Hydrophilic Coatings Market: Rising Usage in Medical Devices to Remain Key Growth Factor, TMR

The global hydrophilic coatings market features a highly fragmented competitive landscape owing to the presence of a large number of vendors, with the leading five vendors accounting cumulatively for only around 20% of the overall market in 2016, states a recent report by Transparency Market Research (TMR). Exhibiting a high level of competition, standing of companies in the market is highly influenced by their focus on R&D activities aimed at keeping deliverables technologically advanced and improvised as per changing consumer demands.

Strategic acquisitions aimed at expanding geographical presence and adding new products to portfolios are also popular strategies adopted by companies to stay ahead of competition. In instance is the January 2016 alliance between AdvanSource Biomaterials Corp. and Medibrane Ltd., a leading Israeli coating technology company. AdvanSource Biomaterials entered into the collaboration.

Transparency Market Research estimates that the global market for hydrophilic coatings was valued at US$481.6 mn in 2016 and will reach US$1,026.6 mn in 2025, expanding at a CAGR of 8.8% between 2017 and 2025.

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Polymers to Remain Most Preferred Substrate for Coating Hydrophilic Coatings

On the basis of the type of substrate on which hydrophilic coatings are applied, the segment of polymers accounted for the dominant share of around 48% of the overall market in 2016. The vast usage of polymers coated with hydrophilic coatings in the medical devices industry is expected to keep the demand for polymers as a substrate high in the global hydrophilic coatings market over the forecast period as well. In terms of geography, North America has been dominating the hydrophilic coatings market over the past few years. The region held over 35% share of the global demand for hydrophilic coatings in 2016 and the trend is projected to continue during the forecast period as well.

Rising Demand for High-end Medical Devices to Boost Global Consumption

One of the key forces driving the global market for hydrophilic coatings is the increasing usage of these coatings in the field of medical devices. The controlled level of lubricity allowed by hydrophilic coatings to medical devices, which assuages the natural resistance that vascular inner surfaces exhibit as a result of striction, making their usage more convenient when in use across vascular operations, makes them more preferable as compared to other coatings.

These coatings also decrease the possibility of infection due to the presence of antimicrobial agents and increase the ease with which a medical device is inserted into the body. The vast rise in expenditure on healthcare due to rising demand for better medical and healthcare facilities, especially across emerging economies boasting a rapidly rising middle class with high disposable incomes, will boost the consumption of medical devices, which, in turn, is expected to drive the market for hydrophilic coatings.

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Strict Regulatory Compliances to Negatively Affect Market Growth

Although the global hydrophilic coatings market has excellent growth prospects, some factors are expected to hinder its growth to a certain extent over the forecast period. These include stringent government regulations related to medical devices and the high processing costs involved in coating medical devices with hydrophilic coatings. Stringent regulations such as the FDA 510 K Clearance Act refrain new hydrophilic coatings manufacturers from entering the market. Additionally, the high costs associated with processing and licensing hydrophilic coatings compel manufacturers to look for inexpensive alternatives, hampering the growth prospects of the global hydrophilic coatings market to a certain extent.

For the study, the market has been segmented as follows:

Hydrophilic Coatings Market – Substrate Analysis

  • Polymers
  • Metals & Metal Alloys
  • Glass & Other Ceramics

Hydrophilic Coatings Market – Application Analysis

  • Automotive
  • Aerospace
  • Medical Devices
    • Cardiovascular
    • Urology
    • Neurology
    • General surgery
    • Others (Ophthalmology, gynecology, etc.)
  • Optical
  • Others (including Buildings, etc.)

This review of the global hydrophilic coatings market is based on a recent market research report, titled “Hydrophilic Coatings Market (Substrate Type – Polymers, Metals and Metal Alloys, and Glass and Other Ceramics; Application – Automotive, Aerospace, Medical Devices (Cardiovascular, Urology, Neurology, and General Surgery), Optical, and Buildings) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights for decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, TMR employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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Tributyl Citrate Market by Regional Analysis, Key Players and Forecast 2024

Tributyl Citrate (TBC), also known as Butyl Citrate, Tri-n-butyl citrate, and Tributyl Ester, is a colorless, non-toxic, and oily liquid with a high boiling point and fruity flavor at room temperature. It is insoluble in water, but dissolves in acetic acid, acetone, castor oil, carbon tetrachloride, mineral oil, and methanol. Known to react with oxidizing reagents, TBC is produced through esterification of citric acid with 1-butanol and concentrated sulfuric acid acting as a catalyst.

TBC is widely used in food wrapping films, soft toys for children, cosmetics, and as a plasticizer for polymers such as poly vinyl chloride (PVC) and its copolymers. It aids maintenance of color when processed with resins due to its excellent heat stability.

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Tributyl Citrate (TBC) Market: Trends

Products manufactured using TBC are able to withstand cold, mildew, and water. It is used for granulation of non-toxic PVC, besides being an authorized plasticizer in various industries including food contact, food packaging materials, food additives, pharmaceuticals, medicines, cosmetics, flavors and fragrances, and adhesives. It is also utilized in cigarette filters to retain moisture. TBC is a competent fragrance carrier, and thereby applied on a large scale in cosmetic products.

Salient properties of TBC include good compatibility, weather resistance, non-toxicity, limited volatility, and high plasticizing efficiency. It recently replaced phthalate ester, which is carcinogenic and is known to have adverse effects on human health, as a safer, and hence, preferred alternative. With increasing environmental awareness and improvements in regulations, the TBC market is expected to experience a steady growth rate during the forecast period.

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Tributyl Citrate (TBC) Market: Region-wise Outlook

TBC is extensively employed as a plasticizer and food additive in the global market. In Europe, it finds applications in packaging of food and medical products, pharmaceuticals, flavors and fragrances, children’s soft toys, and manufacturing of cosmetics.

With prominent economies such as China formulating rules and regulations concerning the limited usage of toxic plasticizers and incorporating TBC in multiple sectors, the market in Asia Pacific is also anticipated to expand in the next few years.

Latin America and Middle East & Africa are likely to witness a comparatively sluggish rate of growth during the forecast period owing to the lack of TBC-related awareness in this region.

Tributyl Citrate (TBC) Market: Key Players

Some of the key players operating in the global TBC market include Chemport India LLP, Vertellus Holdings LLC, and Jungbunzlauer Suisse AG.

Surfactants Market Driven by Rising Demand for Personal Care Products, Industrial Cleaners, TMR

The global surfactants market is fragmented to a considerable degree and features several players with a significant share. Some of the leading players in the global surfactants market are BASF SE, The Dow Chemical Company, Archer Daniels Midland Company, Galaxy Surfactants Limited, Huntsman Corporation, Clariant International Ltd., Evonik Industries AG, P&G Chemicals, Lonza Group Ltd., and Akzo Nobel NV. The steady urbanization across the world is likely to ensure steady demand from several of the leading application segments of the global surfactants market, leading to the market retaining its fragmented competitive landscape in the coming years. Region-specific players could also make a significant market on the global surfactants market in the coming years, as the demand dynamics of the surfactants market are often region-specific.

According to Transparency Market Research (TMR), the global surfactants market is expected to reach a valuation of US$28.8 bn by 2023. The market is likely to exhibit a steady 4.20% CAGR between 2015 and 2023.

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Anionic Surfactants to Retain Dominance in Global Surfactants Market

The global surfactants market is bifurcated into the major segments of cationic and anionic surfactants on the basis of product type. Of these, anionic surfactants are expected to be the dominant segment in the global surfactants market in the coming years. Anionic surfactants find large-scale use in industrial detergents and cleaners, which has been a key factor in their rising demand. Nevertheless, cationic surfactants are also likely to witness steady demand over the coming years, leading to the product breakdown of the global surfactants market remaining largely unchanged over the forecast period. Non-ionic and amphoteric surfactants are likely to occupy a relatively minor position in the global surfactants market in the coming years.

Geographically, the global surfactants market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Of these, Asia Pacific is expected to retain its current position as the leading regional contributor to the global surfactants market in the coming years. The rising demand for surfactants from emerging countries such as India, China, Malaysia, Indonesia, and Thailand is a key factor driving the Asia Pacific surfactants market.

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Nevertheless, The North America surfactants market is also likely to make steady progress over the coming years. The firmly established presence of several leading players in the global surfactants industry in North America is a key factor responsible for the strong growth prospects of the region’s surfactants market. Consistent demand from the industrial sector is likely to help the North America surfactants market’s growth over the forecast period. Apart from these two leaders, Latin America and the Middle East are also likely to make a considerable contribution to the global surfactants market’s growth in the coming years thanks to the rapid urbanization in several countries in these regions.

Rising Demand for Personal Care Products Crucial for Global Surfactants Market

The global surfactants market is driven primarily by the booming global personal care products sector. Consumers across the world are becoming increasingly conscious about their appearance as well as persona hygiene, leading to rising demand for a variety of personal care products. The demand for skin care and hair care products has also been driven by the rising pollution levels across the world, which is likely to remain a key factor indirectly linked to the global surfactants market. The rapid urbanization in developing economies has also boosted the demand for household detergents, which already hold a leading share in the surfactants market in developed regions. As a result, household detergents are likely to remain the leading application segment of the global surfactants market.

On the other hand, the global surfactants market could face a significant roadblock in the form of the steady shift in regulatory frameworks. Some surfactants have been shown to have an adverse effect on human health as well as the environment, which could restrict their demand in regions with strict regulatory frameworks concerning the use of solvent-based detergents.

Paraformaldehyde Market: Resin and Agrochemical Manufacturers Stretch Demand to Leverage Better Benefits, TMR

The global paraformaldehyde market has been predicted by Transparency Market Research (TMR) to witness a distinctive enhancement in its competitive scenario on account of the existence of a hefty count of players. With a view to achieve one of the topmost positions in the worldwide paraformaldehyde market, quite a few new entrants could look to enlarge their product horizon. Most new entrants in the worldwide paraformaldehyde market have been anticipated to be attracted to the ballooning demand in the industry.

The increasing level of competition in the worldwide paraformaldehyde market could create a significant awareness among consumers related to the application of the product across a wide range of industries. The advent of new products in the worldwide paraformaldehyde market has also been expected to be a result of the intensifying competition among players. A surging count of mergers and acquisitions could be witnessed in the worldwide paraformaldehyde market, considerably contributing toward growth during the forecast period. Few of the leading companies operating in the worldwide paraformaldehyde market have been foretold to be INEOS Group Limited, Feno Resinas S.A. de C.V., Shouguang Xudong Chemical Co., Ltd., Celanese Corporation, and Nantong Jiangtian Chemical Co., Ltd.

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The worldwide paraformaldehyde market could expand at an estimated CAGR of 6.0% from 2015 through 2023, as per the statistics obtained by TMR in its latest report. By the end of the forecast period, the worldwide paraformaldehyde market has been envisaged to earn around a US$0.79 bn. In the past, resins and agrochemicals had together accounted for a telling share in the worldwide paraformaldehyde market and might continue their dominance until the last forecast year. Owing to a colossal demand for agrochemicals, Asia Pacific could secure a larger share in the worldwide paraformaldehyde market by the concluding forecast year.

Resins, Agrochemicals, and Other Applications Pave Way for Tangible Growth

The demand in the world paraformaldehyde market has been envisioned to increase at an impressive rate due to a growing number of applications, resins, agrochemicals, lubricant additives, medical appliances, and papermaking to name a few. The magnifying adoption of genetically modified crops (GMCs) could result in an escalating demand for glyphosate. This has been foreseen to be another crucial factor positively impacting the advancement of the world paraformaldehyde market. In the near future, the development of the world paraformaldehyde market could gain acceleration on account of a mounting demand for resins.

Increasing technological advancements and emphasis on the evolution of novel products have been projected to be tremendously vital for the advancement of the world paraformaldehyde market.

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Restrictions on Application of Glyphosate Break Growth Consistency

During the forecast period, the international paraformaldehyde market could face restrictions in its progress due to numerous concerns regarding the limitations and sanctions of glyphosate. A number of countries in Europe and Latin America have been forecasted to scrutinize the agrochemicals market, thus raising eyebrows on the usage of glyphosate on agricultural produce.

However, in the foreseeable future, participants could take advantage of profit-making opportunities in the international paraformaldehyde market birthed from the engagement of paraformaldehyde as a lubricant additive and drilling fluid in the oil and gas sector. The application of paraformaldehyde in the production of bismerthiazol, machete, butachlor, and acetochlor has been prophesied to be a great opportunity to cash in on in the international paraformaldehyde market. Vendors could also find favorable prospects with benefits such as improved productivity and better reaction control that paraformaldehyde brings to the table.

The global paraformaldehyde market has been segmented as presented below:

Global Paraformaldehyde Market – Application Analysis

  • Resins
  • Agrochemicals
  • Medical Applications
  • Development of Photographic Films, Papermaking, Oil Field Chemicals, and Lubricant Additives 

The information presented in this review is based on a TMR report, titled, “Paraformaldehyde Market (Application – Resins, Agrochemicals, Medical, and Development of Photographic Films, Papermaking, Oil Field Chemicals, and Lubricant Additives) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.” 

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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