Global hydrophilic coatings market

The global hydrophilic coatings market is expected to grow from $9.69 billion in 2016 to reach $15.04 billion by 2023 with a compound annual growth rate (CAGR) of 7.6%. There has been rapid growth in the application of hydrophillic coating in the medical, automotive, aerospace, and optical applications. These favorable applications in the market scenario are expected to drive the market. Moreover, with the properties like low friction coefficient, durability etc., and the coatings market is expected to grow its base in medical sector and find its future opportunities.

Medical devices segment is estimated to dominate the market revenue among applications owing to thriving penetration of product among the medical device manufacturing. In addition to that polymers accounted for largest market share in substrate segment on account of its varied industry applications. Regionally, North America is estimated to command largest market share due to growing geriatric population. However, Asia Pacific is estimated to grow at highest CAGR due to vast growth in manufacturing of medical devices.

Some of the key players in the hydrophilic coatings market include: Abbott Laboratories Inc., Aculon Inc., Advansource Biomaterials Corp., Ast Products Inc., Biocoat Inc., BioInteractions Ltd., Corning Inc., Dontech Inc., Harland Medical Systems Inc., Henkel AG & Co. KGaA, Henniker Plasma, Hydromer, Koninklijke DSM N.V., Pangolin Medical, Royal DSM, Surface Solutions Group LLC, Surmodics Inc., and Teleflex Inc.