Global Ceramic Coating Market – Overview
The demand for inorganic materials such as Ceramic Coatings are increasing at a steady pace. Market focused reports related to the healthcare sector among others recently have been made available by Market Research Future which publishes reports on this sector. The Ceramic Coating Industry is anticipated to observe significant revenues worth USD 18.136 Billion by 2023 while growing with a CAGR of 7.6 percent in the forecast period.
The Ceramic Coating Industry is expanding positively due to the demand that is being generated from the aerospace and defense sector particularly. The use of ceramic coatings for thermally insulating aerospace applications, such as space shuttles have been contributing to a great extent for the growth of the industry. Increasing demand from the oil and gas exploration and steel industries are estimated to fuel market development of ceramic coatings in the forecast period. Overall development of the market will rely on continuous research and development and increasing applications for the industry over the forecast period.
The Ceramic Coating Industry is broadly segmented on the basis of end user, types, and region. The market on the basis of types of ceramic coating is segmented into alumina-magnesia, silicon carbide, silicon nitride, alumina, silica, and others. The end user segment of the market is segmented into aerospace & defense, automotive, chemical industry, textile industry, oil and gas exploration, steel industry, plastics industry, and others. Lastly on the basis of region have segmented the market into APAC, North America, Europe, Latin America, and Middle East & Africa.
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Detailed Regional Analysis
The regional analysis of the Ceramic Coating Market has found that the Asia Pacific region is a major market of the ceramic coating industry owing to the demand in numerous applications such as oil & gas exploration, automotive and textile industry in the nation of China followed by Brazil, India, Saudi Arabia, Mexico, and Japan which will be pivotal in the industry expansion over the forecast period. Owing to automotive, aerospace & defense and oil & gas exploration, the North American region is projected to secure second position in the ceramic coating market globally. The third biggest region of ceramic coating is Europe. The Latin America and Middle East region will also observe growth in the ceramic coating industry owing to the various end user industries such as oil and gas exploration, automotive, aerospace & defense, chemical industry, steel industry, textile industry, plastics industry, and others.
Global Competitive Analysis
Challengers in the market who are constantly delivering customer value have devised their corporate strategy blueprint in a manner that can bring about the best outcomes for development in the current scenario, while also concurrently enhancing their product’s value. This state of events has shaped the opportunities for improvements in portfolio along with diversification in the sector, which has enhanced the scenario for market competitors immensely in this industry. The capability to fuel their competitive edge is one of the chief causes powering their efforts in this period. The opportunity for development in the industry appears to be encouraging through the forecast period. The escalating interest for diversification in the industry, has indirectly allowed the companies to utilize many scenarios available in the industry. The firms in this industry are also trying to improve and preserve financial liquidity that can be vital to invest in growth prospects as and when they arise.
Akzo Nobel Chemicals Company (Europe), Oerlikon Surface Solutions AG (Switzerland), APS Materials Inc. (US), E.I. Du Pont De Nemours & Company (US), Saint-Gobain Coating Solutions (Europe), Aremco Products Inc. (US), MBI Coatings (US), Bodycote PLC (US), Praxair Surface Technologies Inc. (US), Ceramic Polymer GmbH (Germany), are some of the competitors that that are shaping the market for ceramic coatings market globally.
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