Ceramic Coatings Market size is expected to cross USD 23 Billion by the end of 2036, growing at a CAGR of 7.5% during the forecast period, i.e., 2024 – 2036. In the year 2023, the industry size of ceramic coatings was over USD 10.5 Billion. The growth of the market can be attributed to a worldwide increase in car and truck sales, across the globe. During April 2022 to March 2023, against 2,30,40,066 units in the period from April 2021 to March 2022, an overall output of 2 59,31,867 vehicles comprising passenger cars, commercial vehicles, three-wheelers, two-wheelers, and quadricycles in India.
Moreover, in addition to those factors that are assumed to be the driving force for market growth of ceramic coatings and which provide them with unique characteristics capable of being used across a range of industries like healthcare, defense, automobiles etc. In addition, there is an intrinsic plasticity property in it. Moreover, market growth is estimated to accelerate over the next few years due to an increased number of new product launches as well as increasing defense industry activity.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~7.5% |
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Base Year Market Size (2023) |
~ USD 10.5 Billion |
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Forecast Year Market Size (2036) |
~ USD 23 Billion |
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Regional Scope |
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Application (Automotive & Transportation, Energy, Aerospace & Defense, Industrial Goods, Healthcare)
The automotive & transportation segment is anticipated to hold 32% share of the global ceramic coatings market. Increasing demand for vehicles to offer a layer of corrosion prevention can be attributed to this growth. In order to provide a corrosion-free protection layer, these coatings are most often used on vehicles' bodies. In other words, in 2021 the global sales of cars reached 57,399,478 units whereas by 2020 they were 54,919,156. Similarly, an increase of almost 57,058,298 units from 55,905,987 in 2020 was estimated for the world's vehicle production in 2021.
Technology (Thermal Spray, Physical Vapor Deposition, Chemical Vapor Deposition)
Ceramic coatings market from the thermal spray is expected to garner a significant share of around 50% in the year 2036. A large density of the thermal spray, which is capable of delivering enhanced surface characteristics, corrosion resistance, capacitance strength and so on, can be considered as a driver for segment growth. In addition, almost all material surfaces can be covered with this method of application. In the coming year, it is therefore expected that this factor will also increase segment growth.
Our in-depth analysis of the global market includes the following segments:
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Product |
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Technology |
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Application |
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APAC Market Forecast
The ceramic coatings market in Asia Pacific is projected to be the largest with a share of about 50% by the end of 2036. Rapid development of the construction sector in a number of countries, as well as an increasing auto industry is primarily to blame for market growth. For instance, by 2024 the building construction sector in Asia Pacific is estimated to be worth almost USD 3 million. Dynamic growth opportunities for the market in the forecast period are expected to be created by the increased use of ceramic surface paint on vehicles, as well as major key players and leading vehicle exporters and importers in the region. According to a report, by 2021, the overall vehicle production in the APAC region is expected to reach around 46 million cars, which indicates an increase of 44.2 million compared with 2020.
North America Market Statistics
The North America ceramic coatings market is estimated to be the second largest, registering a share of about 20% by the end of 2036. The significant growth of the air and defense sectors, coupled with an increasing investment in this sector within the region, has been a major driving force for market growth. For example, in the United States, defense investment increased by more than 6 % in 2019 to nearly USD 750 billion.
OC Oerlikon Corporation AG signed an agreement to acquire AMT AG. The acquisition is consistent with Oerlikon's strategy of focusing on and broadening its surface solution technologies while enhancing market applications and customer service availability.
EXPEL, Inc. has declared the expansion of the product portfolio of its leading automotive ceramic coating, FUSION PLUS. The flagship coating portfolio has included five new products to deliver efficient protection to various surfaces comprising glass, plastic, wheels and brake calipers, upholstery, and so on.
Author Credits: Smruti Ranjan, Rajrani Baghel
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