The global hard coatings market size is projected to grow at a significant CAGR of around 8% during the forecast period 2021 to 2027. The growing healthcare industry in various developed and developing economies is a major factor to drive the market growth. Furthermore, the rising awareness regarding efficiency and benefits associated with hard coating is further expected to boost the market growth in next upcoming years. Moreover, the growing automotive industry and increasing focus on new product development are expected to create new opportunities for the market players in the near future years.
Market Drivers:
Increasing demand from various end-use industries: The hard coatings market caters to a wide range of industries, including automotive, aerospace, electronics, industrial machinery, healthcare, and others. These industries require protective coatings that offer enhanced hardness, wear resistance, scratch resistance, and durability. The increasing demand from these end-use industries drives the growth of the hard coatings market.
Growing emphasis on surface protection and performance enhancement: Surface protection and performance enhancement are critical requirements across industries. Hard coatings provide a protective barrier against wear, abrasion, corrosion, chemicals, and other damaging factors, thereby extending the lifespan and performance of components and equipment. The focus on surface protection and performance enhancement fuels the demand for hard coatings.
Advancements in coating technologies: Technological advancements have led to the development of advanced coating technologies that offer improved hardness, adhesion, and performance characteristics. Innovations such as physical vapor deposition (PVD), chemical vapor deposition (CVD), and plasma-enhanced deposition techniques have expanded the application possibilities of hard coatings. The continuous progress in coating technologies drives market growth.
Growing automotive and aerospace industries: The automotive and aerospace industries are major consumers of hard coatings. These industries require coatings that provide protection against wear, friction, and corrosion in engine components, transmission systems, bearings, gears, and other critical parts. The growth of the automotive and aerospace industries worldwide contributes significantly to the demand for hard coatings.
Increasing demand for electronic devices and components: The electronics industry is experiencing rapid growth, driven by the demand for smartphones, tablets, computers, wearable devices, and other electronic products. Hard coatings are used in electronic components and displays to enhance their scratch resistance, durability, and optical properties. The expanding electronics industry fuels the demand for hard coatings.
Rising focus on healthcare and medical devices: The healthcare industry demands coatings that offer biocompatibility, antimicrobial properties, and protection against wear and corrosion for medical devices and instruments. Hard coatings find applications in surgical instruments, orthopedic implants, dental tools, and diagnostic equipment. The increasing focus on healthcare and medical devices drives the growth of the hard coatings market.
Stringent environmental regulations and sustainability concerns: Environmental regulations and sustainability considerations are influencing coating choices. Hard coatings often provide environmentally friendly alternatives to traditional coatings containing harmful substances. The shift towards eco-friendly and sustainable coatings, driven by regulations and consumer preferences, contributes to the demand for hard coatings.
Growing awareness of cost savings and efficiency improvements: Hard coatings offer cost savings by increasing the lifespan and performance of components, reducing maintenance and replacement costs. They also improve efficiency by reducing friction, improving energy efficiency, and enhancing the overall performance of equipment and systems. The increasing awareness of cost savings and efficiency improvements drives the adoption of hard coatings.
Expansion of construction and infrastructure activities: The construction industry demands hard coatings for architectural and decorative applications as well as protective coatings for infrastructure, bridges, facades, and floors. The growth of construction and infrastructure activities globally supports the demand for hard coatings.
Research and development activities: Continuous research and development efforts in the field of coatings lead to the development of new hard coating formulations, surface treatments, and application techniques. Companies invest in R&D to enhance the hardness, adhesion, and functional properties of hard coatings. Innovations resulting from research and development activities drive market growth.
Market Snapshot:
| Benchmark Year | 2022 | ||
| Market Size | lock | ||
| Market Growth (CAGR) | ~ 8% (2023-2030) | ||
| Largest Market Share | North America | ||
| Analysis Period | 2020-2030 | ||
| Market Players | OC Oerlikon Management AG, CemeCon, IHI Ionbond AG, Sulzer Ltd., and IHI Hauzer BV |
Market Insights:
The global hard coating market is bifurcated into the material, technique, application, end-use industry, and geography. On the basis of material, the market is further segmented into borides, carbon-based, oxides, nitrides, carbides, and others. The borides segment dominated the global market in 2020 and is estimated to hold the largest revenue share of over one-third percent of the market by the end of the analysis period. The unique combination of properties of the material makes it useful for many industries which is a major factor to drive the segment growth.
On the basis of application, the market is segmented into cutting tools, decorative coatings, optics, gears and bearings, and others. The optics segment dominated the global hard coatings market in 2020 and is estimated to hold the largest revenue share of around one-third share of the market. The high demand for hard coatings from the optical industry is one of the major factor to drive the segment growth. On the flip side, the cutting tools segment is accounted to register the fastest growth rate over the forecast period.
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The hard coatings comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.
The hard coatings market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.
Historical & Forecast Period
- 2018-19 – Historical Year
- 2020 – Base Year
- 2021-2027 – Forecast Period
Market Segmentation:
By Material:
- Borides
- Carbon-based
- Oxides
- Nitrides
- Carbides
- Others
By Technique:
- Physical Vapor Deposition
- Chemical Vapor Deposition
By Application:
- Cutting Tools
- Decorative Coatings
- Optics
- Gears and Bearings
- Others
By End-Use Industry:
- Building and Construction
- General Manufacturing
- Automotive
- Transportation
- Industrial
- Other
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Geographic Coverage
Geographically, North America dominated the global hard coatings market in 2020 and accounted to hold the largest revenue share of around one-third percent of the market. The increasing demand for hard coatings from various end-use industries such as manufacturing, transportation, construction, and automotive is a major factor to drive the market growth in the region. The increasing construction activities are expected to fuel the market growth in North America. Furthermore, the increasing production and sale of commercial vehicles and cars, and the growing production of electrical vehicles are further anticipated to boost the market growth in North America.
Competitive Assessment
Some of the major market players operating in the global hard coatings market are OC Oerlikon Management AG, CemeCon, IHI Ionbond AG, Sulzer Ltd., and IHI Hauzer BV. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.
Key Companies:
- OC Oerlikon Management AG
- CemeCon
- IHI Ionbond AG
- Sulzer Ltd.
- IHI Hauzer BV
- Carl Zeiss AG
- ASB Industries, Inc.
- Exxene Corporation
- DhakeIndustries
- Gencoa Ltd.
Key Questions Answered by Hard Coatings Market Report
- Global hard coatings market forecasts from 2021-2027
- Regional hard coatings market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
- Country-level forecasts from 2021-2027 covering 15 major countries from the regions as mentioned above
- Hard coatings submarket forecasts from 2021-2027 cover the market by material, by technique, by application, by end-use industry, and geography
- Various industry models such as SWOT analysis, Value Chain Analysis about hard coatings market
- Analysis of the key factors driving and restraining the growth of the global, regional, and country-level hard coatings markets from 2021-2027
- Competitive Landscape and market positioning of top 10 players operating in the hard coatings market
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions
2. Executive Summary
2.1. Global Hard Coatings Market Portraiture
2.2. Global Hard Coatings Market, by Material, 2020 (USD Mn)
2.3. Global Hard Coatings Market, by Technique, 2020 (USD Mn)
2.4. Global Hard Coatings Market, by Application, 2020 (USD Mn)
2.5. Global Hard Coatings Market, by End-Use Industry, 2020 (USD Mn)
2.6. Global Hard Coatings Market, by Geography, 2020 (USD Mn)
3. Global Hard Coatings Market Analysis
3.1. Hard Coatings Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. COVID-19 Impact Analysis
4. Global Hard Coatings Market By Material, 2018 – 2027 (USD Mn)
4.1. Overview
4.2. Borides
4.3. Carbon-based
4.4. Oxides
4.5. Nitrides
4.6. Carbides
4.7. Others
5. Global Hard Coatings Market By Technique, 2018 – 2027 (USD Mn)
5.1. Overview
5.2. Physical Vapor Deposition
5.3. Chemical Vapor Deposition
6. Global Hard Coatings Market By Application, 2018 – 2027 (USD Mn)
6.1. Overview
6.2. Cutting Tools
6.3. Decorative Coatings
6.4. Optics
6.5. Gears and Bearings
6.6. Others
7. Global Hard Coatings Market By End-Use Industry, 2018 – 2027 (USD Mn)
7.1. Overview
7.2. Building and Construction
7.3. General Manufacturing
7.4. Automotive
7.5. Transportation
7.6. Industrial
7.7. Other
8. North America Hard Coatings Market Analysis and Forecast, 2018 – 2027 (USD Mn)
8.1.1. Overview
8.1.2. North America Hard Coatings Market by Material (2018-2027 USD Mn)
8.1.3. North America Hard Coatings Market by Technique (2018-2027 USD Mn)
8.1.4. North America Hard Coatings Market by Application (2018-2027 USD Mn)
8.1.5. North America Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
8.1.6. North America Hard Coatings Market by Country (2018-2027 USD Mn)
8.1.6.1. U.S.
8.1.6.1.1. U.S. Hard Coatings Market by Material (2018-2027 USD Mn)
8.1.6.1.2. U.S. Hard Coatings Market by Technique (2018-2027 USD Mn)
8.1.6.1.3. U.S. Hard Coatings Market by Application (2018-2027 USD Mn)
8.1.6.1.4. U.S. Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
8.1.6.2. Canada
8.1.6.2.1. Canada Hard Coatings Market by Material (2018-2027 USD Mn)
8.1.6.2.2. Canada Hard Coatings Market by Technique (2018-2027 USD Mn)
8.1.6.2.3. Canada Hard Coatings Market by Application (2018-2027 USD Mn)
8.1.6.2.4. Canada Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
9. Europe Hard Coatings Market Analysis and Forecast, 2018 – 2027 (USD Mn)
9.1.1. Overview
9.1.2. Europe Hard Coatings Market by Material (2018-2027 USD Mn)
9.1.3. Europe Hard Coatings Market by Technique (2018-2027 USD Mn)
9.1.4. Europe Hard Coatings Market by Application (2018-2027 USD Mn)
9.1.5. Europe Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
9.1.6. Europe Hard Coatings Market by Country (2018-2027 USD Mn)
9.1.6.1. Germany
9.1.6.1.1. Germany Hard Coatings Market by Material (2018-2027 USD Mn)
9.1.6.1.2. Germany Hard Coatings Market by Technique (2018-2027 USD Mn)
9.1.6.1.3. Germany Hard Coatings Market by Application (2018-2027 USD Mn)
9.1.6.1.4. Germany Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
9.1.6.2. U.K.
9.1.6.2.1. U.K. Hard Coatings Market by Material (2018-2027 USD Mn)
9.1.6.2.2. U.K. Hard Coatings Market by Technique (2018-2027 USD Mn)
9.1.6.2.3. U.K. Hard Coatings Market by Application (2018-2027 USD Mn)
9.1.6.2.4. U.K. Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
9.1.6.3. France
9.1.6.3.1. France Hard Coatings Market by Material (2018-2027 USD Mn)
9.1.6.3.2. France Hard Coatings Market by Technique (2018-2027 USD Mn)
9.1.6.3.3. France Hard Coatings Market by Application (2018-2027 USD Mn)
9.1.6.3.4. France Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
9.1.6.4. Italy
9.1.6.4.1. Italy Hard Coatings Market by Material (2018-2027 USD Mn)
9.1.6.4.2. Italy Hard Coatings Market by Technique (2018-2027 USD Mn)
9.1.6.4.3. Italy Hard Coatings Market by Application (2018-2027 USD Mn)
9.1.6.4.4. Italy Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
9.1.6.5. Rest of Europe
9.1.6.5.1. Rest of Europe Hard Coatings Market by Material (2018-2027 USD Mn)
9.1.6.5.2. Rest of Europe Hard Coatings Market by Technique (2018-2027 USD Mn)
9.1.6.5.3. Rest of Europe Hard Coatings Market by Application (2018-2027 USD Mn)
9.1.6.5.4. Rest of Europe Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
10. Asia Pacific Hard Coatings Market Analysis and Forecast, 2018 – 2027 (USD Mn)
10.1.1. Overview
10.1.2. Asia Pacific Hard Coatings Market by Material (2018-2027 USD Mn)
10.1.3. Asia Pacific Hard Coatings Market by Technique (2018-2027 USD Mn)
10.1.4. Asia Pacific Hard Coatings Market by Application (2018-2027 USD Mn)
10.1.5. Asia Pacific Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
10.1.6. Asia Pacific Hard Coatings Market by Country (2018-2027 USD Mn)
10.1.6.1. China
10.1.6.1.1. China Hard Coatings Market by Material (2018-2027 USD Mn)
10.1.6.1.2. China Hard Coatings Market by Technique (2018-2027 USD Mn)
10.1.6.1.3. China Hard Coatings Market by Application (2018-2027 USD Mn)
10.1.6.1.4. China Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
10.1.6.2. Japan
10.1.6.2.1. Japan Hard Coatings Market by Material (2018-2027 USD Mn)
10.1.6.2.2. Japan Hard Coatings Market by Technique (2018-2027 USD Mn)
10.1.6.2.3. Japan Hard Coatings Market by Application (2018-2027 USD Mn)
10.1.6.2.4. Japan Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
10.1.6.3. Rest of Asia Pacific
10.1.6.3.1. Rest of Asia Pacific Hard Coatings Market by Material (2018-2027 USD Mn)
10.1.6.3.2. Rest of Asia Pacific Hard Coatings Market by Technique (2018-2027 USD Mn)
10.1.6.3.3. Rest of Asia Pacific Hard Coatings Market by Application (2018-2027 USD Mn)
10.1.6.3.4. Rest of Asia Pacific Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
11. Latin America (LATAM) Hard Coatings Market Analysis and Forecast, 2018 – 2027 (USD Mn)
11.1.1. Overview
11.1.2. Latin America Hard Coatings Market by Material (2018-2027 USD Mn)
11.1.3. Latin America Hard Coatings Market by Technique (2018-2027 USD Mn)
11.1.4. Latin America Hard Coatings Market by Application (2018-2027 USD Mn)
11.1.5. Latin America Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
11.1.6. Latin America Hard Coatings Market by Country (2018-2027 USD Mn)
11.1.6.1. Brazil
11.1.6.1.1. Brazil Hard Coatings Market by Material (2018-2027 USD Mn)
11.1.6.1.2. Brazil Hard Coatings Market by Technique (2018-2027 USD Mn)
11.1.6.1.3. Brazil Hard Coatings Market by Application (2018-2027 USD Mn)
11.1.6.1.4. Brazil Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
11.1.6.2. Mexico
11.1.6.2.1. Mexico Hard Coatings Market by Material (2018-2027 USD Mn)
11.1.6.2.2. Mexico Hard Coatings Market by Technique (2018-2027 USD Mn)
11.1.6.2.3. Mexico Hard Coatings Market by Application (2018-2027 USD Mn)
11.1.6.2.4. Mexico Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
11.1.6.3. Rest of Latin America
11.1.6.3.1. Rest of Latin America Hard Coatings Market by Material (2018-2027 USD Mn)
11.1.6.3.2. Rest of Latin America Hard Coatings Market by Technique (2018-2027 USD Mn)
11.1.6.3.3. Rest of Latin America Hard Coatings Market by Application (2018-2027 USD Mn)
11.1.6.3.4. Rest of Latin America Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
12. Middle East and Africa Hard Coatings Market Analysis and Forecast, 2018 – 2027 (USD Mn)
12.1.1. Overview
12.1.2. MEA Hard Coatings Market by Material (2018-2027 USD Mn)
12.1.3. MEA Hard Coatings Market by Technique (2018-2027 USD Mn)
12.1.4. MEA Hard Coatings Market by Application (2018-2027 USD Mn)
12.1.5. MEA Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
12.1.6. Middle East and Africa Hard Coatings Market, by Country (2018-2027 USD Mn)
12.1.6.1. GCC
12.1.6.1.1. GCC Hard Coatings Market by Material (2018-2027 USD Mn)
12.1.6.1.2. GCC Hard Coatings Market by Technique (2018-2027 USD Mn)
12.1.6.1.3. GCC Hard Coatings Market by Application (2018-2027 USD Mn)
12.1.6.1.4. GCC Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
12.1.6.2. South Africa
12.1.6.2.1. South Africa Hard Coatings Market by Material (2018-2027 USD Mn)
12.1.6.2.2. South Africa Hard Coatings Market by Technique (2018-2027 USD Mn)
12.1.6.2.3. South Africa Hard Coatings Market by Application (2018-2027 USD Mn)
12.1.6.2.4. South Africa Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
12.1.6.3. Rest of MEA
12.1.6.3.1. Rest of MEA Hard Coatings Market by Material (2018-2027 USD Mn)
12.1.6.3.2. Rest of MEA Hard Coatings Market by Technique (2018-2027 USD Mn)
12.1.6.3.3. Rest of MEA Hard Coatings Market by Application (2018-2027 USD Mn)
12.1.6.3.4. Rest of MEA Hard Coatings Market by End-Use Industry (2018-2027 USD Mn)
13. Company Profiles
13.1. OC Oerlikon Management AG
13.1.1. Business Description
13.1.2. Financial Health and Budget Allocation
13.1.3. Product Positions/Portfolio
13.1.4. Recent Development
13.1.5. SWOT Analysis
13.2. CemeCon
13.2.1. Business Description
13.2.2. Financial Health and Budget Allocation
13.2.3. Product Positions/Portfolio
13.2.4. Recent Development
13.2.5. SWOT Analysis
13.3. IHI Ionbond AG
13.3.1. Business Description
13.3.2. Financial Health and Budget Allocation
13.3.3. Product Positions/Portfolio
13.3.4. Recent Development
13.3.5. SWOT Analysis
13.4. Sulzer Ltd.
13.4.1. Business Description
13.4.2. Financial Health and Budget Allocation
13.4.3. Product Positions/Portfolio
13.4.4. Recent Development
13.4.5. SWOT Analysis
13.5. IHI Hauzer BV
13.5.1. Business Description
13.5.2. Financial Health and Budget Allocation
13.5.3. Product Positions/Portfolio
13.5.4. Recent Development
13.5.5. SWOT Analysis
13.6. Carl Zeiss AG
13.6.1. Business Description
13.6.2. Financial Health and Budget Allocation
13.6.3. Product Positions/Portfolio
13.6.4. Recent Development
13.6.5. SWOT Analysis
13.7. ASB Industries, Inc.
13.7.1. Business Description
13.7.2. Financial Health and Budget Allocation
13.7.3. Product Positions/Portfolio
13.7.4. Recent Development
13.7.5. SWOT Analysis
13.8. Exxene Corporation
13.8.1. Business Description
13.8.2. Financial Health and Budget Allocation
13.8.3. Product Positions/Portfolio
13.8.4. Recent Development
13.8.5. SWOT Analysis
13.9. DhakeIndustries
13.9.1. Business Description
13.9.2. Financial Health and Budget Allocation
13.9.3. Product Positions/Portfolio
13.9.4. Recent Development
13.9.5. SWOT Analysis
13.10. Gencoa Ltd.
13.10.1. Business Description
13.10.2. Financial Health and Budget Allocation
13.10.3. Product Positions/Portfolio
13.10.4. Recent Development
13.10.5. SWOT Analysis
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