United States Hard Coatings Market is Poised to Grow at an Average Annual Rate of 5.4% Until 2028

United States Hard Coatings Market is Poised to Grow at an Average Annual Rate of 5.4% Until 2028 Fact.MR – a market research and competitive intelligence provider, anticipates the global hard coatings market to top US$ 1 Bn by 2031, expanding at nearly 7% CAGR, according to a recently published study on the landscape. Growth is likely to be nudged by extensive uptake across the medical devices & equipment manufacturing industry.

Historically, sales of hard coatings increased at a CAGR of over 6% from 2016 to 2020. In terms of revenue, the market grew from approximately US$ 600 Mn in 2016 to over US$ 750 Mn in 2020. While prospects remained sluggish across several industrial verticals amid the COVID-19 crisis, the food processing segment majorly sustained sales, given the increased demand for instant foodstuff during the lockdown period.

For detailed insights on enhancing your product footprint, request for a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=6404 Future growth prospects are equally reliant on the ever-broadening food processing industry. With anticipated increase of around 70% in global food demand by 2050, the need for processed and hygienic food is multiplying. Hence, advanced processing solutions that deploy hard coatings is on the incline, with key manufacturers introducing innovative food coating product lines.

For instance, in June 2021, AgroFresh Solutions Inc. debuted edible plant-based coatings for fresh produce under its VitaFresh Botanicals brand.

Key Takeaways from Market Study       

By deposition technique, hard coatings based on physical vapor deposition to experience nearly 5% CAGR Oxide hard coating sales to expand highest by material, expanding at a CAGR close to 8% by 2031 Sales of boride hard coatings to be valued at above US$ 450 Mn by 2031-end Hard coatings made from nitrides to expand robustly, surging at nearly 7% CAGR High uptake in medical device manufacturing bolstering U.S. growth prospects, reaching over US$ 200 Mn in 2020 China to deploy hard coatings extensively in architectural coatings, topping US$ 250 Mn by 2031 Japan and Canada are other noteworthy markets, expanding at CAGRs of around 4% and 6%, respectively

For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=6404 Key Segments Covered in Market Study Deposition Technique 

Hard Coatings Based on Physical Vapor Deposition

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Hard Coatings Based on Chemical Vapor Deposition

Material      

Boride Hard Coatings Nitride Hard Coatings Oxide Hard Coatings Carbide Hard Coatings Carbon-based Hard Coatings Multi-Component Hard Coatings

For in-depth competitive analysis, buy now – https://www.factmr.com/checkout/6404 Competitive Landscape Prominent hard coating manufacturers included in Fact.MR’s analysis include ASB Industries Inc., CemeCon AG, Dhake Industries Inc., DIARC-Technology Oy, Duralar Technologies, Exxene Corp, Gencoa Ltd., Hardcoatings Inc., and Ihi Hauzer Techno Coating B.V., among others. 

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In June 2021, Oerlikon Balzers, an OC Oerlikon subsidiary, signed a decade long contract with MTU Aero Engines to apply its erosion-resistant ERCoatnt coating on aerofoil components of nextgeneration GTF aero engines used in the Airbus A320 neo aircraft.

In October 2020, SDC Technologies Inc. acquired COTEC GmbH, a prominent manufacturer of high quality physical vapor deposition (PVD) and molecular layer deposition (MLD) materials for hydrophobic, oleophobic and anti-reflective coatings in the ophthalmic, precision optics, automotive and display markets.

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