The High Performance Ceramic Coatings Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s High Performance Ceramic Coatings Global Market Report 2024, The high performance ceramic coatings market size has grown strongly in recent years. It will grow from $9.5 billion in 2023 to $10.34 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to increased demand from aerospace industry, rise in automotive applications, rise in industrial equipment, demand from energy generation, demand from medical devices.
The high performance ceramic coatings market size is expected to see strong growth in the next few years. It will grow to $14.58 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to increasing renewable energy, rising electric vehicles (evs), increasing environmental regulations, rising research and development, rising demand in microelectronics. Major trends in the forecast period include thermal barrier coatings, advanced thermal spray technologies, wear and erosion resistance, enhanced corrosion protection, ceramic nanocomposites.
The growing demand for electric vehicles will drive the growth of the high-performance ceramic coatings market going forward. Electric vehicles are those that are powered entirely or partially by electricity. Electric vehicles have low running costs due to fewer moving parts, and they are also very environmentally friendly because they require little or no fossil fuels (petrol or diesel). High-performance ceramic coatings are essential in keeping the substrates of electric vehicles and their components free of rust and other damage. It also has a big impact on the aesthetics of electric vehicles. For instance, in July 2023, according to the International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric vehicles nearly doubled to 6.6 million in 2021, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, the increasing demand for electric vehicles propels the growth of the high-performance ceramic coatings market .
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The high performance ceramic coatings market covered in this report is segmented –
1) By Product Type: Oxide Coatings, Carbide Coatings, Nitride Coatings
2) By Technology: Thermal Spray, Physical Vapor Deposition, Chemical Vapor Deposition, Other Technologies
3) By End-User: Automotive, Aviation, Chemical Equipment, Healthcare, Other End Users
Technological advancements have emerged as a key trend gaining popularity in the high-performance ceramic coatings market. Major companies operating in the high-performance ceramic coatings sector are focused on developing new technological solutions to reinforce their position. For instance, in October 2022, Apex Auto Care, a US-based automotive care and paint protection, introduced a New Self-Healing Ceramic Coating Service to the Automotive Sector. Heal Light and Self Heal Plus are two different types of self-healing ceramic coating technology. Once heated at a temperature above 60 °C, both types instantly repair any minor dings and swirls. Both Self Heal Plus and Heal Light can treat identical scratches over a period of days, even when kept at room temperature.
The high performance ceramic coatings market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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