New York, United States , Nov. 17, 2022 (GLOBE NEWSWIRE) -- The Global Ceramic Coating Market Size to grow from USD 10.72 billion in 2021 to USD 21.42 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 8.0% during the forecast period. The expanding automotive industry, rising demand for distinctive coatings with exceptional properties, rising healthcare and aerospace applications, and rising preference for antiviral coatings are the main factors driving the ceramic coating market share growth over the forecast period. Demand for ceramic coating is also anticipated to rise as it supports increased heat resistance and lower atmospheric emissions. During the forecast period, these factors are anticipated to drive the ceramic coating market value.
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The COVID-19 outbreak has negatively impacted credit portfolios. The enormous growth has hampered the solvency of customers and businesses in unemployment and interruption of economic activity. Central banks have adopted a proactive strategy of injecting money into the market by decreasing interest rates and implementing asset purchase programmes. With persistent geopolitical tensions, global trade battles, and sporadic hurricanes and earthquakes, managing and monitoring credit, market, liquidity, and operational risk across financial markets was challenging enough. Chief risk officers and their teams have had to reevaluate outdated methods and assumptions used to manage and monitor risk due to the present pandemic crisis. The global repercussions of COVID-19 have demonstrated the significance of interconnection in international cooperation. As a result, many governments have been hurrying to find, assess, and buy trustworthy AI-powered solutions.
The Oxide segment to account for the largest market size during the forecast period
Based on the Product, the global Ceramic Coating Market is categorized into Oxide, Carbide, Nitride, and Others. The Oxide segment accounts for the largest market size during the forecast period. The Oxide segment is anticipated to be the leading category in the years. Compared to other coatings like carbide and nitride, oxides are less expensive. This coating is utilised on refractory bricks, chimneys, guide bars, pumps, and bearings in the steel industry. The oil and gas sectors also use a lot of oxide and carbide coats for their mud rotors, pump sleeves, MWD equipment, and valve parts. Oil and gas exploration businesses can save exploration costs and increase production through coating service components.
The Transportation & Automotive segment to hold a higher CAGR during the forecast period
Based on the Application, the Ceramic Coating Market is categorized into Transportation & Automotive, Energy, Aerospace & Defense, Industrial Goods, Healthcare and Others. The Transportation & Automotive segment is to hold a higher CAGR during the forecast period. Throughout the forecast period, the Transportation & Automotive segment is anticipated to maintain its leading position while expanding at the fastest CAGR According to the ceramic coating market forecast; the transportation and automotive sector will likely experience rapid growth in the years to come. The greater product adoption in the automotive industry is the cause of this expansion. Surfaces inside and outside of vehicles frequently have ceramic coatings applied. Additionally, a significant factor driving the ceramic coating market is the expansion of the automobile sector, notably in Asia-Pacific and Europe. Additionally, ceramic coating can be applied to engine parts to improve heat dissipation, friction reduction, and vehicle resistance.
Browse key industry insights spread across 210 pages with 141 market data tables and figures & charts from the report “Global Ceramic Coating Market Size, Share, and COVID-19 Impact Analysis By Product (Oxide, Carbide, Nitride, and Others), By Application (Transportation & Automotive, Energy, Aerospace & Defense, Industrial Goods, Healthcare and Others), By Technology (Thermal Spray, Physical Vapor Deposition, Chemical Vapor Deposition and Others), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030”, in detail along with the table of contents.
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The Thermal Spray segment to hold a higher CAGR during the forecast period.
Based on the Technology, the Ceramic Coating Market is categorized into Thermal Spray, Physical Vapor Deposition, Chemical Vapor Deposition and Others. The Thermal Spray segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Thermal Spray segment is anticipated to maintain its leading position while expanding at the fastest CAGR. According to a ceramic coating industry report, the market leader in 2021 will be the thermal spray category. Due to advantages like excellent wear and corrosion resistance and the capacity to manufacture noticeably thicker coatings at greater deposition potential than conventional surface treatments, thermal spray coating is becoming increasingly popular. Because thermal spray has a high density and can be used on any type of material, it dominates the ceramic coating industry. Ceramics is largely employed in thermal spray techniques for corrosion prevention, sliding wear, dielectric strength, and thermal barriers.
Asia-Pacific is estimated to account for the highest market share in 2021
The Global Ceramic Coating Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. The rising acceptance by the market is driving the demand for Ceramic Coating. Most ceramic coatings used in aerospace, defense, medical, and other industries are consumed in China, which dominates the Asia-Pacific market. During the projected period, increased manufacturing of engineering components in the area will likely drive regional demand. Most of the region's supply is imported from China, a top ceramic coatings producer. North America to hold a higher CAGR during the forecast period.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Ceramic Coating Market include Keronite Group Ltd, Praxair Surface Technologies, Bodycote, Ultramet, Kurt J. Lesker, APS Materials, Aremco, Integrated Global Service, Inc., Morgan Advanced Materials, Ferro Corporation, and Saint-Gobain others 20+ prominent key players we have added in the final report.
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