The global Ceramic Coating Market is expected to reach USD 19.19 billion by 2030, expanding at a compound annual growth rate (CAGR) of 7.8%, according to a new report by Grand View Research, Inc. This is due to the increasing utilization of automobile engine components and the aerospace & defense industry, which is projected to propel the market growth during the forecast period. Furthermore, ceramic coatings are being extensively used in the automobile and transportation industry, owing to their anti-corrosion properties and offering resistance to abrasion and heat. Ceramic coatings are also used for providing a finished polish look on the exterior body of cars slowly replacing wax.
With growing research and development activities,
ceramic coatings are venturing into wider application segments. Currently,
automobiles and transportation are expected to be the largest application for
ceramic coatings. However, with further product innovations, ceramic coating is
likely to have a larger application share than its counterparts, such as PTFE
or regular coatings. For instance, in 2021, IGL Coatings launched graphene
reinforced product Eco coat Kenzo. Eco coat Kenzo revolutionized the ceramic
coatings industry by developing a zero-VOC, high-solids recipe. Its unique high
solids recipe distinguishes it, resulting in global demand for the smooth and
bright ceramic coating.
The COVID-19 pandemic significantly impacted the
ceramic coatings industry. Demand for all categories dropped drastically in
2020 due to manufacturing disruptions in key end-use industries. As the ceramic
coating industry does not fall under essential services, it experienced a
negative impact on the year-on-year growth rate due to reduced demand from key
sectors such as automotive, aerospace, steel, electronics, and others.
Related Press Release@ Ceramic Coating Market Report
Ceramic Coating Market Report
Highlights
- The oxide segment accounted for 57.2% of the global revenue share
in 2021. This is due to oxides are cheaper compared to other coatings such
as carbide and nitride
- Thermal spray accounted for around 74% of the revenue share in the
global market. Since this type of mode is the most popular choice among
ceramic coating producers, it can be applied to almost any type of
material composition and has a high density
- The carbide segment is expected to expand at a CAGR of 7.7% during
the forecast period. This is due to the carbide coatings' gradual entry
into the sports industry, where it is used on applications such as horse
hooves, golf clubs, and bicycles
- Asia Pacific dominated the market in 2021 with more than 44% of
global consumption. This is due to the presence of a large number of
industries coupled with tightening environmental norms
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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