Global Hard coating Market – Industry Trends and Forecast to 2029

Hard Coating Market Analysis and Size

Hard coatings are the electrochemical coating technique that brings on the hardened surfaces by anodizing sulfuric acid. This coating technique provides higher durability and scratch resistance to the objects due to this, the hard coating are used across numerous end-user industries such as ball bearings, tools, equipment and optical lenses. The borides is the highest growing material type segment of the market as it is heat-resistant and hardest in nature. Furthermore, the advancements in the automotive sector and the rising demand for lightweight components are expected to propelling the automotive sector to adopt hard coatings. 

Data Bridge Market Research analyses that the hard coating market is expected to undergo a CAGR of 8.15% during the forecast period. This indicates that the market value, which was USD 924.92 million in 2021, would rocket up to USD 1,731.08 million by 2029.  In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Hard Coating Market Scope and Segmentation

Market Definition

Hard coated films are coating developed using a plasma deposition process that offers several benefits compared to soft coatings. The plasma deposition process is controlled by using computer, which allows for high environmental aptitude, even layering and improved performance. Hard coatings are widely used in surface engineering technique for improving the wear resistance of components and tools. The hard coating can also be used in the corrosive environments, such as in biomedical, marine, or oil and gas applications.

Hard Coating Market Dynamics

Drivers

• Increase the use of boride chemicals

The demand of the boride chemical increases in the hard coatings market. This chemical is one of the most hardest and heat-resistant compounds. Furthermore, it is widely used as coatings for materials that have to withstand in the harshest situations due to their incredible toughness properties used to cutting tool. The rising demand of boride chemical in hard coating are expected to drive the growth rate of the hard coating market.

• Rise in demand due to unique properties

Hard coatings have several properties such as electrical and temperature resistant, resistant to corrosion, hardness and wear and have low friction coefficient after lubrication due to all these properties increase the demand of the hard coatings in the market globally.

• Rising awareness about the benefits of hard coatings

The growing awareness about the benefits of hard coatings has increased the use of such coatings in a several end-user industries such as general manufacturing, automotive and construction. Hard coatings are used in the general manufacturing industry due to its increased energy efficiency, functionality, and lifetime. The rising demand of hard coatings in several industries are expected to increase the market value during the forecast period.

Opportunities

• Several industrial applications

The market scope of hard coatings is continuously increasing with the evolving end-users industries such as marine, building and construction, aerospace and defence, and the automotive sector. Moreover, hard coatings have several industrial applications which aid to protect equipment and machinery that functions in a harsh condition, these are some major factors which are creating beneficial opportunities for the growth of the hard coating market during the forecast period.

• Increase focus towards expansion

The major companies are mostly shifting their focus towards introducing new and innovative products and growing their production capacities into the amino resins market to attain a competitive advantage. The products are developed in such a way that would help with the compliance of stringent formaldehyde emission regulations.

• Rapid growth of healthcare sector

The world's rapid growth of the healthcare sector overall is expected to boost the growth of the hard coatings market. Moreover, the rising awareness about the benefits and efficiency of using hard coatings and growing research and development activities in the healthcare sector are some of the major factors which are anticipated to accelerate the market growth rate. 

Restraints/Challenges

• High cost associated with market

The process involves high amount of expenditure in this market which is expected to hamper the growth of the hard coating market. There is a high cost of ownership with the availability of the alternatives limiting the market’s growth rate. These are some of the major factors which are restraining the growth of the hard coating market during the above mentioned forecast period.

This hard coating market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the hard coating market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Hard Coating Market

The outbreak of the COVID-19 pandemic has declined the growth of the hard coating market globally. During the pandemic, manufacturing companies are dealing with the disrupted demand and supply chains due to the shutdown of manufacturing facilities during this pandemic. In the post pandemic era, growth in the medical and healthcare segment is expected to reinforce the market for hard coating, as it helps improve instruments' efficiency. Thus, coronavirus is leaving a major impact on the growth of the engineered foam market.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In April 2022, HPL is one of the leading market players had developed a novel hard coating technology, which is also called WECOUR that helps the rotors to resist corrosion and in attaining a longer lifetime; moreover, this technology also helps to decreasing the harmful dust emissions. The organization claim that this specialized brake pads and novel technology provide durability and performance for the industry.
• In March 2022, In Chicago, the engineers at the University of Illinois had developed a long-lasting coating, considered the most effective ice immune product in the industry that provides ecological sustainability. It was designed after the careful research on the nature of chemicals.

Global Hard Coating Market Scope

The hard coating market is segmented on the basis of material, application, deposition technique and end-use industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material

• Nitrides
• Oxides
• Carbides
• Carbon-Based
• Borides
• Multi-Component Coatings

Application

• Cutting Tools
• Decorative Coatings
• Optics
• Gears
• Bearings
• Pistons
• Cams
• Cylinders
• Hydraulic/Pneumatic Components

Deposition Technique

• Physical Vapour Deposition
• Chemical Vapour Deposition

End-Use Industry

• General manufacturing
• Automotive and Transportation
• Buildings and Construction
• Medical Equipment
• Sporting Goods
• Food Manufacturing Equipment
• Others

Hard Coating Market Regional Analysis/Insights

The hard coating market is analysed and market size insights and trends are provided by country, material, application, deposition technique and end-use industry as referenced above.

The countries covered in the hard coating market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the hard coating market due to the composition of aromatic hydrocarbons, excellent production of polyester goods and well established distribution channel.

North America will continue to project the highest growth rate during the forecast period of 2022-2029 due to the steady increase in the use of hard coatings materials, primarily in the defense, aerospace and marine sector.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Hard Coating Market Share Analysis

The hard coating market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hard coating market.

Some of the major players operating in the hard coating market are:

• IHI HAUZER B.V. (Netherlands)
• Sulzer Ltd (Switzerland)
• OC Oerlikon Management AG (Switzerland)
• CemeCon (Germany)
• IHI Ionbond AG (Switzerland)
• Momentive (U.S.)
• ZEISS International (Germany)
• Covestro AG (Germany)
• The Lubrizol Corporation (U.S.)
• Huntsman International LLC (U.S.)
• Solvay SA (Belgium)
• Clariant AG (Switzerland)
• BASF SE (Germany)
• Avient (U.S.)
• Construction Materials Co., Ltd., (China)
• Holcim (Switzerland), CHRYSO GROUP (France)
• GCP Applied Technologies Inc. (U.S.)
• Omnova Solutions Inc. (U.S.) 
• DuPont (U.S.)

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