Hard Coatings Market Research Report Forecast till 2030

Global hard coatings market by material type (borides, nitrides), deposition technique (PVD, CVD), applications (cutting tools, decorative coatings), end-use industry (general manufacturing, transportation, aerospace & defense,) and region- Forecast till 2030

ID: MRFR/CnM/3991-HCR | February 2021 | Region: Global | 140 Pages         

Hard Coating Market

Hard Coating Market is projected to be worth USD 1,481.02 million by 2030, registering a CAGR of 8.10% during the forecast period (2021 - 2030).

Segmentation

By Material Type Borides Nitrides
By Deposition Technique Pvd Cvd
By Applications Cutting Tools Decorative Coatings
By End-Use Industry General Manufacturing Transportation Aerospace & Defense

Key Players

  • Sulzer Ltd. (Switzerland)
  • OC Oerlikon Corporation AG (Switzerland)
  • CemeCon AG (Germany)
  • IHI Ionbond AG (Switzerland)
  • Momentive (U.S.)
  • ZEISS International (Germany)
  • ASB Industries Inc. (the U.S)
  • SDC Technologies (the U.S.)
  • PLATIT AG All (Switzerland)
  • Hardcoatings Inc. (U.S.)

Drivers

  • In the automotive industry
  • there is an increasing demand for lightweight vehicles with attractive shine
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Hard coating, also known as hard coat anodizing or hard anodizing, is an electrochemical coating technique. This process involves anodization of sulfuric acid by using an electrolyte concentration, varying temperature, and electric current, which results in the hardened surface. The hard coatings find their uses in numerous applications starting from industrial coatings, tools, equipment, ball bearings, gear and pneumatic components to medical tools and equipment. Apart from this, they are used in lenses coatings to make them scratch resistant and improve their durability. These types of coatings confer some important properties to the substrate material such as resistant to corrosion, wear & tear, heat, and electricity. Additionally, hard coatings offer low friction coefficient after lubrication. On account of these characteristic features of the product, the global hard coatings market is likely to register robust growth in the coming years.


The global protective coatings market is growing at a 6.90% CAGR and is expected to reach nearly USD 23 billion by the end of 2030. This, in turn, is expected to fuel the demand for hard coatings during the review period. In the automotive industry, there is an increasing demand for lightweight vehicles with attractive shine with the added durability of metal components, which is expected to fuel demand for the hard coatings in coming years. The hard coatings account for approximately a quarter share of the overall industrial coatings and it is likely to have its share continuously rising over the forecast period. The scope of applications in the global hard coatings market is continuously increasing with the flourishing end-use industries such as building & construction, marine, aerospace & defense, along with the automotive industry.  Need for the protective coatings on tools, equipment, and end decorative parts in building & construction industry is posing as a major demand driver in the market. Moreover, there is an increasing use of hard coatings in various industrial applications in order to protect machinery and equipment, which function in the harsh environment. This, in turn, is anticipated to propel the growth of the market in the coming years. However, the capital-intensive nature of the processes involved in this market is projected to hamper the growth during the period under consideration.


Global hard coatings market share, by end-use industry 2016 (%)


 hard coatings market


Source: MRFR Analysis


Regional Analysis:


Geographically, there are five key regions in which the global hard coatings market is spanned across the Asia Pacific, North America, Europe Latin America, and Middle East & Africa. Among these regions, Asia Pacific is the largest market owing to the big lead achieved by the region in industrialization along with increasing government funding in the areas of infrastructure, marine and aerospace & defense. India, Japan, and China are the major markets in this region on accounts of increasing public as well as private investment in the major end-user industries of hard coatings. North America is following the Asia Pacific in terms of market size in the global hard coatings market. The U.S is the largest markets in this region owing to the steady rise in the use of hard coatings materials, mainly in aerospace & defense and marine sector. This is expected to favor the growth of the region during the forecast period. Europe is another substantial region in the global hard coatings market, which is closely following North America. Major contributors to the regional market are the U.K, France, Germany, Italy, and Poland. Europe has become a prominent market for hard coatings, wherein it is majorly used in the automotive and general industrial applications. In coming years the Middle East & Africa are likely to contribute significantly towards the growth of the market owing to increasing demand from building and construction industry. Lastly, Latin America is witnessing a steady growth due to the presence of end-use industries in countries namely Brazil and Argentina. The pacifying economic and political scenario in the region would push the regional market growth forward.


Segmentation:


The global hard coatings market is segmented on the basis of material type, a deposition technique, application, end use industry, and region.


Based on the material type, the market is divided into borides, nitrides, carbon-based, oxides, multi-component coatings, and others.


By deposition technique, the market is classified into physical vapor deposition (PVD) and chemical vapor deposition (CVD).


On the basis of the application the global hard coatings market is categorized into cutting tools, decorative coatings, gears, bearings, optics, cylinders, pneumatic coatings, and others.


Lastly based on end-use industry, the global hard coatings market is segmented into general manufacturing, transportation, building & construction, aerospace & defense, medical, sports, food manufacturing equipment, and others.


Regionally, the global hard coatings market is divided into the Asia Pacific, North America, Europe, Middle East & Africa, and Latin America.


Key Players:


The prominent players in the global hard coatings market are, Sulzer Ltd. (Switzerland), OC Oerlikon Corporation AG (Switzerland), CemeCon AG (Germany), IHI Ionbond AG (Switzerland), Momentive (U.S.), ZEISS International (Germany), ASB Industries, Inc. (the U.S), SDC Technologies (the U.S.), PLATIT AG All (Switzerland), and Hardcoatings, Inc. (U.S.), among others.


Intended Audience:



  • Hard coatings Manufacturers

  • Traders and distributors of hard coatings

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratory



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant value
  CAGR   (2020-2030) : 6.90% CAGR
  Base Year   2021
  Forecast Period   2020 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Material Type, Application, End-Use Industry and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Sulzer Ltd. (Switzerland), OC Oerlikon Corporation AG (Switzerland), CemeCon AG (Germany), IHI Ionbond AG (Switzerland), Momentive (U.S.), ZEISS International (Germany), ASB Industries, Inc. (the U.S), SDC Technologies (the U.S.), PLATIT AG All (Switzerland), and Hardcoatings, Inc. (U.S.), among others.
  Key Market Opportunities   The scope of applications in the global hard coatings market is continuously increasing with the flourishing end-use industries
  Key Market Drivers   In the automotive industry, there is an increasing demand for lightweight vehicles with attractive shine


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Frequently Asked Questions (FAQ) :

The hard coatings market can grow up to a valuation of USD 23 billion by 2030.

The global hard coatings market to get dominated by Asia Pacific region.

Players like OC Oerlikon Corporation AG (Switzerland), Sulzer Ltd. (Switzerland), PLATIT AG All (Switzerland), Momentive (U.S.), ZEISS International (Germany), CemeCon AG (Germany), IHI Ionbond AG (Switzerland), SDC Technologies (the U.S.), ASB Industries, Inc. (the U.S), and Hardcoatings, Inc. (U.S.) can make an impact on the hard coatings market.

Mergers, collaborations, product launch, innovation, hike in R&D spending, marketing strategies, brand positioning are some of the prominent strategies that the hard coatings market players would employ.

The hard coatings market is expecting growth with increasing application in ball bearings, tools, equipment, industrial coatings, gear and pneumatic components, which would ensure easy permeation across several industries.