Portland, OR, Aug. 30, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global High Performance ceramic coatings market accounted for $7.84 billion in 2018 and is expected to reach $12.63 billion by 2026, growing at a CAGR of 6.2% from 2019 to 2026.
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Increased in demand for automobile, rise in usage in medical devices, and increasing aerospace application have boosted the growth of the global High-Performance ceramic coatings market. However, high cost of ceramic coating hinders the market growth. On the other hand, technological advancements in plasma spray coating are expected to create remunerative opportunities in the near future.
The global High-Performance ceramic coatings market is divided into product type, technology, end user industry, and geography. Based on product type, the market is segmented into oxide coating, carbide coating, and nitride coating. The oxide coating segment held the largest share in 2018, accounting for more than two-fifths of the market. However, the nitride coating segment is estimated to register the fastest CAGR of 6.5% during the forecast period.
On the basis of technology, the market is bifurcated into thermal spray, physical vapor deposition, chemical vapor deposition, and other technologies. The chemical vapor deposition segment is anticipated to manifest the fastest CAGR of 6.5% during the forecast period. However, the thermal spray segment dominated the largest share in 2018, contributing more than one-third of the market.
The global High Performance ceramic coatings market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific region dominated the market in 2018, contributing nearly half of the market, due to increased industrialization and rise in awareness regarding the benefits of the High Performance ceramic coating market. However, the market across North America is expected to register the fastest CAGR of 6.5% during the forecast period.
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The market report includes an in-depth analysis of the major market players such as Akzo Saint-Gobain, Aremco Products, Inc., Ceramic Polymer GmbH, Praxair Surface Technologies, Inc., DowDuPont, Cetek Ceramic Technologies Ltd., APS Materials Inc., Kurt J. Lesker Company Ltd., and A&A Coatings.
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