Ceramic Coatings Market to Hold the Largest Market Share by 2027, Fortune Business Insights™

 

The global ceramic coatings market  size is anticipated to hit USD 3.32 billion by 2026, exhibiting a CAGR of 7.1% during the forecast period. High versatility of ceramic coatings will boost their adoption across industries, states Fortune Business Insights™ in its new report, titled “Ceramic Coatings Market Size, Share & Industry Analysis By Type (Oxide, Carbide, Nitride, and Others), By Coating Method (Thermal Spray, Physical Vapor Deposition (PVD), Chemical Vapor Deposition (CVD), and Others), By End-Use (Transportation & Automotive, Energy, Aerospace & Defense, Industrial Goods, Healthcare, and Others), and Regional Forecast, 2019-2026”. Ceramic coatings, or high solids coatings, are essentially paints that are loaded with ceramic microspheres. Unlike conventional paints that contain more than 50% water, ceramic coatings comprise of dense solid microspheres, which makes them a highly attractive coating solution in many industries. For example, the oil & gas industry can potentially lose millions of dollars due to ineffective coating. Therefore, the industry extensively employs ceramic coating materials to pipes and other equipment. This is because, when dried, a ceramic coating can form a hardened and impenetrable layer on the metal substrate on which it is applied, thereby preventing corrosion. Furthermore, their low friction coefficient makes these coatings energy-efficient, resulting in their high usage in manufacturing processes.

                                      

Salient Features of the Report

According to the ceramic coatings market report, the value of the market was at USD 1.96 billion in 2018. Other highlights of the report include:

·         In-depth understanding of market drivers and trends;

·         Panoramic overview of the general industry outlook;

·         Piece-meal study of the different market segments;

·         Detailed assessment of the market restraints; and

·         Exhaustive analysis of the regional developments and competitive dynamics of the market.

 

Market Restraint

High Cost of Ceramic Coatings to Negatively Impact the Market

While its wide applicability in various industries is one of the top ceramic coatings market trends, these coatings come with a hefty price tag, which may slow down their demand. For instance, ceramic coating on a budget car can cost between Rs. 25,000 and Rs. 50,000 in India, which may not be affordable for every buyer. Moreover, the cost can go higher if the quality of the coating is superior. In addition to this, ceramic coatings have a few more drawbacks, which may hamper their uptake, especially in the automotive industry. For example, since these coatings are fundamentally a form of paint, even though they blend with the underlying metal, they cannot protect cars’ surfaces from usual scratch agents such as rocks and dust. Similarly, water-based pollutants can create smudges and spots on the surface of a vehicle even after they have evaporated. Unfortunately, ceramic coatings cannot safeguard surfaces from such pollutants.

 

 Regional Analysis

Escalating Demand for Automobiles to Drive the Market in Asia-Pacific

Asia-Pacific boasted a market size of USD 813.1 million in 2018 and is expected to lead the ceramic coatings market share in the forthcoming years mainly on account of exponential growth of the automotive industry in the region. The region is also home to China, the world’s largest market for automobiles, which bodes well for this market. In Europe and North America, the market will be mainly driven by the rapid advancements in their respective aerospace industries. This, coupled with a steady demand for vehicles and a robust transportation infrastructure, will further propel the market in North America and Europe.

 

Competitive Landscape

Acquisitions and Innovations to Characterize Market Competition

The ceramic coatings market analysis indicates a period of exciting competition in this market as key players look to cement their market position. Their most preferred strategies include mergers and acquisitions and ramped up investment in R&D to launch innovative products.

 

Industry Developments:

·         December 2019: Bodycote, the UK-based coatings specialist, announced that it had entered into a definitive agreement to take over the US-based surface coating technologist Ellison Surface Technologies. Ellison is a reputed provider of thermal sprays and coatings to the US aerospace industry and its acquisition would enable Bodycote to unify its expertise with Ellison’s innovations, providing a gateway into the North American market.

·         August 2019: US-based Saint-Gobain Ceramic Materials introduced its newest innovation in Boron Nitride products, the CeraGlide™. The new product line is engineered to address issues related to protection, lubrication, and mold release, especially under conditions of high temperature. The offering will be available in liquid form for brushing applications, but it can be diluted with water for spraying purposes as well.

 

List of Companies Profiled in the Report:

•          Saint-Gobain

•          Morgan Advanced Materials

•          Integrated Global Services, Inc.

•          APS Materials, Inc.

•          Praxair S.T. Technology, Inc.

•          Ferro Corporation

•          Keronite

•          Aremco

•          Kurt J. Lesker Company

•          Bodycote

 

Information Source:

https://www.fortunebusinessinsights.com/enquiry/queries/ceramic-coatings-market-102325