TAGS: Automotive Coatings Industrial Coatings
The global ceramic coating market is expected to reach USD 19.19 billion by 2030, expanding at a compound annual growth rate (CAGR) of 7.8%, according to a new report by Grand View Research, Inc.
Rising Demand in Automotive Industry
This is due to the increasing utilization of automobile engine components and the aerospace & defense industry, which is projected to propel the market growth during the forecast period.
Furthermore, ceramic coatings are being extensively used in the automobile and transportation industry, owing to their anti-corrosion properties and offering
resistance to abrasion and heat.
Ceramic coatings are also used for providing a finished polish look on the exterior body of cars slowly replacing wax.
With growing research and development activities, ceramic coatings are venturing into wider application segments. Currently, automobiles and transportation are expected to be the largest application for ceramic coatings. However, with further product innovations, ceramic coating is likely to have a larger application share than its counterparts, such as PTFE or regular coatings.
Source: GVR