Market Introduction
Asia Pacific diamond-like carbon market is segmented into China, Japan, Australia, India, South Korea, and the Rest of Asia Pacific. The automotive sector in Asia Pacific is anticipated to expand at a faster pace due to increasing population and growing consumer spending. The diamond-like carbon has been increasingly used in various industries such as automotive, medical, cosmetic, and electronics. Therefore, an increase in demand from the automotive industry across the region and a rise in the manufacturing industry due to the growing investments are driving the diamond-like carbon market in Asia Pacific. Moreover, government incentives and easy availability of raw materials are expected to fuel the market growth during the forecast period. Thus, the growing automotive industry across the region is expected to further propel the market growth over the forecast period. The increasing government support in the automotive industry is fueling market growth. For instance, India's Automotive Mission Plan FAME-II emphasizes providing government support to its growing automotive sector and component manufacturing industry. Thus, the booming growth prospects in countries such as China, Japan, and India is also one of the key factors driving the diamond like carbon market.
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.
Market Overview and Dynamics
The diamond like carbon market in Asia Pacific is expected to grow from US$ 840.47 million in 2021 to US$ 1,267.20 million by 2028; it is estimated to grow at a CAGR of 6.0% from 2021 to 2028. Surge in demand from the automobile sector; automobile industry has witnessed tremendous growth in the last decade, and the growth is expected to continue during the forecast period. The development of low-cost vehicles, extensive service network, and rise in disposable income are driving the automobile industry. Due to the extensive competition in the automobile industry, manufacturing standards are being stringently followed. Moreover, companies are focusing on using products that can extend the final product's life and drive the brand name. Such factors are driving the adoption of diamond like carbon in the automotive industry. The industry is expected to witness substantial investments during the forecast period due to the changing dynamics in the industry and the growing focus on the construction and adoption of electric vehicles. For instance, Tesla Inc. is considering the construction of a manufacturing unit in India. If approved, the demand for diamond like carbon is expected to rise in the country. Some of the common automotive parts coated with DLC include bearings, valves, gears, cams, and shafts. Further, the rising demand for two-wheelers, is expected to substantially impact the growth of the automotive industry. Such factors are expected to drive the Asia Pacific diamond like carbon market during the forecast period.
Key Market Segments
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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the diamond like carbon market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Bunty LLC; Dynasil Corporation; HEF Group; IHI Ionbond Ag; Norseld Pty Ltd; and Oerlikon Groups, Inc; among others.
Reasons to buy report
ASIA PACIFIC DIAMOND LIKE CARBON MARKET SEGMENTATION
By Type
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 840.47 Million |
| Market Size by 2028 | US$ 1, 267.20 Million |
| CAGR (2021 - 2028) | 6.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Diamond Like Carbon Market is valued at US$ 840.47 Million in 2021, it is projected to reach US$ 1, 267.20 Million by 2028.
As per our report Asia Pacific Diamond Like Carbon Market, the market size is valued at US$ 840.47 Million in 2021, projecting it to reach US$ 1, 267.20 Million by 2028. This translates to a CAGR of approximately 6.0% during the forecast period.
The Asia Pacific Diamond Like Carbon Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Diamond Like Carbon Market report:
The Asia Pacific Diamond Like Carbon Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Diamond Like Carbon Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Diamond Like Carbon Market value chain can benefit from the information contained in a comprehensive market report.
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