Industry Insight:
Global Ceramic Coating Market 2020 is setting up for preparing to heave its asset in funds as it seeks to beat a hike target in the face of the monetary slowdown caused by the Coronavirus plague. The figures are gathered by Market Research Future that focuses on the study over the Ceramic Coating Market and comes out to be gaining a towering valuation by the end of 2027. The expansion period is calculated to be between 2019 and 2024, and during this, the market would expand at 5.0% CAGR, and revenue collection will be near about USD 12.5 Billion.
Top Players:
APS Materials, Inc. (US), Morgan Advanced Materials (UK), Akzo Nobel N.V. (The Netherlands), Aremco Products, Inc. (US), MBI Coatings (US), Saint-Gobain (France), Ceramic Polymer GmbH (Germany), and Oerlikon Group (Switzerland) are some top players in the Global Ceramic Coatings Market.
News: Bodycote, the UK-based coatings specialist, announced about its entrance into a definitive agreement to take over the US-based surface coating technologist Ellison Surface Technologies. Ellison is known for a reputed provider of thermal sprays and coatings to the US aerospace industry, and its acquisition would enable Bodycote to unify its expertise with Ellison’s innovations, providing a gateway into the North American market.
Ceramic Coating Boosters & Drivers:
Ceramic Coating Market size is liable to observe momentous gains owing to its strapping application outlook in transportation, energy, aerospace & defense, and healthcare industries. It has ample application scope in the steel sector, which includes pumps, refractory bricks, chimneys, and bearings on account of its abrasion and anti-corrosion properties.
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The Aerospace & Defense Industry is revealing a trend of growing consumption of oxide and carbide coatings. These coats are used exclusively in insulating tiles, rocket exhaust cones, engine components, for space shuttles, and are rooted into the windshield glass of many airplanes. Though, in line with the current trend, there is an augmented consumption of these coats in healthcare, energy, pharmaceutical, and various niche applications. These niche applications also include prosthetic limb & hip, surgical instruments, and personal hygiene products. These factors have led to the market expanding at a high rate even after the sudden fall of COVID 19 pandemic worldwide.
At the same time, growing demand for ceramic coats in the aerospace, defense, healthcare, energy, and other industries is probable to push participants in the value chain to offer turnkey services along with providing engineering solutions. The cost of pricing depends on the type of product, i.e., carbide or nitride, oxide, and the surface of the application. The process is much energy-intensive, and thus the overheads form a foremost part of the overall cost. These factors have also made the market grossing unparalleled in the forecast period.
Furthermore, the market observe a discrete regional supply-demand trend. The North American is the core of advanced ceramic coats and is probable to continue being the foremost supplier of coating services & products. The Asia Pacific region in the estimated period might account for the highest demand share as few manufacturers are situated in this geographic.
Segment Review:
Global Ceramic Coating Market has included segments such as Material Type, Technology and End-Use Industry.
Concerning the Material Type Segment, the market has included silica, oxide, carbide, nitride, alumina-magnesia, and others. The oxide segment grabs the leading market share of over 25%. It is probable to evidence a CAGR of over 5.5%, owing to sky-scraping demand for the product in almost all the foremost end-use industries such as energy & power, automotive, chemicals, and pharmaceuticals.
Concerning the Technology Segment, the global market has included chemical vapor deposition, thermal spray, physical vapor deposition, and others. The thermal spray segment grabbed the prevalent market share of over 65%. It is probable to witness a notable growth of around 5% to reach over USD 8 billion by 2027, among other technologies.
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Concerning the end-use industry segment, the global market has included oil & gas, automotive, chemical, aerospace & defense, energy & power, textile, healthcare, and others. The automotive application grabbed the leading share of over 25% in the global market. The growth in this segment is accredited to the augmented demand for ceramic coatings in the interior and exterior surface of the automotive.
Regional Framework:
Global Ceramic Coating Market has stuidied into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Back in the year 2019, Asia-Pacific grabbed the leading share of around 45% in the ceramic coating market owing to the rapid industrial growth and the improving economic conditions of consumers in this region. Furthermore, the amplified demand for ceramic coatings from the automotive, oil & gas, aerospace, and energy & power industries in the leading economies of India, China, and Japan is also probable to boost the growth of the regional market. Asia-Pacific was treasured at around USD 6 billion and is probable to inventory the utmost CAGR of over 6.5% in the study period.
Europe was the second-largest market, grabbing a share of around 20% owing to the existence of large-scale automotive manufacturers and augmented R&D investments from regional manufacturers to develop advanced ceramic coatings technology. The regional market recorded moderate growth, with a CAGR of approximately 3% from 2019 to 2027, and is expected to revenue generation of USD 2 billion by the end of 2027.
North America grabs nearly 20% of the market share and is probable to record a CAGR of about 4%. The expansion of the regional market is mainly accredited to the expansion of the automotive industry. The North American market was cherished at USD 1.8 billion in 2019; it is expected to reach around USD 2.3 billion by the end of the forecast period.
COVID-19 Study in Detail:
COVID-19 Impact on Polyvinyl Alcohol Market @ https://www.marketresearchfuture.com/report/covid-19-impact-polyvinyl-alcohol-market
COVID-19 Outbreak Impact on Renewable Chemicals Market @ https://www.marketresearchfuture.com/report/covid-19-impact-renewable-chemicals-market
NOTE: Our team of researchers is studying COVID-19 and its impact on various industry verticals and wherever required we will be considering COVID-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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