Diamond Coatings - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Diamond Coatings Market is accounted for $2.09 billion in 2019 and is expected to reach $4.13 billion by 2027 growing at a CAGR of 8.9% during the forecast period. Increasing demand for diamond coated medical devices and equipment and enhanced life of cutting tools and equipment are the major factors propelling the market growth. However, high capital investment and requirement of a qualified workforce for operation are hampering the market growth.
Diamond coatings have gained a large amount of attention due to their mechanical, electric, and optical properties. Diamonds are one of the hardest materials that man has known due to which it is far more effective and efficient than other materials which are used for abrasive, cutting, shaping, or finishing tools and have the highest thermal conductivity among all known materials. Diamonds also have very low thermal expansion and high electrical resistance. Their very high thermal conductivity makes them ideal for spreading and conducting heat out of compact, high-power, high-speed electronic packages. Some of the major benefits include high thermal conductivity, low coefficient of friction, maximum surface hardness, and exceptional wear properties. In terms of application, diamond coatings offer an excellent solution for a wide range of surface performance issues.
Based on the technology, the chemical vapour deposition segment is going to have a lucrative growth during the forecast period owing to the low cost and ability to coat in various shapes. The chemical vapour deposition process typically includes the maintenance of plasma containing atomic hydrogen over the growth surface and requires a source of carbon such as methane (CH4). Chemical vapour deposition process overcomes many of the limitations of high-pressure processes.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the availability of cheap labor and economical and accessible raw materials, and there are significant foreign investments, which is also driving the market growth in the region. Due to the presence of well-established end-users such as electronics and automotive industries fuel the demand for diamond coatings in the Asia Pacific. Increase in investments in component manufacturing, followed by medical devices, in countries such as China and India is anticipated to propel the demand for diamond coatings in these countries Local manufacturers in APAC are successfully providing similar diamond coated tools and equipment at lower costs.
Some of the key players profiled in the Diamond Coatings Market include Oerlikon, D-Coat GmbH, NeoCoat SA, Crystallume, Element Six, SP3 Diamond Technologies, Advanced Diamond Technologies, Inc, Blue Wave Semiconductors, Diamond Product Solutions, and JCS Technologies.
• Chemical Vapor Deposition
• Physical Vapor Deposition
End Users Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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