Press release
Hydrophilic Coating Market Revenue, Opportunity, Segment and Key Trends 2016-2026
Hydrophilic coatings are wettable and low friction coating applied to the medical devices such as guide wires, catheters and cannulas. It reduces the occurrences of inflammation and damage caused by the medical devices, when they are used on a patient. These coatings exhibit water attracting characteristics. Hydrophilic coatings reacts on water and produces hydrogel material, which are lubricious and wettable and suitable for biological interactions.
They are also used in optical devices such as camera windows, outdoor surveillance, outdoor displays etc. Hydrophilic coatings are used in automotive parts such as body for glazing and rear-view mirrors as an anti-fog agent. In October 2016, Surmodics, Inc. launched new series of hydrophilic coatings named Serene coatings. They can be used on different substrates of medical devices used in clinical areas such as peripheral, coronary, neurovascular etc.
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Hydrophilic Coating Market: Drivers and Restraints
The conventional lubricative coatings such as silicone oils and glycerine, which are used instead of hydrophilic coatings have many disadvantages, which is the major driver for the growth of global hydrophilic coating market. These coatings get separated from the medical equipment, when being used and reduces the lubrication causing discomfort and high injury risk.
Hydrophilic coatings are used wide range of applications ranging from automotive, medical devices, optical devices etc., which is expected to drive the consumption of this type of coatings. Automotive manufacturers are continuously striving to enhance the safety and performance of the vehicle. Hydrophilic coating has significant role in improving the safety precautions and overall look of the vehicle, which is anticipated to boost the growth of global hydrophilic coating market.
Hydrophilic Coating Market: Region Wise Outlook
The global hydrophilic coating market can be divided into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). North America and Western Europe account for significant share in global hydrophilic coatings market. This is attributed to the mature automotive and healthcare industry in these regions. Western Europe and North America account for more than half of the total share in global coatings market, which is anticipated to boost the growth of hydrophilic coatings market in these regions. APEJ is expected to register high CAGR over the forecast period. The rise in investments in healthcare industry is expected to propel the growth of hydrophilic coatings market in the region.
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Emerging clusters such as China and India exhibit rapid growth in automotive industry, which is anticipated to increase consumption of hydrophilic coatings. Japan accounted for major share in innovative medical devices industry and is considered as an electronics hub. The automotive sector is also growing at a fast pace and hence the hydrophilic coatings market is projected to register significant CAGR during the forecast period.
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