Global Ceramic Coatings Market 2022-2028

Global Ceramic Coatings Market 2022-2028

Global ceramic coatings market size was $8.5 billion in 2021 and is anticipated to grow at a considerable CAGR of 6.9% during the forecast period. The factors that drive the global ceramic coatings include the unique properties that it possesses such as high refractoriness and hardness, low density, low coefficient of thermal expansion (CTE), and higher working temperatures among others. Ceramic coatings are also highly used in a variety of healthcare applications and as an alternative to various metals and plastics. Moreover, the market is also driven by the strong demand for advanced materials from the electrical and electronics sector. The electrical and electronic industry strongly depends on the characteristics of high-performance electrical composite materials. Unlike parts made from plastic that can carbonize or melt during exposure to electrical arcing or monitoring, ceramic coatings suffer minimal impact from these common conditions of electrical equipment. The unique properties of ceramic coatings make the materials perfectly suitable for the severities of use in the electrical industry.

Impact of COVID-19 Pandemic on Global Ceramic Coatings Market

The COVID-19 pandemic has had a positive as well as negative impact on the global ceramic coatings market. In the electrical & electronics industry, the manufacturing and fabrication facilities of the electronics components and elements had been paused due to the unavailability of raw materials, logistics slowdown, and reduced workforce. China is the largest producer and exporter of electronics components which goes into the fabrication of finished electronic goods. However, medical devices such as ventilators, thermal scanners, patient care systems, and related equipment were growing significantly during the pandemic.

Segmental Outlook

The global ceramic coatings market is segmented based on technology, coating type, and end-user industry. Based on the technology, the market is segmented into (chemical vapor deposition, physical vapor deposition, electrophoretic deposition, and thermal spray. Based on the coating type, the market is sub-segmented into oxide coating, carbide coating, nitride coating, and others. Based on the end-user industry, the market is sub-segmented into electrical & electronics, transportation, medical, defense & security, environmental, chemical, and others. The above-mentioned segments can be customized as per the requirements. The oxide segment is expected to hold a prominent share in the global ceramic coatings market due to its increase in the utilization of oxide coating in electric insulators. Oxide ceramic can be applied to steel, iron, copper, and zinc alloy.

The Electrical & Electronics Segment is expected to hold the Prominent Share in the Global Ceramic Coatings Market

The electrical & electronics segment is expected to hold a prominent share in the global ceramic coatings market due to the ample utilization of ceramic coatings in smartphones, television sets, computers, and consumer appliances. Increasing investments in the electronics industry are anticipated to assist the segment's growth during the forecast period. For instance, in March 2022, Reliance Industries announced creating an investment of up to USD 221 million in U.S.-based firm Sanmina, for developing a joint venture to develop its electronics production. This investment aims at forming an electronics manufacturing hub in India, which will cater to technology hardware infrastructure for industries including communications, healthcare, medical systems, and aerospace and defense.

Regional Outlooks

The global ceramic coatings market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).The market can be analyzed for a particular region or country level as per the requirement. Europe is expected to cater to a significant share of the global ceramic coatings market due to an increase in the adoption of electric vehicles. As per the data of the International Energy Agency (IEA) the electric car stock increase in 2020 occurred in Europe, where registrations more than doubled to 1.4 million (a sales share of 10%) all over the globe.

The Asia-Pacific region is expected to hold the Prominent Share in the Global Ceramic Coatings Market

The Asia-Pacific region is anticipated to hold a prominent share in the global ceramic coatings market due to an expansion in research and development investment. For instance, in December 2020, Kyocera started construction of a new research and development center in January 2021 at its Kokubu campus in Kirishima City, Kagoshima, Japan. Kyocera has completed a location agreement with the mayor of Kirishima City for the new R&D center, which will concentrate on innovations in the domains of information and communications, environmental preservation, and smart energy.

Market Players Outlook

The major companies serving the global ceramic coatings market include 3M Co., AKZO NOBEL N.V., Bodycote plc, Praxair S.T. Technology, Inc., DuPont de Nemours, Inc., Saint-Gobain Ceramics, Aremco Products Inc., MBI Coatings, BASF SE, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2021, CoorsTek announced an increase in its manufacturing facility in Southeast Asia. The construction for the first phase of the 400,000 sq. feet structure in the region of Rayong, Thailand began in February 2021. The opening of their facility in Thailand delivers a critical production hub for the continued supply of CoorsTek high-quality engineered ceramics in Southeast Asia.