As per a study by Fact.MR, the global hard coatings market is expected to surpass a valuation of US$ 750 million by the end of 2021 in comparison to US$ 600 million registered between 2016 and 2020. Thanks to the extensive uptake across the food processing and healthcare industry, the market demand is expected to project growth at a CAGR of 7% during the forecast period 2021 to 2031.
Ongoing expansion food processing industry is fueling the demand for hard coatings. According to Fact.MR, hard coatings sales growth is primarily sustained by demand in the food processing sector. Rising demand for ready-to-eat food will continue creating opportunities for sales within the industry.
As a result of steady expansion of the food processing sector, the need for well-processed and hygienic food is multiplying. Since hard coatings prevent food spoilage from abiotic and biotic environmental factors, their demand is expected to soar.
Prospects for application in healthcare also are giving impetus to the hard coatings market. Hard coatings are especially used in the medical devices and equipment manufacturing domains. Coatings manufactured using physical vapor deposition (PVD) process and titanium nitride are widely sold in the healthcare sector.
Fact MR identifies the U.S. and China as highly lucrative markets for sales. Rising healthcare spending and demand for advanced facilities will continue supporting growth in both countries. The China market is forecast to reach a valuation of US$ 250 Mn, expanding at 10% CAGR by 2031.
“Manufactures are investigating the scope for application of hard coatings in the food processing industry. They are focusing on developing innovative products such as edible coating to preserve food quality and address the increasing demand for hygienic processed food products,” says the Fact.MR analyst.
Request a report sample to gain comprehensive insights at
https://www.factmr.com/connectus/sample?flag=S&rep_id=6404
Key Takeaways from Hard Coating Market Analysis
Key Drivers
Key Restraints
Competitive Landscape
Leading player operating in the hard coating market are focusing on launching new products and engaging into strategic collaborations and mergers & acquisitions to maintain their lead and strengthen their global footprint. Some notable developments in the hard coatings industry analysis include:
Request Hard Coatings Market customization at
https://www.factmr.com/connectus/sample?flag=RC&rep_id=6404
Some of the prominent players operating in the hard coating market profiled by Fact.MR are:
More Valuable Insights on Hard Coating Market
Fact.MR, in its new report, offers an unbiased analysis of the global hard coating market, analyzing forecast statistics through 2019 and beyond. The survey reveals growth projections on in hard coating market with detailed segmentation:
Key Questions Covered in the Hard Coating Market Report
Read Fact.MR Exclusive Article on Emerging Frontiers in the Global Dental Industry
https://www.factmr.com/article/110/emerging-frontiers-in-the-global-dental-industry
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
Neha Bhosle
US Sales Office:
11140 Rockville Pike Suite 400 Rockville, MD 20852 United States Tel: +1 (628) 251-1583
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A, Jumeirah Lakes Towers, Dubai, United Arab Emirates Email: [email protected] Website: https://www.factmr.com
Media ContactCompany Name: Fact.MRContact Person: Neha BhosleEmail: Send EmailPhone: 6282511583Address:US Sales Office: 11140 Rockville PikeCity: RockvilleState: MarylandCountry: United StatesWebsite: https://www.factmr.com