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.
“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.”
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High-performance Ceramic Coatings: North American Markets and Technologies( AVM015J )
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