The report "Diamond Coatings Market by Technology (CVD, PVD), Substrate (Metal, Ceramic, Composite), End-Use Industry (Electronics, Mechanical, Industrial, Medical, Automotive), and Region (Europe, North America, APAC, MEA, South America) - Global Forecast to 2022", The diamond coatings market is projected to grow from USD 1.76 Billion in 2017 to USD 2.56 Billion by 2022, at a CAGR of 7.8% between 2017 and 2022. The increasing demand for diamond coated medical devices and equipment, and enhanced life of cutting tools and equipment are driving the diamond coatings market. Diamond coatings are used in various end-use industries such as electronic, mechanical, industrial, medical, and others. These end-use industries have spurred the growth of the diamond coatings market. In the field of medical technology, new methods are constantly being researched to ensure better prevention, diagnosis, and treatment of diseases. Due to its superior tribological and mechanical properties, along with corrosion resistance, biocompatibility, and hemocompatibility, the diamond coating has emerged as a promising technology for biomedical applications.
APAC is expected to be the fastest-growing diamond coatings market during the forecast period. Due to the availability of cheap labor, and economical and accessible raw materials, there are significant foreign investments, which are also driving the market growth in the region. In addition, strengthening the economy of countries such as China, Indonesia, Taiwan, and India is attracting investments in the region. These factors are driving the APAC diamond coatings market.
Key companies operating in the market include Oerlikon (Switzerland), D-Coat GmbH (Germany), NeoCoat SA (Switzerland), Crystallume (US), Element Six (London), sp3 Diamond Technologies (US), Advanced Diamond Technologies, Inc. (US), Blue Wave Semiconductors (US), Diamond Product Solutions (Netherlands), and JCS Technologies (Singapore).
