Header wrap & ceramic coating
The concept between wrapping an exhaust with a high-temp wrap and ceramic coating are the same. There are two primary benefits; one applies more to the UTV industry. Doing both will give you the maximum benefit, and keep the exhaust looking good!
#1 - By keeping the heat inside the exhaust, you allow more consistent exhaust gas temperatures. When air cools down, it condenses and becomes denser. This creates increased pressure. By keeping the gas hot, you keep the air molecules sparse, and therefore promote less pressure in your exhaust system. There is a common fallacy about exhaust systems, and that is that more pressure makes more torque. This is not true - exactly. It is much more complex than that. Though to keep on topic, wrapping &/or coating an exhaust system will simply improve on and maximize the potential of whatever exhaust you apply it to.
#2 - Ceramic coating is a form of insulation, just as wrapping is. The wrap will insulate better than the ceramic coating. The ceramic coating also contains the heat; however it is much less effective at doing so. The benefit of ceramic is its durability. It is similar to a chrome coating which is applied to the header through electrolysis. The wrap, while doing a better job of insulating, is much less durable. It will fray over time and if not wrapped tightly, will move around. If you purchase high quality wrap, it will last much longer than the cheap stuff. A company called Helix makes very high quality wrap, and is offered in tan and black. If any of your local dealers are set-up with a distributor called "Tucker Rocky", you can get it through them. The other benefit of wrapping/coating, which applies more to the UTV industry, is less heat in/around the engine. In my development on the Kawasaki Teryx engine, I found anywhere from 5-15 degrees cooler engine compartment temperatures when using a heat wrap. This promotes cooler intake temperatures and therefore more oxygen & power! However the primary reason why everyone wraps their aftermarket Teryx exhaust is to keep from melting the plastic engine cover on the left side of the engine. You ATV riders will definitely notice that your right leg stays cooler when riding with a heat wrap.
I know it is a little off the original question, though I hope this helped!
Matt Fasig