RD 350 LC - 1982 - bounty like my bike in the 80's, finally got an original UK one. 31K/Aprilia RS hybrid - ex Yogi and Muttsnuts bike - my first hybrid Triumph Street Triple R (sorry!) ...and a box of bits I hope to be able to turn into a 1983 31K
Cerakote is less likely to chip than powdercoat as it's a thinner finish. It's a ceramic paint designed for coating weapon barrels amongst other things, so needs to be durable. It's able to withstand lots of heat - far more than an Lc can produce, plus it's unaffected by oil, petrol, and brake fluid - perfect for bike applications. Downside is it's expensive for the small amounts it comes in, compared to powder, but you dont need as much of it due to the thin coating. The other downside is it wont fill imperfections like powdercoating will, so your surface needs to be really good if the Cerakoted finish is to look the best. The fella I use does a lot of Cerakote now, and he does loads of Motocross bikes. Reports coming back to him state it's proved very durable on frames and swingarms - amazing when you consider the hard life a Motox bike gets. You can get a clear coat version too, so ideal for bare alloy.
And forgot to add, you can coat plastic parts with it. He has some plastic side covers that have been knocking around his workshop for a couple of years now - they were trial parts he did to see how good the coating was, and they still look good.
I had a set of callipers done and they came out great, no issues with leaks/rebuilds going forward now too. I've seen carbs that had been Cerakoted in various colours, they really looked the part and again guess they would be extremely durable too.