Diamond coatings have gained a large amount of attention due to their mechanical, electric, and optical properties. Some of the major benefits include high thermal conductivity, low coefficient of friction, maximum surface hardness, and exceptional wear properties. In terms of application, diamond coatings offer an excellent solution for a wide range of surface performance issues.
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Diamond Coatings Market: Segmentation
Based on process used, the diamond coatings market can be segmented into CVD (chemical vapor deposition) and PVD (physical vapor deposition). Chemical vapor deposition was the major process segment of the diamond coatings market in 2017 and is likely to remain the dominant segment between 2018 and 2026. Low cost and ability to coat in various shapes is a factor driving the demand for chemical vapor deposition. Diamond coatings are used on surfaces of various materials. In terms of substrate, the diamond coatings market can be classified into composite substrates, metal substrates, and ceramic substrates. Metal substrates was the major segment in 2017 and is projected to continue its dominance during the forecast period. Steel is a major metal which is used to manufacture various components for different industrial applications. This is a key factor that drives the demand for diamond coatings.
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However, rising use of composites, especially in aerospace, automotive, and other industries is anticipated to make composite substrates a highly lucrative segment during the forecast period. Based on end-user industry, the diamond coatings market can be segmented into automotive, aerospace, industrial, medical, electronics, and others. Automotive was the leading end-user industry segment of the market for diamond coatings in 2017 and is likely to remain the dominant segment during the forecast period also, followed by the electronics segment.
Cutting tools are highly used to manufacture various automotive components. Growth of the automotive industry, especially in Asia Pacific, is likely to propel the demand for diamond coatings in the automotive segment from 2018 to 2026. Diamond coatings have high thermal and electric conductivity, which makes it a unique material for electric and electronic products. This is a key factor augmenting the demand for diamond coatings in the electronics segment.
Diamond Coatings Market: Region-wise Outlook
Based on region, the global diamond coatings market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of consumption, Asia Pacific accounted for a significant share of the global diamond coatings market in 2017. This trend is likely to continue during the forecast period also. The diamond coatings market in Asia Pacific is expected to expand at a significant rate during the forecast period. Presence of well-established end-user industries such as electronics and automotive fuels the demand for diamond coatings in Asia Pacific.
Increase in investments in component manufacturing, followed by medical devices, in countries such as China and India is anticipated to propel the demand for diamond coatings in these countries between 2018 and 2026. Europe is projected to follow Asia Pacific in the market for diamond coatings between 2018 and 2026. Europe is likely to be followed by North America during the forecast period. Europe and North America are mature markets. The markets in these regions are expected to expand at a moderate growth rate during the forecast period. The markets in Latin America and Middle East & Africa are anticipated to expand at a sluggish pace during the forecast period.
Diamond Coatings Market: Key Players
A large number of companies operate in the global diamond coatings market. Several regional and local service providers are providing diamond coating solutions to various end-user industries. Some of the major companies operating in the global diamond coatings market are Diamond coatings, D-Coat GmbH, SP3 Diamond Technologies, United Protective Technologies, JCS Technologies, Blue Wave Technologies, and Sandvik Hyperion.
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