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Growth, Share, Demand and Analysis of Key Players 2020 | High-performance Ceramic Coatings Market
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According to the report, the global high-performance ceramic coatings market, which stood at US$5.68 bn in 2013, is expected to reach US$9.07 bn, exhibiting a CAGR of 7.0% between 2014 and 2020.High-performance ceramic coatings offer excellent thermal protection and resistance from corrosion and early depreciation, hence they are applied on turbine blades, engine components, vanes, and other vehicle equipment to provide protection against heat and corrosion. “The semiconductor industry has emerged as one of the biggest end users of ceramic coatings in recent years,” said a TMR analyst. “The rapid expansion of the semiconductor industry will subsequently augment the demand for high performance ceramic coatings”.
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Among the key end-use industries, the automotive industry has been dominating the global high performance ceramic coatings market for the last few years. Ceramic coatings are usually applied on components such as pistons, valves, combustion chambers, and exhaust tailpipes of any vehicle. In 2013, the automotive industry held over 20% of the global high-performance ceramics coatings market.
Among the various technologies in use, the thermal spray coatings segment led the market in 2013. Accounting for nearly 16% of the high-performance ceramics coatings market based on technology, chemical vapor deposition (CVD) emerged as the second largest segment in 2013. However, during the report’s forecast period, the segment is likely to exhibit the fastest growth.
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Regionally, North America led the global market for high-performance ceramic coatings, accounting for over 34% of the global market in 2013. Europe has emerged as the second largest market in the same year. Both these regions have well developed aviation and automotive industries, which result in high demand for high-performance ceramic coatings and thus, their dominance globally.
Despite exhibiting strong growth potentials, the market however is likely to suffer from the lack of skilled labor. The high cost of these products and other related technology issues are also anticipated limit the market’s growth to an extent.The report presents a 360 degree overview of the opportunities the market will witness in the near future, which it can capitalize on to mitigate the aforementioned issues.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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