HighPerformance Ceramic Coatings Market: Introduction
TransparencyMarket Research delivers key insights on the global high performanceceramic coatings market. In terms of revenue, the global highperformance ceramic coatings market is estimated to expand at a CAGR of ~7%during the forecast period, owing to numerous factors, regarding which TMRoffers thorough insights and forecasts in its report on the global highperformance ceramic coatings market.
The globalhigh performance ceramic coatings market has been positively impacted by therise in demand for these coatings in automobile and aviation industries acrossthe globe. Thus, increase in demand for high performance ceramic coatings inautomobile and aviation industries is propelling the global high performanceceramic coatings market.
High Performance Ceramic CoatingsMarket: Dynamics
The demandfor high performance ceramic coatings has been rising in automobile, aviation,and chemicals industries since the past few years, as these coatings provideprotection to different engine parts, reduce friction, and help increase wearresistance. This is expected to boost the global high performance ceramiccoatings market.
Investmentsin the global aerospace industry have been rising significantly since the pastfew years. For instance, in 2018, the aviation industry contributed US$ 151 Bnin export sales to the U.S. economy. The aviation industry in India is likelyto achieve investment of US$ 4.99 Bn by2023. Growth in production and export of military aircraft and components fromcountries such as the U.S., the U.K., France, China, and Russia are expected toboost the demand for thermal spray coatings. This trend is likely to fuel thedemand for high performance ceramic coatings.
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High Performance Ceramic CoatingsMarket: Prominent Regions
In terms ofvalue, North America is a lucrative region of the global high performanceceramic coatings market. The region accounted for a major share of the globalhigh performance ceramic coatings market in 2019. It is projected to be ahighly lucrative market during the forecast period, due to rapid increase ininvestment in automotive and aviation industries in the region. In 2018,automakers such as FCA, Ford, GM, Hyundai, Nissan, Toyota, and Volkswageninvested more than US$ 4 Bn incapacity expansion and R&D. This trend is expected to continue due to thehigh demand for passenger cars. The U.S. dominated the high performance ceramiccoatings market in North America in 2019. It is anticipated to continue itsdominance during the forecast period. This can be ascribed to the growth ofautomotive and aerospace industries in the country.
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AsiaPacific held a key share of the global high performance ceramic coatings marketin 2019. Asia Pacific is an attractive region of the global high performanceceramic coatings market due to rapid industrialization and urbanization.Industrialization has led to significant rise in FDI in countries such asChina, India, Japan, and South Korea. Furthermore, new vehicle sales in AsiaPacific stood at 35.96 million in 2019; of this, 21.44 millionwere sold in China. Thus, China is a major hub for automotive products, whereinhigh performance ceramic coated products are used. This is estimated to drivethe high performance ceramic coatings market in the country during the forecastperiod.
Europe isanother key region of the global high performance ceramic coatings market.Europe is the leading region in terms of the aerospace & defense industry.In 2018, the industry’s turnover stood at US$ 293 Bn.Furthermore, Europe was the leading exporter of aerospace and defense equipmentin 2018. The revenue generated from exports stood at US$ 175 Bnin 2018. The expansion of the aerospace industry in Europe is projected toboost the high performance ceramic coatings market in the region in the nearfuture.
High Performance Ceramic CoatingsMarket: Key Players
Key playersoperating in the global high performance ceramic coatings market are Aremco Products, Inc, CeramicPolymer GmbH, Saint Gobain SA, Bodycote Plc, Praxair Surface Technologies,Inc., A&A Company, Inc, and Zircotec.
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