Key players operating in the Titanium Nitride Coating market are Acree Technologies Inc., BryCoat Inc., Beamalloy Technologies, LLC, IHI Ionbond AG, Northeast Coating Technologies, Richter Precision, Inc., SurfTech, Surface Engineering Technologies LLC, Techmetals, Inc., and Vergason Technology, Inc.
Vancouver, British Columbia, May 03, 2021 (GLOBE NEWSWIRE) — The global titanium nitride coating market size is expected to reach USD 8.29 Billion in 2028 and register a steady revenue growth of 17.8% over the forecast period, according to latest analysis by Emergen Research. Market revenue growth is expected to be supported robustly by rapidly increasing demand for high-quality tools, injection molding equipment from various end-use industries such as automobile, chemicals, paints and coatings, and printing, as well as increasing requirement of corrosion-resistant coatings and materials for manufacturing of surgical devices and food processing equipment. Titanium nitride, also known as TiN or tinite, is a kind of extremely hard material, which is used to coat various substrates such as aluminum, steel titanium alloys, and carbide. Titanium nitride coating helps to improve some physical properties of substrates such as impart hardness, low electrical resistivity, high corrosion resistance, and thermal stability.
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A thin layer of titanium nitride can be applied on substrates through various deposition methods including physical vapor deposition, sputtering, ion plating, and chemical vapor deposition. Demand for titanium nitride coating is rising in medical device and food processing equipment manufacturing industries due to its non-toxic nature. titanium nitride is also used to coat jewelry, forks of bicycles and motorcycles, and automobile trims.
Further Key Findings from the Report:
- In January 2020, BUBBA launched new line of fishing shears. These shears are equipped with non-slip grip handles and titanium-nitride coated blades.
- Titanium alloys segment is expected to register a relatively faster revenue CAGR throughout forecast period. This can be attributed to increasing application of titanium in aircraft industry due to unique physical properties such as strength, lightweight, and toughness.
- North America accounted for a 31.5% revenue share in the global titanium nitride coating market in 2020. Rising application of titanium nitride coating in pharmaceutical and food processing equipment manufacturing industries, rapid development of aerospace industry, and increasing demand for high-quality cutting tools are fueling revenue growth of the market in this region.
- Key players operating in the market are Acree Technologies Inc., BryCoat Inc., Beamalloy Technologies, LLC, IHI Ionbond AG, Northeast Coating Technologies, Richter Precision, Inc., SurfTech, Surface Engineering Technologies LLC, Techmetals, Inc., and Vergason Technology, Inc.
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For the purpose of this report, Emergen Research has segmented the global titanium nitride coating market based on deposition technique, surface material, application, target type, and region as follows:
- Deposition Technique Outlook (Revenue: USD Billion; 2018–2028)
- Physical Vapor Deposition
- Ion Plating
- Chemical Vapor Deposition
- Surface Material Outlook (Revenue: USD Billion; 2018–2028)
- Titanium Alloys
- Application Outlook (Revenue: USD Billion; 2018–2028)
- Cutting Tools
- Target Type Outlook (Revenue: USD Billion; 2018–2028)
- Plane Target
- Rotating Target
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- Regional Outlook (Revenue: USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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