Hard Coatings Market

Hard Coatings Market Growth Outlook (2023 to 2033)

The global hard coatings market is estimated to be valued at US$ 893.3 million in 2023 and to grow at a rate of 6.0% during the forecast period to reach a valuation of US$ 1,599.7 million by the end of 2033.

Hard coating is an electrochemical substance that serves as a corrosion-resistant coating for the metals such as aluminum, steel, and others. Hard coatings are also referred to as hard anodizing. Hard coatings are used for metal dinnerware, plumbing fixtures, sporting goods, eyeglass frames, door hardware, injection molding dies, cutting tools, optics, gears, and decorative, among others.

Report Attributes	Details
Hard Coatings Market Size (2022A)	US$ 842.7 Million
Estimated Market Value (2023E)	US$ 893.3 Million
Forecasted Market Value (2033F)	US$ 1,599.7 Million
Global Market Growth Rate (2023-2033)	6.0% CAGR
North America Market Share (2023)	27.4%
China Market Growth Rate (2023-2033)	10.0% CAGR
Key Companies Profiled	ASB Industries Inc. CemeCon AG Dhake Industries Inc. DIARC-Technology Oy Duralar Technologies Exxene Corp Gencoa Ltd. Hardcoatings Inc. Ihi Hauzer Techno Coating B.V

Historic and Future Pathway Analysis for the Hard Coatings Market

Hard coatings are widely used to enhance the durability of assemblies and pipelines, which, in turn, lowers the cost of maintenance and avoids the requirement for early replacement. On the back of this, hard coatings are widely used in construction, aerospace, and other end-use verticals.

Hard coatings give strength to the products it is applied on and the capacity to withstand the high weight. For instance, copper is used for creating a hard surface coating that is applied to aluminum surfaces and aluminum alloy parts or pieces, which are further used in automotive, construction, aerospace, and others.

• Short Term (2023-2026): The most common applications for hard anodized metal structures are in space, satellites, and communication devices like computer hardware and a variety of consumer goods. Hence, growing demand from various end-use applications is likely to drive the hard coatings market during the assessment period.
• Medium Term (2026-2029): The growing metal recycling activities is likely to positively influence the growth of the hard coatings market.
• Long Term (2029-2033): Government investments in infrastructure development and aerospace coupled with efforts led by market players to gain high-profit margins and strengthen brand image in the market to drive the hard coatings market in a long run.

On the back of the aforementioned facts, the market is anticipated to grow at a CAGR of 6.0% during the forecast period from 2023-2033, According to the Fact.MR, a market research and competitive intelligence provider.

Market Dynamics Overview

“Surging Military Expenditure to Bolster Hard Coatings Market Growth”

Growing investment in the defense sector creates a plethora of opportunities for hard coatings manufacturers. As, hard coatings increase the service life and quality of weapons, tanks, helicopters, and others.

• For instance, the total global military expenses raised by 0.7% in 2021, to reach a valuation of US$ 2.1 trillion. The five dominating economies in 2021 were the U.S., Russia, India, China, and the U.K. collectively accounted for 62.0% of overall military expenditure.
• Similarly, Qatar’s military expenditure was US$ 11.6 billion in 2021, making Qatar the fifth most prominent investor in the military in the Middle East. Qatar’s military expenditure in 2021 was 434.0% more than in 2010.

With increasing, military expenditures, countries are investing in enhancing their weapon portfolio and in the production of weapons to make them durable hard coatings are done. Hard coatings enable weapons, tanks, submarines, missiles, drones, and others to withstand extreme environments and weight. Hence, the growing investment in the military is likely to drive the hard coatings market in the forthcoming years across the globe.

“Factors Affecting Hard Coatings Market Growth”

For some Chemical Vapour Deposition (CVD) processes, high deposition temperatures (usually over 600 °C) are not suitable for structures that have already been fabricated on substrates.

However, certain materials may be used to lower deposition temperatures through the use of metal-organic precursors or plasma-enhanced chemical vapour deposition (CVD).

Another drawback is the presence of some precursor by-products and hazardous Chemical Vapour Deposition (CVD) precursors.

To handle the precursors and the reactor exhaust procedure, additional steps are required. Chemical Vapour Deposition (CVD) precursors can also be explosive (B2H6), corrosive (SiCl4), or highly toxic (Ni (CO) 4).

Additionally, the by-products of the Chemical Vapour Deposition (CVD) reaction can be harmful (CO, H2, or HF). Some of those precursors, particularly metal-organic precursors, can be very expensive.

Country-wise Insights

What are the Factors Driving Hard Coatings Demand Across India?

The growing construction sector across India coupled with government investment in infrastructure development is likely to drive the demand for hard coatings in the country during the forecast period.

Hard coatings are used to protect metals such as aluminum, steel, and others used in the construction of buildings, interior and exterior, and others. Thus, growing infrastructure development to drive the hard coatings market.

• For instance, to make India a US$ 5.0 trillion economy, the government is adopting every possible measure for infrastructure development.
• Further, India intends to invest US$ 1.4 trillion in infrastructure development via the ‘National Infrastructure Pipeline’ in forthcoming years.
• In 2020-2021, infrastructure development activities contributed to a 13.0% share of the total FDI inflows of US$ 81.7 billion.

Hence, with growing infrastructure development the need for hard coatings is anticipated to be amplified to enhance the quality and service life of the structures and metals used during the development. This, in turn, drives the growth of the hard coatings market during the forecast period.

Why is the Turkiye Hard Coatings Market Expected to Be Highly Lucrative?

The growing electric vehicle market across Turkiye is likely to pave the way for the growth of the hard coatings market across Turkiye. As driving has become more expensive due to rising gas prices, more Turkish drivers are switching to electric cars.

Surging consumer preference towards electric vehicles over conventional ones led to high demand for electric vehicles and increased production activities. Hard coatings are used to strengthen the vehicular body and make it wear-tear-resistant and durable. Hence, the growing automotive industry coupled with increasing gasoline prices across Turkiye is likely to drive the hard coatings market. For instance:

• Turkiye's gasoline costs nearly doubled over the past few years, forcing car owners to devote a larger portion of their income to commuting. For instance, the average monthly cost of gasoline for a car that drives 500 kilometers on city streets is around US$ 247.0, while an electric car owner must pay US$ 40.2 to cover the cost of the vehicle's energy.
• Hence, owing to this the demand sales for electricity amplified. For reference, a total of 6,124 electric vehicles were sold in Turkiye from January to November 2022, a 157% increase from the same period in 2021.

Hence, the flourishing electric vehicle market across Turkiye creates a high demand for hard coatings, as they are used to enhance the service life of the vehicles, make them corrosion-resistant, and improve their wear & tear resistance, and others. Such factors are set to drive the hard coatings market during the forecast period across Turkiye.

Category-wise Insights

Which Deposition Technique is Gaining Traction?

Physical vapour deposition is a method of vaporization coating in which a thin layer of coating is done by using base material on an object by first evaporating and then condensing the material. Hard coatings are composed of metals or ceramics, including nitrides, carbides, and oxides.

The methods used in physical vapour deposition include sputter deposition, electron beam, physical vapour deposition, evaporative deposition, cathodic arc deposition, and pulsed laser deposition.

Due to their increased hardness & wear resistance, improved oxidation resistance, and decreased friction, PVD techniques are popular in various end-use industries including automotive, aerospace, cutting tools, and others.

Which Material is Highly Preferred in Hard Coatings Market?

Borides is a material gaining traction in the hard coatings market. Borides are hard as well as heat-resistant substances that are frequently used as coatings for structures that must withstand high temperatures and high-pressure conditions. The main characteristics that determine the applications for borides and related compounds are their hardness, chemical inertness, and magnetic and electrical properties.

Mechanical and optical properties of the boride phase are significantly influenced by its crystallographic structure. Due to boride's high hardness and strong adhesion, crystalline films based on transition metal diborides seem to be the preferred material for wear-resistant coatings on cutting tools.

Eminent Players Key Stratagems

Market titans focus on expanding their business across the globe to enhance their market reach coupled with establishing sales channels in untapped markets to strengthen brand image at the global level. Further, product launch or product improvement is likely to curb the demand pool. Also, collaboration and pricing remain the go-to strategies to remain competitive in the market and enhance the customer base.

• In January 2021, ASB Industries Inc. collaborated with Hannecard to henceforth operate under the name Hannecard Roller Coatings Inc. This partnership is likely to expand ASB’s rubber & polyurethane roller coatings business across key industries.
• Since 2020, CemeCon K.K. has been collaborating with several Japanese tool manufacturers to provide its range of diamond coatings at its new coating center in Nagoya. Furthermore, they have successfully integrated the HiPIMS technology.

Fact.MR has provided detailed information about the price points of key manufacturers of hard coatings positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Hard Coatings Industry Research

• By Deposition Technique :

  • Physical Vapor Deposition
  • Chemical Vapor Deposition

• By Material :

  • Boride
  • Nitride
  • Oxide
  • Carbide
  • Carbon-based
  • Multi-Component

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA