2022, despite a 3.8% drop in Brazilian sales, which account for more than half of total regional car sales alone. From January to September, Japanese and South Korean passenger vehicle sales fell 8.7% and 7.5%, respectively, as shortages of semiconductors and other components continued to hamper production.

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The Asia Pacific is a fast-expanding market with several potential for industry participants. Many of the major companies in North America and Europe intend to relocate their manufacturing bases to this area because to the availability of low-cost raw materials, cheap production costs, and the desire to better service local customers. The region's desire for luxury items is expanding as the middle-class population grows. Government efforts are also assisting the car industry's expansion. These factors are expected to have a significant impact on the hydrophilic coating market.

Asia's impressive economic comeback from earlier this year is losing speed because of a weaker-than-expected second quarter. The IMF has trimmed its forecast for Asia Pacific growth to 4% this year and 4.3 percent next year, much lower than the 5.5 percent average over the preceding two decades. Despite this, Asia is a comparatively bright spot in an otherwise bleak global economy. A rapid tightening of financial conditions is raising government borrowing costs, which are expected to become much more restrictive as major advanced economies' central banks continue to raise interest rates to contain the fastest-growing inflation in decades. Rapid currency depreciation may aggravate policy concerns.

Major players operating in the hydrophilic coating include Hydromer, Inc (US), Harland Medical Systems, Inc (US), Surmodics, Inc (US), Koninklijke DSM NV (Netherlands), Biocoat, Inc (US), Aculon, Inc (US), AST Products, Inc (US), AdvanSource Biomaterials Corporation (US), Surface Solutions Group, LLC (US), Teleflex, Inc (US), and others.

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Hydromer, Inc is a key player in the hydrophilic coating market. Hydromer, Inc. specializes in polymer innovation and research. It is a biotechnology company that invents, develops, patents, licenses, manufactures, and sells hydrophilic polymer-based products and solutions. The firm operates in the markets of medical devices, pharmaceuticals, animal health, biotechnology, industrial plastics, cosmetics, and personal care. Polymer Research and Medical Products are its two business segments. Aquamere, Aquatrix, Dermaseal, Dragonhyde, Hydromer Anti-Fog/Condensation Control Coatings, Hydromer Lubricious Coatings, Sea-Slide, and T-HEXX Barrier Dips and Sprays are among the items in the polymer research category.
• In April 2020, Hydromer signed a new commercial agreement with multiple clients. The company will provide its custom coating equipment, hydrophilic coatings formulations, and complete technical support to its clients.

Biocoat, Inc: Biocoat, Inc. is a manufacturer of coating reagents and a research facility dedicated to meeting client needs. Biocoat scientists are keen to assist clients through all aspects of regulatory compliance. Biocoat is a private firm that is financially strong and keeps long-term clients. Located in two facilities in Horsham, PA, Biocoat maintains redundancy in manufacturing to ensure constant delivery. The management is focused on maintaining an active quality management system that is in a state of control of procedures. Employee training and safety programs are robust.
• In February 2020, Biocoat, Inc. launched Hydak UV. The new version of its original HYDAK coating is designed to be cured using ultraviolet (UV) light, allowing for flexible integration with industry-standard UV coating systems. The innovative coating is built on the proven bi-laminar platform used in Biocoat existing thermal heat cure coating technology.

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