Growing demand for solar photovoltaic systems in residences, commercial buildings, industrial plants, and the healthcare industry for easier cleaning and reprocessing due to their hydrophobic properties
Category: Chemicals & Materials Published Date : May 2022 ID: CVC-00103-C Format: PDF Pages: 345
Ceramic Coatings Market Size Analysis
According to a research analysis conducted by ChemView Consulting, in 2022, the worldwide ceramic coatings market was worth US$ 9.4 Bn, and it is expected to grow at a CAGR of 7.4% over the forecast period. The market is expected to hit US$ 16.6 Bn by 2030 end.
The market is expanding owing to the growing demand for the installation of solar photovoltaic systems in residences, commercial buildings, and industrial plants. Ceramic coatings are widely used in the healthcare industry for easier cleaning and reprocessing due to their hydrophobic properties, longer product life, higher hardness, corrosion resistance, and other benefits. As a result, the growing healthcare industry is fueling the growth of the ceramic coatings market, which is expected to fuel demand in the global Ceramic Coatings market in the coming years.
Increasing Demand for Ceramic Coatings in the Aerospace and Defense and automotive Industries to Drive Market Growth
The aviation sector is primarily concerned with the manufacture, sale, and operation of commercial aircraft. In contrast, defense is concerned with the nation’s need for military weapons and systems designed for land, sea, and air operations. Due to production-related issues with some aircraft models, the commercial aerospace industry saw fewer deliveries in 2019. 2020 will likely be a year of major milestones for the global commercial space industry as the sector invests in new and established space technologies. Although the United States primarily drives the aerospace and defense industry, a few other countries, including China, France, India, Japan, the Middle East, Africa, and the United Kingdom, have contributed to the industry’s success.
The increasing sales of automobiles are driving up demand for ceramic coatings, primarily used for surface protection and aesthetic purposes. The coating forms a chemical bond with the vehicle’s factory paint, resulting in a protective, shiny layer. There are numerous ceramic coating products on the market. The main distinction between the materials is the amount of silicon dioxide (Si0) content. Some have levels as low as 5%, while others have levels as high as 70%. In general, the higher the silicon dioxide, the longer the product will last.
Why does thermal spray hold the highest market share in the ceramic coatings market?
Thermal Spray is estimated to dominate the global ceramic coatings market in 2021 because it extends the life of machine parts during coating. It is a versatile process that can employ a wide range of materials, beginning with pure carbides and progressing to ceramics, transition metal oxides, and other composite materials. The thermal sprayed process can be used on the surface without overheating the substrate. On the other hand, the chemical vapor deposition of yttria-stabilized zirconia as a thermal barrier coating is ideal for gas turbine and aircraft engines. As a result, the thermal spray technology is widely used in ceramic coatings.
Which application type is creating the highest demand for ceramic coatings?
Aerospace and defence held the largest share of the ceramic coatings market, which is expected to grow at an 8.1% CAGR between 2022 and 2030. Ceramic coatings are used to protect the interior and exterior of vessels. It is also commonly used in aircraft to provide UV protection and corrosion resistance. As a result, rising aircraft production is a major factor influencing demand for ceramic coatings.
According to the Federal Aviation Administration (FAA), the number of jet aircraft in the United States is expected to increase by 28% by 2038, while the cargo jet aircraft fleet is expected to increase by 37% by 2038. The aerospace and defence industry in the United States contributed more than USD 374 billion to the nation’s GDP in 2018, accounting for 1.8 percent of total GDP, according to the Aerospace Industries Association (AIA). As a result, the expansion of all such activities is expected to increase demand for ceramic coatings.
Why does Asia-Pacific account for the largest market share in the ceramic coatings market?
The Asia-Pacific region controlled the majority of the global market with more than 40% share in 2021. China is still the world’s largest vehicle market. The automotive industry in India is growing by double digits and is expected to fuel the market. The Asia-Pacific region is also on track to surpass Europe as the largest contributor to global solar photovoltaic installed capacity. The expanding solar photovoltaic industry in Asia-Pacific is helping to drive market growth.
The growing automotive and aerospace industries in Europe and North America are expected to fuel the demand. Vehicle sales increased globally throughout 2018, owing to positive economic growth in the United States, improved indicators in Europe, and the continued expansion of China’s economy. These factors are stimulating the global automotive industry, which is driving the market.
To remain competitive in the industry, key market players are investing in expanding their market footprint. Several vital players invest a fair share of their revenue in research and development to boost their product portfolio. Market participants focus on technological development and utilizing a product in several applications.
Some of the key developments that have taken place in the ceramic coatings market include:
A list of some of the key suppliers present in the market are:
Market Segments Covered in Report
By Coating Method:
By Region and Country:
Global Ceramic Coatings Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||Type, Coating Method, End-Use Industry, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
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