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The ceramic coatings market is expected to be worth $9.41 billion by 2019, according to a new report from MarketsandMarkets.
North America, Europe and Asia-Pacific dominated the ceramic coatings market in 2013, accounting for more than 90% of the market. U.S. is the top consumer of ceramic coatings globally, and is also its largest market, growing at a compound annual growth rate of 6.63% in terms of value until 2019. The rest of the world, including the Middle East, Africa and South America, is expected to have the fastest growth rate by 2019.
High-performance ceramic coatings are currently preferred in markets including aerospace, automotive, healthcare, energy, defense, automotive, fiber-optic communications and environmental protection sectors. While thermal spray takes topmost positions in the ceramic coatings market, with more than a 64% share by value, the fastest growing type of ceramic coating is expected to be nitride coatings, which are used in numerous industrial applications. Oxide coatings reportedly dominate the ceramic coating market by type in terms of volume and value.
For more information, visit www.marketsandmarkets.com.