Ceramic Coating Market by Size, Share, Demand & Trends by 2032
The increased automotive production in these countries is likely to boost sales of ceramic coating in automobiles. The ceramic coating market size is expected to be worth US$ 10.49 billion in 2022 and US$ 21.82 billion by 2032, with a 7.6 percent CAGR from 2022 to 2032. The growing demand for ceramic coating in developing countries is expected to propel the ceramic coating market share forward.
Due to its high anti-corrosion and abrasion
resistance, ceramic coating is used extensively in the steel industry,
including on chimneys, refractory pumps, bearings, and bricks.
The ceramic coating market size is expected to grow
throughout 2032 due to properties such as corrosion resistance, wear, shock
resistance, and hardness.
The use of ceramics as transparent conductive coatings
(TCOs) in solar panels increased the demand for ceramic coating.
Installing solar PV systems in residences, commercial
buildings, and industrial facilities is likely to improve the ceramic coating
market outlook throughout the forecast period. Therefore, increased solar panel
usage is anticipated to boost sales of ceramic coating solutions.
Demand for ceramic coating is expected to rise as the
coating promotes improved heat resistance and lower atmospheric emissions.
These factors are expected to drive the ceramic coating market share during the
forecast period.
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There is a growing trend in the aerospace and defence
industries that is driving adoption and demand for ceramic coating.
Sales of ceramic coating solutions are expected to
grow as they are incorporated into the windshield glass of many planes and are
solely used in rocket exhaust cones, insulating tiles, space shuttles, and
engine components.
Key Takeaways from Market Study
- The
oxide coating segment led the ceramic coating industry by product type and
is expected to reach around USD 7 billion by 2027.
- The
carbide coating market is expected to grow significantly due to the
increasing use of ceramic coatings in the oil and gas industry. Carbide
coatings are frequently used in oil and gas exploration to save money.
- Due
to increased product adoption in the automotive industry, the
transportation and automotive segment was valued at USD 3 billion in 2020
and is expected to reach approximately USD 7 billion by 2032, with a CAGR
of 7%.
- Thermal
spray accounted for half of the ceramic coating market in 2020 and is
anticipated to increase at a CAGR of 7.5 percent between 2022 and 2032 to
reach over USD 10 billion by that time.
- Asia-Pacific
is expected to dominate the ceramic coatings market, which had a market
value of USD 813.14 million in 2018. This is likely due to the region’s
developing automotive industry. China continues to be the largest auto
market in the world.
- The
ceramic coating market in North America is anticipated to represent around
23% of the entire industry revenue by 2032. The growth of the American
aerospace sector is predicted to increase ceramic coating sales.
“The key reasons propelling the expansion
of the ceramic coating market share over the forecast period include the
increasing automotive industry, soaring demand for innovative coatings with
exceptional attributes, expanding healthcare and aerospace sectors, and rising
demand for antiviral coatings.”- Future Market
Insights Analyst.
Competitive Landscape
There are a few significant participants in the
moderately fragmented ceramic coating market. The main focus of the industry’s
major participants is on offering items that are affordable so that they can
expand their commercial potential.
Key competitors are aggressively constructing
manufacturing facilities in the industry, which is anticipated to become the
epicentre of demand. During the projection period, ceramic coating market share
is anticipated to rise thanks to reasonable environmental regulations and a
favorable business climate.
The following companies are among the major players in
the global ceramic coating market: APS Materials, Inc., Bodycote, Praxair
Surface Technologies, Kurt J. Lesker Company, and Ferro Corporation.
- XPEL,
Inc. announced product range additions for its FUSION PLUS automobile
ceramic coating in October 2020. The entire vehicle lineup now includes
one-of-a-kind accessories designed to protect glass, wheels, brake
callipers, plastic and trim surfaces, and upholstery.
- The
Ecocoat Kenzo with graphene reinforcement, IGL Coatings’ flagship product,
was set to go on sale in March 2021. Kenzo, an innovative 10H* certified,
high solids ceramic coating from IGL, was honoured with the Gold Medal
Award for Green Technology at the International Innovation Awards 2021.
- Tata
Motors debuted one of the industry’s first ceramic coating service offers
in April 2021 with the all-new Safari. This cutting-edge hydrophilic
formulation method will revitalise the look of Tata vehicles.
Key Segments
By Product Type:
- Oxide
Coating
- Carbide
Coating
- Nitride
Coating
- Others
By Technology:
- Thermal
Spray
- Physical
Vapor Deposition (PVD)
- Chemical
Vapor Deposition (CVD)
- Others
By Application:
- Transportation
& Automotive
- Energy
- Aerospace
& Defense
- Industrial
Goods
- Healthcare
- Others
By Region:
- North
America
- Latin
America
- Europe
- Asia
Pacific
- THING
Browse
Full Report: https://www.futuremarketinsights.com/reports/ceramic-coating-market
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