|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The Global Diamond Coating Market is projected to register a CAGR of over 6% during the forecast period (2021-2026).
The market was negatively impacted by COVID-19 in 2020. Several countries were forced to go in lockdown owing to the pandemic scenario, which led to the shutdown of manufacturing facilities of almost every industry worldwide for a specified time. The electronics industry, one of the major consumers of diamond coating, was immensely affected. The electronics supply chain was already in the throes of disruption before the outbreak. The tariff war between the United States and China forced the relocation of some high-profile electronics manufacturers from China to Southeast Asia. Then with the pandemic happening, the production of electronics was halted due to a logistical slowdown and a lack of workforce availability around the world. Furthermore, disruptions to supply chains, caused further shipment delays for electronics manufacturers, thereby affecting the market studied. However, the industry started to revive in the latter half of 2020.
- Over the long term, the major factor driving the market is the increasing demand from the consumer electronics industry.
- On the flip side, high capital investment is expected to hinder the growth of the diamond coatings market.
- The Asia-Pacific region is expected to dominate the market, owing to the increasing consumption from countries, such as China, India, and Japan.
Scope of the Report
Diamond coating is a clear, pure liquid, which hardens once it is exposed to air. Widely used in the electronics industry, diamond coating in recent years has been widely adopted in the medical industry in a variety of medical instruments, including temporomandibular joint prostheses, heart valves, and microelectromechanical structures, in order to prolong implant lifespan.
The Global Diamond Coating Market is segmented by technique, end-user industry, and geography. By technique, the market is segmented into chemical vapor deposition (CVD) and physical vapor deposition (PVD). By end-user industry, the market is segmented into electrical and electronics, medical, industrial, and other end-user industries. The report also covers the market size and forecasts for the market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD Million).
|Chemical Vapour Deposition (CVD)|
|Physical Vapour Deposition (PVD)|
|Electrical and Electronics|
|Other End-user Industries|
Key Market Trends
Growing Demand from the Electrical and Electronics Industry
- Diamond coatings find extensive use in consumer electronics owing to their properties, such as high thermal conductivity, strength, electrical resistivity, and low coefficient of friction.
- Diamond is the hardest material, and it possesses unique qualities, such as high thermal conductivity, high resistivity, and low coefficient of friction. These properties make diamonds suitable for diverse applications. However, the extensive use of diamond for these applications would be costly, so technologies like CVD and PVD were developed to make the process feasible.
- Diamond-like carbon or diamond coating is a kind of amorphous carbon, which holds the properties of diamond such as high electrical resistivity making it favorable for new generation high-performance consumer electronics gadgets.
- With the advent of new technologies, the global electronics industry has been under pressure to deliver better every time. New technologies like 5G, the Internet of Things, and augmented virtual reality rely on materials that are strong and difficult to machine.
- The electronics industry is continuously making remarkable progress and development, the demand for the market studied is growing rapidly. The production of cellular phones, portable computing devices, gaming systems, and other personal electronic devices will continue to spark the demand for semiconductors, capacitors, and other electronic components.
- According to Zentralverband Elektrotechnik- und Elektronikindustrie e.V. (ZVEI), the German Electrical And Electronic Manufacturers' Association, the global electric production was valued at EUR 4.2 trillion in 2017, which increased by EUR 4.4 trillion in 2018, and it was further estimated to reach EUR 4.5 trillion in 2019. However, the industry was estimated to decline to EUR 4.4 trillion by the end of 2020, severely impacted by the COVID-19 pandemic. In 2019, the industry registered a growth rate of more than 2%, which declined to -3% (estimated) in 2020 but is expected to recover and reach more than 6% in 2021.
- Hence, owing to the aforementioned factors and the rising demand for diamond coating from the global electrical and electronics industry, the market is expected to grow during the forecast period.
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Asia-Pacific to Dominate the Market
- The Asia-Pacific region is expected to be the largest and fastest-growing market, owing to the huge demand of the market studied from various end-user industries in the region.
- China dominates electronics production in the global market. The country’s electronics production, which was steadily increasing through the years, has recently suffered from deceleration owing to the ongoing trade war between China and the United States, forcing various electronics producers to shift their base from China to other countries in the Asia-Pacific region. However, the country still continues to dominate the electronics production in the global market,
- In India, electronics production was valued at around USD 63.62 billion in 2018-2019. The National Policy on Electronics 2019 planned to advance local assembling and fare in the whole worth chain of Electronics System Design and Manufacturing (ESDM) to accomplish a turnover of USD 400 billion by 2025. India is expected to become the fifth-largest consumer electronics and appliances industry in the world by 2025. Additionally, in India, technology transitions, such as the rollout of 4G/LTE networks and IoT (Internet of Things), are driving the adoption of electronics products.
- The growing medical industry in the region further has increased the demand for diamond-coated medical devices and equipment, and this is expected to propel the market studied in the region.
- The market for medical devices is expected to rise the fastest in Asia-Pacific due to rapid growth in the healthcare segment in the region. India is an attractive destination for healthcare tourism and is known for its economic treatment. This has led to a growth in the healthcare segment in the region, which has increased the demand for the market studied from the medical devices industry.
- In India, the government anticipated the healthcare industry to register three-fold growth to USD 133.44 billion by 2022. Moreover, the government is planning to increase public health expenditure to 2.5% of the country's GDP by 2025.
- The medical device market in China has been witnessing strong growth with a growing number of hospitals and increasing demand for medical assistance. According to the China Association for Medical Device Industry, the medical device market size was recorded to be around ~USD 80 billion in 2019. About 70% of the growth was majorly fueled by hospital procurement.
- Medical devices are found to constitute a thriving industry in Thailand, with the country acclaimed as a major healthcare hub in Asia. Thailand, as a leader in Asia, is found to be playing a vital role in many regional and international organizations dedicated to promoting the advancement of medical devices in the area. Most of the medical devices manufactured in Thailand for export fall into the category of single-use devices, and approximately 84% of the revenue of all medical supplies exported are in this group.
- All the aforementioned factors are expected to drive the growth of the diamond coating market in the region, during the forecast period.
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The diamond coating market is partially consolidated in nature. Some key players of the market studied include NeoCoat SA, Element Six (UK) Ltd, SP3 Diamond Tech, United Protective Technologies LLC, and OC Oerlikon Management AG.
- In April 2019, John Crane announced that it completed the acquisition of Advanced Diamond Technologies (ADT), Industrial Division. ADT, based in Romeoville, Illinois, the United States, is a leader in the development and application of diamond films for industrial, electronic, mechanical, and medical applications.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Growing Demand for Consumer Electronics
4.1.2 Other Drivers
4.2.1 High Capital Investment
4.2.2 Unfavorable Conditions Arising due to the COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1.1 Chemical Vapour Deposition (CVD)
5.1.2 Physical Vapour Deposition (PVD)
5.2 End-user Industry
5.2.1 Electrical and Electronics
5.2.4 Other End-user Industries
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.2 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
5.3.4 South America
126.96.36.199 Rest of South America
5.3.5 Middle-East and Africa
188.8.131.52 Saudi Arabia
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 Diamond Product Solutions
6.4.3 Element Six UK Ltd
6.4.4 JCS Technologies Pte Ltd
6.4.5 John Crane
6.4.6 NeoCoat SA
6.4.7 OC Oerlikon Management AG
6.4.8 SP3 Diamond Tech
6.4.9 Surface Technology Inc.
6.4.10 United Protective Technologies LLC
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Diamond Coating Market market is studied from 2016 - 2026.
What is the growth rate of Diamond Coating Market ?
The Diamond Coating Market is growing at a CAGR of >6% over the next 5 years.
Which region has highest growth rate in Diamond Coating Market ?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Diamond Coating Market ?
Asia Pacific holds highest share in 2020.
Who are the key players in Diamond Coating Market ?
NeoCoat SA, Element Six (UK) Ltd, SP3 Diamond Tech, United Protective Technologies, LLC, OC Oerlikon Management AG are the major companies operating in Diamond Coating Market .