15-Sep-2020 | Zion Market Research
As per the researchers at Zion Market Research, the global diamond coatings market was capitalized at around USD 2.17 billion in 2019 and is anticipated to attain a value of about USD 3.45 billion by 2026, registering a 7.98% CAGR during the forecast period. Few of the prominent players in the global diamond coatings market consist of D-Coat GmbH, Diamond coatings, United Protective Technologies, SP3 Diamond Technologies, Blue Wave Technologies, Sandvik Hyperion, and JCS Technologies.
Rising Need For Diamond-Coated Medical Equipment And Devices Likely To Boost Market Growth
The growth of the global diamond coating market is projected to be propelled by the rising need for diamond-coated medical equipment & devices along with the improved life of cutting equipment & tools. Diamond coatings are utilized in several end-use industries like mechanical, electronic, medical, industrial, and others, further boosting the global market growth. In the medical technology field, novel techniques are continually being investigated to assure better diagnosis, treatment, and prevention of diseases. On account of its better mechanical and tribological properties, together with biocompatibility, hemocompatibility, and corrosion resistance, the diamond coating has surfaced as a potential means for biomedical applications, thereby driving the global market growth. In addition, the growing uses of diamond coatings, particularly in automotive, aerospace, and other industries are also expected to bring lucrative avenues for the market growth during the forecast period.
Electronic Segment, On The Basis Of End-Use Industry, Expected To Lead The Market
CVD diamond has an exclusive blend of the utmost recognized thermal conductivity with exceptional electrical resistivity and other traits that make it a distinctive substance for the new-gen, high-performance computer products and electronics. Electrical components, Optical windows, wear parts, prosthetics, and heat sinks need adaptability, long life, and strength of superabrasives. All of these are projected to drive the need for diamond-coated equipment and tools in the coming period.
Asia Pacific To Continue Its Dominance Over Global Market During The Forecast Period
In 2018, the global diamond coatings market was governed by Asia Pacific, in terms of consumption. And the dominance is projected to be retained during the forecast period as well. The Asia Pacific diamond coatings market is anticipated to witness a considerable rate of growth during the forecast period. This regional growth can be credited to the existence of ingrained end-user industries like automotive and electronics in this region. Also, rising expenditure in component manufacturing, trailed by medical devices, in nations like India and China is projected to fuel the need for diamond coatings during the years to come. Asia Pacific is expected to be trailed by Europe in the diamond coatings market, which is further anticipated to be trailed by North America. Both of these regions are mature markets and are estimated to display a modest rate of expansion during the forecast period. In addition, the markets in the Middle East & Africa and Latin America are also expected to exhibit a slow growth during the forecast period.
Browse the full “Global Diamond Coatings Market - By Substrate (Ceramic, Metal, And Composite), By Technology (PVD And CVD), By End-Use Industry (Mechanical, Electronics, Medical, Industrial, And Automotive), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/diamond-coatings-market
The global diamond coatings market is segmented as follows:
By End-use Industry
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