Thermal spray segment accounted for 50% market share for ceramic coating in 2020 and is expected to reach USD 8 billion by 2027, with a CAGR of 7.5% during forecast. Thermal spray coating is gaining popularity due to its advantages such as good corrosion & wear resistance and the ability to deposit significantly thicker coatings at higher deposition rates than conventional coating processes. The use of ceramic coatings through thermal spray technology is mainly for thermal barriers, dielectric strength, corrosion protection, and sliding wear.
In line with similar advancements, ceramic coating market value is expected to surpass USD 13.54 billion by 2027, according to the latest study conducted by Global Market Insights Inc.
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Steps taken by leading industry players: DuPont inks a definitive agreement for the acquisition of Rogers Corporation
Key participants in the ceramic coating industry comprise Cetek Ceramic Technologies Ltd., Bodycote PLC, APS Materials, Inc., Keronite Group, Aremco Products, Inc., Saint-Gobain S. A., Morgan Technical Ceramics, Praxair Surface Technologies, Inc., and others. Furthermore, a number of ceramic coating manufacturers are focused on the adoption of capacity expansion and strategic initiatives including mergers, acquisitions, partnerships, and product developments for maintaining their position in the market.
For instance, in April 2021, DuPont forged a definitive agreement for the acquisition of Rogers Corporation, a global leader in engineered materials and components, for a value of USD 5.2 billion. The move formed part of the company’s advancement of its strategy, centered on market-leading high-margin, high-growth businesses with complementary financial and technology characteristics.
In a nutshell, the mounting use of ceramic coating materials in heavy-duty and high-speed applications for power generation equipment, steel production, and in food manufacturing and pharmaceutical equipment is expected to bolster industry expansion through the upcoming years.
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Increasing financing of R&D projects: University of Nottingham expert receives £2.1M funding
An increase in research and development initiatives by various organizations is expected to open avenues for business expansion across various industries. Citing an instance, in April 2021, a materials expert at the University of Nottingham procured a funding of over £2.1M for the development of new coatings to be deployed in the aerospace industry.
The project makes use of advanced chemistry and AI for influencing the molecular architecture of ceramic materials for making them more sustainable and durable and tailoring their properties. The initiative is expected to help cut jet plane CO2 emissions and enable the venturing of spacecrafts (built for humans) into the solar system.
Rising product application across various end-users: 3M launches 3M Ceramic Coating in the Indian automotive industry
The market share from industrial goods is anticipated to exceed USD 2.6 billion by 2027. This rise can be attributed to the surging deployment of the product across various end-user industries including energy, aerospace, healthcare, and automotive sectors.
Numerous companies are, therefore, depicting an increased interest in the introduction of new ceramic coating products across various regions. For instance, in February 2022, 3M India announced the rollout of 3M Ceramic Coating on the Indian automotive and paint market. Facilitating easier car care procedures with minimal maintenance, the treatment has been launched as an ultimate solution to all issues pertaining to exterior car surfaces.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
