High Performance Ceramic Coatings Market: Introduction
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Market Research delivers key insights on the global high performance
ceramic coatings market. In terms of revenue, the global high
performance ceramic coatings market is estimated to expand at a CAGR of ~7%
during the forecast period, owing to numerous factors, regarding which TMR
offers thorough insights and forecasts in its report on the global high
performance ceramic coatings market.
The global
high performance ceramic coatings market has been positively impacted by the
rise in demand for these coatings in automobile and aviation industries across
the globe. Thus, increase in demand for high performance ceramic coatings in
automobile and aviation industries is propelling the global high performance
ceramic coatings market.
High Performance Ceramic Coatings
Market: Dynamics
The demand
for high performance ceramic coatings has been rising in automobile, aviation,
and chemicals industries since the past few years, as these coatings provide
protection to different engine parts, reduce friction, and help increase wear
resistance. This is expected to boost the global high performance ceramic
coatings market.
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Investments
in the global aerospace industry have been rising significantly since the past
few years. For instance, in 2018, the aviation industry contributed US$ 151 Bn
in export sales to the U.S. economy. The aviation industry in India is likely
to achieve investment of US$ 4.99 Bn by
2023. Growth in production and export of military aircraft and components from
countries such as the U.S., the U.K., France, China, and Russia are expected to
boost the demand for thermal spray coatings. This trend is likely to fuel the
demand for high performance ceramic coatings.
High Performance Ceramic Coatings
Market: Prominent Regions
In terms of
value, North America is a lucrative region of the global high performance
ceramic coatings market. The region accounted for a major share of the global
high performance ceramic coatings market in 2019. It is projected to be a
highly lucrative market during the forecast period, due to rapid increase in
investment in automotive and aviation industries in the region. In 2018,
automakers such as FCA, Ford, GM, Hyundai, Nissan, Toyota, and Volkswagen
invested more than US$ 4 Bn in
capacity expansion and R&D. This trend is expected to continue due to the
high demand for passenger cars. The U.S. dominated the high performance ceramic
coatings market in North America in 2019. It is anticipated to continue its
dominance during the forecast period. This can be ascribed to the growth of
automotive and aerospace industries in the country.
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Asia
Pacific held a key share of the global high performance ceramic coatings market
in 2019. Asia Pacific is an attractive region of the global high performance
ceramic coatings market due to rapid industrialization and urbanization.
Industrialization has led to significant rise in FDI in countries such as
China, India, Japan, and South Korea. Furthermore, new vehicle sales in Asia
Pacific stood at 35.96 million in 2019; of this, 21.44 million
were sold in China. Thus, China is a major hub for automotive products, wherein
high performance ceramic coated products are used. This is estimated to drive
the high performance ceramic coatings market in the country during the forecast
period.
Europe is
another key region of the global high performance ceramic coatings market.
Europe is the leading region in terms of the aerospace & defense industry.
In 2018, the industry’s turnover stood at US$ 293 Bn.
Furthermore, Europe was the leading exporter of aerospace and defense equipment
in 2018. The revenue generated from exports stood at US$ 175 Bn
in 2018. The expansion of the aerospace industry in Europe is projected to
boost the high performance ceramic coatings market in the region in the near
future.
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High Performance Ceramic Coatings
Market: Key Players
Key players
operating in the global high performance ceramic coatings market are Aremco
Products, Inc, Ceramic Polymer GmbH, Saint Gobain SA, Bodycote Plc, Praxair
Surface Technologies, Inc., A&A Company, Inc, and Zircotec.
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