Growing Demand for Automobiles to Drive Diamond like Carbon Market
According to our latest market study on "Diamond like Carbon Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Pure DLC and Mixed DLC), Application (Drill Bits and Milling Cutters, Saws and Blades, Dies and Molds, Inserts, and Others), and End Use (Automotive, Medical, Packaging, Electronics, Cosmetics, and Others)," the market was valued at US$ 1,521.70 million in 2020 and is projected to reach US$ 2,248.80 million by 2028; it is expected to grow at a CAGR of 4.7% from 2021 to 2028. The report highlights key factors driving the market and prominent players along with their developments in the market.
Diamond-like carbon is an amorphous carbon material, which enhances various properties of the coated material when coated onto other materials. The common properties it enhances include hardness, tribology, coefficient of friction, corrosion resistance, electrical insulation, and adhesive wear resistance. Various metals can be alloyed with DLC to meet specific property requirements. For instance, Silicon-based DLC can withstand greater humidity.
The growing trend of adopting sustainable manufacturing technologies in sectors, including automotive, medical devices, and packaging, is expected to drive the diamond like carbon market.
China and India have the largest population globally. Due to the large population, the rate of vehicular accidents is also high. According to statistics from the Government of India, approximately 500,000 individuals were injured in road traffic accidents in India in 2019. This also increases the demand for medical devices across these countries. India is dependent on the international market to import medical devices, which increases the product's price.
The key players operating in the global diamond like carbon market include IBC Coatings Technologies, LTD.; Oerlikon Groups, Inc.; Richter Precision Inc.; Norseld Pty Ltd; Bunty LLC; Wallwork Heat Treatment Ltd; Micromatter Technologies Inc.; HEF Group; IHI Ionbond Ag; and Dynasil Corporation.
Impact of COVID-19 Pandemic on Diamond like Carbon Market
With the spread of COVID-19 across the globe, most countries declared a health emergency and stopped unessential movements, thereby impacting the supply chain of goods. This also slowed the demand for manufactured goods such as automobiles and automotive components. With the relaxation of the COVID-19 norms, the market conditions resumed with the necessary precautions. The pandemic largely influenced the buying behavior of consumers toward the manufacturing sector. During the initial months of the COVID-19 pandemic, most public places and offices were closed, which led to a considerable drop in the commercial demand for products manufactured using diamond like carbon. However, the global economy is stabilizing, and the demand for manufactured goods and products is expected to grow substantially during the forecast period.
Global Diamond Like Carbon Market Breakdown – by Region
Diamond like Carbon Market Share, Trends & Industry Growth - 2028
Download Free Sample
Diamond-Like Carbon Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Pure DLC, Mixed DLC); Application (Drill Bits and Milling Cutters, Saws and Blades, Dies and Molds, Inserts, Others); End-use (Automotive, Medical, Packaging, Electronics, Cosmetics, Others) and Geography
Diamond like Carbon Market Share, Trends & Industry Growth - 2028
Download Free SampleDiamond-Like Carbon Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Pure DLC, Mixed DLC); Application (Drill Bits and Milling Cutters, Saws and Blades, Dies and Molds, Inserts, Others); End-use (Automotive, Medical, Packaging, Electronics, Cosmetics, Others) and Geography
The report includes the segmentation of the global diamond like carbon market as follows:
Based on type, the diamond like carbon market is segmented into pure DLC and mixed DLC. Based on application, the market is segmented into drill bits and milling cutters, saws and blades, dies and molds, inserts, and others. Based on end use, the market is segmented into automotive, medical, packaging, electronics, cosmetics, and others. By geography, the diamond like carbon market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America. The market in North America is further segmented into the US, Canada, and Mexico. The diamond like carbon market in Europe is further segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The market in Asia Pacific is segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The diamond like carbon market in Middle East & Africa (MEA) is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The market in South and Central America is segmented into Brazil, Argentina, and the Rest of South and Central America.
Contact Us
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com