September 22, 2022 12:25 ET | Source: Straits Research Straits Research
New York, United States, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Several surfaces can be rendered water-repellent by applying a microscopically thin covering known as a super hydrophobic coating. Superhydrophobic coatings are nanotechnology applicable to various industries, including electronics, aerospace, automotive, and marine. It is helpful in several products and materials, including textiles, building and construction materials, and more.
The increasing use of hydrophobic coatings in catheters and guidewires and rising demand for anti-corrosive coating in maritime projects are among the factors contributing to the market's growing demand.
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Growing Demand from the Textile Industry to Drive the Global Superhydrophobic Coatings Market
Silicon dioxide (SiO2)-based super hydrophobic coating spray is one of the most effective nano-coating sprays. This unique water-repellent, extremely hydrophobic nano-coating spray is ideal for protecting virtually any textile against water, dirt, contamination, and stains. It will not influence appearance, breathability, color, or handling and is simple to maintain. Superhydrophobic surfaces have a variety of valuable properties, including self-cleaning, oleophobicity, anticorrosion, drag reduction, non-adhesion, low surface tension, and the prevention of snow accumulation, among others. In addition to a high static contact angle (>150°), the requirements for distinguishing a superhydrophobic surface are a high dynamic contact angle or rolling off angle. Therefore, this coating can be utilized in the military business, sports industry, swimwear, etc.
China is the largest textile producing and exporting country in the world. According to the Ministry of Industry and Information Technology, China's textile and apparel exports increased by 9.6% annually to USD 291.22 billion in 2020. Textiles and apparel are one of the leading sectors of the European manufacturing industry in the European Union, with a 2019 turnover of 162 billion euros and exports of 61 billion euros. The textile industry in India is one of the most important economic sectors, providing about 2% of the country's gross domestic product. India is the world's second-largest producer and exporter of textiles and apparel after China. The textile industry is one of India's oldest industries, stretching back millennia. Thus, the analyzed market is driven by the expanding textile industry, which includes a sizeable share of waterproof apparel.
Growing Demand for Solar Panels to Provide Opportunities for the Global Superhydrophobic Coatings Market
The solar power business is one of the industries with the quickest growth rate in the world. According to the International Energy Agency (IEA), global solar PV capacity additions reached around 107 GW in 2020, reflecting a steady increase from 2019.
After 2020, the International Energy Agency (IEA) predicts that net solar PV installations in Europe will slowly climb from 21 GW in 2021 to an average of 25 GW annually between 2023 and 2025. This development is mainly driven by an increase in governmental assistance to reach the Renewable Energy Directive's 32% renewable energy target for the European Union by 2030. In 2019, the United Kingdom installed the third-highest solar capacity in Europe, with about 13,1 GW of capacity. In 2019, the country only added 233.4 MW of new capacity. However, solar capacity in the United Kingdom is predicted to expand from 2,711 MW to 15,677 MW by 2023. This accounts for the 4% annual growth rate of solar electricity. This is anticipated to drive the market for superhydrophobic coatings over the forecast period.
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Regional Analysis of the Global Superhydrophobic Coatings Market:
By region, the global superhydrophobic coatings market is segmented into Asia-Pacific, North America, Europe, and the Rest of the world.
North America accounted for the largest market share and is estimated to grow at a CAGR of 26.6% during the forecast period. The United States possesses the world's largest aerospace industry. According to the Federal Aviation Administration (FAA), the overall fleet of commercial aircraft increased from 7,397 in 2018 to 8,270 in 2037. In addition, the US mainliner carrier fleet is expected to grow at a rate of 54 aircraft per year as the existing fleet ages, creating opportunities for the market for superhydrophobic coatings. In addition, the United States performs ongoing research into photovoltaics and concentrated solar power. It ranks among the top nations in the world for solar-generated electricity. Solar electricity is currently economically competitive with traditional energy sources in numerous places, including California, Hawaii, and Minnesota, propelling the market analyzed in the United States.
Europe is the second largest region. It is estimated to reach an expected USD 27 million by 2030, registering a CAGR of 23.4% during the forecast period. In Germany, superhydrophobic coatings are anticipated to experience significant growth in the coming years, with the construction industry playing an increasingly important role due to the growing need to extend the life of concrete structures and reduce the maintenance costs associated with high-rise glass buildings. Germany's textile market is second only to its food and beverage industry in size. The German textile industry has prioritized quantity over quality for generations. In recent decades, however, the emphasis has switched to quality, and the country has become a significant player in the fashion industry. In 2019, the German textile industry's yearly revenue was approximately 30 billion euros. The textiles and clothes business is Germany's second-largest consumer goods sector. This region's market is anticipated to be significantly impacted by the rising demand for technical textiles.
Asia-Pacific is the third largest region. Regarding GDP, China is the largest economy in the Asia-Pacific area. According to the Chinese National Bureau of Statistics, the construction industry's income has climbed from CNY 17.67 trillion in 2014 to CNY 24.84 trillion in 2019. Increasing household income levels and rural-to-urban migration are anticipated to continue driving demand for the residential construction industry in the country. Both the public and private sectors are placing a greater emphasis on affordable housing, which is contributing to the expansion of the residential construction industry. In the next five years, till 2025, the country will invest $1.43 trillion in significant development projects. China has been promoting and undergoing a continuous urbanization process, with a target rate of 60% by 2020. The need for more living space in urban areas as a result of urbanization and the desire of middle-class urban residents to improve their living conditions may have a significant impact on the housing market, leading to an increase in residential construction in the country, which will have a positive effect on the domestic market for superhydrophobic coatings.
The key players in the global superhydrophobic coatings market are
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Global Superhydrophobic Coatings Market: Segmentation
Table of Content and Figure @ https://straitsresearch.com/report/superhydrophobic-coatings-market/toc
Global Industrial Coatings Market to Grow at a CAGR of 3% by 2030
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