Ceramic Coatings Market is anticipated to rise at a CAGR of 6.7% from 2020 to 2030
The Global Ceramic Coatings Market size is estimated to be USD 8.72 billion in 2019 and is predicted to reach USD 17.80 billion by 2030 with a CAGR of 6.7% from 2020-2030. Ceramic coating is the clear coat which includes the liquid polymer and generally applied on the car’s body. Creating a layer of protection, the coating chemically bonds with the vehicle's factory paint. Once coated, it can only be removed by abrasion and not by any chemicals. They are being extensively used in the automobile and transportation industry owing to its anti-corrosion properties and offering resistance to heat and abrasion.
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Ceramic coating encourages increased heat resistance coupled with fewer emissions to the atmosphere. They improve the performance of metals, thus, making them fit for several applications. Moreover, these products are regularly finding applications on metal parts of the vehicles due to its suitable properties of corrosion and abrasion resistance along with it being an outstanding thermal barrier. Additionally, they are also used for providing a finished polish look on the body of cars and other vehicles slowly replacing wax.
Market Dynamics and Trends:
Rising demand for the automotive industry is the major factor driving the market growth during the forecast period. Moreover, increasing regulations regarding vehicle emissions related to the environment, the automobile manufacturers are gradually shifting to the use of ceramic coatings. Additionally, increasing demand from the healthcare, defence, energy, aerospace, and other industries is also propelling the market growth. However, high manufacturing cost is hampering the growth of market during the forecast period. North America is anticipated to hold the largest market share in the upcoming years.
Need for the high-quality materials with excellent efficiency levels have led to development of new firing and pressing technologies. However, most of the manufacturers have been trying to advance technologies for flexible, simple, and low-cost production of the product. However, according to the current trend, increased consumption of these coats in pharmaceutical, healthcare, energy, and different niche applications which include surgical instrument, personal hygiene products, and prosthetic limb & hip. Hence, the growth of market is characterized by numerous opportunities to market players, owing to rise in disposable income coupled with the rapid growth in the economy across the globe.
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Competitive Landscape:
Comprehensive competitive analysis and profiles of major market players such as APS Materials Inc., Bodycote PLC, Praxair Surface Technologies Inc., Kurt J. Lesker Co., Keronite Group Ltd, and Ultramet also provided in this ceramic coatings market report.
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