Decline in Automotive Sector Due To Covid-19 Pandemic Limits Growth of High-Performance Ceramic Coatings Market

The global high-performance ceramic coatings industry is anticipated to experience profitable growth over the next eight years due to the ever-growing application in automotive, electronics, aerospace, and consumer products. Ceramic coatings are organic compounds that are applied and treated at very high temperatures with an emphasis on the formation of heat resistance. Industrial coatings such as those that offer heat resistance up to 500 degrees Fahrenheit are referred to as super ceramics. Ceramic materials also have applications in metal finishing, bulletproof coating, sealants, friction reduction of noise, oil spillage, fire protection, and rusting.

Market Dynamics 
However, decline in the automotive sector due to the Covid-19 pandemic is expected to hinder growth of the high-performance ceramic coatings market. For instance, according to the Society of Motor Manufacturers and Traders, the new car registrations in the U.K. decreased by 44% in March 2020 compared that in March 2019. 

However, decline in the automotive sector due to the Covid-19 pandemic is expected to hinder growth of the high-performance ceramic coatings market. For instance, according to the Society of Motor Manufacturers and Traders, the new car registrations in the U.K. decreased by 44% in March 2020 compared that in March 2019.U+0020.Among regions, Asia Pacific is expected to witness significant growth in the high-performance ceramic coatings market, owing to significant investment in the military and defense sector. For instance, in March 2019, China's Ministry of Finance announced a yearly budget of US$ 177.5 billion for the defense sector compared to US$ 167.4 billion in 2018.

North America is expected to witness significant decline in the high-performance ceramic coatings market, as sales of motorcycles and cars witness downward trend. For instance, Yamaha Motor Co. has projected that the company’s motorcycle sales will drop 4.7% to 60,000 units in North America in 2020. During the fiscal year ended December 31, 2019, motorcycle sales dropped 6.3% to 63,000 units year over year. Similarly, Harley-Davidson Inc. reported that retail sales volumes dropped 4.3% in 2019 from 2018.

Competitive Analysis 
Major players operating in the high-performance ceramic coatings market include, A&A Thermal Spray Coatings, APS Material, Inc., Aremco Products, Inc., Bodycote Plc., Cermanic Polymer GmbH, Oerlikon Metco, Praxair Surface Technologies Inc., Saint-Gobain S.A., Swain Tech Coatings, Inc., and Zircotec Ltd.
April 2020: Bodycote Plc acquired Ellison Surface Technologies in order to expand its thermal spray and engineered coating surface technology services. 


 

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