New Coating Technologies and Materials Help Drive Growth in High-Performance Ceramics Markets
High-performance ceramic coatings constitute a mature but still expanding industry with a broad list of current and potential applications, continuously emerging coating techniques, and a growing list of material compositions, according to a recent report from BBC Research. Ceramic coatings constitute a large family of materials with diverse compositions and properties, including compositions based on alumina, alumina-magnesia, chromia, hafnia, silica, silicon carbide, titania and zirconia. Ceramic coatings generally are applied to metal or metallic alloy components, as well as to ceramic components.
The North American market for high-performance ceramic coatings totaled nearly $1.3 billion in 2015 and should reach $1.9 billion in 2020, reflecting a five-year compound annual growth rate (CAGR) of 7.8%. Thermal spray coatings, the fastest-growing segment with a five-year CAGR of 8.6%, should grow from $695.4 million in 2015 to $1 billion in 2020. Physical vapor deposition (PVD) as a segment should grow from $260.4 million in 2015 to $377.1 million in 2020, with a five-year CAGR of 7.7%.
Thermal spray coatings, which captured 53.1% of the 2014 market, should increase market share dominance to 55.2% by 2020. Physical vapor deposition (PVD) accounted for the second-largest share of the market (19.9%), which could decrease slightly to 19.8% by 2020. Meanwhile, the share of chemical vapor deposition (CVD) is projected to decrease to 16.2% from 19.4% during the same period. Other coating technologies (e.g., spraying/dipping, sol-gel and micro-oxidation techniques) are predicted to gain in market share, to 8.8% in 2020 from 7.6% in 2014.
“The promise of performance improvement is the main force driving the continued development and commercialization of high-performance ceramic coatings,” said Andrew McWilliams, analyst. “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.”
For more information, visit www.bccresearch.com.