According to the report published by Allied Market Research, the thermal Spray Coating Market by Material (Ceramics, Metal & Alloys and Other), Process (Flame Spraying, Arc Spraying, Plasma Spraying, HVOF and Others) and End-Use Industry (Automotive, Aerospace, Industrial and Others): Opportunity Analysis and Industry Forecast, 2020-2027. The global thermal spray coating industry generated $8.0 billion in 2019, and is projected to reach $12.7 billion by 2027, witnessing a CAGR of 5.9% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, key investment pockets, competitive scenario, value chain, and regional scenario.
Rise in demand for automobiles, increase in aerospace application, and surge in usage of medical devices drive the growth of the global thermal spray coating market. However, issues regarding thermal spray process reliability and consistency and high energy costs for manufacturing technical ceramics hinder the market growth. On the other hand, advancement in filler plasma spray coating practices present new opportunities in the coming years.
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Leading players of the global thermal spray coating market analyzed in the report include M, A&A Thermal Spray Coatings, Inc., APS Materials, Inc., CoorsTek, Inc., Dupont De Nemours, Inc., Integrated Global Services, Inc., KCC Corporation (KCC), Linde Plc and Morgan Advanced Materials plc.
Covid-19 Scenario:
- The covid-19 outbreak negatively impacted the thermal spray coatings industry. The prolonged lockdowns have impacted the manufacturing activities and led to supply chain disruptions.
- The demand from the end-using industries including construction, automotive, and industrial sectors has declined as well. In addition, reduced labor, due to social distancing norms, amid the COVID-19 pandemic has further impacted the market.
- Nevertheless, the regulations are getting eased off and the industries are getting revitalized. With this, the thermal spray coating market is expected to recoup soon.
The report offers detailed segmentation of the global thermal spray coating market based on material, process, end-use industry and region.
Based on material, the metal & alloys and ceramics segment held the largest share in 2019, accounting for nearly half of the global thermal spray coatings market. Furthermore, the metal & alloys segment is also expected to witness the highest CAGR of 6.3% throughout the forecast period.
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Based on process, the flame spraying segment dominated the market in 2019, contributing nearly three-fifths of the global thermal spray coatings market. The segment is expected to lead the trail throughout the forecast period. On the other hand, the plasma spraying segment is projected to portray the highest CAGR of 11.2% during the study period.
The global thermal spray coatings market is studied across Asia-Pacific, Europe, ALMEA, and North America. The Asia-Pacific region held the largest share in 2019, contributing to more than half of the market. Moreover, the region is also expected to register the highest CAGR of 6.3% during the forecast period.
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The global thermal spray coatings market size is expected to showcase an exponential growth by reaching USD 17,631.2 million by 2027.
This is attributable to the growing aerospace industry and the increasing demand for weight reduction in aircraft to improve performance and fuel efficiency that propels the demand for innovative thermal spray coatings across the globe.
Fortune Business Insights, in its latest report, titled, “Thermal Spray Coatings Market Size, Share & Industry Analysis, By Material (Ceramic, Metal & Alloy, Polymer, Intermetallic, and Others), By Technology (Flame Spray, High-Velocity Oxygen Fuel (HVOF) Spray, Electric Arc Spray, Plasma Spray, Cold Spray, and Others), By Application (Aerospace, Industrial Gas Turbine, Automotive, Medical, Paper & Printing, Oil & Gas, Steel, and Others), and Regional Forecast, 2020-2027.”, observes that the market stood at USD 10,235.2 million in 2019 and is projected to exhibit a CAGR of 7.8% between 2020 and 2027.The Report IncludeThe market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will affect market growth.
In addition to this, the report provides insights into the regional analysis.
It includes the competitive landscape that involves leading companies and novel products as well as major collaborations.
The research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
According to the latest report by IMARC Group “Thermal Spray Coating Market Trends: Global Industry Share, Size, Growth, Opportunity and Forecast 2021-2026“, The global thermal spray coating market exhibited moderate growth during 2015-2020.
Looking forward, IMARC Group expects the market to grow at a CAGR of around 7% during 2021-2026.Thermal spray coating is an industrial process to apply coating on materials for enhancing the thermal barrier properties of the surface.
The process involves the use of a source of heat and powder coating substances that are melted and sprayed on the material surface at high velocity.
This process is widely utilized in the production of moving and rotating parts of machines, such as ships, pumps, electric motors, aerospace turbine systems and quarrying machinery, as it aids in improving the friction while extending the life span of the machine.Request for a free sample copy of this report: https://www.imarcgroup.com/thermal-spray-coating-market/requestsampleNote: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries.
Moreover, the rising usage of thermal spray coating in aerospace and automotive industries to coat engine turbine blades, piston, and synchronizer rings in order to provide a protective layer from extreme temperature changes is creating a positive outlook for the market.
Along with this, it is also used as a preferred alternative to electroplating and ion implantation as the process is relatively less toxic and provides excellent corrosion resistance.
Thermal spray coating Market involves a process in which molten metal is sprayed onto a surface.
It is a cost-efficient way to increase the durability and sustainability of a product.
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.
We have included all the segment of this market in our market research report.
