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The Diamond Coatings Market size is estimated to grow by USD 910.77 million from 2023 to 2027 and the market’s growth momentum will accelerate at a CAGR of 6.9%. The growth of the market depends on several factors, including the cost advantages of diamond coatings, the versatile properties of diamond coatings, and the increasing penetration of smart devices.
Diamond coating is a technique to coat various substrates of diverse sizes and shapes with diamond particles. This technique can be employed using two technologies, CVD and PVD. These films and coatings have a wide spectrum of applications, such as cutting and grinding tools.
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The cost advantages are notably driving the market growth, although factors such as the easy availability of substitutes may impede the market growth.
Key Driver
The cost advantages are the key factor driving the global market growth. The low cost, in comparison with industrial diamonds, is one of the key factors driving factors in the market. The physical and chemical properties of diamond coatings and industrial diamonds are almost identical. They also offer the same toughness and other physical properties.
Diamond granules can easily break off from diamond grain-based cutting and grinding tools, which is difficult to fix and hence, reduce the operational life of tools. In contrast, tools with these coatings have an evenly spread coating of diamond particles and do not face diamond chipping issues. This allows diamond-coated tools to offer a comparatively higher service life than diamond grain-based and conventional tools. Such factors aid the adoption of such coatings in various applications, which is expected to fuel the demand during the forecast period.
Key Trend
R&D initiatives to enhance the use of diamond coatings will fuel the global market growth. Strong R&D activities related to the current and potential use of diamond coatings are likely to open up various application opportunities in the future. Currently, diamond coatings are commonly used in varied industrial applications such as semiconductors, electronics, mechanical, construction, industrial, glass and gemstone cutting, computer chip manufacturing, medical and healthcare, oil and gas exploration, and mining.
Initially, these coatings were only known for their strength, wear resistance, and hardness. However, at present, they have a wide spectrum of applications. Some of the fast-growing applications of the coatings include oil and gas drilling, mining, electronics, precision machining, medical and healthcare, and automotive paints. The growing scope for diamond coating applications in different fields will likely fuel the demand for advanced diamond coating processes and technologies during the forecast period.
Key Challenge
The easy availability of substitutes is a major challenge to global market growth. Diamond-coatings and diamond-coated tools have many substitutes. These include titanium nitride, chromium carbide, titanium carbonitride, chromium nitride, aluminum titanium nitride, zirconium nitride, and aluminum-rich coating. The high performance of these alternative coatings is expected to hinder the growth of the market during the forecast period. The increasing use of various types of high-strength tools is also expected to impact the market during the forecast period.
Choosing the right cutting tool is imperative for defect-free, efficient, and complex machining operations such as cutting, milling, grinding, turning, and drilling. This increases the adoption of high-speed steel (HSS) metal-cutting tools, which are superior in quality to conventional tools. HSS metal-cutting tools ensure increased precision and are widely adopted across various industries. The effective deployment of HSS metal-cutting tools enables the development of products with increased dimensional accuracy, helping these products compete in international markets. The growing inclination for alternative coatings and superior-quality high-speed steel (HSS) metal-cutting tools will likely hinder the market growth during the forecast period.
Key Market Customer Landscape
Our analysis of the Life Cycle of the market indicates a movement from the innovator’s stage to the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries including the US, Canada, China, Japan, Germany, and the UK. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.
Global Market Customer Landscape
companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market
Acree Technologies Inc. - The company offers diamond coatings such as carbon coatings. Also, they offer DLC coatings, TCO coatings, wear-resistant coatings, and erosion-resistant coatings.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including :
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the electronics segment will be significant during the forecast period. Diamond-coated components are ideal for use in high-performance computers and electrical and electronic products, such as heat exchangers and sinks, electrical components, optical windows, and prosthetics. The demand for such diamond-coated devices is likely to propel the market segment's growth during the forecast period.
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The electronics segment showed a gradual increase in market share with USD 459.70 million in 2017 and continued to grow by 2021. The rapid rise in the sales of smart devices like smartphones, streaming media players, notepads, laptops, smart televisions, and other multimedia devices is also anticipated to drive the demand for the coatings from the electronics sector during the forecast period. Furthermore, our report provides a brief analysis of the historical and forecast market share and their segments along with the reasons for growth from 2017 to 2027.
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Europe is projected to contribute 33% of market growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in Europe is likely to witness considerable growth during the forecast period, mainly due to the increasing use of the coatings in industries such as automotive, aerospace, mechanical, and construction. The use of the coatings in various fields such as microelectronics, telecommunication, and automotive also drives the growth of the market in Europe. The increasing adoption of next-generation digital technologies, smart consumer electronics, the Internet of Things, and electromechanical components and accessories is propelling the microelectronics and telecommunication industries in the region. Europe is one of the largest automotive producers globally, which is likely to enhance the use in the automotive sector. Diamond-coated components are preferred in the electronics sector due to their excellent thermal conductivity.
Our market research report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by end-user, technology, and region.
The Global Market spans various industries such as electronics, plastics, metals, ceramics, and composites. Utilizing carbon feed gases like methane and hydrogen, diamond coatings offer corrosion resistance and lightweight, and high-strength components. They find applications in the construction industry, emphasizing mechanical properties and biocompatibility. Research and development drive technological innovations, optimizing value chains and production processes.
Despite challenges like manufacturing costs and market regulations, strategic growth analysis identifies emerging revenue pockets and application niches. Key players like Advanced Diamond Technologies lead industry trends, focusing on product launches and geographical expansions to meet diverse consumer demands, especially amidst disruptions like the pandemic and trade wars, impacting the electrical and electronics industry and medical device market.
Diamond Coatings Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historical year |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.9% |
Market growth 2023-2027 |
USD 910.77 million |
Market structure |
Fragmented |
YoY growth (%) |
6.5 |
Regional analysis |
Europe, North America, APAC, the Middle East and Africa, and South America |
Performing market contribution |
Europe at 33% |
Key consumer countries |
US, Canada, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Acree Technologies Inc., Anglo American plc, Blue Wave Semiconductors Inc., Calico Coatings, CemeCon AG, Creating Nano Technologies Inc., Crystallume Corp., Diamond Materials GmbH & Co. KG, Diamond Product Solutions, Element Six UK Ltd., Endura Coatings, Entegris Inc., IBC Coatings Technologies Inc., JCS Group, NeoCoat SA, OC Oerlikon Corp. AG, Sandvik AB, SP3 Inc., Surface Technology Inc., and United Protective Technologies LLC |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market growth and trends report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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