Press release
Ceramic Coating Market Growth &Forecasts on Regional Growth, 2017 – 2024
Ceramic coating is an inorganic material which is processed and used in a high temperature. This type of product is normally based on silica, titania, silicon carbide, alumina, alumina-magnesia, hafnia and silicon nitride compositions. Additionally, it provides excellent heat resistance, anti-corrosion and weathering efficiency which may promulgate ceramic coating market size.
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Thermal spray ceramic coating market size may witness steady gains over the foreseeable period. It is widely used technology due to its high density and can be used in every material compositions. Global thermal spray coatings market size is poised to exceed USD 11.5 billion by 2024, with gains at over 6.5%. Rising demand for instrument life from health care and dental industries owing to increase in wear resistant property, may enhance product life and reduce maintenance requirement. Ceramics applied on thermal spray are mainly used for sliding wear, dielectric strength, thermal barriers and corrosion protection. It involves heating a material in wire or powder form to semi-molten to molten form.
Physical vapor deposition (PVD) technology may show a significant market share due to its cheaper cost and thermal efficiency. It is preferably used in automotive and aerospace industries owing to it less resistance capability in high temperature & surface pressure and low spraying velocity, which may further stimulate ceramic coating market growth. Global physical vapor deposition market size may surpass USD 35 billion in sales by 2024, with gains at over 8%. Technological advancement has led to rise in microelectronics demand, thereby driving the industry growth.
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Carbide coats are expensive as compared to other counterparts due to it high processing and raw material cost may affect ceramic coating market price trend. It is extensively used in sports sector and in various applications including golf clubs, horse hooves and bicycles. Increasing carbide coats demand in oil & gas exploration in order to increase production cost and reduce exploration cost may drive ceramic coating market size.
Ceramic coating market size from automotive & transportation applications may witness significant gains over the forecast timeframe. It protects vehicles interior and exterior from damage and extend cars life. Ceramic coating layer protects vehicle’s paint from UV rays, thereby reducing oxidization. China has a strong automobile production base and is likely to remain the leading manufacturer in the near future. In 2016, China’s automobile industry was over 24 million units passenger vehicles sales and over 3.5 million units commercial vehicle sales.
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Asia Pacific led by Japan, India, South Korea and China ceramic coating market size, may witness surge in demand over the forecast timeframe. Increasing application outlook in aerospace and automotive industries should drive regional growth. Rapid industrialization accompanied with development of public infrastructure and better road connectivity has improved commercial road transport facilities in India, Indonesia, Thailand and China. Favorable government initiatives and investments in commercial road facilities along with shift in focus of vehicle manufacturers on enhancing the appearance of the vehicle to maintain competitive edge in market should ceramic coating demand in the region.
North America, led by Canada and the U.S. ceramic coating market size may witness an uptrend owing to increasing application scope in automobile, and aerospace & defence industries.
Global ceramic coating market share is highly competitive and moderately consolidated. Major players operating in the industry include APS Materials, Praxair Surface Technologies, Bodycote PLC, and Keronite Group. Companies are focusing on R&D spending towards eco-friendly technology to expand business and create avenues in the ceramic coating industry.
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