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(Transportation-News.com, October 19, 2021 ) The global hard coatings market size is projected to reach USD 1,351.3 million by 2026,at a CAGR of 8.0% during the forecast period. The market is driven by rise in demand in the Asia-Pacific countries, increase in awareness about the benefits of hard coatings, and emerging automotive and healthcare sectors.
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Technology advancements in the hard coatings industry,such asthe HiPIMS (High Power Impulse Magnetron Sputtering)coating technologyand the hydrogen-free DLC coating,areexpected to drive the hard coatings market.Cutting toolsis expected to be the fastest-growing application segment of the hard coatingsmarket. Drivers for the growth of this segmentinclude greater functionality and increase in lifetime. As a result, major players in the hard coatings market,such as OC Oerlikon Corporation AG (Switzerland) and IHI Ionbond AG (Switzerland), have rolled out new cost-effective products.
PVD (Physical Vapor Deposition) is the most widely used technique in various industries. The cutting tools industry, the first to adopt the PVD technology, continues to steadilyapplythe PVD technology to replace the conventional deposition techniques. Drivers for the use of this technique in various industries includegreater durability and less time intensive.In September 2013, CemeCon launched PVD coating HARDLOX for hard processingto enhance the durability.
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General manufacturing represents the bulk of the demand for hard coatings. Hard coatings are used for wear protection of machine components in industries. Drivers for the use of hard coatings in the general manufacturing industry are greater functionality, increasedproduct lifetime, and increased energy efficiency resulting in reduced fuel consumption or reduced lubricant requirements.In October 2015, OC Oerlikon Corporation AG (Switzerland) launched BALINIT ALTENSA AlCrN-based coatingto meet the expected high demand.
The multi-component coatings segment isexpected to be the fastest-growing material segment of the hard coatings market. Drivers for the use of multi-component coatings are greater functionality, increase in lifetime, increased energy efficiency resulting in reduced fuel consumption or reduced lubricant requirements. Oerlikon Balzers developed the BALINIT ALTENSA AlCrN-based coating for ultrafast gear cutting to meet the increased demand for hard coatings in this segment.
The Asia-Pacific region dominatedthe global hard coatings market in 2015. The Asia-Pacific market is driven by the increasing demand from the automotive sector. In October 2015, IHI Ionbond AG (Switzerland) set up two new plants, in China and in the Netherlands, to cater to the increasing demand for hard coatings.
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