HIGH-PERFORMANCE CERAMIC COATINGS MARKET ANALYSIS (2020-2027)
High-performance ceramic coatings are ceramic coatings that have a thin layer of ceramic which provide improved resistance to wear, corrosion, high-temperature over other conventional ceramic coatings. They are a type of advanced coatings due to enhance mechanical and physical properties.The global high-performance ceramic coatings market is estimated to account for US$ 8, 463.2 Mn in terms of value and 1,483.9 Kilo Tons in terms of volume by the end of 2019.
Drivers:
Growing demand for the excellent thermal barrier in the aircraft engines is driving the market growth of the high-performance ceramic coatings. Aircraft engines are highly exposed to harsh temperature levels as well as the corrosive environment. High-performance ceramic coatings enhance the reliability and durability of aircraft engines. These coatings are applied to jet turbine blades in order to protect them from elevated temperature gases releasing from the combustion chamber and improve the engine efficiency.Technological advancement in plasma sprayed coatings is expected to fuel the market growth of the high-performance ceramic coatings. These coatings are widely used in coatings in the advanced metals and oil & gas as high-performance ceramic coatings offer high resistance from corrosion and extremely high temperatures. Also, the growing demand for durable finished products is again anticipated to bolster the market growth.
Europe region dominated the global high-performance ceramic coating market in 2019, accounting for 34.3% share in terms of value.
Market Restraints
The high cost of the high-performance ceramic coatings is inhibiting the adoption of these coatings. Thus, the high cost is hindering the production of the high-performance ceramic coatings thereby hindering the market growth.Lack of skilled labor for applying high-performance ceramic coatings is restricting the market growth. Also, technological issues associated with these coatings is further hampering market growth.
Market Opportunities
Increasing use of high-performance ceramic coatings in the semiconductor industry for fabrication of wafer equipment is providing potential market opportunities. High demand for plasma spray thermal coatings from semiconductor and LCD manufacturing industries is projected to propel the market growth. These coatings enhance the performance, safety, and durability, thereby fueling the market growth of the high-performance ceramic coatings.Increasing development of the nanoceramics is projected to bring profitable market opportunities in the near future. Nanoceramics are environmentally friendly surface treatment solutions and thus gaining huge demand. Moreover, it is one of the key technological advancements in the ceramic coatings industry. Furthermore, these coatings also improve insulating and corrosion resistance properties and are anticipated to sustain elevated temperatures of around 25000C.
Market Trends/Key Takeaways
Continuous product innovation by manufacturers is a growing trend in the market. For instance, in October 2018, BAF Industries, producer of the PRO® Product Line for the professional car care industry, launched the Synergy Ceramic Coatings. The Synergy is a semi-permanent, superhydrophobic nano-ceramic coating specifically designed for painted finishes. This high tech coating creates an extremely hard, slick, clear barrier of protection on painted finishes.Chemical industry and machinery industries are an attractive market for high-performance ceramic coatings. Rise in vehicle production across the Latin America region coupled with the increasing investment in the chemical industries across the MENA region is again expected to propel the market growth. Rapid growth in the various machinery and manufacturing industries is again expected to propel the market growth of high-performance ceramic coatings over the forecast period.
On the basis of end-user in 2019, the automotive segment has accounted the largest market share of 28.2% in terms of value, followed by aviation and chemical equipment segment, respectively.
Global High-Performance Ceramic Coating Market - Impact of Coronavirus (Covid-19) Pandemic
Coronavirus (COVID-19) pandemic has impacted almost all the industries globally including automotive industry. The sales of automobiles is expected to decrease by 14-22% in countries such as U.S., Europe and China during the year 2020. Hence, decrease in the demand for automotive industry globally will hamper the high-performance ceramic coatings market till the year 2021.
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