Market Highlights
Global Ceramic Coating Market is estimated to be valued at USD 12.5 Billion by 2027 and register a CAGR of 5.0% during the forecast period.
The Global Ceramic Coating Market is projected to witness a surging growth in the coming assessment period owing to the widespread use of ceramic coatings in diverse end-use industries, such as automotive, aerospace & defense, chemicals, and healthcare. The growth is mainly attributed to the growth of the automotive industry, especially in emerging economies, such as China, India, and Mexico, due to an increase in production of automotive, rising adoption of electric vehicles, booming population, and growth in per capita spending of individuals. Moreover, the adoption of ceramic coatings market share in healthcare and energy & power industries is expected to drive the growth of the global market. In the healthcare industry, ceramic coatings are widely used in surgical instruments, prosthetic limbs & hips, dental reconstruction, vascular stents, and personal hygiene products. In the energy & power industry, it is widely used for energy conservation, i.e., for the fabrication of solar panels in the form of transparent conductive coatings. Moreover, the growing demand for ceramic coatings in the aerospace & defense industry has further fueled the growth of the global market. However, factors such as the presence of substitutes such as Teflon, sealant, and paint protection films are likely to hamper the growth of the market. Nevertheless, the increasing demand for ceramic coatings in niche applications, such as cookware, bakeware, and construction, is likely to create lucrative opportunities for the growth of the market during the forecast period.
Segmental Analysis
According to MRFR analysis, the Global Ceramic Coating Market has been segmented based on Material Type, Technology, End-Use Industry, and Region.
Based on material type, the global ceramic coating market has been segmented into oxide, silica, alumina-magnesia, carbide, nitride, and others. The oxide segment accounts for the largest share of over 25% in the global market in 2019. The segment is expected to witness the fastest growth with a CAGR around 6% in the study period owing to its exceptional properties such as low thermal conductivity, good wear and corrosion resistance, and cost efficiency compared to other ceramic coatings.
Based on technology, the global market has been segmented into thermal spray, chemical vapor deposition, physical vapor deposition, and others. Among this, the thermal spray segment holds the maximum share in the global market. The high market share is mainly due to its outstanding compatibility with any material and is widely used technology to deploy ceramic coatings on diverse end-use applications. Furthermore, it is expected to witness an increase of around 5% during the study period, 2020 to 2027, and reach a valuation of over USD 8.3 billion by 2027.
Based on the end-use industry, the global market has segmented into automotive, oil & gas, aerospace & defense, chemical, textile, energy & power, healthcare, and others. The automotive segment accounted for the largest market share. This is mainly attributed to the increased adoption of ceramic coatings in interior and exterior surfaces. Furthermore, they are also widely used in coating battery separators and engine components in electric vehicles. It is expected to witness a healthy CAGR of around 5.0% between 2020 and 2027.
Regional Analysis
Geographically, the Global Ceramic Coating Market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As per MRFR analysis, Asia-Pacific dominated the global market, accounting for the largest share of around 45% in 2019 and is expected to register a CAGR of over 7% during the forecast period. Asia-Pacific is followed by Europe, which accounted for the second-largest share of the ceramic coating market in 2019. The European market is expected to exhibit a share of around 20% in 2019. North America is expected to witness moderate growth, registering a CAGR of 4% over the forecast period. Latin America and the Middle East & Africa are also likely to witness significant growth with a CAGR over 5% during the study period, 2020–2027.
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Key Players
Market Research Future (MRFR) has identified the following companies as the Key Players in the Global Ceramic Coating Market: Morgan Advanced Materials (UK), APS Materials, Inc. (US), Bodycote (UK), Praxair S.T. Technology, Inc. (UK), Aremco Products, Inc. (US), Akzo Nobel N.V. (The Netherlands), Saint-Gobain (France), MBI Coatings (US), Nano-Care Deutschland AG (Germany), Ceramic Polymer GmbH (Germany), and Oerlikon Group (Switzerland).
Key Findings of the Study
The Global Ceramic Coating Market is estimated to be valued at USD 9 Billion by 2019. It is expected to register a CAGR of over 5% to reach around USD 12.5 Billion by the end of 2027.
- Based on material type, the oxide segment held the largest share of 25% by value in 2019 and is expected to register a CAGR of around 6% during the forecast period.
- By technology, the physical vapor deposition segment is estimated to witness the fastest growth in the global market, exhibiting a CAGR of around 6% from 2020 to 2027.
- Based on the end-use industry, the automotive segment held the largest share of around 25% by value in 2019 and is expected to register a CAGR of around 5% during the forecast period.
- Asia-Pacific accounted for the largest market share of around 45% in terms of value in 2019.
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