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.
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The report "Diamond Coatings Market by Technology (CVD, PVD), Substrate (Metal, Ceramic, Composite), End-Use Industry (Electronics, Mechanical, Industrial, Medical, Automotive), and Region (Europe, North America, APAC, MEA, South America) - Global Forecast to 2022",
The increasing demand for diamond coated medical devices and equipment, and enhanced life of cutting tools and equipment are driving the diamond coatings market.
Diamond coatings are used in various end-use industries such as electronic, mechanical, industrial, medical, and others. These end-use industries have spurred the growth of the diamond coatings market.
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In the field of medical technology, new methods are constantly being researched to ensure better prevention, diagnosis, and treatment of diseases. Due to its superior tribological and mechanical properties, along with corrosion resistance, biocompatibility, and hemocompatibility, the diamond coating has emerged as a promising technology for biomedical applications.
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Diamond coated tools have great potential in various machining applications and offer an advantage in the fabrication of cutting tools with complex geometry such as drills. The increased usage of lightweight high-strength components has also resulted in significant demand for diamond coating tools.
Based on technology, the CVD segment is projected to lead the diamond coatings market during the forecast period.
CVD is a widely used material processing technology. This technology is used for thin film deposition over substrate material in various end-use industries.
The CVD process can be performed through various methods, such as atmospheric pressure CVD (APCVD) and low pressure CVD (LPCVD), among others, and with a wide range of precursor materials. The demand for CVD diamond coatings technology is growing due to its low cost and ability to coat any shape.
Based on substrate, the metal segment is projected to lead the diamond coatings market during the forecast period.
Diamond coatings on steel substrates are expected to generate a new solution for machine parts with extreme loads by friction and wear. Steel is widely applied in the industry.
Diamond coatings on steel provide several applications due to diamond’s intrinsic properties. CVD diamond coatings act as a protective film, hardens the surface, increase thermal conductivity, and reduce friction coefficient.
Due to this, the metal segment is projected to lead the diamond coatings market during the forecast period.
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Based on end-use industry, the electronic segment is projected to lead the diamond coatings market during the forecast period.
CVD diamond has a unique combination of the highest known thermal conductivity with high electrical resistivity and other properties, which make it a unique material for the new generation of high-performance electronics and computer products. Optical windows, electrical components, heat sinks, wear parts, and prosthetics require strength, adaptability, and long life of superabrasives.
These application areas are fueling the demand for diamond coated tools and equipment.
APAC is expected to lead the diamond coatings market during the forecast period.
APAC is expected to be the fastest-growing diamond coatings market during the forecast period. Due to the availability of cheap labor, and economical and accessible raw materials, there are significant foreign investments, which are also driving the market growth in the region.
In addition, strengthening the economy of countries such as China, Indonesia, Taiwan, and India is attracting investments in the region. These factors are driving the APAC diamond coatings market.
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Key companies operating in the market 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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