Thermal Spray Coatings market application, trends, growth, opportunities and worldwide forecast to 2027

Thermal spray coating is a technology that is used to enhance the surface of solid materials in order to offer resistance to corrosion, cavitation, wear, and abrasion. Thermal spray coating is also used to offer electrical conductivity or insulation and chemical resistance to the surface. Moreover, it is widely adopted across the various end-user industry for extending the shelf-life of a product and to repair and re-engineer damaged components. Some of the major end-user of thermal spray coating are aerospace, industrial gas turbines, automotive, and medical.

The global thermal spray coatings market was valued at US$ 8,909.1 million in 2018 and is anticipated to reach US$ 14,073.8 million by the end of 2027, growing at a CAGR of 5.1% during the forecast period (2019 to 2027).

Top Key Players in Thermal Spray Coatings  market: Sulzer Ltd, Praxair, Inc., Oerlikon Group, Curtis-Wright Corporation, Bodycote plc., Thermal Spray Technologies Inc., ASB Industries, Inc., Abakan Inc., and Metallisation Ltd.

Scope of the Report:

The research report concentrates on the Global Thermal Spray Coatings  Market in the regional market such as North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa. Furthermore, the report segments the market according to market type, product type, end-users, vertical sectors, product prices, new product launches, innovation, and product differentiation.

Regional Analysis:

Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Thermal Spray Coatings market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.

• North America [U.S., Canada, Mexico]
• Europe [Germany, UK, France, Italy, Rest of Europe]
• Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]
• South America [Brazil, Argentina, Rest of Latin America]
• Middle East & Africa [GCC, North Africa, South Africa, Rest of Middle East and Africa]

The rising demand for thermal spray coating from the automotive industry is projected to point out lucrative growth opportunities over the forecast period. Also, the booming automotive industry, especially within the U.S region, is predicted to propel the market growth. consistent with The International Trade Administration, the us has one among the most important automotive markets within the world. In 2018, U.S. light-vehicle sales reached 17.2 million units, the fourth straight year during which sales reached or surpassed 17 million units.

The rising application of thermal coating from conventional and renewable energy generation plants is projected to foster market growth. Functional coatings are broadly utilized in energy generation instruments for efficient turbine operation. Rising demand for wear-corrosion and oxidation-resistant energy generation instrument is predicted to supply significant growth opportunities to the thermal spray coating market over the forecast period.

High cost associated with the thermal spray coatings especially in the complex structure is expected to restrict the market growth. This process is mainly carried out by robots, robotic functions are programmed in such a manner that optimum coating properties are maintained even if the process is repeated. However, robot require frequent adjustments in case of a complex structure which needs to be coated which leads to significantly increase the cost of the process. Hence, the high cost of the thermal spray coating is expected to negatively impact the market growth of thermal spray coatings.

By thermal spray coating, thick coatings are difficult to obtain and the coating formation process is not clear. This factor is expected to hinder the market growth of thermal spray coating. Moreover, this process requires precaution and measures to control noise, dust, fumes, and other issues as these factors can have negative environmental effects. Furthermore, volatile prices of raw material are expected to hinder market growth.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: [email protected]