Ceramic Coating Market size worth over $13.6 billion by 2026
Published Date: September 25, 2020 Authors: Kiran Pulidindi, Hemant Pandey
According to a new research report by Global Market Insights Inc., the Ceramic Coating Market size is forecast to exceed USD 13.6 billion by 2026. The rising consumption of the product in industrial goods, such as in high-temperature components, cutting tools, dies, shapers, etc., is further projected to boost the market size from 2020 - 2026.
The demand for ceramic coatings is increasing rapidly in various end-use industries including automotive, aerospace, healthcare, and energy among others.
In the automotive industry, ceramic coatings are increasingly being adopted for exterior surface to protect from UV rays and in interior parts such as piston walls, cylinder heads and walls, and valves. The layer of ceramic coating on vehicle’s paint protects from UV rays, thus reducing oxidization. The rising automotive production and sales majorly in emerging countries, such as China, Indonesia, and Brazil, are anticipated to spur the ceramic coating market.
China has a strong automobile production base and is likely to remain the leading manufacturer in the upcoming years as well. In 2016, China’s automobile industry sold over 3.5 million units of commercial vehicles and more than 24 million units of passenger vehicles. Furthermore, the rapid adoption of electric vehicles coupled with stringent environmental regulations to reduce carbon footprint is anticipated to upsurge the demand for ceramic coatings. The aforementioned trends are projected to positively impact the ceramic coating market sales.
The popularity of thermal spray coating is growing owing to benefits, such as excellent corrosion and wear resistance, and as it allows much thicker coatings in higher deposition rates than any other coating methods. Thermal spraying method is used in various industries such as energy, oil & gas, automotive, and aviation.
In the aerospace industry, thermal spray coatings protect engine turbine blades from extreme temperatures, thereby ensuring increased reliability for long time periods. They are also used in applications such as airframe and propulsion for meeting high-quality requirements and performance; therefore, the surging aerospace industry in the U.S. and European countries is projected to propel the ceramic coating market share.
Browse key industry insights spread across 162 pages with 208 market data tables & 23 figures & charts from the report, “Ceramic Coatings Market By Type (Oxide Coating, Carbide Coating, Nitride Coating), By Technology (Thermal Spray, Physical Vapor Deposition (PVD), Chemical Vapor Deposition (CVD)) By Application (Transportation & Automotive, Energy, Aerospace & Defense, Industrial Goods, Healthcare), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020-2026” in detail along with the table of contents:
The oxide coating segment will hold a market share of around 53% in 2026
The oxide coating segment will showcase significant growth owing to its several advantages such as corrosion and wear resistance. Generally, oxide coats such as chromium, titanium, zirconium, and aluminum are used as they offer hardness, corrosion protection, shock resistance, and wear resistance. These coatings are applied on refractory bricks, pumps, chimneys, bearings, and guide bars in the steel industry.
Additionally, they are also used on cathodes and anodes, solid oxide fuel cells, hydraulic cylinders, biomedical implants, and calendar rollers. Moreover, oxide coatings also find wide applications in the automotive industry.
The carbide coating segment is projected to grow significantly in the next few years. The rising application of carbide coatings in oil & gas exploration in order to avoid corrosion and reduce exploration cost will further drive the overall ceramic coating market growth. Additionally, carbide coatings are widely used in sports sectors such as in bicycles, golf clubs, and horse hooves. However, the high cost of carbide coatings may hamper the demand for this product in different industries.
Asia Pacific to exhibit steady growth during the forecast period
Asia Pacific dominated the market and generated revenue over USD 3.6 billion in 2019. The Asia Pacific ceramic coating market is majorly driven by growing investments in the automotive industry and improving healthcare industry. Additionally, the rapid industrialization and improvement in economic conditions of consumers are likely to offer growth opportunities to the ceramic coatings market.
The emerging automotive, healthcare, and energy sectors within the region are further projected to propel the ceramic coating market demand. Moreover, North America is expected to grow significantly owing to the rising application of ceramic coatings in the aerospace industry. The aircraft manufacturers, such as Boeing and Airbus, use ceramic coatings in aircraft manufacturing. Ceramic coatings offer outstanding resistance to friction, heat, and solvents.
Some of the top players of the ceramic coating industry include Du Pont De Nemours & Company, APS Materials Inc., Praxair Surface Technologies Inc., Bodycote PLC, Nasiol Nano Coatings, Aremco Products Inc., Ultramet, Keronite Group, E.I. Morgan Technical Ceramics, Cetek Ceramic Technologies Ltd., Kurt J. Lesker Co., and Saint Gobain S. A. among others.
The key participants of the global ceramic coating market are mainly focused on product innovation to hold a strong product portfolio and market share. Companies are majorly investing in research & development activities.