NEW YORK, May 31, 2018 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Market Research, global hard coatings market is expected to register significant growth during the forecast period, led by the growing awareness about the benefits of hard coatings and their efficiency and low maintenance cost properties.
On the basis of material type, the hard coatings market is categorized into nitrides, oxides, carbides, carbon-based, borides, and multi-component coatings. Borides was the largest material type in the market in 2017. The largest share of the material type is owing to its superior properties, over others, such as high melting points, great hardness, good electrical, and thermal conductivity. These properties of the type is increasing its demand from various industries such as automotive, construction, sports, medical and home care. This is further expected to boost the market growth.
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Based on deposition technique, the hard coatings market is bifurcated into physical vapor disposition (PVD) and chemical vapor disposition (CVD). During the forecast period, CVD is expected to be the fastest growing category in the market. The CVD technique for these coatings provide high purity, fine grained, cost-effectiveness, durability, and impervious bulk materials that has applications in various industries. PVD is the largest category in the market owing to its high demand from the automotive, aerospace & defense and heavy engineering industries.
In terms of end user, the market is categorized into general manufacturing, transportation, buildings and architecture, medical/dental equipment, food manufacturing/preparation equipment, sporting goods, and others. Based on application, the hard coatings market is classified into cutting tools, decorative coatings, optics, gears, bearings, cams, cylinders, hydraulic/pneumatic components, and others. Others include firearms, implants, and injection molding dyes.
APAC is expected to witness remarkable growth in the global hard coatings market. China and Japan are the largest consumers of these coatings in the region. Applications such as cutting tools and decorative coatings represent the bulk of the demand for these coatings in the APAC. Additionally, rising awareness about the benefits of these coatings has increased its importance as well as demand in countries such as China, Japan, and South Korea.
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Some of the major players operating in the global hard coatings market are 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.
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