Promotions and marketing of diamond coating formulations for their exceptional physical properties for industrial environments to stimulate demand
Demonstrated advantages of diamond coatings to eliminate regular polishing and waxing of cars spell growth for the diamond coatings market
ALBANY, N.Y., Nov. 22, 2021 /PRNewswire/ -- The expanding applications of diamond coatings with the emergence of improved diamond coating products is anticipated to fuel the growth of the diamond coatings market in the upcoming years. The increasing demand for improved cutting tools and equipment from a number of end-use industries such as automotive, aerospace, and industrial is fueling the diamond coatings market growth.
Diamond coatings display an array of physical properties such as high thermal conductivity, electrical resistivity, strength, hardness, and low coefficient of friction that make them suitable for high-performance consumer electronics. Furthermore, advantages of diamond coatings are demonstrated in thermal management of power semiconductor devices and insulated gate drive bipolar transistors in electronics. With increasing penetration of electronics, the demand for diamond coatings is anticipated to continue to be on the rise.
Diamond coatings have other advantages too. The extremely high thermal conductivity of diamond coatings prevents damage of cutting edge of cutting tools from heat.
The diamond coatings market is estimated to be valued at US$ 3.7 Bn by 2031.
Diamond Coatings Market – Key Findings of Report
Product Innovations for Use in Abrasive Industrial Applications Fuels Market Growth
The demand for innovative diamond coatings that are suitable for an entire range of stressful machining applications is on the rise and thus, divided into a group of different base materials. In order to serve this, companies in the diamond coatings market are amplifying the production of diamond coatings that are suitable for machining highly abrasive compressed and sintered powders such as graphite for dies and molds, and ceramics for dental applications.
Expanding applications of diamond coatings are driving manufacturers to develop improved products. This includes developing diamond coatings for improved cutting performance and manufacture of parts with strictest resistance to attain the best finishing accuracy. Highly abrasive aluminum alloys, fiber-reinforced plastics, and stack materials are some machining applications that diamond coatings are used for.
The demand for diamond coatings for the surface protection of vehicles is another key factor fuelling the expansion of the diamond coatings market. Diamond coatings help protect expensive paints of vehicles from harmful particles that settle on the surface at all times. In addition, diamond coatings help to lock in the color and shine of new vehicles and newly painted vehicles. Diamond coatings enable easy maintenance of vehicles, since they eliminate the need for regular polishing and waxing of vehicles.
Composite Diamond Coatings to Offer New Revenue Streams
The exceptional corrosion resistance and wear resistance properties of composite diamond coatings are creating opportunities in the diamond coatings market. The role of specialty diamond coating manufacturers in creating avant-garde products is favoring the diamond coatings market. For instance, Surface Technology Inc. – a specialist in diamond composites and PTFE is gaining recognition for composite diamond coating products that increase thermal transfer and impart excellent hardness in end-use applications.
Composite diamond coatings expand shelf life and minimize maintenance related downtime of metal components. This attracts metal finishers to opt for composite diamond coatings for their potential to allow the use of new materials for their performance or cost advantages.
Demonstrated advantages of diamond coatings to impart durability, corrosion resistance, and extended life for cutting tools and equipment used in a number of end-use industries is propelling the diamond coatings market
Innovations in novel diamond coating products for demanding machining applications bolster growth of the diamond coatings market
Diamond Coatings Market – Key Players
Some of the key players operating in the diamond coatings market are OC Oerlikon Management AG, NeoCoat SA, Crystallume, Advanced Diamond Technologies, JCS Technologies Pvt Ltd, Surface Technology Inc., Sandvik AB, Element Six Ltd., SP3 Diamond Tech, Blue Wave Semiconductor, and Diamond Hard Surfaces Ltd.
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.