TAGS: Automotive Coatings Smart Coatings
The expansion of automotive, construction, and consumer electronics industries has fueled the demand for superhydrophobic coatings in the past few years.
The market is projected to expand from a value of US$ 12.67 Mn in 2020 to US$ 319.52 Mn by 2031, at a prominent CAGR of 34.1% during the forecast period.
Electronics & Telecommunication Industry Propels Market
The boom witnessed by the electronics & telecommunication industry, globally, is a key factor driving the global market for superhydrophobic coatings.
Superhydrophobic coatings are extensively utilized in electronics and telecommunications, as they are heat resistant and easily applied on the surface. They are useful in shielding sensitive electronic parts that can be easily damaged by water.
The rise in demand for water-resistant electronic products is expected to increase further over the next couple of years, owing to rising disposable incomes of people and consequent demand for superior & durable products, thereby propelling the superhydrophobic coatings market.
Source: TMR