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Thermal spray coatings market analysis | Coherent Market Insights

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Thermal spray coatings market analysis | Coherent Market Insights

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  1. Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ Covid-19 Impact Tracker Coherent Market Insight

  2. Thermal Spray Coatings Market, By Material (Metals, Alloys, Carbides, Ceramics, Intermetallic, Others), By Application (Aerospace, Industrial Gas Turbines, Automotive, Medical, Others), By Process (Conventional flame spray, Plasma spray, HVOF (High Velocity Oxy-fuel), Cold Spray), and By Regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027 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). THERMAL SPRAY COATINGS MARKET ANALYSIS

  3. Growing demand for thermal spray coating over hard chromium plating across various industries is a prominent factor expected to propel market growth. Hard chromium plating is widely used in the aircraft landing gear, turbine engines, propeller hubs, and hydraulics. However, due to environmental concerns as hard chromium process consists of hexavalent chromium that has a bad impact on the environment. Hence, a growing preference for thermal spray coating over hard chromium plating is projected to propel the market growth. Drivers

  4. Growing demand for titanium and hydroxyapatite coatings by using thermal spray coating across medical implants is expected to foster the market growth over the forecast period. Thermal spray coating is applied to the medical devices in order to offer surface roughening and biological fixation. The demand for thermal spray coating is especially gaining demand from orthopedic medical devices. Hence, the growing application of thermal spray coating in medical implants is expected to foster market growth. 

  5. Figure 1. Global Thermal Spray Coatings Market Share, By Region, 2018

  6. 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. Market Restraints

  7. 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.

  8. The rising demand for thermal spray coating from the automotive industry is projected to show lucrative growth opportunities over the forecast period. Also, the booming automotive industry, especially in the U.S region, is expected to propel the market growth. According to The International Trade Administration, the United States has one of the largest automotive markets in the world. In 2018, U.S. light-vehicle sales reached 17.2 million units, the fourth straight year in which sales reached or surpassed 17 million units. Market Opportunities

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

  10. Figure 2. Global Thermal Spray Coatings Market - Opportunity Analysis

  11. Increasing investment by major players in thermal spray coating is expected to fuel the market growth over the forecast timeframe. For instance, in August 2018, thermal spray coating manufacturer Flame Spray North America is expanded its existing manufacturing facility in Laurens County, investing $4 million. This acquisition will broaden Flame Spray’s capabilities to service the U.S. aerospace market by dedicating this facility to treating aircraft engine components with thermal spray coatings. Market Trends/Key Takeaways

  12. The rising number of acquisitions among major players is expected to propel the market growth of thermal spray coating. For instance, in January 2019, OerlikonMetco acquired TeroLab Surface GmbH for improving coatings services by increasing market applications and service accessibility to customers. This acquisition is a new step of Oerlikon’s strategy to focus and expand its surface solution technologies and competencies.

  13. Figure 3. Global Thermal Spray Coatings Market Share, By Application, 2018

  14. Company Names  Players active in the market are Sulzer Ltd, Praxair, Inc., Oerlikon Group, Curtis-Wright Corporation, Bodycote plc. Thermal Spray Technologies Inc., ASB Industries, Inc., Abakan Inc., and Metallisation Ltd Competitive Section:

  15. REQUEST SAMPLE DOWNLOAD PDF REQUEST CUSTOMIZATION TALK TO ANALYST REFERENCE: https://www.coherentmarketinsights.com/market-insight/thermal-spray-coatings-market-3275

  16. Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: Customized Market Research Services Industry Analysis Services Business Consulting Services Market Intelligence Services Long term Engagement Model Country Specific Analysis About Us:

  17. Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com Contact Us:

  18. Kindly follow CMI Social Media Profiles for the latest company updates Facebook LinkedIn Twitter https://www.coherentmarketinsights.com/ THANK YOU!

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