Ceramic Coatings Market To Reach USD 14.09 Billion By 2027 | Reports and Data – GlobeNewswire

Ceramic Coatings Market To Reach USD 14.09 Billion By 2027 | Reports and Data – GlobeNewswire

New York, Sept. 21, 2020 (GLOBE NEWSWIRE) — The Global Ceramic Coatings Market is projected to reach USD 14.09 billion in 2027. Due to the increased use of the ceramic-based nano-hydrophobic coating in premium automotive & aerospace, the demand for the market is expected to grow substantially over the next few years.

Due to its anti-corrosion properties, Ceramic Coatings are widely used in the automotive and transport industry and offer protection for abrasion and heat. Ceramic Coatings are used to add a blazing glossy look to the exterior body of cars that slowly is replacing wax for the finished, polished look.

Through growing research and development operations, Ceramic Coatings are venturing into larger segments of use. Automotive and construction are currently considered to be the main market for Ceramic Coatings. With additional product innovations, however, the Ceramic Coatings is likely to have greater application share than its counterparts, such as PTFE or regular coatings.

Acquisitions and strategic alliances are an integrated component of this market and allow firms to expand and hold their market position. As part of the latest strategic policies, end-use businesses acquire & merge with businesses that hold technologies and patents to manufacture the Ceramic Coatings to reduce the expense of the operation and hence the finished product costs.

The portion of Ceramic Coatings production in Asia-Pacific is exported mainly to Eastern Europe. Countries such as China and India manufacture ceramic epoxy coatings that align with the regional material norms. The coating solution for the Asian countries is typically imported from North America because the goods made in the Asia Pacific zone are ideal for humidity affect compliance.

The growth of the Ceramic Coatings Market is hindered by factors such as the high cost of Ceramic Coatings, capital-intensive manufacturing system, and thermal spray process durability and quality problems.

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COVID-19 Impact Analysis

The COVID-19 pandemic would undoubtedly put the sector’s growth at any point in jeopardy. Significant players in the industry remain unsure about the future of the industry, and they tend to adapt their strategies to support themselves in this battle. The pandemic had a significant impact on automotive, aviation, tourism, and most multinational companies had to avoid factories and other sectors. There is a lack of staff in certain parts of the world due to regular lockdowns. COVID-19 affected international economies, exports, and imports, leading to a substantial drop in production. The growing businesses are seeking to clean out their holdings and keep the emphasis on their cash reserves. The actual net income of people would be reduced because suppliers would provide new goods at much cheaper rates that meet consumer desires.

Further key findings from the report suggest

  • In view of the growing product penetration in automotive and aviation & defense use, the Ceramic Coatings market is expected to expand considerably over the forecast period.
  • Oxide accounts for the largest share worldwide of the product segment, and it is expected to grow further.
  • The market consisting of industrial products was mostly filled with a huge customer base in Asia Pacific, while aerospace & defense garnered considerable revenue in the North American market.
  • The automotive & transport sector is expected to grow the most, as major manufacturers adopt Ceramic Coatings on engine components to combat corrosion
  • In terms of value, Asia Pacific is the fastest-growing market. It accounts for the greater part of global consumption.
  • In February 2018, the wholly-owned subsidiary of Praxair Surface Technologies and G.E. Aviation, P.G. Technologies, extended its supply to Singapore by increasing its coating capability to meet rising aviation sector requirements.
  • Key players in the market include A&A Thermal Spray Coatings, APS Materials Inc., Aremco, Bodycote PLC, Ceramic Pro, Praxair Technology, Inc., DowDuPont, Fosbel Inc., Keronite, and Morgan Advanced Materials PLC, among others.

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For the purpose of this report, Reports and Data has segmented the Global Ceramic Coatings Market on the basis of product, technology, application, and region:

Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

  • Oxide
  • Carbide
  • Nitride
  • Others

Technology Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

  • Thermal Spray
  • Physical Vapor Deposition
  • Chemical Vapor Deposition
  • Others

Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

  • Transportation & Automotive
  • Energy
  • Aerospace & Defense
  • Industrial Components
  • Healthcare
  • Others

To identify the key trends in the industry, click on the link below:   https://www.reportsanddata.com/report-detail/ceramic-coatings-market

Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

  • North America
  • U.S.
  • Canada
  • Europe
  • U.K.
  • Germany
  • France
  • Benelux
  • Asia Pacific
  • China
  • Japan
  • South Korea
  • Rest of APAC
  • Latin America
  • Brazil
  • Rest of LATAM
  • Middle East & Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Take a Look at our Related Reports:

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Coating Equipment market: Coating Equipment market is forecasted to grow at a rate of 6.2% from USD 16.10 billion in 2019 to USD 25.25 billion in 2027. Rising demand for the product from different industries, including automotive, aerospace, and construction is projected to provide a definite room for significant growth in the coming years.

High Performance Coatings Market: High Performance Coatings Market is forecasted to grow at a rate of 4.9% from USD 89.40 billion in 2019 to USD 131.17 Billion in 2027. The growth of the market is mainly associated with the rising demand for industrialization in emerging economies and the rising need to protect products, which are expected to accelerate the market growth globally.

Pigment Dispersion market: Pigment Dispersion market is forecasted to grow at a rate of 5.7% from USD 39.60 billion in 2019 to USD 59.89 billion in 2027. The dispersion of pigments is a process used to transfer color to different substrates in the automotive, manufacturing, and packaging industries.

Powder Coating Equipment market: Powder Coating Equipment market is forecasted to grow at a rate of 7.4% from USD 1.40 billion in 2019 to USD 2.40 billion in 2027. Powder coating equipment is expected to see considerable demand as it offers excellent storage performance, improves flexibility, ease of use, and provides high quality.

Thermal Insulation Coating market: Thermal Insulation Coating market is forecasted to grow at a rate of 6.8% from USD 8.03 billion in 2019 to USD 13.12 billion in 2027. Recent trends in the industrial and automobile industries are expected to fuel demand in specific market segments for heat barrier coats.

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