Blade Coatings market size is forecast to reach $XX million by 2025, after growing at a CAGR of 4.5% during 2020-2025, owing to the increasing usage of coated blades in various end-use industries such as automotive, aerospace, wind power, food processing, electronics, consumer appliances, and healthcare, as coatings enhance the wear resistance of the blade, and it increases the hardness of cutting edge of the blade. The coated blades are used for various applications such as slicing, chopping, piercing, scalpel for surgery, gas turbine, wind turbines, razor blade, and more. Thus, it is anticipated that these extensive applications of blade coatings in various end-use industries due to its properties will drive the blade coatings market substantially during the forecast period.
The report: “Blade Coatings Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the blade coatings Industry.
By Type: Titanium Nitrate (TiN), Titanium Carbide (TiC), Boron Carbide, Teflon, and Others
By Technology: Water Based, Solvent Based, High Solids, Powder, and Others
By Application Method: Brush, Roll, Spray Equipment, and Others
By End-Use Industry: Automotive, Aerospace, Wind Power, Food Processing, Healthcare, Electronics, Consumer Appliances, and Others
By Geography: North-America, South-America, Europe, Asia Pacific, and RoW
- Asia Pacific dominates the blade coating market, owing to the increasing demand of well-coated turbine blades from aerospace industries in the region. According to Boeing India is expected to drive the demand for 2,300 aircrafts worth US$320 billion over the next 20 years. Increasing per capita income and the population is the key factor driving the aviation industry in the Asia Pacific region.
- The demand for coated blades is rising as it increases production in numerous industries by reducing tool breakage, tool costs, and scrap rates. Also, these coated blades offer excellent substrate adhesion and enhanced fill, which is driving its demand in the market.
- Due to the Covid-19 pandemic, most of the countries have gone under lockdown, due to which the operations of various industries including coating are disruptively stopped, which is hampering the blade coatings market growth.
By Technology – Segment Analysis
The powder-based blade coating segment held the largest share in the blade coatings market in 2019, owing to its pollution prevention nature. Powder-based blade coating is eco friendly as no solvents are used in the coating formulation and there is little or no hazardous waste to dispose of. Powder-based blade coating reduces the cost of the material as during the method no solvent flash is required, no coatings mix room is needed, low ventilation is required and less floor space is required. Also, powder-based blade coating improves the finish quality and durability of the material. Moreover, this method has good corrosion resistance, coating utilization efficiencies that reach 95-99%, a variety of resins available and no hazardous overspray, waste sludge, or contaminated water. All these extensive properties of this method are the key factor anticipated to boost the demand for powder-based blade coating during the forecast period.
By End-Use Industry – Segment Analysis
The healthcare industry held a significant share in the blade coatings market in 2019 and is growing at CAGR of 5.2%, owing to increasing usage of scalpels blade in the healthcare industry for skin incisions. Surgical care is necessary for administrating diverse health conditions such as injuries, obstructed labor, malignancy, infections, and cardiovascular disease. Surgical blades are often used during surgical procedures for cutting skin and tissue. Surgical blades are typically made with stainless steel or carbon steel and are mostly ceramic coated. According to the India Brand Equity Foundation (IBEF), the Indian healthcare market can increase three-fold to Rs 8.6 trillion (US$ 133.44 billion) by 2022. Thus, with the increasing population, the demand for surgeries is also increasing as surgeries are an indispensable component of a functioning health system, which is anticipated to drive the blade coatings market during the forecast period.
By Geography – Segment Analysis
Asia Pacific region held the largest share in the blade coating market in 2019 up to 30%, owing to increased demand for aircraft in the region. Aircraft require high-pressure well-coated turbine to enhance the oxidation/hot corrosion resistance of the turbine blades. Today's jet engine operating temperatures results in the melting of the blade as they suffer from accelerated oxidation depending on the environment and hot corrosion. Thus, blade integrity is critically dependent on these coatings and ceramic thermal barrier coatings. According to the International Trade Administration (ITA), in 2019 China was the world’s second-largest civil aerospace and aviation services markets and one of the fastest-growing markets. In 2016, according to Boeing, China is estimated to require around 6,810 new commercial aircraft, valued at USD 1 trillion, over the next two decades. By the end of 2018, China had more than 59 airlines and 3,615 civil aircraft (an increase of 10% over 2017). According to China’s 13th Five Year Plan (2016-2020), by 2020, China will have more than 4,500 civil aircraft, and by 2018, the number of Chinese civil airports had grown to 235. According to the International Trade Administration (ITA), in 2018 the Indian government spent a total of $645 in the civil aviation sector. The increasing demand from the aviation industry is anticipated to drive the blade coatings market.
Drivers – Blade Coatings Market
- Growing Wind Power Sector
As a consequence of the drastic increase in energy demand, the conventional sources of energy are depleting very fast. Hence, the need to expand and utilize renewable energy sources like wind power is growing. The wind power sector is increasing, as the use of renewable energy sources results in less emission of greenhouse and other harmful gases such as SO2. The modern wind turbine is being increasingly used in the wind power sector as they are cost-effective, more reliable, and have scaled up in size to multi-megawatt power ratings. Growing adoption of wind power is leading the entire nation toward self-sufficiency and energy independence and in addition is boosting the coated blade market, which acts as a driver for the blade coating market during the forecast period.
- Increasing Healthcare Investments by various Governments
The blade coating market growth is spurred by the rapid expansion of the healthcare industry mainly due to the growing population, urbanization, increasing disposable income, and increasing demand for advanced surgical equipment across the regions. Blade coating is used to reduce tissue adhesion on various surgical ablation tools (blades, knives), allowing for improved cutting accuracy and easier clean-ability of devices for the surgery. Moreover, the growing investment in healthcare services is strengthening the healthcare industry. In 2014, China spent approximately USD992 billion on health care, where 38 percent was financed by publicly financed health insurance, private health insurance, or social health donations and 30 percent was financed by the central government and local governments. In 2018, the Australian Government announced to drive a new era of better health care in Australia it will invest $1.3 billion in the Health and Medical Industry Growth Plan. According to the Thailand Board of Investment Thailand is now becoming a key player in the $2.3 trillion global medical industry. The blade coating market will be flourished by the cumulative healthcare investments as with the increasing healthcare industries across the world demand for the coated surgical blades will also increase, which acts as a driver for the market during the forecast period.
Challenges – Blade Coatings Market
The coatings industry has been facing many environmental challenges with the increasing focus on complying with state and local regulations for wastewater discharge. Such as the National Pollutant Discharge Elimination System (NPDES), this permits discharge limits and conditions for discharges from municipal wastewater treatment facilities to waters of the United States. The most commonly used technique for blade coating namely the powder coating method has a considerable amount of metals, oil & grease, and suspended solids in its wastewater streams generated during cleaning and pretreatment phases. Thus, it becomes complicated for powder coating manufacturers to meet many state and local environmental regulations because of their wastewater streams, which acts as a restrain for the blade coating market.
- Covid-19 Impact on The Blade Coatings Market
Due to the Covid-19 outbreak, the blade coating manufacturers are facing issues such as delays in receiving raw materials especially from China, which is further resulting in delayed shipments to the customer. Also, the quality of some raw materials has declined considerably and the shipments orders are being heavily affected due to the non-availability of vessels and blank sailing. Since the government has removed surgical blades from the list of banned export items; the export of coated surgical blades is smoothened.
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the blade coatings market. In 2019, the market of blade coatings has been consolidated by the top five players accounting for xx% of the share. Major players in the blade coatings market are Aculon Inc., Atlas Industrial Coatings Co., BASF SE, Castolin Eutectic Group, Chromalloy Gas Turbine LLC, Mankiewicz Coatings, LLC, Oreste Frati SRL, PPG Industries Inc., The 3M Company and William Pinder & Sons Ltd.
- In June 2016, BASF SE launched innovative coating RELEST Wind LEP S for rotor blades. RELEST Wind LEP S coatings are designed for the wind energy sector to protect the blade from damages which can be caused by weather influences such as UV radiation.