Ceramic Coating Market Analysis

Ceramic Coating Market Analysis

The oxide coating segment dominated the global ceramic coating market value and is projected to reach around USD 7 billion by 2027. Oxide coatings are widely used in industries including automotive, aerospace, textile, and healthcare. Oxide coatings offer excellent electrical or thermal insulation, corrosion resistance, and wear resistance.
 

The growing use of these coatings in the automotive and oil & gas industries will fuel product demand. Furthermore, the carbide coating segment is expected to witness significant growth owing to the rising applications of these coatings in the oil & gas industry. Carbide coatings are commonly utilized in oil & gas exploration to cut expenses.
 

Thermal spray segment accounted for 50% market share in 2020 and is expected to reach USD 8 billion by 2027, registering a CAGR of 7.5% from 2021 to 2027. Thermal spray coating is gaining popularity due to its advantages such as good corrosion & wear resistance and the ability to deposit significantly thicker coatings at higher deposition rates than conventional coating processes. The use of ceramic coatings through thermal spray technology is mainly for thermal barriers, dielectric strength, corrosion protection, and sliding wear.
 

Additionally, physical vapor deposition is anticipated to grow substantially due to superior thermal efficiency and cheaper cost. The physical vapor deposition process, on the other hand, is less resistant to high surface temperatures and pressures. As a result of these drawbacks, PVD is unsuitable for the aerospace sector.
 

The transportation & automotive segment was valued at USD 3 billion in 2020 and with a CAGR 7.5% is expected to reach USD 5 billion by 2027 due to the growing product adoption in the automotive industry. Ceramic coatings are widely used in the interior and exterior surfaces of vehicles. The surging automotive production, especially in the Asia Pacific and Europe, is a key factor influencing product demand. Ceramic coating is also used in engine parts to improve heat shielding, friction reduction, and wear resistance. It is also commonly used on the exteriors of automobiles for UV protection.
 

The aerospace & defense segment is anticipated to grow at a CAGR of 7.7% through 2027. The increased use of oxide and carbide coats in engine components, space shuttles, insulating tiles, rocket exhaust cones, and windshield glass integrated into aircraft is stimulating the overall market growth. According to the Aerospace Industries Association, the global aerospace & defense industry accounted for around USD 874 billion in 2020. Surging aircraft demand along with technological developments is further anticipated to boost the overall ceramic coating market growth.
 

Asia Pacific accounted for the largest market share of around 40% in 2020. The region is expected to grow at a CAGR of 7.6% and account for USD 5 billion by 2027 due to the growing automobile production, mainly in China and India. Additionally, the rising usage of ceramic coatings in industrial applications will further boost industry growth in the near future.
 

Furthermore, increased product use in the steel industry for components such as chimneys, refractory pumps, and bearings is likely to drive market growth. Moreover, growing European aerospace industry, especially in countries including Germany, France, and Russia, is anticipated to enhance the ceramic coating market sales in the region.