Thermal spray substituting electroplating processes and growing demand from the aerospace industry is propelling the market growth.
Market Size – USD 9.76 Billion in 2018, Market Growth – CAGR of 6.3%, Market Trends – Adoption of new measures to conserve energy & harness renewable energy sources.
The global Thermal Spray Coatings Market is forecast to reach USD 16.04 Billion by 2026, according to a new report by Reports and Data. In the thermal spray coatings technique, one heat source is used to melt the coating material in powder, rod, or wire into tiny droplets and throws it onto the substrate at a very high speed. Thermally sprayed coatings enhance and improve the performance characteristics of the substrates by imparting resistance against wear, cavitation, abrasion, corrosion, erosion, and heat. It is also compatible with different substrates such as plastics as well as metals.
The market for thermal spray coatings is influenced by the growing aerospace industry and the usage of thermal spray coatings mainly for the components, such as jet engine components, turbine blades, and landing gears, among others. The increasing usage of components, such as engine parts, cylinders, transmission components, and suspension systems in the automotive industry are collectively creating opportunities for the market to grow while stringent regulations from the government side are posing limitations in the market.
The North America region represented the largest regional market for global thermal spray coatings in 2018. The United States is expected to remain the primary market for thermal spray coatings in the region, attributed to the expanding interest for improved execution at competitive expenses and meeting all the guidelines and industry norms.
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Key findings in the report:
- The ceramics segment is expected to grow at the highest CAGR of 6.9% during the forecast period. The cost efficiency and easy availability of ceramic materials are driving the market growth.
- Based on process type, the conventional flame spray segment is expected to account for a significant market share in terms of value and continue its dominance throughout the forecast period. Flame spray coatings segment held a market share of 38.5% in the year 2018.
- Aerospace held the largest market share of 37.9% in the year 2018. This growth can be attributed to the growth of the aerospace industry. Major aircraft manufacturers such as Boeing & Airbus focuses on increasing their production capacities to fulfill the demand for commercial as well as defense aircraft.
- The Asia pacific thermal spray coatings market is expected to grow at the highest CAGR of 7.4% during the forecast period. This growth is due to the growing population, increasing personal disposable income, increasing urbanization & modernization, and growing industries such as aerospace, automotive, and healthcare.
- Key participants Praxair Surface Technologies, Inc, BodyCote, Oerlikon Metco, Surface Technology, H.C. Starck GmbH, F.W. Gartner, Thermal Spraying, Metallisation Limited, Plasma-Tec, Inc, and C & M Technologies GmbH, among others.
Thermal Spray Coatings Market Demand, Analysis and Trend, By Materials, By Process, and By Application, 2016-2026, To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/thermal-spray-coatings-market
For the purpose of this report, Reports and Data have segmented into the global Thermal Spray Coatings market on the basis of materials, process, application, and region:
Materials Outlook (Volume; Kilo Tons; Revenue, USD Billion; 2016-2026)
Process Outlook (Volume; Kilo Tons; Revenue, USD Billion; 2016-2026)
Applications Outlook (Volume; Kilo Tons; Revenue, USD Billion; 2016-2026)
- Energy & Power
Regional Outlook (Revenue in USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Table Of Content
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Thermal Spray Coatings Market Segmentation & Impact Analysis
4.1. Thermal Spray Coatings Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
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