“The diamond coatings market is projected to grow at a CAGR of 7.8% from 2017 to 2022.”
The diamond coatings market is projected to grow from USD 1.76 billion in 2017 to USD 2.56 billion by 2022, at a CAGR of 7.8% between 2017 and 2022. The increasing demand for diamond coated medical devices and equipment, and enhanced life of cutting tools and equipment are the major factors driving the demand for diamond coatings.
However, high capital investment and requirement of a qualified workforce for operation are expected to restrain the growth of the diamond coatings market during the forecast period.
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“CVD is estimated to be the largest technology segment of the diamond coatings market during the forecast period.”
CVD is a widely used material processing technology.
The technology for CVD of pure diamond coatings on rotating cutting tools has developed rapidly in the past several years. In recent times, several advanced composite materials, for example, carbon fibre reinforced plastics (CFRP) parts that are gaining popularity are perfectly suited to be machined with CVD diamond tooling.
This has spurred the growth of the CVD diamond coating technology.
“Rising demand from APAC is a key factor that is expected to drive the diamond coatings market during the forecast period.”
The APAC region is expected to witness the highest growth during the forecast period. The growth of diamond coatings market is driven by the high demand for diamond coated tools and equipment in APAC countries.
In addition, several new competitors, as well as consumers entering the global market with a larger presence in APAC countries due to factors such as low labour cost and the growing demand, owing to a large regional population, are driving the diamond coatings market in APAC.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
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The break-up of the primary interviews is given below:
- By Company Type:Tier 1 – 42%, Tier 2 – 25%, and Others – 33%
- By Designation:C-level – 36%, Director-level – 19%, and Others – 45%
- By Region:Europe – 42%, North America – 25%, APAC – 17%, South America – 8%, Middle East & Africa – 8%
Note: Other designations include sales managers, marketing managers, and product managers.
Tiers of the companies are based on their total revenue in 2016; Tier I – revenue greater than USD 5 billion, Tier II – revenue between USD 1 billion and USD 5 billion, and Tier III – revenue less than USD 1 billion.
Key companies profiled in this market research report include Oerlikon (Switzerland), D-Coat GmbH (Germany), NeoCoat SA (Switzerland), Crystallume (US), Element Six (London), sp3 Diamond Technologies (US), Advanced Diamond Technologies, Inc. (US), Blue Wave Semiconductors (US), Diamond Product Solutions (Netherlands), and JCS Technologies (Singapore).
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The report covers the market for diamond coatings across different industry verticals and regions. It aims at estimating the market size and potential of the diamond coatings market across different technologies, substrates, end-use industries, and regions.
The report also includes an in-depth competitive analysis of key market players, along with their company profiles, recent developments, and key market strategies.
The report provides insights on the following pointers:
- Market Penetration:Comprehensive information on diamond coatings offered by top market playersn
- Product Development/Innovation:Detailed insights on upcoming technologies, research & development activities, and new product launches in the diamond coatings market
- Market Development:Comprehensive information about lucrative emerging markets – the report analyses the market for diamond coatings across varied regions
- Market Diversification:Exhaustive information about new products, untapped geographies, recent developments, and investments in the diamond coatings market
- Competitive Assessment:In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the diamond coatings market.