Global hard coatings market is expected to register significant growth during the forecast period, led by the growing awareness about the benefits of hard coatings and their efficiency and low maintenance cost properties.
Insights into market segments
On the basis of material type, the hard coatings market is categorized into nitrides, oxides, carbides, carbon-based, borides, and multi-component coatings. Borides was the largest material type in the market in 2017. The largest share of the material type is owing to its superior properties, over others, such as high melting points, great hardness, good electrical, and thermal conductivity. These properties of the type is increasing its demand from various industries such as automotive, construction, sports, medical and home care. This is further expected to boost the market growth.
Based on deposition technique, the hard coatings market is bifurcated into physical vapor disposition (PVD) and chemical vapor disposition (CVD). During the forecast period, CVD is expected to be the fastest growing category in the market. The CVD technique for these coatings provide high purity, fine grained, cost-effectiveness, durability, and impervious bulk materials that has applications in various industries. PVD is the largest category in the market owing to its high demand from the automotive, aerospace & defense and heavy engineering industries.
Browse report overview with detailed TOC on "Global Hard Coatings Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insights by Material Type (Nitrides, Oxides, Carbides, Carbon-Based, Borides, Multi-Component Coatings), Application (Cutting Tools, Decorative Coatings, Optics, Gears, Bearings, Cams, Cylinder, Hydraulic/Pneumatic Components and Others), Deposition Technique (PVD and CVD), End-Use Industry (General Manufacturing, Transportation, Building and Architecture, Medical Equipment, Food Manufacturing Equipment, Sporting Goods and Others)" at:https://www.psmarketresearch.com/market-analysis/hard-coatings-market
In terms of end user, the market is categorized into general manufacturing, transportation, buildings and architecture, medical/dental equipment, food manufacturing/preparation equipment, sporting goods, and others. Based on application, the hard coatings market is classified into cutting tools, decorative coatings, optics, gears, bearings, cams, cylinders, hydraulic/pneumatic components, and others. Others include firearms, implants, and injection molding dyes.
APAC to lead the global hard coatings market in coming years
APAC is expected to witness remarkable growth in the global hard coatings market. China and Japan are the largest consumers of these coatings in the region. Applications such as cutting tools and decorative coatings represent the bulk of the demand for these coatings in the APAC. Additionally, rising awareness about the benefits of these coatings has increased its importance as well as demand in countries such as China, Japan, and South Korea.
Increase in demand for hard coatings from various industries to serve as lucrative market opportunity
The rise in awareness regarding the benefits of hard coatings has led to its increased usage in a wide range of industries, such as automotive, general manufacturing, and construction. These coatings are mainly used in the automotive and construction industries for wear protection of machine components. It also finds application in general manufacturing industry owing to its greater functionality, durability, increased energy efficiency, and ability of reducing the fuel consumption as well as lubricant requirements. Hence, such increase in adoption of these coatings from various industries is expected to provide lucrative opportunities to the players in hard coatings market.
Hard coatings market competitive landscape
Some of the major players operating in the global hard coatings market are IHI Ionbond AG, CemeCon AG Germany, Momentive Performance Materials Inc., Sulzer Ltd., IHI Hauzer Techno Coating B.V, Duralar Technologies, MBI Coatings, Platit AG, Exxene Corporation and ASB Industries, Inc.
GLOBAL HARD COATINGS MARKET SEGMENTATION
By Material Type
By Deposition Technique
By End User