Selbyville,Delaware, United States,Nov 18 2020 (WiredRelease) Global Market Insights, Inc–:According to a study, global ceramic coating market could cross USD 13.6 billion in total annual remuneration by 2026. Ceramic coatings have gained enormous demand from its use in the aerospace, automobile, and healthcare industry due to their superior adhesion and corrosion resistance characteristics. The increasing demand for high temperature and corrosion-resistant coatings along with the expansion of automobile sector in the Asia Pacific and European regions will support the consumption of the product.
Europe boasts of a strong automobile industry led by countries like Germany and Italy. According to the ACEA, nearly 18.5 million motor vehicles were produced in the EU during the year 2019. The developments in the aerospace sector, primarily in the U.S. owing to its vast military budget, are likely to boost the adoption of ceramic coatings. As of FY 2019, the defense spending of the U.S. stood at USD 732 billion.
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With respect to the type of technology, thermal spray has attained considerable recognition due to increasing use in the industry owing to its various benefits like increased water resistance and enhanced protection against corrosion along with wear resistance. The physical vapor deposition method of ceramic coating has also gained recognition as suitable for cutting tools like solid carbide end mills, along with drills for machining composites.
Strict regulations established by the governments in the APAC region regarding the need to control the carbon emission levels have supported the adoption of electric vehicles, which has led to the penetration of ceramic coatings in auto manufacturing across the region.
North America ceramic coating market has emerged as a profitable revenue terrain over the years due to the vast aerospace industry in the U.S. Moreover, the growing need for the product to protect the exteriors of the cars from UV rays will propel the ceramic coating market growth.
Concerning the application spectrum, the transportation and automobile segment has accounted for the majority stake in the market over the years. Rapid urbanization has amplified the need for ceramic coatings in vehicles, healthcare and industrial products, especially in developing countries. Moreover, the increase in automobile production in countries like South Korea, Japan, India, and China is parallelly driving the need for the coatings.
According to the Korea Automobile Manufacturers Association, in 2019 South Korea manufactured approximately 3.95 million vehicles, making it the seventh largest car producer in the world. Some of the advantages of using ceramic-based coatings on vehicles include protection from chemical stains, gloss, protection against harmful UV rays, protection from scratches, ease in cleaning, protection from water spots, and many more.
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Industrialization in many parts of the world has complemented the need for novel ceramic solutions. Ceramic coatings manufacturers are constantly working to improve their offerings to meet the changing consumer needs and to accelerate their reach. For instance, during the year 2017, German firm- CeramTec announced the acquisition of Morgan Advanced Materials’ U.K. electro-ceramics business, which comprised of two manufacturing sites. The Some of the prominent ceramic coating market players include Saint- Gobain S.A., Praxair Surface Technologies, Inc., Du Pont De Nemours & Company, and Kurt J. Lesker Co. among various others.
The COVID-19 pandemic has largely affected industrial operations globally due to the restrictions in the movement of people and raw materials. Moreover, noticing the stark decline in the sale and demand for automobiles, many jobs in the industry had been cut. The WSWS had reported in June that the automobile industry in Germany was preparing to cut more than 100,000 jobs.
The fall in the sector will subsequently lead to a decline in the demand for ceramic coatings. However, with gradual relaxations announced by the governments to uplift the economy, the ceramic coatings market will regain traction due to industrial improvement.
With the growth in various sectors of the economy, ceramic coatings will witness subsequent consumption due to its widespread use in aerospace, defense, healthcare and other applications. Considering the favorable properties of the product, the industry will register notable gains in the near future from emerging economies.
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source https://wiredrelease.com/press-release/automobile-applications-to-augment-ceramic-coating-market-trends-2-2020-11-18
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