Hard Coatings Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Hard Coatings Market Analysis :

Hard coating, also known as hard anodizing, is an electrochemical material that is used as a corrosion-resistant coating. It is applied to aluminum surfaces and aluminum alloy parts or pieces to form hard surface coating using copper. Hard coatings are used in plumbing fixtures, sporting goods, metal dinnerware, eyeglass frames, and door hardware. Hard coatings are used as decorative coatings, cutting tools, optics, gears, and injection molding dies. They improve the service life of assemblies and pipelines, thereby reducing costs related to repair and premature replacements. They provide durability to a product and the ability to carry heavy weight. Hard anodized metal structures are used in the construction sector to provide durable escalators, lifts, lobbies, roofs, exteriors; and most widely used in satellites, space, and communication devices such as computer hardware and a number of consumer products.

COVID-19 scenario analysis 

• The novel coronavirus (COVID-19) outbreak has led to a temporary slowdown of the economic growth of countries across the world.  
• Construction, transport, and chemical manufacturing sectors are likely to be affected by the coronavirus pandemic. This will lead to a decrease in demand of electrochemical products.
• Additionally, disruption in the supply chain lead to low supply for electrical machinery, machinery & mechanical appliances, organic chemicals, plastics & optical, and surgical instruments, thus negatively impacting the market growth.

Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

The global hard coatings market is growing at a healthy rate. New developments in the healthcare market and rise in demand for medical equipment across the globe are some of the main factors responsible for the growth of the global hard coatings market. In addition, increase in focus on new product development, innovations, and research & development activities is expected to generate lucrative opportunities for the global hard coatings market growth.

On the contrary, hard coatings value chain is capital-intensive due to high cost of initial investment, ownerships costs, and transportation costs. This is likely to hamper the global hard coatings market. In addition, the development of cheaper substitutes is expected to hamper the growth of the overall market.

New product launches to flourish the market

Hard coatings are composed of materials, such as nitrides, oxides, carbides, carbon-based, borides, and multi-component. Cutting tools is the fastest growing segment of the hard coatings markets.
NALCO launched a new product Aluminum Alloy 1200 (AA 1200) to its product range to boost the Make in India initiative. Commercial aluminum alloy grade 1,200 has unique features such as high corrosion resistance and boasts of high thermal conductivity and reflectivity.

Surge in usage in hard coating in industrial applications

There is an incredible demand for electrochemical across the globe.  Also, urbanization and globalization, which lead to the development of aerospace and developing technologies, have driven the growth of automotive companies. In each of these industries, use of metals and alloys is done for manufacturing components. This acts as the major main driving force of the global hard coatings market. 

Key benefits of the report

• This study presents the analytical depiction of the global hard coatings market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global hard coatings market share.
• The current market is quantitatively analyzed to highlight the global hard coatings market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the hard coatings market research report:

• Which are the leading players active in the global hard coatings market?
• What are the upcoming trends in the global hard coatings market?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?

 Hard Coatings Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights