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Hard Coatings Market Size, Share, Development And Growth Till 2023
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The hard coatings process is mainly performed in two ways: physical vapor deposition (PVD) and chemical vapor deposition (CVD). Physical vapor deposition is a vaporisation coating technique where the base material is used to form a thin coating layer on an object by evaporating and condensing the material used. Hard coatings comprise ceramics or metals such as oxides, nitrides and carbides. The technology used in the physical vapor deposition are electron beam, sputter deposition, evaporative deposition, physical vapor deposition, pulsed laser deposition and cathodic arc deposition.
The global hard coatings market is expected to witness a significant growth during the forecast period (2017-2023). The growing demand from the automotive and healthcare sectors is the key driver for the global market. Borides are expected to be the largest material type segment in the global market during the forecast period. Based on application, the manufacturing segment is expected to be the fastest-growing segment during the forecast period. Based on deposition technique, physical vapor deposition (PVD) is expected to be the fastest growing segment in the global hard coatings market during the forecast period.
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The key restraints hampering the growth of the global hard coatings market are high total cost of ownership and high capital investment market. Additionally, developments of cost effective substitutes are expected to pose challenges for the growth of the global market.
The major companies operating in the global market include IHI Ionbond AG, CemeCon AG Germany, Momentive Performance Materials Inc., Sulzer Ltd., IHI Hauzer Techno Coating B.V, Duralar Technologies, MBI Coatings, Platit AG, Exxene Corporation and ASB Industries, Inc.
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