Press release
Diamond Coatings Market is Anticipated to Rise at a CAGR of 6.7% through 2033
Diamond Coatings Market
Diamond coatings are created by depositing uniform layers of diamond onto various materials such as plastic, metals, glass, composites, and ceramics. This is typically achieved using methane diluted with hydrogen. Advanced technologies like physical vapor deposition (PVD) and chemical vapor deposition (CVD), often assisted by lasers, are employed to complete the coating process.
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Diamond coatings are applied to enhance the hardness, corrosion resistance, and wear resistance of various materials. The evaluation of surface morphology and diamond film content is conducted using a variety of experimental techniques. The increasing use of diamond coatings in diverse industries such as medical, electronics, automotive, and others is expected to boost their demand.
The cost-effectiveness of diamond coatings compared to industrial diamonds is a key factor driving market opportunities. Diamond coatings and industrial diamonds exhibit comparable chemical and physical characteristics, offering similar levels of durability and other physical properties.
Unlike cutting and grinding tools that use diamond grains and experience diamond granule breakage, tools coated with diamond coatings have uniformly dispersed particles and do not face issues related to diamond chipping. As a result, diamond-coated tools have a longer lifespan than conventional grain-based tools.
Key Takeaways from Market Study
Worldwide demand for diamond coatings is currently valued at US$ 2.1 billion.
The chemical vapor deposition segment held a market share of 35.3% in 2022.
The global diamond coatings market is forecasted to reach a value of US$ 4 billion by the end of 2033.
Sales of diamond coatings are expected to advance at a CAGR of 6.7% through 2033.
Asia Pacific accounted for 42.5% share of the global market in 2022.
Demand for diamond coatings is projected to increase at a CAGR of 6% in Canada.
Sales of diamond coatings are estimated to expand at a CAGR of 4.3% in Germany.
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Competitive Landscape
Diamond coating suppliers are enhancing their supply chain management systems to ensure high-quality products and maintain stringent standards. To drive market growth, they are implementing key strategies such as agreements, new product development, and acquisitions.
Notable Developments:
April 2022: UES (United Engineering Services LLC), a multinational tech business in Oman, signed an MoU with AZD Technologies LLC to establish its first manufacturing line of nano-diamond coatings in Muscat.
January 2021: Oerlikon Balzers launched its new Baldia line of diamond coatings, designed for drilling and machining highly abrasive materials.
January 2020: Oerlikon acquired D-coat, a provider of diamond coating technology, to expand its product portfolio in surface treatment technologies, especially for cutting tools in the automotive and aerospace industries.
Key Companies Profiled
Advanced Diamond Technologies, Inc.
SP3 Diamond Technologies
Oerlikon Balzers Coating AG
Neocoat SA
JCS Technologies Pte Ltd.
Element Six SA
Diamond Product Solutions
Crystallume
Winning Strategy
Key providers of diamond coatings are entering into collaborations with other companies, educational institutions, and others to develop new advanced manufacturing technologies.
For instance:
The University of Munich (TUM), in Feb 2022, entered into a collaboration with Oerlikon, which is an engineering and technology company operating in Switzerland. The motive of this collaboration is to make advancements in additive manufacturing technologies. To tackle technological obstacles in industrialization, the TUM-Oerlikon Advanced Manufacturing Institute was established.
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Diamond Coatings Industry Segmentation
By Technology:
Chemical Vapor Deposition (CVD)
Physical Vapor Deposition (PVD)
By Substrate:
Metal
Ceramics
Composites
Others
By End Use:
Electronics
Mechanical
Industrial
Medical
Automotive
Others
By Region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global diamond coatings market for the period of 2023 to 2033.
The study divulges essential insights into the market based on technology (chemical vapor deposition, physical vapor deposition), type (metal, ceramic, composite, others), and end use (automotive, mechanical, industrial, medical, electronics, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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