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April 13, 2016 05:30 ET

Asia-Pacific Spearheads Growth in Global Hydrophobic Coatings Market, Reports BCC Research

WELLESLEY, MA--(Marketwired - April 13, 2016) - The global hydrophobic coatings market should demonstrate solid market growth from 2015 to 2020. BCC Research reveals in its new report that the dominant Asia-Pacific region should lead all regions in the market with the highest five-year compound annual growth rate (CAGR).

Hydrophobic coatings are thin layers of waterproof substances on substrates. Also known as water-repellant coatings because of their ability to repel water, hydrophobic coatings have a surface contact angle of 90 degrees to 150 degrees, while coatings that have a surface contact angle of more than 150 degrees are called superhydrophobic coatings. Four types of coatings typify the market: polysiloxanes, fluoroalkylsilanes, fluoropolymer and other coatings.

The global market for hydrophobic coatings is expected to increase from $1.3 billion in 2015 to more than $1.8 billion in 2020, reflecting a five-year CAGR of 6.4%. Anti-corrosion hydrophobic and superhydrophobic coatings as a segment should grow from $328.5 million in 2015 to $453.7 million in 2020, demonstrating a five-year CAGR of 6.7%. Anti-microbial hydrophobic and superhydrophobic coatings as a segment is expected to total $338.1 million by 2020, up from a projected $271.1 million in 2015, courtesy of a five-year CAGR of 7.4%.

Hydrophobic coatings have major applications in the building and construction, automotive and aerospace sectors, in addition to other industries. Among all applications, the building and construction and automotive sectors account for 41% of the global hydrophobic coatings market.

With the recovery of the global economy, construction activities have increased globally, including in the Asia-Pacific and North American regions, which have increased the demand for hydrophobic coatings. A jump in global vehicle sales has increased demand for automotive hydrophobic coatings, as well.

Growing demand for hydrophobic coatings with higher contact surface angle and higher durability has spurred companies to develop coatings using advanced technologies. These factors have created huge opportunity for players in the hydrophobic coatings industry in both emerging and developed markets. In addition, increasing demand for the various properties of hydrophobic coating and compatibility of coatings with various substrates are contributing to market growth.

The Asia-Pacific region is primarily driving global growth in the market. This region includes manufacturing hubs for the building and construction and automotive sectors, which is a key driver of the market in this region.

"In 2014, the Asia-Pacific region accounted for 47.2% of the global market, followed by North America and Europe with 24.2% and 20.2%, respectively," says BCC Research analyst Aneesh Kumar. "Growth of the automotive, building and construction, power and energy, electronics and textile industries in Asia-Pacific is expected to increase the sales of hydrophobic and superhydrophobic coatings through 2020."

Hydrophobic and Superhydrophobic Coatings: Technologies and Global Markets (AVM125A) analyzes the key players, competitive intelligence, market dynamics, applications and patent activity. The report also examines drivers and obstacles, offers trends based on data from 2014, 2015, and projects CAGRs through 2020.

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