Hard Coatings Market - Segmented by Material Type, Technique, Application, End-user Industry and Geography – Growth, Trends, and Forecast (2018-2023)
The hard coatings market is expected grow at a significant rate during the forecast period, majorly driven by the growing automotive & healthcare sector. Hard coatings are a coating technique by anodization of sulfuric acid with the electrolyte concentration, temperature and electric current parameters altered to produce the hardened surface. Hard coatings are resistant to corrosion, hardness and wear, electrical and temperature resistant. Hard coatings have low friction coefficient after lubrication.
Growing Automotive & Healthcare Sectors Driving the Hard Coatings Market
China, India, Philippines, and Vietnam are turning out to be potential markets for demand and supply of automobiles, with many automotive manufacturers placing their manufacturing and assembly plants in these countries. This can be attributed to the availability of labor at low costs, raw material prices, and rising urban population in the region. Major car manufacturers, such as Chevrolet, Daimler, Jeep, Audi, Volvo, and Kia have either set up their automotive manufacturing facilities or are planning to start new facilities in Asia-Pacific in the near future. This factor along with increasing global healthcare spending supports the usage of hard coatings in the automotive & healthcare sectors industries to a major extent.
PVD Dominating the Market Growth
Physical vapor deposition is a vaporization coating technique where the base material is used to form a thin coating layer on an object by evaporating and condensing the material used. The technology used in the physical vapor deposition are electron beam, sputter deposition, evaporative deposition, physical vapor deposition, pulsed laser deposition and cathode arc deposition. Owing to its hardness and wear resistance, reduced friction and improved oxidation resistance, the PVD technique is in demand in various end-use industries such as aerospace, automotive, cutting tools and others.
Asia-Pacific Dominating the Growth of Hard Coatings Market
China is the largest consumer of hard coatings market in Asia-pacific, in 2017. The growing awareness among the benefits of using hard coatings and the rising demand for hard coatings for decorative coatings and cuttings tools are anticipated to encourage the growth of the region throughout the forecast period.
Hard Coatings Market Major Players:
OC Oerlikon Corporation AG,
IHI Ionbond AG,
IHI Hauzer Techno Coating B.V,
Reasons to Purchase Hard Coatings Market Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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