The market for Diamond coating is expected to grow at a CAGR of over 6% during the forecast period. The major factor driving the market is the increasing demand from the consumer electronics industry. On the flip side, high capital investment is expected to hinder the growth of the diamond coatings market.
– Due to its properties such as high thermal conductivity, strength, electrical resistivity and low coefficient of friction diamond coatings find its extensive use in consumer electronics.
– Asia-Pacific is expected to dominate the market owing to the increasing consumption from countries such as China, India, and Japan.
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Key Market Trends
Growing Demand from Electrical & Electronics Industry
– Diamond is the hardest material and it possesses unique qualities such as high thermal conductivity, high resistivity and low coefficient of friction. These properties make diamonds suitable for diverse applications. However, extensive use of diamond for these applications would be costly so the technologies such as CVD & PVD were developed to make it feasible.
– Diamond-like carbon or diamond coating is a kind of amorphous carbon which hold the properties of diamond such as high electrical resistivity making it favorable for new generation high-performance consumer electronics gadgets.
– With the advent of new technologies, the global electronics industry has been under pressure to deliver better every time. New technologies like 5G, Internet of Things, and augmented virtual reality rely on materials that are strong and difficult to machine.
– The consumer electronics segment accrued about USD 420 billion by the end of 2019 and is forecasted to reach USD 565 billion by 2024 at a CAGR of 7%. This growth is expected to boost the diamond coatings market during the forecast period.
– Hence, the rising demand for diamond coating from electrical & electronics industry globally is expected to drive market growth during the forecast period.
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