Global hard coatings market by material type (borides, nitrides), deposition technique (PVD, CVD), applications (cutting tools, decorative coatings), end-use industry (general manufacturing, transportation, aerospace & defense,) and region- Forecast till 2023
OC Oerlikon Corporation AG (Switzerland), PLATIT AG All (Switzerland), ZEISS International (Germany), CemeCon AG (Germany, SDC Technologies (the U.S.), Momentive (U.S.), Sulzer Ltd. (Switzerland), ASB Industries, Inc. (the U.S), and Hardcoatings, Inc. (U.S.)are some of the prominent players at the forefront of competition in the global hard coatings market and are profiled in MRFR Analysis.
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Hard Coatings Market–Market Overview
According to the studies conducted by MRFR analysts the global protective coating market is poised to grow at a robust CAGR of nearly 10% to attain mark of around USD 25 billion by the end of 2023. This is anticipated to favor growth of the market in coming years. The major factors responsible for this growth trajectory of the global hard coatings market are surging demand for the tough coating films and products form transportation & automotive industry, changing consumer sentiments in favor of preventing the damage to their devices and other important equipment from any thermal, corrosion and other impact action.
Increasing consumption of the protective coatings in numerous emerging end use industries such as automotive, building & construction, and other industrial purposes. Additionally the use of hard coatings on important tools and equipment, along with an end decorative product is projected to be the favorable factor for growth of this market.
However the substantial factor which is likely to hamper growth of this market during the assessment period is the capital-intensive nature of the processes involved in this market is projected to hamper the growth during the period under consideration.
Geographically, there are five key regions in which the global hard coatings market is spanned across the Asia Pacific, North America, Europe Latin America, and Middle East & Africa. Among these regions, Asia Pacific is the largest market owing to the big lead achieved by the region in industrialization along with increasing government funding in the areas of infrastructure, marine and aerospace & defense. India, Japan, and China are the major markets in this region on accounts of increasing public as well as private investment in the major end-user industries of hard coatings. North America is following the Asia Pacific in terms of market size in the global hard coatings market. The U.S is the largest markets in this region owing to the steady rise in the use of hard coatings materials, mainly in aerospace & defense and marine sector. This is expected to favor the growth of the region during the forecast period. Europe is another substantial region in the global hard coatings market, which is closely following North America. Major contributors to the regional market are the U.K, France, Germany, Italy, and Poland. Europe has become a prominent market for hard coatings, wherein it is majorly used in the automotive and general industrial applications. In coming years the Middle East & Africa are likely to contribute significantly towards the growth of the market owing to increasing demand from building and construction industry. Lastly, Latin America is witnessing a steady growth due to the presence of end-use industries in countries namely Brazil and Argentina. The pacifying economic and political scenario in the region would push the regional market growth forward.
The global hard coatings market is segmented on the basis of material type, a deposition technique, application, end use industry, and region.
Based on the material type, the market is divided into borides, nitrides, carbon-based, oxides, multi-component coatings, and others.
By deposition technique, the market is classified into physical vapor deposition (PVD) and chemical vapor deposition (CVD).
On the basis of the application the global hard coatings market is categorized into cutting tools, decorative coatings, gears, bearings, optics, cylinders, pneumatic coatings, and others.
Lastly based on end-use industry, the global hard coatings market is segmented into general manufacturing, transportation, building & construction, aerospace & defense, medical, sports, food manufacturing equipment, and others.
Regionally, the global hard coatings market is divided into the Asia Pacific, North America, Europe, Middle East & Africa, and Latin America.
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Hard Coatings Market- Competitive Landscape
The global Hard Coatings is the mature market which is primarily driven by the increasing demand from in automotive and general manufacturing industry, along with the growing transportation sector on the backdrop of reviving global trend. The market accommodates significant number of tier 1 manufacturers, yet the market share is dominated by some leading players such as OC Oerlikon Corporation AG, Momentive, Sulzer Ltd., Teijin Limited, and Duralar Technologies. According to the study conducted, almost all of these participants are primarily adopting the product launch and an expansion tactics, along with the augmentation of their production capacities in order to strengthen their market position and also sustain the growing competition.
Industry/ Innovation/ Related News:
March 8, 2017- Japan based technology-driven global group, which offers advanced solutions in the field of sustainable transportation, healthcare, and information and electronics, Teijin Limited has recently announced the development of a new hard-coating technology. This new technology can be uniformly applied on the large or complex-shaped automotive windows, which are made of resins. With launch of this new technology, resins are likely to achieve the same level of abrasion resistance as glass windows and double the weather resistance of conventional plastics glazing. Teijin is anticipated to attain significant share of the market with this development due to growing trend of light weighting.
May 22, 2017- The U.S. based Duralar Technologies, which is a global nanotechnology company that engages in development of Duralar high-performance coatings and coating systems has just introduced their new ArmorLube coating. This new product provide both exceptional hardness and dry lubrication, which is designed to enhance the performance of vast range of metal products, automotive and oil & gas industry.
September 1, 2017- The U.S. based technology group, which engages in development of Duralar high-performance coatings and coating Duralar Technologies has entered into a distribution agreement with Phoenix-based Coating Technologies, Inc. (CTI). CTI is the Duralar’s newest authorized provider of Duralar coating services. CTI is Nadcap-accredited and have many years of experience with the most advanced materials and surface finishing technologies, which may enhance the professionalism in provision of Duralar coatings services.
February 8, 2018- Duralar Technologies, the U.S. based hard coatings system developer and supplier has just introduced the new Emperion system. This new system is dedicated for high-throughput deposition on the interior and exterior surfaces of metal parts.
- Hard coatings Manufacturers
- Traders and distributors of hard coatings
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory