Ceramic Coating Market - By Product Type (Oxide Coating, Carbide Coating, Nitride Coating), By Technology (Thermal Spray, Physical Vapor Deposition (PVD), Chemical Vapor Deposition (CVD)), By Application & Forecast, 2021-2027
Report ID: GMI2204
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Published Date: December 2021
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Report Format: PDF
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Base Year: 2020
Companies covered: 12
Tables & Figures: 231
Countries covered: 19
Pages: 220
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Ceramic Coating Market
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Ceramic Coating Market Size
Ceramic Coating Market size was valued at around USD 8.30 billion in 2020 and will exhibit a growth rate of over 7.3% from 2021 to 2027. Emerging product applications in the aerospace and healthcare industries are further expected to offer new growth opportunities to the overall industry during the forecast period.
Ceramic coating is an inorganic material that is often manufactured and applied at high temperatures. This product is mostly composed of silica, silicon carbide, alumina-magnesia, alumina, hafnia, titania, and silicon nitride. Ceramic coating provides various advantages, such as increasing component longevity, decreasing heat on high-temperature components, reducing friction, preventing corrosion, and improving surface attractiveness. Furthermore, it has good qualities, such as heat resistance, anti-corrosion, and weathering efficiency, which will drive the demand for ceramic coatings in various sectors.
The rising penetration of ceramic coatings in developing countries, such as India, China, Indonesia, and Brazil, is projected to boost the overall industry growth. The increased automotive manufacturing in these countries is expected to drive the need for ceramic coatings in automobiles. Owing to its excellent anti-corrosion and abrasion properties, ceramic coating finds wide applications in the steel sector, which include chimneys, refractory pumps, bearings, and bricks. Oxide coatings are widely used coatings due to their properties such as corrosion protection, wear resistance, shock resistance, and hardness.
Ceramic coatings find numerous applications in the transportation, energy, aerospace, and healthcare industries. The surging usage of ceramic coating in marine industry will boost the consumption of the product. However, high product costs may hamper industry growth. Additionally, a declined growth in the automotive industry due to the COVID-19 pandemic is expected to be a major restraining factor in the global ceramic coating market. Nevertheless, technological advancements, such as nanocoating, are likely to open new growth opportunities for the overall industry.
Ceramic Coating Market Analysis
The oxide coating segment dominated the global ceramic coating market value and is projected to reach around USD 7 billion by 2027. Oxide coatings are widely used in industries including automotive, aerospace, textile, and healthcare. Oxide coatings offer excellent electrical or thermal insulation, corrosion resistance, and wear resistance.
The growing use of these coatings in the automotive and oil & gas industries will fuel product demand. Furthermore, the carbide coating segment is expected to witness significant growth owing to the rising applications of these coatings in the oil & gas industry. Carbide coatings are commonly utilized in oil & gas exploration to cut expenses.
Thermal spray segment accounted for 50% market share in 2020 and is expected to reach USD 8 billion by 2027, registering a CAGR of 7.5% from 2021 to 2027. Thermal spray coating is gaining popularity due to its advantages such as good corrosion & wear resistance and the ability to deposit significantly thicker coatings at higher deposition rates than conventional coating processes. The use of ceramic coatings through thermal spray technology is mainly for thermal barriers, dielectric strength, corrosion protection, and sliding wear.
Additionally, physical vapor deposition is anticipated to grow substantially due to superior thermal efficiency and cheaper cost. The physical vapor deposition process, on the other hand, is less resistant to high surface temperatures and pressures. As a result of these drawbacks, PVD is unsuitable for the aerospace sector.
The transportation & automotive segment was valued at USD 3 billion in 2020 and with a CAGR 7.5% is expected to reach USD 5 billion by 2027 due to the growing product adoption in the automotive industry. Ceramic coatings are widely used in the interior and exterior surfaces of vehicles. The surging automotive production, especially in the Asia Pacific and Europe, is a key factor influencing product demand. Ceramic coating is also used in engine parts to improve heat shielding, friction reduction, and wear resistance. It is also commonly used on the exteriors of automobiles for UV protection.
The aerospace & defense segment is anticipated to grow at a CAGR of 7.7% through 2027. The increased use of oxide and carbide coats in engine components, space shuttles, insulating tiles, rocket exhaust cones, and windshield glass integrated into aircraft is stimulating the overall market growth. According to the Aerospace Industries Association, the global aerospace & defense industry accounted for around USD 874 billion in 2020. Surging aircraft demand along with technological developments is further anticipated to boost the overall ceramic coating market growth.
Asia Pacific accounted for the largest market share of around 40% in 2020. The region is expected to grow at a CAGR of 7.6% and account for USD 5 billion by 2027 due to the growing automobile production, mainly in China and India. Additionally, the rising usage of ceramic coatings in industrial applications will further boost industry growth in the near future.
Furthermore, increased product use in the steel industry for components such as chimneys, refractory pumps, and bearings is likely to drive market growth. Moreover, growing European aerospace industry, especially in countries including Germany, France, and Russia, is anticipated to enhance the ceramic coating market sales in the region.
Ceramic Coating Market Share
Major players in the ceramic coating industry are primarily focused on offering cost-efficient products to enhance their business capabilities. Some players are expanding their presence in developing countries to cater to the increasing product needs. Key manufacturers in the ceramic coating market include
The ceramic coating market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons & revenue in USD billion from 2017 to 2027 for the following segments:
By Product Type
By Technology
By Application
By Region