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CHEMICALS AND ADVANCED MATERIALS

Ceramic Coatings Market Analysis by Product (Oxide, Carbide, Nitride, and Others); by Technology (Thermal Spray, Physical Vapor Deposition, Chemical Vapor Deposition, and Others); and by Application (Automotive & Transportation, Energy, Aerospace, & Defense, Industrial Goods, Healthcare, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • DuPont de Nemours, Inc. has acquired Laird Performance Materials, a world leader in high-performance electromagnetic shielding and thermal management solutions.
  • The Dow Chemical Company has launched solvent-free SYL-OFF SL 184 Coating, an energy-efficient alternative that is expected to maintain the overall performance.

Global Ceramic Coatings Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~ 7%

Base Year Market Size (2022)

~ USD 10 Billion

Forecast Year Market Size (2033)

~ USD 20 Billion

The global ceramic coatings market is estimated to garner a revenue of ~USD 20 Billion by the end of 2033 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 10 Billion in the year 2022. The primary factor attributed for the growth of the market is the expansion of construction sector across the world. The total spending in the U.S. construction sector was calculated to be approximately USD 2 trillion in 2020.

Ceramic-Coatings-Market-Size

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Ceramic coatings are being heavily used in construction processes owing to its greater resistance power and fewer emissions in the atmosphere. Increasing the durability of steel, ceramic coatings are a preferred option for creating buildings and automotive. As a result, the employment rate in the construction industry has considerably grown up in the past few years. Thus, the increased employment rate is expected to bring lucrative opportunities for ceramic coatings market growth. Approximately, 10 million construction workers were there in the United States, which is equivalent to 8% of the total working population as of 2021.  

Global Ceramic Coatings Market: Growth Drivers and Challenges

Growth Drivers

  • Growth in Automotive Industry – Ceramic coatings are being utilized on metal parts in vehicles owing to its characteristics which include corrosive and abrasive resistance properties. Further, ceramic coatings are useful in lowering the heat absorption and making the vehicles fuel-efficient. Therefore, the growth in automotive industry is forecasted to increase the sales of ceramic coatings in the assessment period. The recent statistics reveal that the global automotive industry is expected to reach approximately USD 9 trillion by 2030.  
  • Soar in Number of Vehicles on the Roads – The recent urbanization has led the number of vehicles on the roads to increase. As a result, the adoption rate of ceramic coatings is expected to also surge considerably. The latest reports suggest that were approximately 2 billion vehicles on roads across the globe by the end of first quarter of 2022.
  • Rising Concern Regarding Carbon Dioxide Emission – International Energy Agency revealed the data of carbon dioxide emission to be 36.2 gigatonnes in 2021, a 6% increase from the previous year.
  • Expanding Gross Domestic Product (GDP) Figures – According to World Bank, the world Gross Domestic Product was USD 86.41 trillion in 2018, which rose to USD 96.1 trillion in 2021. 

Challenges

  • High Consumption of Energy
  • Overpriced Costs of Ceramic Coatings
  • High-Level Investment

The ceramic coatings market is segmented and analyzed for demand and supply by application into automotive & transportation, energy, aerospace, & defense, industrial goods, healthcare, and others. Out of these, the automotive & transportation segment is attributed to garner the highest market share by 2033, owing to high demand of vehicles. International Organization of Motor Vehicle Manufacturers (OICA), released the global sales of vehicles statistics which revealed that it rose from 56,398,471 units in 2021 to 53,917,153 units in 2020. Whereas, the global production of vehicles calculated to be 57,054,295 units in 2021, an increase from 55,908,989 units in 2020.

Major Macro-Economic Indicators Impacting the Market Growth

Major-Macro-Economic-Indicators-Impacting-the-Market-Demand-Analysis

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Ceramic Coatings Market Regional Synopsis

Regionally, the global ceramic coatings market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2033, owing to the rapid expansion of construction industry in the region. The building construction industry in Asia Pacific is expected to reach USD 3 million by 2024, with a robust CAGR with 7%.  Also, the increased the utilization of ceramic coatings in vehicles, along with the presence of major key players and leading exporters and importers of vehicles in the region is anticipated to bring lucrative growth opportunities for the market in the forecast period. International Organization of Motor Vehicle Manufacturers (OICA) statistics revealed that the total production of vehicles in the region was 46 million in 2021, a rise from 44 million in 2020.

Ceramic-Coatings-Market-Scope

The global ceramic coatings market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global ceramic coatings market includes the following segments:

By Product

  • Oxide
  • Carbide
  • Nitride
  • Others

By Technology

  • Thermal Spray
  • Physical Vapor Deposition
  • Chemical Vapor Deposition
  • Others

By Application

  • Transportation & Automotive
  • Energy
  • Aerospace & Defense
  • Industrial Goods
  • Healthcare
  • Others

Top Featured Companies Dominating the Global Ceramic Coatings Market

  • DuPont de Nemours, Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • The Dow Chemical Company
  • A.W. Chesterton Company
  • Integrated Global Services, Inc.
  • APS Materials
  • Bodycote plc
  • Praxair S.T. Technology, Inc. (Linde plc)
  • Aremco
  • Saint-Gobain Group
  • Keronite

 

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