New York, Sept. 21, 2020 (GLOBE NEWSWIRE) -- The Global Ceramic Coatings Market is projected to reach USD 14.09 billion in 2027. Due to the increased use of the ceramic-based nano-hydrophobic coating in premium automotive & aerospace, the demand for the market is expected to grow substantially over the next few years.
Due to its anti-corrosion properties, Ceramic Coatings are widely used in the automotive and transport industry and offer protection for abrasion and heat. Ceramic Coatings are used to add a blazing glossy look to the exterior body of cars that slowly is replacing wax for the finished, polished look.
Through growing research and development operations, Ceramic Coatings are venturing into larger segments of use. Automotive and construction are currently considered to be the main market for Ceramic Coatings. With additional product innovations, however, the Ceramic Coatings is likely to have greater application share than its counterparts, such as PTFE or regular coatings.
Acquisitions and strategic alliances are an integrated component of this market and allow firms to expand and hold their market position. As part of the latest strategic policies, end-use businesses acquire & merge with businesses that hold technologies and patents to manufacture the Ceramic Coatings to reduce the expense of the operation and hence the finished product costs.
The portion of Ceramic Coatings production in Asia-Pacific is exported mainly to Eastern Europe. Countries such as China and India manufacture ceramic epoxy coatings that align with the regional material norms. The coating solution for the Asian countries is typically imported from North America because the goods made in the Asia Pacific zone are ideal for humidity affect compliance.
The growth of the Ceramic Coatings Market is hindered by factors such as the high cost of Ceramic Coatings, capital-intensive manufacturing system, and thermal spray process durability and quality problems.
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COVID-19 Impact Analysis
The COVID-19 pandemic would undoubtedly put the sector's growth at any point in jeopardy. Significant players in the industry remain unsure about the future of the industry, and they tend to adapt their strategies to support themselves in this battle. The pandemic had a significant impact on automotive, aviation, tourism, and most multinational companies had to avoid factories and other sectors. There is a lack of staff in certain parts of the world due to regular lockdowns. COVID-19 affected international economies, exports, and imports, leading to a substantial drop in production. The growing businesses are seeking to clean out their holdings and keep the emphasis on their cash reserves. The actual net income of people would be reduced because suppliers would provide new goods at much cheaper rates that meet consumer desires.
Further key findings from the report suggest
- In view of the growing product penetration in automotive and aviation & defense use, the Ceramic Coatings market is expected to expand considerably over the forecast period.
- Oxide accounts for the largest share worldwide of the product segment, and it is expected to grow further.
- The market consisting of industrial products was mostly filled with a huge customer base in Asia Pacific, while aerospace & defense garnered considerable revenue in the North American market.
- The automotive & transport sector is expected to grow the most, as major manufacturers adopt Ceramic Coatings on engine components to combat corrosion
- In terms of value, Asia Pacific is the fastest-growing market. It accounts for the greater part of global consumption.
- In February 2018, the wholly-owned subsidiary of Praxair Surface Technologies and G.E. Aviation, P.G. Technologies, extended its supply to Singapore by increasing its coating capability to meet rising aviation sector requirements.
- Key players in the market include A&A Thermal Spray Coatings, APS Materials Inc., Aremco, Bodycote PLC, Ceramic Pro, Praxair Technology, Inc., DowDuPont, Fosbel Inc., Keronite, and Morgan Advanced Materials PLC, among others.
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For the purpose of this report, Reports and Data has segmented the Global Ceramic Coatings Market on the basis of product, technology, application, and region:
Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Oxide
- Carbide
- Nitride
- Others
Technology Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Thermal Spray
- Physical Vapor Deposition
- Chemical Vapor Deposition
- Others
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Transportation & Automotive
- Energy
- Aerospace & Defense
- Industrial Components
- Healthcare
- Others
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Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Benelux
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
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