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 MarkNtel Advisors' 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.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Regions Covered||North America: USA, Canada, Mexico|
|Europe: Germany, The UK, France, Italy|
|Asia-Pacific: China, India, Japan, South Korea, Australia|
|South America: Brazil, and Argentina|
|Middle East & Africa: UAE, Saudi Arabia, South Africa|
|Key Companies Profiled||Bunty LLC, Ion Vacuum (IVAC) Technologies, Corp., SADOSA, SA de Cv, OC Oerlikon, Acree Technologies Inc., PVD Titanium Coating (M) Sdn Bhd, Brycoat Inc., Beamalloy Technologies, LLC, Nissin Electrics co., Ltd., Northeast coating Technologies|
|Unit Denominations||USD Million/Billion|
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.
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 MarkNtel Advisors 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.
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.
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.
According to MarkNtel Advisors, 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:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
A. The historical data has been provided since 2016, while the base year is 2020, and the data forecast is up to 2026
A. The measuring units for the market size/industry size or the market value are USD Million and thousand units.
A. The Global Titanium Nitride Coating Market is forecast to grow at a CAGR of 8% during 2021-26.
A. Bunty LLC, Ion Vacuum (IVAC) Technologies, Corp., SADOSA, SA de Cv, OC Oerlikon, Acree Technologies Inc., PVD Titanium Coating (M) Sdn Bhd, Brycoat Inc., Beamalloy Technologies, LLC, Nissin Electrics co., Ltd., Northeast coating Technologies are few of the leading players in the Global Titanium Nitride Coating Market.
A. Physical vapor Deposition is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
A. North America continues to grow at the highest CAGR during 2021-26, thereby offering immense opportunities for market players of the Global Titanium Nitride Coating market.