Ceramic Coating Market Size, By Product Type (Oxide Coating, Carbide Coating, Nitride Coating), By Technology (Thermal Spray, Physical Vapor Deposition (PVD), Chemical Vapor Deposition (CVD)), By Application (Transportation & Automotive, Energy, Aerospace & Defense, Industrial Goods, Healthcare), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027
The ceramic coating market is primed to witness notable growth by 2027 driven by prevalent product adoption across varied industry verticals. Moreover, mounting demand for antiviral coatings during COVID-19 is speculated to further support market growth through the forecast period.
Ceramic coatings are widely used in diverse sectors as they offer numerous advantageous features. For instance, in the automotive industry, ceramic coating, which is a solution based on chemical polymers, is blended with the paint, wherein it creates an aquaphobic layer that protects the vehicle’s surface against external damage. The chemical bonding of the coating prevents the vehicle’s exterior from damage caused by dirt, grime, stains, and other elements, which has played a key role in boosting industry expansion in recent years.
The ceramic coating market has been segmented on the basis of product type, technology, application, and region. Based on product type, the market has further been categorized into carbide coating, oxide coating, nitride coating, and others.
The nitride coating product type segment is projected to expand at a CAGR of about 6.6% over the assessment timeframe. Titanium-nitride (TiN) ceramic coatings are typically used to enhance the lifetime of mechanical parts in lubrication environments and under extreme abrasive conditions, which is likely to support segmental growth through the following years. In 2020, the others product type segment held around 15.06% share in the ceramic coating market and is slated to reach a sizable valuation by the end of 2027.
From the technology point of view, the market has been segregated into physical vapor deposition (PVD), thermal spray, chemical vapor deposition (CVD), and others. The others technology segment is estimated to grow at more than 6.5% CAGR over the analysis period. Other technologies include micro-oxidation, sol-gel, and so on.
With respect to application, the market has been divided into energy, transportation & automotive, aerospace & defense, healthcare, industrial goods, and others. The energy application segment is anticipated to see substantial growth at a CAGR of above 6.8% through the review timeline. In the energy sector, ceramic coating finds extensive applications in areas of energy-efficient plants and machinery that are exposed to high mechanical, chemical, and thermal stresses, which is foreseen to positively impact segmental outlook in the future.
The ceramic coating market from the others application segment is poised to register a CAGR of nearly 6.2% over the study timeframe. Other applications of ceramic coating include textile and construction, among others. Ceramic coating is used as a textile-finishing agent owing to its several beneficial properties, such as its anti-bacterial, anti-abrasion, and flame-retardant characteristics, which is slated to drive segmental demand in the forthcoming years.
On the regional spectrum, the Latin America ceramic coating market accounted for over 4.8% of the overall industry revenue in 2020 and is estimated to progress at approximately 6.3% CAGR through the assessment timespan. Meanwhile, the Middle East & Africa ceramic coating industry is expected to showcase significant growth through 2027 propelled by growing application of ceramic coatings in cars in the MEA region.
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