Diamond Coatings Market

Diamond Coatings Market Size -2023-2028

The Diamond Coatings Market size was valued at $ 1.60 billion in 2022, which is predicted to reach $ 4.22 billion by 2028, with a CAGR of 7.7% over the foreseen period.

The expansion of the diamond coatings market is primarily driven by the escalating call for diamond-coated medical devices, metal cutting tools, and mechanical and electronic equipment in Europe and North America's growing markets. Diamond has a wide range of properties. It is the hardest known material, chemically inert, and resistant to wear. It is also optically transparent from ultraviolet (UV) to far infrared (IR). The coating is carried out using coal feed gas, mainly methane diluted with hydrogen to approx 1 to 2% by mole, which passes through the chamber and is exposed to a combination of lasers using CVD and PVD technologies. Due to extreme temperature and pressure, diamond particles adhere to the surface of a material or substrate. 

The growing call for these coatings in the medical industry and the superior life-enhancing properties of cutting tools are some of the main factors driving market expansion. Continuous research and development are carried out in the medical industry to better diagnose, prevent, and treat diseases in patients. Therefore, due to the superior mechanical properties of biocompatibility and corrosion resistance, the diamond coatings market is emerging as an important technology for biomedical applications.

Diamond Coatings Market Drivers:

Diamond is an ideal element due to its high hardness and resistance, low coefficient of friction, and chemical stability. Diamond coating is done using advanced surface engineering technologies such as CVD and PVD and has been escalating. Diamond tools have great potential in various machining applications. It is advantageous in the manufacture of cutting tools with complex geometry, such as drills. The diamond coating has improved the life of tools and equipment. This has increased its uses in lightweight and heavy-duty components, generating significant interest among end-users.

Diamond Coatings Market Restraints:

The diamond coating process requires a large capital investment. CVD and PVD technologies are capital intensive, and the equipment employed in these coating technologies requires special operating conditions, such as high temperature and controlled vacuum operating conditions. The cost of manufacturing diamond-coated equipment is high, and with some of the world's leading players controlling the market, the cost of equipment and tools for the end-use industry is high. The coating process varies by application. Different equipment is needed for different applications. The cost of diamond coating machines is very high. Therefore, the end-user cannot install their machines on diamond coating tools and equipment. These attributes are impeding the demand of the market. 

Opportunities in the Diamond Coatings Market:

Diamond coating is done to improve the properties of substrates. Depending on the thickness of the coating layer and the precursor material employed, the substrate material properties can be improved. Companies involved in the diamond coating process must invest significantly to continually update their product portfolio to meet new and growing calls from end-users. The main players in the diamond coatings market invest each year in R&D activities to update and improve their offerings according to the end-use industry's calls. Therefore, innovation in technologies should create a broader scope for the diamond coatings market in the near future.

Challenges in the Diamond Coatings Market:

Coating delamination is a major problem in the diamond coating process. The strong adhesion between the coating and the substrate is a key factor determining the coating's performance. The introduction of diamond tools for the industrial machining of materials was initially hampered primarily by coating adhesion difficulties. However, this difficulty was solved by various R&D activities carried out by diamond coating companies. With tungsten carbide substrates, various techniques have been developed to improve bond strength. However, the diamond coating on ceramic and carbide tools still requires extensive research and development. This remains a challenge as the experimental results have not been consistent in many cases. There is still much to do in R&D before an accurate assessment of the technological impact of development can be made.

DIAMOND COATINGS MARKET REPORT COVERAGE:

Diamond Coatings Market Segmentation:

Diamond Coatings Market - By Technology:

• CVD

• PVD

CVD diamond coatings represent the largest size on the market. In the CVD process, diamond is deposited from a carbon gas phase and can cover large areas and curved surfaces.

Diamond Coatings Market - By Substrate:

• Metal

• Ceramic

• Composite

Diamond coating is highly dependent on the chemistry of the substrate. Atomic, molecular hydrogen, and carbon species cause reactions, especially with ceramic substrates, modify some metallic substrates and form interlayers, thus delaying nucleation, expansion, and formation of the diamond coating

Diamond Coatings Market - By End-use:

• Electronics

• Mechanical

• Industrial

• Medical

• Automotive

Diamond Coatings Market - By Region:

 The Diamond Coatings Report includes the segmentation of Regions:

•  North America 

•  Europe 

•  Asia Pacific 

•  Latin America 

•  Middle East & Africa 

In terms of consumption, Asia-Pacific accounted for a significant share of the worldwide diamond coatings market in 2021. This trend is also predicted to continue during the foreseen period. The Asia-Pacific diamond coatings market is predicted to grow at a significant rate during the foreseen period. The presence of well-established end-user industries, such as electronics and automotive fuels, is driving the call for diamond coatings in the Asia Pacific. Increased investment in component manufacturing, followed by medical devices in countries such as China and India, is predicted to drive the call for diamond coatings in these countries between 2021 and 2026. Europe is predicted to follow Asia-Pacific in the diamond coatings market between 2021 and 2026. Europe is likely to be followed by North America during the foreseen period. Europe and North America are mature markets. Markets in these regions are predicted to develop at a moderate expansion rate during the foreseen period. The markets in Latin America, the Middle East, and Africa are predicted to grow at a slow pace during the foreseen period.

Impact of Covid-19 on the Diamond Coatings Market:

The coronavirus pandemic has paralyzed the Indian economy. Like several businesses, the jewelry industry has also been hit hard by a long list of postponed events, shows, exhibitions, and weddings over the next so many months. The major jewelry brands had anticipated that 2020 would be a gateway to a multitude of business opportunities. Production, sourcing, and export were aligned to achieve the end of the year's desired goals. However, the coronavirus was a major factor that disrupted the smooth running of operations. The activity has fallen dramatically, with 6-10-carat diamonds and large, high-end jewelry, popular in the Middle East, dropping significantly. The companies have lost their profitability, and the management of the main players duly intervened to fight the crisis.

Diamond Coatings Market Key Players:

The major players covered in the diamond coatings market report are 

1. OC Oerlikon Management AG

2. D-Coat GmbH

3. NeoCoat SA

4. Crystalline

5. Element Six UK Ltd.

6. SP3 Diamond Tech.

7. Advanced Diamond Technologies.

8. Blue Wave Semiconductors

9. Diamond Product Solutions

10. JCS Technologies Pte Ltd

11. United Protective Technologies, LLC.

12. Specialty Coating Systems Inc.

13. Hydromer

14. Armoloy of Connecticut, Inc.