The global ceramic coating market reached USD 8,395.7 million in 2019, with demand witnessing a CAGR of 5.2% from 2019 to 2023, reaching USD 10,795.2 million in 2023.
Projections for the period between 2024 and 2034 indicate a 7.5% CAGR for ceramic coating sales, resulting in a market size of USD 23,845.1 million by 2034. The ceramic coating industry attains a revenue of USD 11,518.5 million in 2024
Ceramic coatings are essential as thermal barrier coatings due to the growing requirement for effective thermal management in sectors including power generation, aerospace, and automotive. They offer insulation and safeguard against high temperatures, resulting in improved energy performance and efficiency. This factor strengthens the market growth.
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Despite their potential for brittleness, ceramic coatings still offer significant benefits. Their good heat and chemical resistance make them a valuable choice. It is crucial to consider their limitations, particularly their susceptibility to chipping or cracking under mechanical stress or impact, which impedes the adoption of ceramic coatings in industries that demand great mechanical durability.
Regional Outlook
In 2024, the region with a rapid pace of growth is going to be North America. North America provides a little more than half of the world's necessities. Ceramic coatings are widely employed in this region because of the well-established automobile and aerospace sectors. The automotive and healthcare goods industries are the primary catalysts for future ceramic coating market expansion.
As of 2024, the Asia Pacific holds the maximum share in the global ceramic coating industry, with over 40% of consumption. Rather than being the result of lower operational expenses, low prices are typically connected with subpar products. One may draw comparisons between the massive demand in the region and the consumption of developing nations such as China, India, and Japan. It is envisioned that increased engineering component manufacture stimulates the ceramic coating demand.
“Rising demand from an array of sectors is likely to propel the ceramic coating market expansion. The market is set to evolve as a result of factors such as technological advances, a growth in automobile sales, and a stronger emphasis on protection and resilience.” comments an FMI analyst.
Key Takeaways
· The oxide coating segment in the product type category is expected to garner a share of 47.2% in 2024.
· In the application category, the transportation and automotive segment is projected to procure a share of 38.4% in 2024.
· Sales revenue of ceramic coating in India indicates a CAGR of 11.2% from 2024 to 2034.
· China’s ceramic coating industry exhibits an upsurge with a CAGR of 8.5% between 2024 and 2034.
· Spain’s ceramic coating sector is set to register a CAGR of 5.7% through 2034.
· France’s ceramic coating market is likely to exhibit a CAGR of 5.3% from 2024 to 2034.
· Adoption revenue of ceramic coating in Italy is likely to imply augmentation at a CAGR of 4.9% between 2024 and 2034.
· Through 2034, Canada’s ceramic coating market is expected to show escalation at a CAGR of 4.6%.
· Between 2024 and 2034, the United States ceramic coating sector is expected to imply growth at a CAGR of 4.2%.
· Germany’s ceramic coating sales indicate a CAGR of 3.5% through 2034.
· From 2024 to 2034, South Korea’s ceramic coating ecosystem is projected to register a surge at a CAGR of 3.4%.
· Japan’s ceramic coating market is likely to imply expansion at a CAGR of 3.2% through 2034.
· The United Kingdom ceramic coating ecosystem reflects expansion between 2024 and 2034 at a CAGR of 2.9%.
· Australia’s ceramic coating sector is expected to exhibit a CAGR of 2.9% through 2034.
Competitive Landscape
There are a few significant ceramic coating vendors in the somewhat fragmented market. The main goal of major ceramic coating manufacturers is to increase their company capacities by offering affordable products. In response to the growing demand for their products, some ceramic coating producers are expanding their footprint in developing nations.
Latest Developments
· Nanogate announced the acquisition of Surpass Coatings in February 2023. One of the top suppliers of ceramic coatings to the automotive and aerospace sectors is Surpass Coatings.
· Thermal Spray Technologies announced the release of T-COAT 910, a new thermal spray coating, in January 2023. A high-performance coating with outstanding wear resistance and corrosion protection is called T-COAT 910.
Ceramic Coating Market Key Players
· Bodycote
· Praxair Surface Technologies, Inc.
· Aremco Products, Inc.
· APS Materials, Inc.
· Cetek Cermaic Technologies Ltd.
· Keronite Group Ltd.
· Saint-Gobain S.A.
· Element 119
· NanoShine Ltd.
· Ultramet, Inc.