Ceramic Coating Market – Market Overview
Ceramic Coatings are the inorganic materials that are processed and used at high temperatures. Some of the commonly used Ceramic Coatings includes alumina, silica, alumina-magnesia, silicon carbide, silicon nitride, and others based compositions. Ceramic Coatings are used in the applications which requires wear and corrosion resistance and good thermal and electrical insulation. Ceramic Coatings are increasingly used in automotive, aerospace and defense, and oil and gas industries among others.
The growth of Ceramic Coatings Market is largely influenced by the automotive industry globally. The use of Ceramic Coatings is increasing in automobiles as it provides protection against scratches, dirt and chemical contaminants and enhances vehicle’s gloss. Expanding automotive industry with rising demand for the light weight, electric and hybrid vehicles is fuelling the demand for Ceramic Coatings globally. Expanding aerospace and defense industry on account of increasing production of aircrafts and increasing investment by the government on defense equipment is likely to propel the growth of Ceramic Coatings Market globally. Ceramic Coatings are used in aircrafts, helicopters, and defense equipment as it provides resistance against corrosion and icing and reduce the maintenance cost.
The consumption of Ceramic Coatings in also increasing in semiconductor, steel, textile, and paints and coatings industry due to its superior properties such as wear resistance, enhanced thermal conductivity, and chemical inertness.
The market in Asia-Pacific accounted for the largest share of the Global Ceramic Coatings in 2017 and is expected to grow at a considerable CAGR during the review period. Expanding automotive industry on account of rising demand for automobiles coupled with rising purchasing power is likely to drive the growth of ceramic coatings market. North America was another prominent market for ceramic coatings during the review period on account of increasing aircraft production in this region. For instance, according to Aerospace Industries Association (AIA), in 2017, the U.S. Aerospace & Defense industry’s exports grew by 26% over the last five years to USD 143 billion. Moreover, increase in military budget in the U.S to strengthen military power is another factor driving the market growth. However, high cost of applying Ceramic Coatings on automobiles may hamper the market growth.
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Ceramic Coating Market – Competitive Analysis
The use of Ceramic Coating is expanding rapidly across the globe especially in the Asia pacific region owing to the growing automotive and aerospace industry. Some of the growing trends noticed among the market players are acquisition and new product development. For instance, in 2017, Ferro Corporation, a leading provider of functional coatings and color solutions acquired Europe based Gardenia Quimica, a leading provider of additives and medium for ceramic additives. This step will help the company to backward integrate into a number of materials used by ferro for manufacturing tile products.
Industry/ Innovation/ Related News:
March, 2018– Zircotec, developed a new plasma applied ceramic coating which will enable the use of composite materials in vehicles which was not possible prior due to high temperatures.
October, 2017– The US based Ferro Corporation, a leading provider of functional coatings and color solutions acquired Endeka Group, a global producer of high value coatings and raw materials for the ceramic tile market to expand its product portfolio and strengthen business presence globally.
August, 2017- Ferro Corporation, a leading provider of functional coatings and color solutions acquired Europe based Gardenia Quimica, a leading provider of additives and medium for ceramic additives. This step will help the company to backward integrate into a number of materials used by ferro for manufacturing tile products.
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