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The market for superhydrophobic coatingsis expected to reach USD 51.18 million by 2026, registering a CAGR of 25.48% during the forecast period (2021-2026). Increasing demand for electric vehicles and the growing demand from the textile industry are the major factors driving the growth of the market studied. On the flipside, the impact of the COVID-19 pandemic and high prices are expected to hinder the growth of the market.
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.
United States dominated the global market and is also likely to drive the demand for superhydrophobic coatings over the forecast period.
Scope of the Report
The superhydrophobic coatings market is segmented by product type, end-user industry, and geography. By product type, the market is segmented into Anti-corrosion, Anti-icing, Self-cleaning, and Anti-wetting. Based on end-user industry, the market is segmented into Textile and Footwear, Automotive, Building and Construction, and Upcoming End-user Industries). The report also covers the market sizes and forecasts for the Superhydrophobic Coatings market in 11 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
|Textile and Footwear|
|Building and Construction|
|Rest of the World|
Key Market Trends
Textile and Footwear Segment to Dominate the Market
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. These textiles also offer several benefits in the defense sector. Soldiers posted in difficult and inhospitable areas often do not get the chance to wash their cloths. Self-cleaning garments offer cleaner and more hygienic solutions for them.
Footwear coated with superhydrophobic materials offer reduced water uptake with no loss of breathability. Footwear manufacturers, such as Timberland, Adidas, Golf, Hi-Tec, Tiva, and Nike, all use such coatings in some of their products. These coatings prevent the surface of the footwear from getting wet or muddy during any activity. Nowadays, most of the professional and aspiring tennis players and outdoor activities enthusiasts prefer such footwear. 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. Hence, 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.
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United States to Dominate the Global Market
The United States is the world’s largest and most powerful economy in the world. However, the economic growth of the country has been slowed in the recent past, with the GDP growth rate dropping from 3% in 2018 to 2.2% in 2019. Additionally, the GDP of the country contracted by 4.8% in the first quarter and 31.4% in the second quarter of 2020, indicating the severe impact of the COVID-19 pandemic. Overall, the country’s annual GDP growth dipped to -4.3% in 2020. Therefore, a drastic outbreak of COVID-19 in the country has led to a downfall in economic growth, owing to a fall in consumer spending and business shutdowns. With the coronavirus disease spread across the country, production in various industries and nearly all aspects of the supply chain were negatively affected.
The United States has one of the world’s largest construction industry, and it recorded annual revenue of USD 1,306 billion in 2019. The United States is a major industrialized nation that houses multiple industries in heavy-scale, medium-scale, and small-scale categories. The country is known for its booming commercial activities. The commercial construction sector was expected to increase by 0.9% in 2020 and 1.5% in 2021, according to a survey conducted by the American Institute of Architects. Construction activities in the healthcare sector were projected to register a growth rate of 3.5% in 2020 and 3.4% in 2021. The report also indicated the growth of office spaces by 0.5% in 2020 and further by 3% in 2021. According to the Federal National Mortgage Association (Fannie Mae), residential house construction was expected to jump 10% across 2020, with 1 million new homes expected to hit the market by the end of 2021. Although the residential construction is expected to drastically reduce due to COVID-19 till 2021, which will likely hit the superhydrophobic coatings usage in construction, the growth is expected to pick up after 2021 and continue during the forecast period, thus having a positive impact on the market.
Among textiles, the major applications of superhydrophobic coatings is outdoor wear, footwear, protective textiles, and technical textiles. Two of the largest consumers of technical textiles are military and infrastructure. The American textile market is divided into three segments – apparels, which consume nearly 12%, home textiles and floor covering segment, accounting for almost 40% stake in raw material consumption, and technical textile, holding the largest share, with nearly half of the raw material produced in the United States. The American textile industry ranks third, after China and India, in the global market. It consists of yarns and fabric made from raw materials, such as cotton and man-made fibers. The textile industry in the country, overall, has shown a positive trend due to the growing technical textile demand from various end-user industries, such as automotive and industrial applications. The demand for technical textiles is expected to remain high in the coming years as well, due to growth in the global economy. The United States is the world’s largest apparel market. The country also imports textile and clothing from China, India, Vietnam, Bangladesh, and Mexico.
The United States is the second-largest automotive manufacturer, after China, and had a production of 10.88 million vehicles in 2019. After it registered a growth of 3.8% in 2015, the growth slowed down to 0.8% in 2016, due to excess inventory and low demand for passenger cars. Furthermore, automotive production decreased by 8.13% in 2017, but witnessed 1.1% growth in 2018. However, the production tanked again in 2019 witnessing a decline of about 3.7%. Despite the continuous growth of the automotive industry from the past decade, the sector is exhibiting a sharp decline since the beginning of 2019 due to several factors like the trade war between China and the United States and also, due to the outbreak of COVID-19. In the first nine months of 2020, the total automobile production in the United States witnessed a decline of about 25.1% Y-o-Y over the same time period in 2019 and reached a total of about 6.24 million vehicles from 8.33 million vehicles produced in January-April 2019. The decline in production due to the virus outbreak has affected the automotive industry in the country, thereby indirectly affecting the market for polyamide films used in multiple application during the body making. All such growth depicting factors despite the temporary impact of COVID-19 is expected to provide opportunities for the superhydrophobic coatings market in the country over the forecast period.
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The global superhydrophobic coatings market is highly fragmented, with no single player occupying a major share in the market. Few players in the market are expanding their market presence through opening new offices, and are also introducing new products into the market. Furthermore, huge R&D investments by major players in the market studied are likely to have a significant effect on the market positions worldwide. The major players in the market include Rust-Oleum, NEI Corporation, UltraTech International Inc., P2i Ltd, and CYTONIX, among others.
- In March 2020, P2i announced partnership agreement with Samsung for its Barrier nano coating technology to be deployed across several smartphone designs from 2019, and extending water and liquid protection to the internal components of selected Samsung Galaxy smartphones. P2i’s Barrier would be deployed across other smartphone models in due course. The new agreement builds on an existing relationship between Samsung and P2i, dating back to 2014
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Growing Demand from the Textile Industry
4.1.2 Increasing Demand for Electric Vehicles
4.2.1 Impact of the COVID-19 Pandemic
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Patent Analysis
5. MARKET SEGMENTATION
5.1 Product Type
5.2 End-user Industry
5.2.1 Textile and Footwear
5.2.3 Building and Construction
5.2.4 Upcoming End-user Industries
220.127.116.11 Electrical and Electronics
18.104.22.168 Other Upcoming End-user Industries
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.2 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.3.4 Rest of the World
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Major Player Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 Advanced Nanotech Lab
6.4.3 Beijing Neatrition Tech Co Ltd
6.4.6 Lotus Leaf Coatings Inc.
6.4.7 Nanex Co.
6.4.8 Nasiol Nano Coating
6.4.9 NEI corporation
6.4.10 NTT Advanced Technology Corporation
6.4.11 P2i Ltd
6.4.12 Pearl Nano LLC
6.4.13 Rust Oleum
6.4.14 The Sherwin Williams Company
6.4.15 UltraTech International Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Demand for Solar Panels
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Frequently Asked Questions
What is the study period of this market?
The Superhydrophobic Coatings Market market is studied from 2016 - 2026.
What is the growth rate of Superhydrophobic Coatings Market?
The Superhydrophobic Coatings Market is growing at a CAGR of 25.48% over the next 5 years.
Which region has highest growth rate in Superhydrophobic Coatings Market?
North America is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Superhydrophobic Coatings Market?
North America holds highest share in 2020.
Who are the key players in Superhydrophobic Coatings Market?
- UltraTech International Inc.
- P2i Ltd
- NEI Corporation
Are the major companies operating in Superhydrophobic Coatings Market.