(Image courtesy of BBC Research)
BBC has released a new technical market research report which suggests that by 2014, the North American high-performance ceramic coatings market will be worth an estimated $2 billion dollars, up from $1.4 billion in 2009. An article on the report from AZO Materials divides the market into segments, and then gives a rundown of how each segment is performing, along with an estimate on how these segments will continue to grow over the next three and a half years. The largest segment was identified as thermal spray coatings, which was worth an estimated $953 million in 2009, but is expected to reach $1.4 billion by 2014 (to put that into perspective, that is the entire market value of all segments in 2009). Of the second-largest segment, AZO had this to say:
"The second-largest segment, chemical vapor deposition, is estimated at $183 million in 2009, down from $213 million in 2008. It is expected, however, to increase by a 5-year CAGR (Compound Annual Growth Rate) of 3.8% to reach nearly $221 million in 2014. The physical vapor deposition segment (for comparison) is projected to have a 5-year CAGR of 7.4%, rising from $187 million in 2009 to nearly $267 million in 2014.
What this illustrates is that even segments of the market that were previously failing are picking up steam and should begin and continue to grow over the next five years. So, why the sudden boom in the ceramics manufacturing industry? New developments in materials science (Including innovations like DiaCer, see previous posts) and the invention of new processes with which to develop them have been emerging from the woodwork over the last few years. High-performance ceramic coatings is one of the few industries today that has been able to use innovation to overcome an otherwise bleak economical environment. Over the next three and a half years, those in the ceramics and materials science field can expect a lot of opportunities for continued growth and expansion.
To read the article from BBS, follow this link:
To read AZO Materials' take on it, click this one:
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