The global Hard Coatings Market is expected to witness a significant growth during the forecast period (2017-2023). The growing demand from the automotive and healthcare sectors is the key driver for the global market. Borides are expected to be the largest material type segment in the global market during the forecast period.
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Hard coatings Market find applications in cutting tools, decorative coatings, optics, gears, bearings, cams, cylinders, hydraulic and pneumatic components, injection moulding dies, implants and firearms. The hard coatings process is mainly performed in two ways: physical vapor deposition (PVD) and chemical vapor deposition (CVD).
The global market for hard coatings is expected to gain traction in Asia-Pacific region owing to the increased demand for decorative coatings and cutting tools. Cutting tools is the fastest growing application segment in India, China and Malaysia.
The key restraints hampering the growth of the global hard coatings market are high total cost of ownership and high capital investment market. Additionally, developments of cost effective substitutes are expected to pose challenges for the growth of the global market.
The rising awareness towards the benefits of hard coatings has led to the usage of such coatings in a varied range of end-user industries such as automotive, general manufacturing and construction. Hard coatings are used for wear protection of machine components.
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The major companies operating in the global market include IHI Ionbond AG, CemeCon AG Germany, Momentive Performance Materials Inc., Sulzer Ltd., IHI Hauzer Techno Coating B.V, Duralar Technologies, MBI Coatings, Platit AG, Exxene Corporation and ASB Industries, Inc.
Market Segmentation
By material type
- Nitrides
- Oxides
- Carbides
- Carbon-based
- Borides
- Multi-component coatings
- Physical vapor disposition
- Chemical vapor disposition
- General manufacturing
- Transportation
- Buildings and architecture
- Medical/dental equipment
- Food manufacturing/preparation equipment
- Sporting goods
- Others
- Cutting tools
- Decorative coatings
- Optics
- Gears
- Bearings
- Cams
- Cylinders
- Hydraulic/pneumatic components
- Others
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