High Performance Ceramic Coatings Market - Forecast(2023 - 2028)

High Performance Ceramic Coatings Market Overview

The high performance ceramic coatings market size is forecast to reach US$14.6 billion by 2027 after growing at a CAGR of 6.5% during 2022-2027. High performance ceramic coatings are advanced coatings that offer high-temperature protection, increased wear resistance, and corrosion protection to various components and equipment in multiple industries. The product involves several types of coatings such as oxide coatings, carbide coatings, nitride coatings, among others. High performance ceramic coatings are extensively used in multiple industries owing to their robust properties. The automobile industry is one of the largest consumers of high performance ceramic coatings where these coatings are utilized for reducing friction, enhancing wear resistance, and offering corrosion protection to various automobile parts such as pistons, intake manifolds, headers, exhaust manifolds, cylinder heads, battery casing of EVs, etc. The automobile industry is booming globally and this is expected to augment the market’s growth in the forecast period. For instance, according to the August 2020 stats by the China Association of Automobile Manufacturers, China’s passenger vehicle segment will reach 30 million units by 2029 which was 21.44 million units in 2019. Furthermore, high performance ceramic coatings find their massive usage in the aerospace industry where it is used for protecting engine turbine blades from severe temperature. The aerospace and defense sector expanding globally with increasing aircraft numbers and this, in turn, is projected to drive the market’s growth in the forecast period. As per Boeing’s Commercial Market Outlook 2021-2040 report, the commercial fleet globally is anticipated to reach 49,000 airplanes by 2040. Thermal spray technology will witness the highest demand. Chemical vapor deposition technology is projected to witness significant demand in the forecast period. The high cost associated with high performance ceramic coatings might hinder the market’s growth in the forecast period.

COVID-19 Impact 

The high performance ceramic coatings market experienced a slow growth rate due to the impact of COVID-19. The business in the market was affected owing to disturbances such as supply disruption, procurement of raw material, and idling of factories. Market players had to modify their work patterns to carry out a standard business operation during the pandemic. The growth of the market was further affected owing to the stagnant growth of various end-use industries. The drop in automobile production influenced the market negatively. However, the demand for high performance ceramic coatings increased towards the end of 2020. Going forward, the market is projected to witness significant demand in the forecast period. 

High Performance Ceramic Coatings Market Report Coverage 

The report: “High Performance Ceramic Coatings Market Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the High Performance Ceramic Coatings Industry.

By Product Type: Oxide Coatings, Nitride Coatings, Carbide Coatings, Others.
By Technology: Thermal Spray, Flame Spray, Plasma Spray, Chemical Vapor Deposition, Physical Vapor Deposition, Others.
By End Use Industry: Automotive, Passenger Vehicle, Commercial Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, Aerospace and Defense, Food and Beverage, Power Generation, Healthcare, Long Term Care Facilities, Hospitals, Clinics and Diagnostic Centers, Aerospace and Defense, Industrial, Marine, Oil and Gas, Electrical and Electronics, Agriculture, Others.
By Geography: North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of Asia Pacific), South America (Brazil, Argentina, Colombia and Rest of South America), and RoW (Middle East and Africa).

Key Takeaways: 

• Thermal spray technology dominated the high performance ceramic coatings market in 2021. This technology offers protection to various components to ensure their excellent performance and durability. 
• The aerospace and defense sector is expected to drive the market’s growth in the forecast period. For instance, according to Airbus Global Market Forecast 2021-2040 report, around 15250 new aircraft will be delivered in the next 20 years for the replacement of older less fuel-efficient models. 
• The Asia-Pacific region is projected to witness the highest demand for high performance ceramic coatings owing to the booming automobile sector in the region. For instance, as per the stats by the China Association of Automobile Manufacturers, the annual sales volume of NEVs will touch 3 million units by 2025 in China which was 1.2 million units in 2019.

Figure: Asia Pacific High Performance Ceramic Coatings Market Revenue, 2021-2027 (US$ Billion)

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High Performance Ceramic Coatings Market - By Technology 

Thermal spray technology dominated the high performance ceramic coatings market in 2021. This technology helps in the precise coating of various components, making the ceramic coating lasts for a longer period. Moreover, the coating done through this technology offers robust corrosion protection to components to survive harsh environments. Owing to these excellent properties, market players and research organizations are expanding their thermal spray ceramic coating portfolio. For instance, as per the September 2020 journal by the American Chemical Society (ACS), a study was conducted in which the corrosion protection capability of thermal spray coatings was enhanced. Such increasing capabilities of thermal spray technology is expected to increase its demand in the forecast period. 

High Performance Ceramic Coatings Market - By End Use Industry

The automobile industry dominated the high performance ceramic coatings market in 2021 and is growing at a CAGR of 7.1% in the forecast period. High performance ceramic coatings are used in large quantities for providing wear resistance and corrosion protection to multiple automobile components and help in maintaining the glossy finish for a longer period. The automobile sector is booming globally with the increase in production and sales and this is expected to contribute to the market’s growth during the forecast period. For instance, according to the stats by India Brand Equity Foundation, the passenger vehicle segment witnessed a growth of 28.39% as sales reached 279,745 units in March 2021 which was 2,17,879 units in March 2020. Similarly, according to the June 2021 stats by European Automobile Manufacturers Association, in May 2021, passenger cars registrations surged by 53.4% in the European Union. Such a massive boost in the automobile industry globally is expected to increase the higher uses of high performance ceramic coatings in several auto parts, driving the growth of the market during the forecast period. 

High Performance Ceramic Coatings Market - By Geography

The Asia Pacific region held the largest market share in the high performance ceramic coatings market in 2021, up to 34%. The high demand for high performance ceramic coatings is attributed to the region’s booming automobile sector. High performance ceramic coatings are massively utilized in the region’s automobile sector where these coatings enhance wear resistance and provide corrosion protection to a wide variety of automobile components. The automobile industry in the region is growing rapidly and this is expected to increase the use of high performance ceramic coatings during the forecast period. For instance, according to the report by India Brand Equity Foundation, Foreign Direct Investment received by India between April 2000 to March 2021 for the automotive development sector stood at US$ 25.85 billion. Similarly, as per the stats by the China Association of Automobile Manufacturers, production of Chinese commercial vehicles touched 310000 units in September 2021, jumping 35.5% month on month. Such a high boost in the region’s automobile sector is anticipated to stimulate the higher utilization of high performance ceramic coatings in the forecast period. 

High Performance Ceramic Coatings Market Drivers

Expanding aerospace and defense sector will drive the market’s growth 

High performance ceramic coatings find their massive use in the aerospace and defense sector as they offer protection to engine components of commercial and defense aircraft against high temperature. The aerospace and defense sector expanding globally with increasing numbers of aircraft and this is expected to drive the market’s growth during the forecast period. For instance, according to the November 2021 data by Airbus, the company expects demand for 39000 new passenger and freighter aircraft by 2040. Similarly, according to the 2021 Boeing Market Outlook report, the aerospace products and services addressed by Boeing are projected to become a US$ 9 trillion market over the next decade. This expansion in the aerospace and defense sector globally is projected to augment the higher utilization of high performance ceramic coatings which in turn is expected to contribute to the market’s growth in the forecast period. 

Booming automobile sector will drive the market’s growth 

High performance ceramic coatings such as carbide coatings and nitride coatings are extensively used in the automobile sector where these coatings provide wear and corrosion protection to multiple auto components. The automobile industry is booming globally with the increase in production and sales and this, in turn, is expected to drive the market’s growth in the forecast period. For instance, as per the July 2021 stats by the European Automobile Manufacturers Association, passenger car registration increased by 25.2% in the first of 2021 in the European region. Similarly, as per the stats by the India Brand Equity Foundation, demand for passenger vehicles increased in India as 261,633 units sold in April 2021, gaining a market share of 12.9%. Such a high boost in the global automobile sector is anticipated to amplify the higher utilization of high performance ceramic coatings and this is expected to drive the market’s growth in the forecast period. 

High Performance Ceramic Coatings Market Challenges

The high cost associated with high performance ceramic coatings might hamper the market’s growth 

The high cost associated with the high performance ceramic coatings has been a key challenge and this might hamper the market’s growth in the forecast period. A wide variety of ceramic coating technologies such as thermal spray and chemical vapor deposition are implemented for coating application. However, the high cost involved with these coatings technologies restricts their widespread adoption. The costliest one is the plasma spray technology which is an advanced ceramic coating technology that comes with the ability to spray a wide range of materials. Despite its superior properties, this technology has not achieved the status of getting utilized frequently. For instance, as per the July 2020 journal by Multidisciplinary Digital Publishing Institute, cheap technology such as cold gas spray technology will be used more often rather than expensive ceramic coating technology like plasms spay to obtain bond coatings. This high cost associated with high performance ceramic coating technologies might hamper the market’s growth in the forecast period. 

High Performance Ceramic Coatings Industry Outlook 

Investment in R&D activities, acquisitions, product and technology launches are key strategies adopted by players in the high performance ceramic coatings market. Major players in the high performance ceramic coatings market are: 

1. Bodycote plc
2. Zircotec
3. Integrated Global Services, Inc.
4. Aremco Products
5. A.W. Chesterton Company Inc.
6. APS Materials, Inc.
7. A&A Coatings
8. Others

Recent Developments 

In December 2020, UK-based Bodycote plc opened its new facility that includes advanced heat-treating technologies such as ferritic nitrocarburizing, vacuum nitriding, low pressure carburizing, and carbonitriding. This new centre enabled the company to expand its services in the Midwest and helped in shaping the company’s future. 

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