by The diamond like carbon market comprises materials that exhibit properties between that of diamond and graphite. Diamond like carbon coatings offer high hardness and low friction coefficient, making them ideal for use across various industries including automotive, medical devices, tools and molds, data storage, solar and wind energy equipment, and electronics. These coatings allow reducing wear and friction and increase resistance against corrosion and heat for improved performance and durability of products. The growing electronics sector has been particularly boosting the demand for these coatings for use in various electronic components and semiconductors.
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: 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.
Growing demand: Diamond Like Carbon (DLC) Market demand is driven by the growing electronics industry, with applications such as plasma etch tools, semiconductor manufacturing equipment, data storage devices, and mobile devices fueling market growth.
Global expansion: Leading manufacturers are aggressively expanding their geographical footprint through acquisitions and strategic collaborations to cater to the growing global demand, especially in Asia Pacific and Latin America.
Market Key Trends
One of the key trends gaining traction in the diamond like carbon market is the increasing adoption of PECVD (plasma enhanced chemical vapor deposition) technique. PECVD allows depositing diamond like carbon coatings at lower temperatures compared to traditional techniques like magnetron sputtering. This enhances film quality and compatibility with substrates. It is increasingly being used for sophisticated applications requiring conformal coatings.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the diamond like carbon market is moderate as huge capital investments are required for research and development. Additionally, existing players have established brand names and customer loyalty.
Bargaining power of buyers: In the Diamond Like Carbon Market challenges and opportunities are shaped by the moderate bargaining power of buyers. Buyers have various substitute options available and switching costs are relatively low. However, established suppliers have created product differentiation through patents and proprietary technologies.
Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of substitute raw materials and components. Suppliers do not have a significant influence over prices in the market.
Threat of new substitutes: The threat of new substitutes is moderate as other carbon based films such as amorphous hydrogenated carbon films are emerging as economical substitutes. However, diamond like carbon offers superior properties that are difficult to match.
Competitive rivalry: The competitive rivalry is high owing to presence of numerous global and regional players offering similar products. Players compete based on technological innovations, quality, and price.
Geographical Regions: North America accounts for the largest share of the global diamond like carbon market both in terms of value and volume. Large presence of end-use industries such as automotive, electronics, healthcare, and solar panels drives the market.
Asia Pacific is poised to be the fastest growing region during the forecast period due to rising industrialization, growing disposable incomes, and evolving end-use industries. Countries such as China, India, Japan, and South Korea are industrial and technological hubs boosting regional market growth.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
Ravina Pandya
Ravina Pandya,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, chemical and materials, etc. LinkedIn
