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Thermal Spray Coatings Market

Thermal Spray Coatings Market<br>

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Thermal Spray Coatings Market

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

  2. THERMAL SPRAY COATINGS MARKET ANALYSIS • 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

  3. Definition of Market/Industry: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). • Drivers • 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. • 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.  • North America region dominated the global thermal spray coatings market in 2018, accounting for 39.8% share in terms of value, followed by Europe and Asia Pacific, respectively

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

  5. Market Restraints • 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.

  6. Market Opportunities • 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. • 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. 

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

  8. Key Takeaways • 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. • The rising number of acquisitions among major players is expected to propel the market growth of thermal spray coating. For instance, in January 2019, Oerlikon Metco 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.

  9. Figure 3. Global Thermal Spray Coatings Market Share, By Application, 2018 Based on application, thermal spray coatings market is segregated into aerospace, industrial gas, turbines, automotive, medical, and others. Wherein, in 2018, aerospace segment accounted for the revenue share of 36.7% in the global white thermal spray coatings, followed by industrial gas and turbines segment.

  10. Competitive Section: • 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

  11. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Buy Now • Reference :https://www.coherentmarketinsights.com/market-insight/thermal-spray-coatings-market-3275

  12. About Us 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

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