Global Ceramic Coating Market Research Report—Forecast till 2027
Global Ceramic Coating Market is anticipated to exhibit healthy growth at a 5.0% CAGR to surpass over USD 12.5 Billion by 2027. Ceramic coating is a chemical polymer, which is applied to protect exterior surfaces of vehicles to protect external paint loss due to chemical stains, harmful UV rays, and air pollution. Ceramic coating is obtained from two substrates namely silica and titanium dioxide intended to apply a nano-ceramic shield above the surface. However, concerns about the availability of low-cost substitutes are anticipated to restrain the global market growth during the forecast period.
Global Ceramic Coating Market is expected to register substantial growth during the review period. The growth of the global ceramic coating market is primarily driven by the rising demand from the growing automotive industry. Additionally, stringent environmental regulations to reduce carbon footprint coupled with the rapid adoption of electric vehicles are likely to drive the demand for ceramic coatings in the coming years. Furthermore, the high product demand from the aerospace & defense industry is also surging the global ceramic coating market. However, the disadvantages associated with ceramic coatings such as contamination and protection from swirl marks or scratches are expected to restrain the growth of the global market during the review period.
Global Ceramic Coating Market is divided based on Material Type, Technology, and End-Use Industry. Based on Material, the global ceramic coating market has been classified into oxide, silica, alumina-magnesia, carbide, nitride, and others.
Depending on technology type, the global market has been categorized into thermal spray, chemical vapor deposition, physical vapor deposition, and others. In terms of end-use industry, the global market has been classified into automotive, oil & gas, aerospace & defense, chemical, textile, energy & power, healthcare, and others.
The region-specific analysis of the Global Ceramic Coating Market is spread across Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Asia-Pacific was valued for the largest share of around 45% in the ceramic coating market in2019 owing to the fastest-industrial growth and the improving economic conditions of costumers in this region. Europe was the second-largest market accounting for a share of approximately 20% due to the existence of large-scale automotive manufacturers and rising R&D investments from regional manufacturers to prosper advanced ceramic coatings technology.
North America evaluated for nearly 20% of the market share and is evaluated to exhibit a CAGR of about 4% owing to the growth of the automotive industry. The ceramic coating market in Latin America and the Middle East & Africa is expected to witness significant growth over the forecast period because of the increasing automobile industry in Latin America, especially Mexico, and supportive government initiatives to enhance the aerospace & defense sector.
Morgan Advanced Materials (UK), APS Materials, Inc. (the US), Bodycote (UK), Praxair S.T. Technology, Inc. (the UK), Aremco Products, Inc. (US), Akzo Nobel N.V. (The Netherlands), Saint-Gobain (France), MBI Coatings (US), Nano-Care Deutschland AG (Germany), Ceramic Polymer GmbH (Germany), and Oerlikon Group (Switzerland).
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