NEWARK, Del, July 02, 2024 (GLOBE NEWSWIRE) -- The global ceramic coating market reached USD 8,395.7 million in 2019, with demand witnessing a CAGR of 5.2% from 2019 to 2023, reaching USD 10,795.2 million in 2023.
Projections for the period between 2024 and 2034 indicate a 7.5% CAGR for ceramic coating sales, resulting in a market size of USD 23,845.1 million by 2034. The ceramic coating industry attains a revenue of USD 11,518.5 million in 2024
Ceramic coatings are essential as thermal barrier coatings due to the growing requirement for effective thermal management in sectors including power generation, aerospace, and automotive. They offer insulation and safeguard against high temperatures, resulting in improved energy performance and efficiency. This factor strengthens the market growth.
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Despite their potential for brittleness, ceramic coatings still offer significant benefits. Their good heat and chemical resistance make them a valuable choice. It is crucial to consider their limitations, particularly their susceptibility to chipping or cracking under mechanical stress or impact, which impedes the adoption of ceramic coatings in industries that demand great mechanical durability.
During the projection period, there is a good chance the installation of solar photovoltaic systems in homes, businesses, and industrial facilities is anticipated to boost the ceramic coating market outlook. As a result, rising solar panel use is projected to increase the sales of ceramic coating solutions.
Ceramic Coating, also known as Nano-Coating
It is a new necessity for manufacturers. The process involves applying a surface layer that repels dry particles, water, oil & dirt. Found in both solid and liquid form, ceramic coating can make surface bacteria-resistant and scratch resistant while improving hardness. Its use on different automobiles, clothes, and other industrial equipment has put it in a place where it needs to be applied everywhere for material protection. Let’s understand how different coating works for different end users:
Regional Outlook
In 2024, the region with a rapid pace of growth is going to be North America. North America provides a little more than half of the world's necessities. Ceramic coatings are widely employed in this region because of the well-established automobile and aerospace sectors. The automotive and healthcare goods industries are the primary catalysts for future ceramic coating market expansion.
As of 2024, the Asia Pacific holds the maximum share in the global ceramic coating industry, with over 40% of consumption. Rather than being the result of lower operational expenses, low prices are typically connected with subpar products. One may draw comparisons between the massive demand in the region and the consumption of developing nations such as China, India, and Japan. It is envisioned that increased engineering component manufacture stimulates the ceramic coating demand.
“Rising demand from an array of sectors is likely to propel the ceramic coating market expansion. The market is set to evolve as a result of factors such as technological advances, a growth in automobile sales, and a stronger emphasis on protection and resilience.”- says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Key Takeaways
- The oxide coating segment in the product type category is expected to garner a share of 47.2% in 2024.
- In the application category, the transportation and automotive segment is projected to procure a share of 38.4% in 2024.
- Sales revenue of ceramic coating in India indicates a CAGR of 11.2% from 2024 to 2034.
- China’s ceramic coating industry exhibits an upsurge with a CAGR of 8.5% between 2024 and 2034.
- Spain’s ceramic coating sector is set to register a CAGR of 5.7% through 2034.
- France’s ceramic coating market is likely to exhibit a CAGR of 5.3% from 2024 to 2034.
- Adoption revenue of ceramic coating in Italy is likely to imply augmentation at a CAGR of 4.9% between 2024 and 2034.
- Through 2034, Canada’s ceramic coating market is expected to show escalation at a CAGR of 4.6%.
- Between 2024 and 2034, the United States ceramic coating sector is expected to imply growth at a CAGR of 4.2%.
- Germany’s ceramic coating sales indicate a CAGR of 3.5% through 2034.
- From 2024 to 2034, South Korea’s ceramic coating ecosystem is projected to register a surge at a CAGR of 3.4%.
- Japan’s ceramic coating market is likely to imply expansion at a CAGR of 3.2% through 2034.
- The United Kingdom ceramic coating ecosystem reflects expansion between 2024 and 2034 at a CAGR of 2.9%.
- Australia’s ceramic coating sector is expected to exhibit a CAGR of 2.9% through 2034.
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Competitive Landscape
There are a few significant ceramic coating vendors in the somewhat fragmented market. The main goal of major ceramic coating manufacturers is to increase their company capacities by offering affordable products. In response to the growing demand for their products, some ceramic coating producers are expanding their footprint in developing nations.
Top Key Players
- Bodycote
- Praxair Surface Technologies, Inc.
- Aremco Products, Inc.
- APS Materials, Inc.
- Cetek Cermaic Technologies Ltd.
- Keronite Group Ltd.
- Saint-Gobain S.A.
- Element 119
- NanoShine Ltd.
- Ultramet, Inc.
Latest Developments
- Nanogate announced the acquisition of Surpass Coatings in February 2023. One of the top suppliers of ceramic coatings to the automotive and aerospace sectors is Surpass Coatings.
- Thermal Spray Technologies announced the release of T-COAT 910, a new thermal spray coating, in January 2023. A high-performance coating with outstanding wear resistance and corrosion protection is called T-COAT 910.
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Key Segmentations
By Product Type:
- Oxide coating,
- Carbide coating,
- Nitride coating
By Technology:
- Thermal spray,
- Physical vapor deposition (PVD),
- Chemical vapor deposition (CVD)
By Application:
- Transportation and automotive,
- Energy,
- Aerospace and defense,
- Industrial goods,
- Healthcare
By Region:
- North America,
- Latin America,
- East Asia,
- South Asia and Pacific,
- Western Europe,
- Eastern Europe,
- Middle East and Africa.
Authored By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Have a Look at Related Research Reports of Chemicals & Materials
The advanced ceramics market size is projected to be valued at USD 40,142.0 million in 2023 and is expected to rise to USD 63,542.7 million by 2033.
The global porous ceramics market is anticipated to generate revenues of USD 4,084.5 million in 2023. Demand for porous ceramics is anticipated to increase at a CAGR of 6.7% and reach USD 7,812.3 million by 2033.
The industrial ceramics market is anticipated to record a CAGR of 6.1% during the forecast period, up from USD 118.9 Billion in 2022 to reach a valuation of USD 218.1 Billion by 2032.
The global high temperature ceramics market was estimated to be worth USD 4.67 billion in 2022. From 2022 to 2032, it is expected to grow at a CAGR of 7.1%, reaching USD 9.27 billion.
The industry size of advanced aerospace coating in Europe market is estimated to stand at USD 519.66 million in 2024. The industry is projected to exceed a valuation of USD 846.47 million by 2034, registering a moderate CAGR of 4.5%.
The coating additives market is anticipated to flourish at a healthy CAGR of 4.8% between 2023 and 2033. The market is expected to hold a market share of USD 17.77 billion by 2033, while the market is likely to reach a value of USD 11.12 billion in 2023.
The wood coatings market is anticipated to garner a modest strength with a CAGR of 5.9% from 2022 to 2032.
The global Water Proof Coatings Market is set to thrive at a CAGR of 4.02% between 2022 and 2032 while holding a value of USD 15.81 Billion in 2022.
The BRIC performance coatings market is expected to generate USD 95.9 billion in revenue in 2022. The market is anticipated to grow at a CAGR of 5.3% to reach USD 160.7 billion by 2032.
The coatings and application technologies for robotics market is set for significant expansion, with an anticipated valuation of USD 18,141.9 million by 2023.
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