Albany, NY -- (SBWIRE) -- 10/26/2018 -- Global High-performance Ceramic Coatings Market: Snapshot
High-performance ceramic coatings, or HPCC, are metal or ceramic substrates coated with thin ceramic layers that offer better resistance to wear, high temperatures, and corrosion than conventional ceramics. HPCC is an important part of the advanced ceramics industry for its highly advantageous physical and mechanical properties, including corrosion and erosion resistance against a wide spectrum of chemicals and across many applications. HPCCs can also sustain elevated temperatures nearing 15000C. Formulation materials include oxides, carbides, nitrides, alumina, yttria, and zirconium.
The global high-performance ceramic coatings market is currently being driven by the growing need for superior thermal protective materials for the manufacture of better aerospace and automotive industries components. Combustion chambers and common engine components can be coated with HPCC in order to sustain high temperatures. The market is also propelled by the increasing demand for advanced materials and coatings in the electronics industry, especially for the manufacture of silicon wafers and LCD panels. The inception and developments on nanoceramics are additionally regarded as a key factor likely to be driving the global high-performance ceramic coatings market over the coming years. However, high cost of high-performance ceramic coatings, lack of skilled labor, high cost of ownership and technology issues are likely to hamper market growth during the forecast period.
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The global high-performance ceramic coatings market stood at US$5.68 bn in 2013. The market is likely to reach US$9.07 bn after expanding at a CAGR of 7.0% within a forecast period from 2014 to 2020.
APAC Demand for HPCC Could Surpass North America
In 2013, North America took up a leading demand of nearly 34% for in the global high-performance ceramic coatings market, followed by Europe. The high demand volume in North America is attributed to the swift growth in its industries of aviation and automotive, and the growing demand for HPCCs in them. Asia Pacific is likely to lead the global high-performance ceramic coatings market in terms of growth rate over the coming years, thanks to the booming automotive industry in countries such as China and India. The EMEA and Latin America regions are also likely to exhibit a stable growth in demand for high-performance ceramic coatings over the next few years.
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PVD Offers Huge Growth Potential
Based on technologies, the global high-performance ceramic coatings market is primarily segmented into thermal spray coatings, chemical vapor deposition (CVD), physical vapor deposition (PVD), and sol-gel processing. Thermal spray coatings had taken the lead in the global high-performance ceramic coatings market for the past few years, CVD was in the second place, having taken up 16% of the market for 2013. CVD technology is likely to lose share over the forecast period due to increased demand for eco-friendly technologies, which conversely is giving a boot to physical vapor deposition (PVD) technologies. PVD is expected to lead the global high-performance ceramic coatings market in terms of growth rate, primarily due to its ability to utilize any type of coating material on various substrates. This segment is currently considered a lucrative technology by coating services providers and manufacturers.