North American Market for High-Performance Ceramic Coatings to Reach $2.4 Billion by 2023

November 26, 2018

WELLESLEY, Mass., Nov.26, 2018 – Due to assisting with corrosion, erosion and high temperature-resistant applications, the North American market for high-performance ceramic coatings is expected to experience sustained growth over the next five years, according to a new report from BCC Research.

In 2018, the North American market for high-performance ceramic coatings was worth $1.5 billion. BCC Research estimates that it will reach a value of $2.4 billion by 2023, indicating a compound annual growth rate (CAGR) of 9.2%, according to High-Performance Ceramic Coatings: North American Markets and Technologies.

The availability and commercialization of high-performance coatings have already changed the internal specification patterns of certain industries, such as cutting tool inserts. The useful life of coated inserts is many times longer than the life of uncoated inserts. This, in turn, has reduced the cost of cutting tool inserts, while increasing productivity.

Research Highlights

• Thermal spray coatings dominate the market with 51.8% of total revenues in 2017 and are projected to increase to 56.3% by 2023.
• Physical vapor deposition (PVD) accounted for the second-largest share of the market with 20.4% in 2017 which is expected to decrease slightly to 19.2% by 2023.
• The availability of these new coating technologies is broadening the range of potential ceramic coating applications and substrate materials, including fiber reinforced polymeric (FRP) composite components, such as aircraft parts, rolls for the printing and textile industries, high-pressure hydraulic cylinders and camshafts.

“The promise of performance improvement is the main force driving the continued development and commercialization of high-performance ceramic coatings,” said report author Andrew McWilliams. “These coatings are typically applied to cast iron, steel, super alloys, titanium alloys, tungsten carbides, carbon/carbon composites and even ceramics. Use of ceramic coatings enables metals to be used for several applications for which they would otherwise be unsuitable.”

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

High-performance Ceramic Coatings: North American Markets and Technologies( AVM015J )
Publish Date: Nov 2018    

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