by Diamond Like Carbon or DLC finds wide applications in the automotive industry owing to its excellent properties such as high hardness, chemical inertness, low friction and wear resistance. DLC coated components are being increasingly used in engines and transmissions of vehicles for parts like piston rings, cams, and gears to reduce friction and improve fuel efficiency. Furthermore, DLC coated auto parts are more durable and last longer than conventional lubricated metallic parts, helping reduce replacement and maintenance costs for automakers.
The global diamond like carbon market is estimated to be valued at US$ 2.27 Bn in 2024 and is expected to exhibit a CAGR of 6.6% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the diamond like carbon market are Oerlikon Balzers, Ionbond, Techmetals, IHI Ionbond, Kurt J. Lesker Company, Plasma-Therm, Advanced Coating, Diamond Innovations, CemeCon, Surface Technology Systems (STS), Nissan Chemical Industries, AccuCoat, Neocoat, PVD Coatings Ltd, and Covalent Coatings.
The Diamond Like Carbon Market opportunities include its increasing application in new industries like solar panels, medical devices, and emerging technologies such as plasma vapor deposition.Furthermore, the growing demand for durable and chemically inert coatings from various end use industries is expected to drive the adoption of DLC coatings.
Technological advancements are also fueling the growth of diamond like carbon market. Researchers are developing new DLC coating technologies that can produce thinner, harder coatings and also control coating properties at a molecular level for customized applications. Novel deposition processes like cathodic arc deposition and plasma immersion ion implantation are enabling the large scale production and commercialization of DLC coatings.
Market Drivers
The primary driver for the diamond like carbon market is its increasing usage in the automotive industry. DLC coated auto components improve engine efficiency, reduce wear and extends the lifespan of parts. The growing automotive production across markets like China and India is driving the need for advanced, durable coated components using technologies like DLC. Strict fuel efficiency norms are also prompting automakers to use friction reducing coatings like DLC.
Current challenges in Diamond Like Carbon Market
In the Diamond Like Carbon Market challenges and opportunities are impacted by factors such as increasing raw material prices and the availability of low-cost substitutes. Raw materials used in manufacturing diamond-like carbon primarily include carbon sources like methane, hydrocarbons, and alloys such as nickel and chromium.
Prices of these raw materials have witnessed a rising trend over the past few years owing to supply chain issues and inflationary environment. This has increased production costs for manufacturers. Also, lack of availability of raw materials locally has increased import dependency translating into high logistics costs. Further, presence of substitutes such as titanium nitride and titanium aluminum nitride coatings at competitive prices provide alternatives to consumers. Continuous technological advancements are required by players to improve product properties and focus on new applications to counter such challenges.
SWOT Analysis
Strength: High hardness and wear resistance properties compared to other coatings. Weakness: High initial investment required for setting up production facilities. Opportunity: Increasing application scope in automotive, medical and electronics industry. Threats: Fluctuating raw material prices and availability of cheaper substitutes.
Geographical Regions
Asia Pacific region dominates the global diamond like carbon market in terms of value and accounted for more than 40% of the total market share in 2024. This is attributed to presence of emerging economies like China, India and South Korea where manufacturing industry has been witnessing strong growth contributing to increased demand. Growth in automotive and electronics sectors have boosted DLC consumption. Countries in the region also hold a major share in global electronics production that requires DLC coatings.
North America region is expected to witness the fastest growth during the forecast period owing to rising automotive sales and growing aerospace industry. Countries like the US have robust aerospace manufacturing base utilizing diamond like carbon coatings in aircraft engines and components. Focus on reducing aircraft weight and increasing fuel efficiency will augment product demand from this end-use sector in the region.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
