Report : Europe 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)
Automotive Segment to Dominate Europe Diamond Like Carbon Market during 2019–2028
According to a new market research study on “Europe 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$ 481.47 million by 2028 from US$ 329.52 million in 2021. The market is estimated to grow at a CAGR of 5.6% from 2021 to 2028. Rising demand from the automobile sector is the major factor driving the growth of the Europe diamond like carbon market. However, surge in raw material costs may hinder the growth of Europe diamond like carbon market. The report provides trends prevailing in the Europe diamond like carbon market along with the drivers and restraints pertaining to the market growth.
In Europe, France and Italy recorded the highest number of COVID-19 cases as of June 2021. Moreover, Russia, the UK, and Germany are among the worst-hit countries and are expected to suffer an economic hit due to the lack of revenue from various industries. The manufacturing industry across Europe has been severely impacted by the COVID-19 pandemic, owing to a decline in manufacturing activities. This has negatively impacted the demand for diamond like carbon in Europe. However, with the European population getting vaccinated, this impact is expected to ease out in the coming years, leading to positive growth of the diamond like carbon market across the region.
The Europe diamond like carbon market is segmented into type, application, end use, and country. Based on type, the Europe diamond like carbon market is segmented into pure DLC and mixed DLC. In 2020, the mixed DLC segment held the largest share Europe diamond like carbon market. Based on application, the Europe 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 Europe diamond like carbon market. Based on end use, the Europe diamond like carbon market is segmented into automotive, medical, packaging, electronics, cosmetics, and others. In 2020, the automotive segment held the largest share Europe diamond like carbon market. On the basis of country, the diamond like carbon market is segmented into Germany, France, Italy, UK, Russia, and rest of Europe. The rest of Europe accounts for largest market share in the 2020.
Dynasil Corporation; HEF Group; IHI Ionbond Ag; Norseld Pty Ltd; Oerlikon Groups, Inc; and Wallwork Heat Treatment Ltd; are among the leading companies in the Europe 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, Morgan Advanced Materials plc announced that BEST Engineered Surface Technologies, LLC has purchased the assets of its Diamonex factory in Allentown.
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