Global Titanium Nitride Coating Market Analysis, 2021

Market Overview

Titanium nitride is a hard ceramic material used as a coating on titanium alloys, steel, carbide, and aluminum components to enhance a substrate's surface properties. This coating allows the exterior of a metal surface to exhibit desired physical properties, like electrical conductivity and preferred color.

According to the publisher's research report, Global Titanium Nitride Coating Market Analysis, 2021, the market is likely to grow at a CAGR of around 8% during 2021-26. The market growth attributes to the mounting demand for corrosion & wear-resistant coating in various applications, including the manufacturing of food processing equipment & medical devices. Further, consumption of titanium nitride is significantly increasing due to the surging use of the coating across different end-user industries like chemicals, paints & coatings, automobiles, etc., thereby propelling the market growth.

Impact of COVID-19

The sudden outbreak of the covid-19 pandemic has adversely impacted the overall global economy, especially the manufacturing industry, owing to the lockdown imposed, temporary shutdown of manufacturing units, reduced demand, and disruption in the supply chain. In the initial quarters of 2020, the chemical & material industries were also negatively affected due to a decline in the production of tools, machinery, and equipment. Therefore, the titanium nitride coating market witnessed a significant dip in its sales revenue during this period.

Market Segmentation

Physical Vapor Deposition Accounted for the Largest Market Share

Based on the Deposition Technique, the market segments into Physical Vapor Deposition, Chemical Vapor Deposition (CVD), Ion Plating, and Sputtering. Among these segments, Physical Vapor Deposition acquired the largest share in the Global Titanium Nitride Coating Market in 2019.

Physical vapor deposition is the most used technique owing to its properties, including enhanced erosion resistance property, increased hardness, reduced compressive strength, and higher toughness. Therefore, the segment contributes to the overall growth of the market, reveals the author in their research report, Global Titanium Nitride Coating Market Analysis, 2021.

Medical Devices & Equipment Attained the Highest Market Share

Based on the Application, the market bifurcates into Cutting tools, Aerospace and Aircraft Components, Medical Devices & Equipment, Injection molding equipment, and Decorative products. Out of these segments, Medical Devices & Equipment dominated the Global Titanium Nitride Coating Market in 2019 due to the rising demand for titanium nitride coating in surgical instruments as titanium nitride coating is non-toxic. Additionally, it forms an inert surface barrier to protect the equipment from corrosion and maintain the integrity of the cutting edge longer.

Regional Landscape

North America Dominated Largest Market Share

Geographically, North America held the largest market in the Global Titanium Nitride Coating Market in 2019 due to the burgeoning production of food processing machinery & pharmaceutical equipment in the region. The United States is the largest market for the aerospace industry. Hence, with the growing aerospace & aircraft industries, the demand for titanium nitride coating is soaring in the region. Further, the surging use of high-quality cutting tools is likely to create lucrative opportunities for the titanium nitride coatings market in North America.

Market Driver

Surging Use of the Titanium Nitride Coating across Various End-User Boosting the Market Growth

The titanium nitride coating, widely used across various end-user industries, such as chemicals, paints & coatings, automobiles, etc., offers exclusive properties, including corrosion & wear-resistant and higher toughness & hardness. Further, Titanium nitride coatings have gained popularity as surface treatments for industrial components and manufacturing of high-quality tools, thereby fueling the market growth.

Competitive Landscape

According to the publishers, the industry leaders in the Global Titanium Nitride Coating market are Bunty LLC, Ion Vacuum (IVAC) Technologies, Corp., Sadosa, S.a. de C.v., OC Oerlikon, Acree Technologies Inc., PVD Titanium Coating (M) Sdn Bhd, Brycoat Inc., Beamalloy Technologies, LLC, Nissin Electrics co., Ltd., and Northeast coating Technologies.

Key Questions Answered in the Market Research Report:

1. What are the overall market statistics or estimates (Market Overview, Market Size- by Value, Forecast Numbers, Market Segmentation, and Market Shares) of the Global Titanium Nitride Coating Market?
2. What are the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Titanium Nitride Coating Market?
4. Who are the key competitors, their key strengths and weaknesses, and how do they perform in Global Titanium Nitride Coating Market based on a competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the Global Titanium Nitride Coating Market study?