Ceramic Coatings Market Share

APAC Market Forecast

The ceramic coatings market in Asia Pacific is projected to be the largest with a share of about 50% by the end of 2037. Rapid development of the construction sector in a number of countries, as well as an increasing auto industry is primarily to blame for market growth. For instance, by 2024 the building construction sector in Asia Pacific is estimated to be worth almost USD 3 million. Dynamic growth opportunities for the market in the forecast period are expected to be created by the increased use of ceramic surface paint on vehicles, as well as major key players and leading vehicle exporters and importers in the region. According to a report, by 2021, the overall vehicle production in the APAC region is expected to reach around 46 million cars, which indicates an increase of 44.2 million compared with 2020.

North America Market Statistics

The North America ceramic coatings market is estimated to be the second largest, registering a share of about 20% by the end of 2037. The significant growth of the air and defense sectors, coupled with an increasing investment in this sector within the region, has been a major driving force for market growth. For example, in the United States, defense investment increased by more than 6 % in 2019 to nearly USD 750 billion.