HYDROPHOBIC COATINGS MARKET ANALYSIS

Regional Analysis

Hydrophobic Coatings Market Outlook - Asia Pacific poised to be key growth engine

The geographical coverage for global hydrophobic coatings market includes North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia-Pacific accounted for the maximum share in the global market in 2015 and is expected to retain its dominance throughout the forecast period. This is mainly attributed to rampant growth of various end user industries such as building & construction and automotive in the region, backed by supportive government initiatives such as tax rebates part of the Make in India campaign by the Indian government. The automotive sector witnessed FDI in the tune of US$ 15.79 billion during 2000–2016, with the country projected to be the largest producer of automotive by 2020. This argues favorably for growth of the hydrophobic coatings market in the region. Furthermore, booming medical industry in India and China and increasing production of medicals tools and related equipment, which is also expected to drive growth of the hydrophobic coatings industry in APAC. North America and Europe accounted for over 50% of the total market share owing to the high production volumes of end-user segments including automotive, aerospace, and medical devices.