Diamond Like Carbon (DLC) offers excellent properties such as high hardness, chemical inertness, high wear and corrosion resistance. It is being increasingly used as protective coating on components and parts in automobiles, medical devices, machine cutting tools, solar cell applications, among others. DLC has emerged as an effective alternative to traditionally used hard coatings owing to its superior properties. Easy deposition process and flexibility in tailoring the properties of DLC films are further fueling its demand across diverse industries.

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. DLC coatings find widespread application in automotive components and parts to provide wear and corrosion resistance which helps in improving fuel efficiency of vehicles. Growing automotive industry around the world is the key factor driving the demand for DLC coatings.

Key Takeaways

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.

 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.

 

Market Drivers
Increasing demand from automotive industry: Automotive industry is the major consumer of DLC coatings owing to its excellent properties of wear resistance and protection against corrosion. Growing automotive production across the world is the key factor driving the demand for DLC coatings.

PEST Analysis
Political: In the Diamond Like Carbon Market challenges and opportunities will influence moderate growth, supported by government backing for the renewable energy sector and the electronics industry. Stable political conditions will help the market reach its forecast potential.

Economic: Strong economic growth especially in emerging markets will drive demand for DLC coatings from automotive, medical devices and other industrial applications. Cost competitive DLC coatings are becoming attractive for manufacturers.
Social: Rising living standards and purchasing power are increasing consumption of electronic goods and automobiles. This social trend will motivate adoption of advanced coating technologies like DLC for improved product life and performance.
Technological: Diamond like carbon coatings offer properties like high wear-resistance and chemical inertness. Ongoing R&D is helping lower cost of deposition technology and widen range of applications. New technologies are also making DLC coatings suitable for light weight components.

The diamond like carbon market sees high concentration of value in North America and Western Europe due to wide adoption in precision manufacturing and automotive industries. Both regions account for over 50% of the global market size. Asia Pacific region is growing at the fastest pace due to expanding manufacturing sector, rising electronics demand and focus on renewable energy in countries like China and India.

In terms of value contribution, the automotive segment holds the largest share of over 30% in the global diamond like carbon market. DLC coatings are increasingly used in engine components and exterior automotive parts for protection against wear and corrosion. The medical devices industry is another major end use sector registering strong growth on back of rising healthcare spending globally and new applications of DLC coated implants and instruments.

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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. (https://www.linkedin.com/in/ravina-pandya-1a3984191)