High-performance ceramic coatings are an advanced form of ceramic coatings that withstand high temperature range up to 15,000°C. It is mainly used across the automotive industry due to the excellent properties such as enhanced resistance to wear and corrosion. Moreover, application of high-performance ceramic coatings enhance the fuel-efficiency of the vehicle.
The global high-performance ceramic coating market is estimated to account for US$ 8,463.2 Mn in terms of value and 1,483.9 Kilo Tons in terms of volume by the end of 2019.
Rapid growth in the automotive industry is propelling the market growth of the high-performance ceramic coatings. These coatings are widely used in the engine parts to withstand the elevated temperature level of around 15000C. Moreover, these coatings reduce the amount of heat generated in the engine component. Furthermore, they are also used in turbocharger applications. Thus, high-performance ceramic coatings acting as a thermal barrier offer protection to the engine from an elevated temperature. All these factors are propelling the market growth.
The growing demand for high-performance ceramic coatings from the healthcare industry is projected to offer potential market opportunities in the near future. Plasma-sprayed hydroxyapatite coatings are widely used by dental surgeons. These coatings are used in the dental implants and are considered as better bone apposition over traditional metal implants. Hence, growing demand for high-performance ceramic coatings from the healthcare industry is expected to propel the market growth.
Challenges associated with the thermal spray process consistency and reliability are projected to hinder the market growth. Moreover, improper adhesion of the ceramic coatings on substrate materials and equipment failure are other major factors hindering the market growth of high-performance ceramic coatings.
Global high-performance ceramic coating market was valued at 8,463.2 market in 2019 and is forecast to reach a value of US$ 14,536.7 Mn by 2027.
Automotive segment dominated the global high-performance ceramic coating market in 2019, accounting for 28.2% share in terms of value, followed by aviation, and chemical equipment, respectively
The thermal spray coating segment dominated the global high-performance ceramic coating market in 2019, accounting for 64.6% share in terms of value followed by chemical vapor deposition and physical vapor deposition segment, respectively.
Growing environmental concern is driving demand for lightweight materials for the automotive and aerospace industry. The growing trend of go green is propelling manufacturers to develop more eco-friendly coating products. Also, increasing R &D for developing such advanced and environmentally friendly coatings is again expected to foster market growth. Moreover, growing need to preserve energy as high-performance ceramic coatings help in controlling the energy wastage is further augmenting the market growth.
Merger and acquisition by major players for business expansion is a growing trend in the market and this is expected to foster the market growth of the high-performance ceramic coatings. For instance, in August 2019, Zircotec Group acquired Performance 1 Coatings. The acquisition of Performance 1 Coatings will provides a one-stop-shop for ceramic coatings, from aesthetic-protection to premium thermal barrier coatings for Zircotec Group.
High-Performance Ceramic Coatings Market - Impact of Coronavirus (Covid-19) Pandemic
The sudden outbreak of the novel coronavirus has effected various industries. The lockdown situation have caused closure of various manufacturing plants globally. The high-performance ceramic coatings market is one of the most effected industry during the pandemic period owing to decrease in the demand for such coatings from various end-users such as automotive and chemical industries. For instance, the sales of automobile is expected to decline for about 25% during the year 2020-21.
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