170 Pages Market Research Survey by Fact MR, A Market Research and Competitive Intelligence Provider Offers Insights into Hard Coatings Market Outlook and Highlights Key Factor Driving the Demand for Hard Coatings
NEW YORK, July 12, 2021 /PRNewswire/ -- The hard coatings market survey conducted by Fact.MR offers insights into factors impacting growth trajectory registered around the world. The report highlights key aspects driving the hard coatings demand outlook in terms of material and deposition technique. It also provides insights into strategies adopted by market players to increase hard coatings revenue sales in near future.
Fact.MR – A Market Research and Competitive Intelligence Provider: As per a study by Fact.MR, the global hard coatings market is expected to surpass a valuation of US$ 750 million by the end of 2021 in comparison to US$ 600 million registered between 2016 and 2020. Thanks to the extensive uptake across the food processing and healthcare industry, the market demand is expected to project growth at a CAGR of 7% during the forecast period 2021 to 2031.
Ongoing expansion food processing industry is fueling the demand for hard coatings. According to Fact.MR, hard coatings sales growth is primarily sustained by demand in the food processing sector. Rising demand for ready-to-eat food will continue creating opportunities for sales within the industry.
As a result of steady expansion of the food processing sector, the need for well-processed and hygienic food is multiplying. Since hard coatings prevent food spoilage from abiotic and biotic environmental factors, their demand is expected to soar.
Prospects for application in healthcare also are giving impetus to the hard coatings market. Hard coatings are especially used in the medical devices and equipment manufacturing domains. Coatings manufactured using physical vapor deposition (PVD) process and titanium nitride are widely sold in the healthcare sector.
Fact MR identifies the U.S. and China as highly lucrative markets for sales. Rising healthcare spending and demand for advanced facilities will continue supporting growth in both countries. The China market is forecast to reach a valuation of US$ 250 Mn, expanding at 10% CAGR by 2031.
"Manufactures are investigating the scope for application of hard coatings in the food processing industry. They are focusing on developing innovative products such as edible coating to preserve food quality and address the increasing demand for hygienic processed food products," says the Fact.MR analyst.
Leading player operating in the hard coating market are focusing on launching new products and engaging into strategic collaborations and mergers & acquisitions to maintain their lead and strengthen their global footprint. Some notable developments in the hard coatings industry analysis include:
In January 2021, ASB Industries Inc. announced its collaboration with Hannecard, a European company, and stated that they will operating under the name Hannecard Roller Coatings Inc., henceforth.
In June 2021, AgroFresh Solutions Inc., a company based in America, announced a launch of its new edible plant-based coatings for fresh product under its VitaFresh Botanicals brand
Some of the prominent players operating in the hard coating market profiled by Fact.MR are:
ASB Industries Inc.
Dhake Industries Inc.
Ihi Hauzer Techno Coating B.V
Ihi Ionbond AG
Kobe Steel Ltd.
Momentive Performance Materials Inc.
OC Oerlikon Corporation AG
SDC Technologies Inc.
More Valuable Insights on Hard CoatingMarket
Fact.MR, in its new report, offers an unbiased analysis of the global hard coating market, analyzing forecast statistics through 2019 and beyond. The survey reveals growth projections on in hard coating market with detailed segmentation:
Hard Coatings Based on Physical Vapor Deposition
Hard Coatings Based on Chemical Vapor Deposition
Boride Hard Coatings
Nitride Hard Coatings
Oxide Hard Coatings
Carbide Hard Coatings
Carbon-based Hard Coatings
Multi-Component Hard Coatings
Key Questions Covered in the Hard CoatingMarket Report
The report offers insight into hard coating demand outlook for 2021-2031
The market survey also highlights projected sales growth for hard coating market between 2021 and 2031
Hard coating market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Hard coating market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
Explore Fact. MR's Coverage on the Chemical & Materials Domain
Hydrophobic Coatings Market - The automobile and construction industries are expected to benefit from increased emphasis on infrastructure development, changing consumer habits, and growing living standards in emerging nations such as India. As a result, a perfect atmosphere for the sale of hydrophobic coatings exists, and the industry is likely to grow. The medical industry's demand for hydrophobic coatings is predicted to grow dramatically due to increased use in fabrication.
Automotive Electronics Conformal Coatings Market - Over time, automotive electronics has grown in importance. Due to the reduction in space between tracks, conformal coating is essential to protect vital components from hard operating conditions and to boost surface insulation resistance. Conformal coatings for automotive electronics have seen a continuous increase in sales. Increased investments in automotive electronics such as sensors and other equipment have resulted from rising vehicle ownership across all geographies, boosting growth.
Glass Flake Coatings Market - Insatiable demand for energy growing, governments around the world are implementing a variety of projects, including oil and natural gas pipelines. Glass flake coatings will have new growth opportunities in the approaching decade as a result of this. To avoid damage, these construction pipes require a lot of insulation from external shocks, which makes glass flake coatings a good option. During 2021-2031, manufacturers are finding fertile ground for the production of glass flake coatings.
Market research and consulting agency with a difference! That's why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to Chemical & Materials and retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we'll be an able research partner.
Mahendra Singh US Sales Office: 11140 Rockville Pike Suite 400 Rockville, MD 20852 United States Tel: +1 (628) 251-1583 E: email@example.com