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Global Ceramic Coatings Market Research Report 2021, Industry Growth Trends, Competitive Analysis And Forecast 2041 | Lexis Business Insights

The global ceramic coating market size was valued at USD 9.75 billion in 2021 and is likely to expand at a compound annual growth rate (CAGR) of 7.8% from 2022 to 2030. The ceramic coating promotes increased heat resistance coupled with fewer emissions to the atmosphere. These factors are likely to augment the market growth during the forecast period. Moreover, these products are gradually finding applications on metal parts in vehicles owing to their suitable properties of abrasion and corrosion resistance along with it being an excellent thermal barrier. Furthermore, the aerospace & defense industry is exhibiting a trend of increasing consumption of oxide and carbide coatings. These coats are used exclusively in rocket exhaust cones, insulating tiles, space shuttles, and engine components, and are embedded into the windshield glass of many airplanes.
The COVID-19 pandemic impacted various industries. There were substantial disruptions in their respective supply-chain operations and manufacturing due to precautionary lockdowns and other constraints imposed by governing authorities around the world. The global ceramic coatings market witnessed a slow down in its year-on-year growth rate due to the reduced demand from key industries such as automotive, aerospace, and others and unexpected shutdowns of manufacturing plants, and temporary halts in production units.

However, in line with the current trend, there is an increased consumption of these coats in energy, healthcare, pharmaceutical, and different niche applications. These niche applications also include surgical instruments, prosthetic limbs & hips, and personal hygiene products.

At present, the majority of the product demand is derived from heavy industries, such as steel, cement, and power manufacturing plants, but is also observing increased demand from the automotive industry. These coats are also gradually replacing wax in automotive polishes. In April 2021, with the all-new Safari, Tata Motors unveiled one of the industry's first ceramic coating services. This is a cutting-edge hydrophilic formulation technology for renewing the appearance of Tata vehicles.

Rising demand for these coats in the defense, aerospace, energy, healthcare, and other industries is expected to push participants in the value chain to offer turnkey services along with providing engineering solutions. The cost depends on the type of product, i.e. oxide, carbide, or nitride, and the surface of application. The process is very much energy-intensive and, thus, the overheads form a major part of the overall cost.
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Found: 30.11.2022

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