Transparency Market Research has published a new report titled "High-performance Ceramic Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020." According to the report, the global high-performance ceramic coatings market was valued at $5.68 billion in 2013 and is anticipated to reach USD 9.07 billion in 2020, expanding at a CAGR of 7.0% between 2014 and 2020.
The market for high-performance ceramic coatings is driven by need for superior thermal protection for aircraft engines and automotive components. These coatings offer wear, corrosion and thermal resistance to engine components, equipment, turbine blades and vanes. Thermal spray coating is one of the key technologies in the high-performance ceramic coatings market. Increasing demand for high-performance ceramic coatings in the semi-conductor industry is likely to provide higher opportunities for the market over the next few years. However, high cost of high-performance ceramic coatings, lack of skilled labor and technology issues are anticipated to hamper market growth in the near future.
Thermal spray coatings dominated the technology segment for high-performance ceramic coatings in 2013. Chemical vapor deposition (CVD) accounted for the second-largest market share of about 16% in the high-performance ceramic coatings market in 2013. However, physical vapor deposition is expected to be the fastest growing technology in the high-performance ceramic coatings market during the forecast period.
Automotive has been the largest and one of the fastest growing end-users for high-performance ceramic coatings over the past few years. These coatings are applied on engine components such as combustion chambers, pistons, valves and exhaust tailpipes. Aviation accounted for over 20% of the global high-performance ceramic coatings market in 2013. Increasing demand for superior thermal protective engines has been a key factor for the growth of the high-performance ceramic coatings market in the aviation industry.
North America dominated the market for high-performance ceramic coatings in 2013, accounting for approximately 34% of the global demand. The region is expected to exhibit higher growth for the high-performance ceramic coatings market during the forecast period. North America was closely followed by Europe, which is estimated to be one of the major markets for high-performance ceramic coatings during the forecast period. Asia Pacific is anticipated to be one of the fastest growing regions for high-performance ceramic coatings in the next few years. Rest of the World accounted for the least market share in the global high-performance ceramic coatings market in 2013.
The report provides a comprehensive view of the high-performance ceramic coatings market in terms of revenue. Additionally, the report includes current demand analysis and forecast for technology and end-users in North America, Europe, Asia Pacific and Rest of the World.