Ceramic Coatings Market Trends

Growth Drivers

• Rising demand from the aviation industry: To protect the aircraft from damage and enhance its appearance, ceramic coatings are used on the plane's surface. These coating applications are used for the exterior of aircraft components such as planes' fuselages or wings to provide a smooth and aeroponic finish. In addition, these paint agents can also be used in aircraft engines to improve performance and reduce fuel consumption. According to Air Transport Action Group in 2023, 35.3 million scheduled commercial flights took place globally. As the aviation industry is expanding, market players are putting efforts to protect against environmental damage.
• Increasing usage in the healthcare industry: In the healthcare industry, ceramic coatings are excellent for providing coating against corrosion in medical devices. The coating reduces the cytotoxicity and mechanical deterioration. Ceramic coating provides increased corrosion resistance and withstand the chemical reaction. These paints facilitate the reduction of tissue adherence for various surgery ablators, such as blades, knives, and so on, enabling surgeons to achieve better-cutting accuracy and a simpler device cleaning process. According to The Observatory of Economic Complexity (OEC), in 2022, medical instruments were the world’s 17^th most traded product with a total of USD 157 billion.
• Surge in installation of solar panels: A large use of ceramic paint is used for conductive coatings made in solar panel production. Ceramic coatings protect from mineral damage and discoloration of the glass. In addition, these coatings protect solar mirrors and enable them to withstand extreme temperatures. Solar panels witness faster corrosion which reduces their quality and shortens life. According to Solar Power Europe, global solar installation doubled in 2023, surging by 87% from last year.

Challenges

• Hefty cost of coating: The high price of ceramic coating as well as the significant time required to apply it effectively on certain surfaces are some primary causes for its high cost. Consequently, this factor is estimated to hamper growth in the market over the next few years.
• Rising health concerns: Some of the coating formulations contain toxic additives and bad chemicals that pose risks to the health and safety of the consumers owing to the adoption in the case of long exposure.