Report : Asia Pacific Diamond Like Carbon Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Pure DLC and Mixed DLC), Application (Drill Bits and Milling Cutters, Saws and Blades, Dies and Molds, Inserts, and Others), and End Use (Automotive, Medical, Packaging, Electronics, Cosmetics, and Others)
Mixed DLC Segment to Dominate Asia Pacific Diamond Like Carbon Market during 2019–2028
According to a new market research study on “Asia Pacific Diamond Like Carbon Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Application, and End Use,” is expected to reach US$ 1,267.20 million by 2028 from US$ 840.47 million in 2021. The market is estimated to grow at a CAGR of 6.0% from 2021 to 2028. Increasing demand for manufacturing machineries is the major factor driving the growth of the Asia Pacific diamond like carbon market. However, rising raw material costs may hinder the growth of Asia Pacific diamond like carbon market. The report provides trends prevailing in the Asia Pacific diamond like carbon market along with the drivers and restraints pertaining to the market growth.
The COVID-19 pandemic has significantly disrupted the manufacturing sector in terms of operational efficiency, owing to extended lockdowns across different countries, restrictions imposed on international trades, the shutdown of manufacturing units, travel bans, supply chain disintegration, shortage in the supply of raw materials, and many other factors. The COVID-19 pandemic has negatively impacted the diamond like carbon market, owing to the shutdown of manufacturing units, rise in raw material prices, labor shortage, disruption of supply chains, and financial instability. Moreover, disruption of the automotive industry due to the economic slowdown caused by the COVID-19 pandemic has negatively impacted the growth of diamond like carbon market. However, businesses are gaining ground as previously imposed limitations are being eased across various locations. Moreover, the introduction of COVID-19 vaccines by governments of different countries has further eased the situation, leading to a rise in business activities across the region. The automotive sector is growing rapidly in many countries, and the adoption of electric vehicles is expected to further boost the growth of the automotive industry during the forecast period. The medical sector has grown significantly in recent years and is expected to grow in demand during the forecast period. The medical sector had witnessed a minimal decline during the pandemic. However, due to the development of various technologies such as DLC coating, the market is expected to witness substantial growth during the forecast period.
The Asia Pacific diamond like carbon market is segmented into type, application, end use, and country. Based on type, the Asia Pacific diamond like carbon market is segmented into pure DLC and mixed DLC. In 2020, the mixed DLC segment held the largest share Asia Pacific diamond like carbon market. Based on application, the Asia Pacific diamond like carbon market is segmented into drill bits and milling cutters, saws and blades, dies and molds, inserts, and others. In 2020, the others segment held the largest share Asia Pacific diamond like carbon market. Based on end use, the Asia Pacific diamond like carbon market is segmented into automotive, medical, packaging, electronics, cosmetics, and others. In 2020, the automotive segment held the largest share Asia Pacific diamond like carbon market. On the basis of country, the diamond like carbon market is segmented into Australia, China, India, Japan, South Korea, and rest of Asia Pacific. China accounts for largest market share in the 2020.
Bunty LLC; Dynasil Corporation; HEF Group; IHI Ionbond Ag; Norseld Pty Ltd; and Oerlikon Groups, Inc; are among the leading companies in the Asia Pacific Diamond Like Carbon Market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, EMF, a subsidiary of Dynasil Corporation of America, developed the coating of chalcogenide substrates for infrared (IR) applications
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