The global superhydrophobic coatings market is fragmented and immensely competitive, making it well-poised to register a double-digit growth rate during the forecast period. In the superhydrophobic coatings market.
The thriving automotive, construction, and consumer electronics industries have fueled the demand for superhydrophobic coatings over the years. US $ 2.90 mn in 2015 to reach US $ 37.1 mn by 2024 at astounding CAGR of 34.3% during the forecast period. By volume, the superhydrophobic coatings market wants to expand at 37.3% CAGR from 2016 to 2024.
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Rapid Industrialization Drives Demand for Superhydrophobic Coatings in APAC
The global market for super hydrophobic coatings includes North America, Latin America, Asia Pacific, Europe and the Middle East and Africa. In terms of volume, North America led the superhydrophobic coatings market in 2015, followed by Europe. Robust development of the electronics and telecommunication industry in the North America, especially in the US, are the key drivers in the region.
The scenario is likely to be similar to Europe in the near future. Countries in Western Europe as Germany and the UK are projected to be the key consumers of superhydrophobic coatings during the forecast period.
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P2i Limited, Cytonix, LLC, The Sherwin-Williams Company, DryWired, LLC, UltraTech International, Inc., Sto Group, Surfactis Technologies, Nanex Company, NTT Advanced Technology Corporation, NEI Corporation, Lotus Leaf Coatings, Inc., Rust-Oleum Corporation, Aculon, Inc., and Artekya Ltd. are some of the leading players in the global superhydrophobic coatings market.