High Performance Ceramic Coatings Market to surpass USD 12.63 billion by 2026
High Performance Ceramic Coatings Market was exceeded USD 7.84 billion in 2018 and is anticipated to reach USD 12.63 billion by 2026, registering a CAGR of 6.2% from 2019 to 2026, According to the report by Allied Market Research.
High Performance Ceramic Coatings Market across North America is estimated to register the fastest CAGR of 6.5% during the study period, owing to the presence of the largest automobile, aerospace, and defense manufacturers. However, the market across Asia-Pacific region held the largest share in 2018, accounting for nearly half of the market, owing to rapid industrialization across the region and ability of high-performance ceramic coatings to prevent rust and oxidation of engine components, which has boosted its demand in various industries. The report includes analysis across other regions such as Europe and LAMEA.
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Rise in demand for automobiles, increasing aerospace application, and surge in usage in medical devices are the major factors that drive the growth of the global high-performance ceramic coatings market. However, high cost of ceramic coating hampers the market growth. On the contrary, rapid advancements in plasma spray coating are expected to create lucrative opportunities in the near future.
The oxide coating segment dominated the market in 2018, contributing to more than two-fifths of the market, owing to its increased use in automotive industry and rise in disposable income as well as the standard of living of consumers. However, the nitride coating segment is anticipated to register the fastest CAGR of 6.5% through 2019–2026. The report also includes analysis of the carbide coating segment.
The thermal spray segment held the largest share in 2018, accounting for more than one-third of the market, as it provides electrical insulation, lubricity, high or low friction, sacrificial wear, chemical resistance and extends the life of new components. However, the chemical vapor deposition segment is projected to portray the fastest CAGR of 6.5% from 2019 to 2025, as it is used in the semiconductor industry to produce high quality, high-performance, solid materials.
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The market report provides an in-depth analysis of the key market players such as Aremco Products, Inc., Akzo Saint-Gobain, Praxair Surface Technologies, Inc., Ceramic Polymer GmbH, Cetek Ceramic Technologies Ltd., DowDuPont, Bodycote Plc, APS Materials Inc., Kurt J. Lesker Company Ltd., and A&A Coatings.
Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.