Aero-engines or automotive vehicle parts usually operate at elevated temperatures, hence they require exhaust heat management. High-performance ceramic coatings once applied on aerospace and vehicle parts insulate the components from prolonged heat load. In doing so the coatings deliver higher operating temperatures and at the same time limit the thermal exposure of structural components. A new report by Transparency Market Research, titled “High-performance Ceramic Coatings Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020” studies the global high performance ceramic coatings market in terms of the key end-use industries, diverse coating technologies, and regional markets.
According to the report, the global high-performance ceramic coatings market, which stood at US$5.68 bn in 2013, is expected to reach US$9.07 bn, exhibiting a CAGR of 7.0% between 2014 and 2020.High-performance ceramic coatings offer excellent thermal protection and resistance from corrosion and early depreciation, hence they are applied on turbine blades, engine components, vanes, and other vehicle equipment to provide protection against heat and corrosion. “The semiconductor industry has emerged as one of the biggest end users of ceramic coatings in recent years,” said a TMR analyst. “The rapid expansion of the semiconductor industry will subsequently augment the demand for high performance ceramic coatings”.
Among the key end-use industries, the automotive industry has been dominating the global high performance ceramic coatings market for the last few years. Ceramic coatings are usually applied on components such as pistons, valves, combustion chambers, and exhaust tailpipes of any vehicle. In 2013, the automotive industry held over 20% of the global high-performance ceramics coatings market.
Among the various technologies in use, the thermal spray coatings segment led the market in 2013. Accounting for nearly 16% of the high-performance ceramics coatings market based on technology, chemical vapor deposition (CVD) emerged as the second largest segment in 2013. However, during the report’s forecast period, the segment is likely to exhibit the fastest growth.
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Regionally, North America led the global market for high-performance ceramic coatings, accounting for over 34% of the global market in 2013. Europe has emerged as the second largest market in the same year. Both these regions have well developed aviation and automotive industries, which result in high demand for high-performance ceramic coatings and thus, their dominance globally.
Despite exhibiting strong growth potentials, the market however is likely to suffer from the lack of skilled labor. The high cost of these products and other related technology issues are also anticipated limit the market’s growth to an extent.The report presents a 360 degree overview of the opportunities the market will witness in the near future, which it can capitalize on to mitigate the aforementioned issues.
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