Hard Coatings Market – Scope and Opportunities Analysis 2028 Fact.MR – a market research and competitive intelligence provider, anticipates the global hard coatings market to top US$ 1 Bn by 2031, expanding at nearly 7% CAGR, according to a recently published study on the landscape. Growth is likely to be nudged by extensive uptake across the medical devices & equipment manufacturing industry. Historically, sales of hard coatings increased at a CAGR of over 6% from 2016 to 2020. In terms of revenue, the market grew from approximately US$ 600 Mn in 2016 to over US$ 750 Mn in 2020. While prospects remained sluggish across several industrial verticals amid the COVID-19 crisis, the food processing segment majorly sustained sales, given the increased demand for instant foodstuff during the lockdown period. For detailed insights on enhancing your product footprint, request for a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=6404 Future growth prospects are equally reliant on the ever-broadening food processing industry. With anticipated increase of around 70% in global food demand by 2050, the need for processed and hygienic food is multiplying. Hence, advanced processing solutions that deploy hard coatings is on the incline, with key manufacturers introducing innovative food coating product lines. For instance, in June 2021, AgroFresh Solutions Inc. debuted edible plant-based coatings for fresh produce under its VitaFresh Botanicals brand. Key Takeaways from Market Study
By deposition technique, hard coatings based on physical vapor deposition to experience nearly 5% CAGR Oxide hard coating sales to expand highest by material, expanding at a CAGR close to 8% by 2031 Sales of boride hard coatings to be valued at above US$ 450 Mn by 2031-end Hard coatings made from nitrides to expand robustly, surging at nearly 7% CAGR High uptake in medical device manufacturing bolstering U.S. growth prospects, reaching over US$ 200 Mn in 2020 China to deploy hard coatings extensively in architectural coatings, topping US$ 250 Mn by 2031 Japan and Canada are other noteworthy markets, expanding at CAGRs of around 4% and 6%, respectively
For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=6404 Key Segments Covered in Market Study Deposition Technique