The report: “Ceramic Coatings Market– Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Ceramic Coatings Industry.
Ceramic Coatings Market size is forecast to reach $12.5 billion by 2026, after growing at a CAGR of 7.5% during 2021-2026 due to increasing consumption of ceramic coatings from various end-use industries such as automotive, aerospace & defense, healthcare, oil & gas, industrial goods, and others. Some ceramics are transition metal oxides semiconductors, which are used in aircraft due to low density. Ceramic coatings provide fuel efficiency for vehicles and reduce friction, thus; increasing vehicle production is expected to grow the demand for ceramic coating. In March 2020, Toyota Motor Corporation and Hino Motors, Ltd., announced plans to jointly develop a heavy-duty fuel cell truck. Heavy-duty trucks are typically used for highway transportation; therefore, they are required to have sufficient cruising range and load capacity as well as fast refueling capability. Apart from this, coatings are applied by techniques such as chemical vapor deposition, thermal spray, and others to enhance the lifespan of the body parts of the machine. Thus, this element is expected to fuel demand for ceramic coatings.
Impact of COVID-19
During the COVID pandemic 2020, major sectors saw a steady decline in growth owing to the decrease in transportation during the lockdown. However, the automotive production also had been closed from the first quarter of 2020, due to which new vehicles could not be manufactured. According to the International Organization of Motor Vehicle Manufacturers (OICA), global automotive production fell by 16% in 2020. Hence, due to the lack of automotive production, vehicle sales were also declined. According to the Malaysia Automotive Association (MAA), automotive sales declined by more than 17% in Q2 2020 and 2.7% in Q3 2020. Thus, this factor is hampering the demand for ceramic coatings.
Report Coverage
The report: “Ceramic Coatings Market– Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Ceramic Coatings Industry.
By Material Type: Oxide, Nitride, Carbide, and Others.
By Technology: Thermal Spray (Plasma Spray, Combustion Flame Spray), Chemical Vapor Disposition (CVD), Physical Vapor Disposition (PVD), and Others.
By Application: Automotive Sector (Passenger Cars, Ligh Weight Commercial Vehicles, Heavy Duty Commercial Vehicles), Aerospace & Defense (Commercial Aircraft, Military Aircraft, Space Vehicles, Others), Healthcare Sector, Energy, Oil & Gas, Industrial Goods (Steel, Plastic, Others), and Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia & New Zealand, Indonesia, Taiwan, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW (Middle East and Africa).
Key Takeaways
North America dominates the ceramic coatings market owing to increasing consumption for high efficiency and the growing automotive sector in emerging countries such as United States, Mexico, and Canada.
Increasing applications of ceramic coatings across various engine compartments such as intake manifolds, pistons, and cylinder heads are anticipated to create lucrative growth opportunities for the market during the forecast period.
Chemical vapor deposition coating technique can withstand exposure to low & high temperature and extreme temperature variation on internal surfaces.
Due to excellent properties such as anti-corrosion, heat resistance, and weathering efficiency ceramic coatings are used in aerospace & defense, automotive, healthcare, and other industries.
Figure: North America Ceramic Coatings Market Revenue, 2021-2026 (US$ Billion)
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Ceramic Coatings Market Segment Analysis – By Material Type
Oxide material type segment dominated the global ceramic coatings market in 2020. Oxides are used to improve corrosion resistance and oxidation at a high melting point (2000°C). Oxide materials can be directly sprayed without the need for a protective atmospheric environment. Furthermore, transition metal oxide such as titanium is used in fighter aircraft due to its high strength. On the other hand, carbide coating material helps to reduce exploration cost, thus it is widely used in oil & gas exploration. Hence, oxide material is highly used in ceramic coatings.
Ceramic Coatings Market Segment Analysis – By Technology
Thermal Spray dominated the global ceramic coatings market in 2020 as this technique enhance the life span of machine parts during coatings. It is a versatile process that can use a large range of materials starting from pure carbides, ceramics, transition metal oxides, and other composite materials. Thermal sprayed process can be applied on the surface without significantly heating the substrate. On the other hand, the chemical vapor deposition of yttria-stabilized zirconia as a thermal barrier coating is ideal for gas turbine and aircraft engines. Hence, the thermal spray technique is highly used for ceramic coatings.
Ceramic Coatings Market Segment Analysis – By End-Use Industry
Aerospace & defense held the largest share of the ceramic coatings market and growing at a CAGR of 8.2% during 2021-2026. Ceramic coatings are used in vessel for interior and exterior protection. Also, it is widely used in aircraft for UV protection and corrosion resistance. Thus, surging aircraft production is the key factor influencing the demand for ceramic coatings. According to Federal Aviation Authority (FAA), in the United States, the number of jet aircraft is expected to grow 28% by 2038 and the cargo jet aircraft fleet is 37% by 2038. According to the Aerospace Industries Association (AIA), the U.S. aerospace and defense industry contributed more than USD 374 billion to the nation's GDP in 2018, representing 1.8% of the U.S. GDP. Therefore, the growth in all such activities is expected to boost the demand for ceramic coatings.
Ceramic Coatings Market Segment Analysis – By Geography
North America dominated the ceramic coatings market with more than 31% in 2020 due to the increasing automotive and aircraft industry in countries such as the United States and Canada. Ceramic coatings are used as yttria-stabilized zirconia as a thermal barrier for the engine compartment and help to improve horsepower capacity. Hence, an increasing number of vehicles in developing countries is estimated to increase the demand for ceramic coatings. According to the International Organization of Motor Vehicle Manufacturers (OICA), total car production was 1.9 million and commercial vehicle production was 6.8 million in 2020 in the United States. According to the Internation Trade Center, in Canada exportation of aircraft and spacecraft parts increased by 3.5 million in 2019 as compared to 3.2 million in 2018. Hence, the increasing automotive and aircraft industry is driving the demand for ceramic coatings in the North American region.
Ceramic Coatings Market Drivers
Increasing Automotive Production is estimated to grow the Demand for Ceramic Coatings
Growing automotive production is leading to the growing demand for ceramic coatings as it improves fuel efficiency, lightweight, long-lasting than paints, and also can withstand high temperatures. Thus, increasing vehicle demand is surging the demand for ceramic coatings. According to the Australian Bureau of Statistics, the Australian market sold 1.2 million new passenger cars, SUVs, and commercial vehicles in 2017, an increase of 0.9 % from 2016. According to the International Organization of Motor Vehicle Manufacturers (IOMVM), the production of light commercial vehicles has increased in the APAC region by 10.2 % in 2018. Light commercial vehicle production has increased from 2,249,348 in 2018 to 2,254,153 in 2019, an increase of 0.2% in Europe. The increasing automotive industry is expected to increase the requirement for ceramic coatings, which will act as a driver for market growth.
Growing Consumption of Ceramic Coatings in the Healthcare Sector
Ceramic coatings are being considered for major applications in orthopedic implants, dental implants, and medical instruments. Ceramic coatings can improve the stability of medical implants, improve their bond to the surrounding tissue, and control the therapeutic substances. Thus, the increasing healthcare sector is expected to boost the demand for coatings during the era. According to the India Brand Equity Foundation (IBEF), the healthcare market is expected to increase by Rs. 8.6 trillion (US$ 133.44 billion) by 2022, which, in turn, is expected to drive the demand for the ceramic coatings industry.
Ceramic Coatings Market Challenges
High Cost of Ceramic Coating
The ceramic coating does not remove water from the surface and creates spots. Ceramic coating materials are difficult to process because they must be exact to create an effective barrier. Thus, it needs to be applied professionally. Professional-grade ceramic coatings can range in price from $100 to $500 per bottle for a single treatment on a single vehicle. That's just the cost of the coating; a professional detailer must also account for all of the other materials and instruments required to prepare the vehicle for the coating application. This, along with the growing demand for ceramic coatings, leads to high prices. This factor is limiting the market growth.
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the photosensitive market. Major players in the Ceramic Coatings Market include:
Du Pont De Nemours & Company
Praxair Surface Technologies, Inc.
Bodycote PLC
Nasiol Nano Coatings
Aremco Products, Inc.
Keronite Group
E.I. Morgan Technical Ceramics
APS Materials, Inc.
Cetek Ceramic Technologies Ltd.
Ultramet, and among others.
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