The global ceramic coating market is expected to reach USD 13.1 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 7.2% over the forecast period, owing to Increasing utilization in automobile engine components and the aerospace & defense industry is projected to propel the market growth over the next eight years.
Ceramic coatings are being extensively used in the automobile and transportation industry owing to its anti-corrosion properties and offering resistance to abrasion and heat. Ceramic coatings are also used for providing a finished polish look on the exterior body of cars slowly replacing wax.
With growing research and development activities, ceramic coatings are venturing into wider application segments. Currently, automobile and transportation are expected to be the largest application for ceramic coatings. However, with further product innovations, the ceramic coating is likely to have larger application share than its counterparts such as PTFE or regular coatings.
Acquisition and joint ventures are an integral part of this market and allow companies to expand their market position and hold. Recent strategic initiatives signify that the end-use companies are acquiring/merging with companies possessing technology and patents for producing the ceramic coating to reduce the process cost and thus the final product prices.
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Further key findings from the report suggest:
The global ceramic coating market demand is expected to exceed 46.3 million tons by 2025, growing at an estimated CAGR of 5.1% from 2017 to 2025
In the product segment, oxide accounts for the largest share globally. The U.S. oxide segment was estimated to be around USD 1.37 billion in 2016
Asia-Pacific was the largest consumer in 2016 in terms of volume. It accounted for more than 40% of the global consumption in 2016
China is anticipated to be the largest consumer in Asia Pacific owing to presence of large number of industries coupled with tightening environment norms
The industrial components segment was the largest consumer in Asia Pacific in 2016 while aerospace & defense generated the substantial revenue in the U.S.
The automobile & transportation sector is projected to have the highest growth as major manufacturers are adopting ceramic coatings on engine components to combat corrosion
Grand View Research has segmented the global ceramic coating market on the basis of product, technology, application, and region:
Ceramic Coating Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Ceramic Coating Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Physical Vapor Deposition
Chemical Vapor Deposition
Ceramic Coating Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Transportation & Automotive
Aerospace & Defense
Ceramic Coating Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
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