New York, March 13, 2024 (GLOBE NEWSWIRE) -- The global ceramic coatings market size is predicted to expand at ~7.5% CAGR between 2024 and 2036. The market is projected to garner a revenue of USD 23 billion by the end of 2036, up from a revenue of ~USD 10.5 billion in the year 2023.The increasing number of cars and trucks sold across the world is propelling market growth. In Europe, over 11,200,000 units of cars were sold in the year 2022 as per the reports.
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Additionally, the characteristics of ceramics make them adaptable to use in different verticals including healthcare, automobiles, defense, homeware, and others. Rising new product introductions into the market along with the applications in the defense industry driving the market growth. For instance, in 2021, 3M Company introduced Ceramic Coating for the Indian automotive and paint sector to resolve the issues faced by the exterior car surfaces. The new coating gives a hydrophobic finish which makes it suitable for water-bearing and maintains durability.
Growing Manufacturing in the Aircraft Industry is Strengthening the Growth of the Ceramic Coatings Market
The increasing need for corrosion protection for aircraft surfaces is fostering market growth. The increasing production of aircraft with rising traffic across the world owing to a hike in the travelers is increasing the demand for market. Further, the coatings of ceramic give an aesthetic look to the airplanes. Hence other parts of the aircraft such as wings and fuselages are also coated with ceramics. Also, the ceramic coating of the fuel engine of aircraft can enhance fuel efficiency and performance. For instance, System X develops ceramic coatings that protect the plane surfaces from UV rays, de-icing fluids, scratches, swirl marks, rain acids, bird droppings, and heat resistance over 1000º Fahrenheit.
Ceramic Coatings Market: Regional Overview
The escalating Number of Constructions is Mounting the Market Growth in the Asia Pacific Region
Asia Pacific region ceramic coatings market is set to hold a lion’s share of 50% in the year 2036. The demand for the construction sector in the region owing to the high economic standards and rising investment in the buildings and new homes is propagating the market size. In addition, ceramic paint coatings on vehicles are also soaring in the market trends in the region during the forecast period. Besides, the increasing vehicle imports and exports business in the region is amplifying the market growth. As per the reports, the growth in the private residential, infrastructure, and commercial constructions in the Asia Pacific region in 2022 were over 10%, 48%, and 13% respectively.
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Enhancing Investments in the Defense and Aerospace Verticals is Intensifying the Market Expansion in North America Region
The North American region ceramic coatings market is reckoned to set a market share of 20% during the projected time frame owing to the multiplying investments in the sector of defense and aerospace. Moreover, the aggregating growth in the aerospace and defense sectors is adding to the market trends in the region. The U.S. aerospace and defense industry exports grew by more than 10% reaching a value of USD 100 billion in 2021.
Ceramic Coatings, Segmentation by Application
- Automotive & Transportation
- Energy
- Aerospace & Defense
- Industrial Goods
- Healthcare
The ceramic coatings from the automotive & transportation segment is projected to register a market share of 32% in the coming years. The rising demand for corrosion protection layers in vehicles is driving the market segment growth. Also, the segmental growth of the market is attributed to the increasing purchase of second-hand vehicles across the world. It was reported that more than 15% of the accidents of aircraft are occurred by corrosion fatigue.
Ceramic Coatings, Segmentation by Technology
- Thermal Spray
- Physical Vapor Deposition
- Chemical Vapor Deposition
The ceramic coatings from the thermal spray segment is anticipated to garner a noteworthy market share of 50% by the end of 2036. The wide range of applications of the thermal spray which can be used for coating any surface is propelling the market segment growth. The thermal spray provides enhanced surface characteristics, strength, energy reduction, corrosion protection, and others which are likely to fuel the market segment size.
A few of the well-known industry leaders in the ceramic coatings market that are profiled by Research Nester are The Dow Chemical Company, Compagnie de Saint-Gobain S.A., A.W. Chesterton Company, Bodycote plc, Aremco Products Inc., NANOSHINE GROUP CORP, XPEL, Inc., A&A Company Inc., OC Oerlikon Corporation AG, and others.
Recent Development in the Market
- OC Oerlikon Corporation AG acquired AMT AG through an agreement. The ownership is aimed to focus on the company’s strategy to expand the surface solution technologies along with improving the market applications and customer service availability.
- XPEL, Inc. revealed the expansion of its product portfolio, with the addition of four new products to the FUSION PLUS edition for automobiles. The new portfolio includes five novel products to provide enhanced safety against different surfaces comprising glass, wheels, plastic, brake calipers, upholstery, and others.
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