Technavio, a tech-focused market research firm, has published a new report on the global ceramic coatings market, which is expected to experience a steady growth rate with a CAGR of close to 8% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global ceramic coatings market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global ceramic coatings market into the following key regions: Americas, EMEA, and APAC.
Geographical segmentation of the global ceramic coatings market for 2015 (market share %)
|
Americas |
37.17% |
|
EMEA |
33.49% |
|
APAC |
29.34% |
Source: Technavio
The Americas: largest revenue generating region for ceramic coatings
The Americas accounted more than 37% of the global market during 2015 to become the largest revenue generating region of the global market. The market for ceramic coatings in North America is driven primarily by the US. The economic development across countries such as Mexico and Brazil is expected to drive the ceramic coatings market in South America. Increased investment and interest in nanotechnology are expected propel the growth of the ceramic coatings market in the Americas during the forecast period.
According to ChandraKumar BJ, a lead analyst at Technavio for paints, coatings, and pigments, “The market is currently witnessing a rise in the use of plasma-sprayed ceramic coatings, especially for coating semiconductors and flat panel display (FPD) equipment. Ceramic coatings on the inside of the equipment chamber walls provide high erosion resistance. The use of plasma-sprayed ceramic coating also enhances the durability and makes the equipment lighter. The ongoing rise in the demand for plasma-sprayed ceramic coatings is a major trend influencing massive growth in the ceramic coatings market.”
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Ceramic coatings market in EMEA
The market for ceramic coatings in EMEA is primarily driven by the Western European countries, especially Germany, which is one of the largest user of the thermal spray coating technique. In Eastern Europe, improving economies coupled with higher income levels are contributing to the growth of the market. The presence of big automotive companies such as BMW, Audi, Volkswagen, Mercedes, and Ferrari in the region is also an incentive for this market’s growth. Furthermore, the demand from major aircraft manufacturer, Airbus, and defense equipment manufacturer, MBDA, both of which have roots in Europe, is also contributing to the growth of the ceramic coatings market in EMEA. Factors such as the demand for ceramic-coated equipment from oil and petrochemical companies in the Middle East and economic development activities in Africa will also play a vital role in the growth of the market.
Ceramic coatings market in APAC
The ceramic coatings market in APAC accounted for more than 29% of the global market during 2015. The market in this region is projected to experience rapid growth owing to the increased outsourcing of manufacturing activities in this region. Flourishing automotive markets in China and Japan play an important role in the growth of the ceramic coatings market as these coatings are widely used in vehicle components to provide heat, wear, tear, and corrosion resistance. The rise in population, high levels of disposable income, and growing economies in this region are augmenting the demand for ceramic coatings in different metal components to enhance their functional properties in various end-user industries, leading to the growth of the ceramic coatings market in APAC.
The leading vendors operating in the global ceramic coatings market are:
- APS Materials
- Bodycote
- Praxair Surface Technologies
- Cetek
- Keronite
Other prominent vendors in the market include Zircotec, Camcoat Performance Coatings, and Advanced Ceramic Coating.
A more detailed analysis is available in the Technavio report tilted, ‘Global Ceramic Coatings Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Glass Ceramics Market 2016-2020
- Global Technical Ceramics Market 2016-2020
- Global Ceramic Coatings Thermal Spray Market 2015-2019
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