Hard Coatings Market: COVID-19 Impact and Global Analysis Forecast to 2028

Hard coating materials can be feasibly deposited along various deposition procedures such as PVD and CVD. PVD is considered to be one of the most broadly employed procedure across numerous industries. The global cutting tools industry was one of the first industries to adopt the PVD technique and is anticipated to continue adopting the same technology and the significant application of PVD technology in order to achieve replacement in the traditional deposition procedures. Major factors which are supporting the increasing demand for the above mentioned procedures involve relatively greater durability and less time intensity. In addition to this, several major end use applications of the aforementioned techniques are precision aerospace parts, automotive, medical instruments and industrial gas turbines among others.

Increasing awareness across customers related to the key benefits about hard coatings is one of the major factors driving the demand for hard coatings around the world. However, deposition procedures for the application of hard coatings involve relatively greater investments and are usually capital intensive in nature. Such factors are considered to be some of the major restraining forces in the global hard coatings market. In addition to this, rising adoption of hard coatings especially in general manufacturing and other such related end user industries where the demand for high performances materials are high the large scale hard coating procedures are expected to bring opportunistic benefits over the forecast period.

The global hard coatings market can be divided based on deposition technique, material type, application, end-use industry and geography. Based on material type, the market can be divided into Oxides, Nitrides, Carbon-Based, Carbides, Multi-Component Coatings and Biorides. Based on deposition technique, the market can be divided into CVD and PVD. Based on end-use industry, global hard coatings market can be divided into transportation, general manufacturing, marine, automotive, railroad, aerospace, medical/dental equipment, sporting goods , buildings & architecture, food manufacturing/preparation equipment and others including nuclear plants, textile and defense/military etc. Based on application, global hard coatings market can be divided into decorative coatings, cutting tools, gears, optics, cams, bearings, hydraulic/pneumatic components, cylinders and others including implants, firearms and injection molding dies etc. Based on geography, the global hard coatings market can be divided into North America, Latin America, Europe, Middle East & Africa and Asia-Pacific. The robust demand especially in the Asia Pacific region is anticipated to be one of the key driving factors for the overall growth of the global market. Moreover, China is further projected to account for the highest share in the global market and is anticipated to maintain its lead in the overall demand during the forecast period. This can be attributed to rapid industrialization and increasing urbanization during the past few years. The markets in various other developing economies such as Russia, Brazil, Indonesia, Poland, Argentina, New Zealand, Korea and India among others are also expected to witness a rapid growth throughout the forecast period. In addition to this, rising per capita disposable income and surge in the global economy is another key factor which is expected.

Key players operating in the global market are concentrating on some of the major market strategies such as mergers, partnerships, collaborations and acquisitions in order to keep hold in the ever competitive global market. Furthermore, they are focusing on gaining hold on the local players to strengthen their goodwill as well as to enhance their market reach in the global market. Some of the major players in the global hard coatings market include Ceme Con, OC Oerlikon Corporation AG, Sulzer Ltd., HI Ionbond AG, Zeiss Group, IHI Hauzer Techno Coating B.V., SDC Technologies, Inc., Momentive Performance Materials, Inc., Kobelco,Duralar Technologies, ASB Industries, Inc., Ultra Optics, MBI Coatings, DIARC-Technology Oy,Platit AG, Dhake Industries, Inc., Hard Coatings and The Eifeler Group,Exxene Corporation among others.
The hard coatings market is segmented as follows:
On the basis of Material Type:
Nitrides
Oxides
Carbides
Carbon-Based
Borides
Multi-Component Coatings

On the basis of Deposition Technique:
PVD
CVD

On the basis of End-Use Industry:
General Manufacturing
Transportation
Automotive
Marine
Aerospace
Railroad
Buildings & Architecture
Medical/Dental Equipment
Food Manufacturing/Preparation Equipment
Sporting Goods
Others
Textile
Nuclear Plants
Defense/Military
On the basis of Application:
Cutting Tools
Decorative Coatings
Optics
Gears
Bearings
Cams
Cylinders
Hydraulic/Pneumatic Components
Others
Firearms
Implants
Injection Molding Dies

On the basis of Region:
Asia-Pacific
North America
Western Europe
Central & Eastern Europe
Middle East & Africa
South America