Selbyville, Delaware, Dec. 14, 2021 (GLOBE NEWSWIRE) -- As per the report by Global Market Insights Inc., the Ceramic Coating Market was estimated at USD 8.30 billion in 2020 and is speculated to exceed a valuation of USD 13.54 billion by 2027, registering with a CAGR of 7.3% from 2021 to 2027. The research report provides a detailed analysis of drivers & opportunities, market size & estimations, top winning strategies, wavering market trends, competitive scenario, and major investment pockets.
Ceramic coatings are known to withstand temperatures of more than 1,200°F (650°C) with especially designed composite ceramics that can survive temperatures as high as 1,600°F (870°C). Mounting demand for high-temperature and corrosion resistant coatings are expected to drive product demand. Emerging applications of ceramic coatings in the healthcare and aerospace industries on account of their superior corrosion and adhesion resistance are set to create massive growth potential in the ceramic coating market over the forecast period.
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Carbide coating offers wear resistance against erosion, galling, abrasion, and fretting, which has boosted product adoption in varied applications. In 2020, the carbide coating type segment was valued at above USD 1.6 billion and is expected to grow at approximately 7% CAGR to reach a valuation of over USD 2.6 billion by 2027.
From the technological perspective, the thermal spray segment is anticipated to expand at around 7.5% CAGR through the assessment timeframe to exceed a valuation of USD 8 billion by 2027. Growing utilization of thermal sprays in ceramic coatings as they provide several benefits, such as advanced protection against corrosion and increased wear resistance, is likely to support segmental development.
Key reasons for ceramic coating market growth:
- Increasing product usage in aviation industry.
- High product uptake in automotive applications.
- Growing product utilization in healthcare industry.
- Rising prominence as antiviral coating during COVID-19.
2027 forecasts show ‘aerospace & defense’ segment retaining its dominance:
In terms of application, the aerospace & defense segment is projected to garner about 17% revenue share in the global ceramic coating market by 2027. The proliferating aviation sector has bolstered product adoption, primarily in emerging nations, including China, Japan, and Europe. In addition, booming vehicle production in developing markets like India, China, and Brazil is slated to stimulate the ceramic coating market revenue.
North America to maintain top status in terms of revenue:
On the regional spectrum, the North America ceramic coating market is estimated to attain nearly 23% share in the overall industry revenue by 2027. The growing aerospace sector in the U.S. is foreseen to impel product demand. Additionally, increasing demand for ceramic coatings to protect car exteriors from UV radiation is expected to further facilitate regional market growth in the future.
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Impact of COVID-19 pandemic on ceramic coating market:
Following the COVID-19 outbreak, government and healthcare agencies sought effective coating solutions to prevent the spread of the novel coronavirus in places with high volumes of people viz., hospitals, nursing homes, and public transport. To that effect, in May 2020, a research network from Canada’s Concordia University, dubbed the Green-SEAM (Surface Engineering for Advanced Manufacturing) Network, set out to promote antiviral metallic and ceramic coatings as a solution for slowing down the transmission of the virus in such spaces. As a result, increasing research focus on using ceramic coatings as antiviral coatings to protect people, particularly frontline workers, against COVID-19 has augmented industry expansion during the pandemic.
Leading market players:
Major manufacturers in the global ceramic coating industry include Cetek Ceramic Technologies Ltd., E.I. Du Pont De Nemours & Company, Keronite Group, APS Materials, Inc., Kurt J. Lesker Co., Saint-Gobain S. A., Praxair Surface Technologies, Inc., Aremco Products, Inc., Nasiol Nano Coatings, Bodycote PLC, Ultramet, and Morgan Technical Ceramics, among others.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
