![]() ![]() While prospects remained sluggish across several industrial verticals amid the COVID-19 crisis, the food processing segment majorly sustained sales, given the increased demand for instant foodstuff during the lockdown period.įuture growth prospects are equally reliant on the ever-broadening food processing industry. In terms of revenue, the market grew from approximately US$ 600 Mn in 2016 to over US$ 750 Mn in 2020. Historically, sales of hard coatings increased at a CAGR of over 6% from 2016 to 2020. Growth is likely to be nudged by extensive uptake across the medical devices & equipment manufacturing industry. Fact.MR – a market research and competitive intelligence provider, anticipates the global hard coatings market to top US$ 1 Bn by 2031, expanding at nearly 7% CAGR, according to a recently published study on the landscape.
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