Diamond Coatings Market is expected to reach US$ 3.7 billion by 2028

Growing Demand for Diamond-Coated Medical Devices, Metal Cutting Tools, and Mechanical and Electronic Equipment Drives Diamond Coatings Market

According to our latest market study on "Diamond Coatings Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology, Substrate, Application, and Geography," the market is expected to grow from US$ 2.7 billion in 2022 to US$ 3.7 billion by 2028; it is estimated to record a CAGR of 5.4% from 2022 to 2028.

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Diamond coating is a method of depositing a uniform layer of diamond on materials such as glass, plastics, metals, ceramics, and composites. The coating is achieved through a carbon feed gas, primarily methane diluted by hydrogen to about 1–2 mol percent, which is passed through the chamber and is exposed to a combination of lasers via various technologies—diamond particles bond to the surface of a material or substrate due to the extreme temperature and pressure. Substrates are coated with diamonds to improve their wear resistance, hardness, corrosion resistance, and other characteristics. Diamond coatings have become popular due to their mechanical, electrical, and optical properties. Diamond coating is an excellent solution for various surface performance issues.

The growing demand for diamond-coated medical devices, metal cutting tools, and mechanical and electronic equipment drives the diamond coatings market. Diamond is an ideal element for coating due to its high thermal conductivity, low friction coefficient, exceptional wear properties, high hardness and strength, and chemical stability. Diamond coatings are obtained using advanced surface engineering techniques such as chemical vapor deposition and physical vapor deposition and are increasingly investigated in cutting tool applications. Diamond tools have great potential in many machining applications. Diamond coatings are helpful in making complex-shaped cutting tools such as drill bits. The use of diamond coating has extended the life of tools and equipment. This has increased the use of lightweight, durable components. The diamond coating process requires a significant capital investment. The treatment technologies are capital intensive. In addition, the equipment used in coating technologies requires specific operating conditions such as high temperatures and controlled vacuums, which limits the diamond coating market growth.

Increasing demand for diamond-coated medical devices and equipment and the potential for using diamond-coated tools in the construction industry drive the growth of the diamond coating market. Diamond coating has been increasingly explored for cutting tool applications. Diamond-coated tools have massive potential in numerous machining applications. It is advantageous in fabricating cutting tools with complex geometry, such as drills. Diamond coating amplifies the life of tools and equipment. Therefore, it is increasingly used in lightweight and high-strength components, resulting in significant interest among end-users. These factors are anticipated to boost the global diamond coatings market in the coming years.

Based on technology, the diamond coatings market is segmented into chemical vapor deposition and physical vapor deposition. The chemical vapor deposition segment is expected to register a higher CAGR from 2022 to 2028. In chemical vapor deposition, diamond is deposited from a carbon gas phase, and large areas and curved surfaces are coated. In this process, diamond deposits can grow thick enough to become free-standing parts, cut and finished to the desired size and shape. The chemical vapor deposition process typically includes the maintenance of a plasma containing atomic hydrogen over the growth surface and requires a carbon source such as methane (CH4). The chemical vapor deposition process overcomes many of the limitations of high-pressure processes.

Manufacturers are launching new products and entering into collaborations and partnerships to provide advanced products. In January 2021, Oerlikon Balzers launched their new Baldia diamond coatings line for machining and drilling highly abrasive materials. In February 2022, the Technical University of Munich (TUM) collaborated with Oerlikon, a Swiss engineering and technology company, to advance additive manufacturing technologies. In February 2020, D-Coat, a leader in diamond coating technology, was acquired by Oerlikon in Germany.

Oerlikon Balzers; NeoCoat SA; D-Coat GMBH; Crystallume Corporation; SP3 Diamond Technologies; Blue Wave Semiconductors; Advanced Diamond Technologies, Inc.; Diamond Product Solutions; JCS Technologies Pte Ltd.; and United Protective Technologies, LLC are a few key players profiled in the study of the diamond coatings market. Several other major companies were analyzed in this research study to get a holistic view of the market and its ecosystem.

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