Thermal Spray Coatings Market, Business Trends, Global Segments, Business Opportunities, Industry Profit Growth and Forecast to 2023
Research Reports
Jan 19, 2021
Thermal sprayed coatings are used to improve the properties of substrates. It can provide resistance against corrosion, abrasion, cavitation, heat, erosion, and wear. It is compatible with various types of metals and polymers. The global thermal spray coatings market report by Market Research Future (MRFR) outlines vital trends and opportunities for industry end-users for the forecast period of 2018 to 2023 (forecast period).
Thermal Spray Coatings Market Scope
The global thermal spray coatings market is set to achieve a stellar valuation over the forecast period. This can be primarily attributed to its low toxic nature and high deposition rate on substrates. The application in numerous end-use industries of agriculture, automotive, aerospace, electronic, healthcare, and energy & power is predicted to drive up the market demand exponentially. For instance, these coatings are applied on automotive parts, food & beverage reactors, aerospace precision parts, and others to prevent it from damage from climatic conditions.
The need to reduce production costs and improve durability of components can fuel the global thermal spray coatings market growth throughout the forecast period. The shift towards thermal spray coating over hard chrome plating can be advantageous for the market in the long run. Furthermore, stringent regulations by REACH and EPA for prevention of VOC transmissions will provide growth opportunities for the market.
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Thermal Spray Coatings Market Segmentation
The global thermal spray coatings market is segmented by the coating material, heat source, process, end-use industry, and region.
On the basis of the coating material, the global thermal spray coatings market is segmented into ceramic, carbide, metal & alloys, polymer, and cermet. Metal & alloys held the majority of the market due to its acceptance in various end-use industries.
On the basis of the heat source, the global thermal spray coatings market is segmented into combustion flame and electrical energy. The electrical energy segment is predicted to accrue maximum revenue for the market owing to being covering a large surface area and cost-economical in nature.
On the basis of the process, the global thermal spray coatings market is segmented into cold spray, flame spray, plasma spray, high-velocity oxy-fuel, electric arc spray, and others. Electric arc spray accounted for the largest market share in 2017 due to being commonly available and cost-effective for industries. On the other hand, plasma spray can dethrone electric arc spray in the coming years from its position owing to properties of wear & weather resistance, uniform coating thickness, and clean process.
On the basis of the end-user industry, the global thermal spray coatings market is segmented into aerospace, automotive, healthcare, construction, industrial, energy & power, electronics, agriculture, and others. Automotive, aerospace, industrial, and healthcare segments accounted for a major share of the market due to its eco-friendly nature.
Thermal Spray Coatings Market Regional Analysis
The global thermal spray coatings market is segmented into five regions namely Asia Pacific (APAC), North America, Europe, Latin America, and the Middle East and Africa.
APAC held a major market share in 2017 due to lax regulations and steady growth of developed economies. Rapid growth witnessed in sectors of agriculture, automotive, healthcare, industrial, energy & power, and electronics in the region can influence market growth.
North America is the second-largest market in 2017 owing to industries of agriculture, healthcare, and aerospace. Similarly, Europe can enjoy massive demand due to industries of agriculture and automotive.
Competition Outlook
Progressive Surface, Precision Coatings, Inc., Surface Technology, Air Products & Chemicals, Inc., BryCoat Inc., Praxair S.T. Technology, Inc., Metallisation Ltd., Oerlikon Metco Ag Wohlen, General Magnaplate Corporation, Cincinnati Thermal Spray, Inc., Plasma-Tec, A&A Thermal Spray Coatings, Flame Spray Coating Company, H.C. Starck GmbH, ASB Industries, Inc. are key players of the global thermal spray coatings market.
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About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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