Portland, OR, March 24, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global thermal spray coating market garnered $7.38 billion in 2018, and is expected to reach $13.5 billion by 2026, growing at a CAGR of 7.8% from 2019 to 2026. The report provides comprehensive analyses of the top investment pockets, key drivers & opportunities, major market segments, and competitive landscape.
Surge in demand for automobiles, rise in usage in medical devices, and increase in aerospace application propel the growth of the market. However, issues regarding thermal spray process reliability and consistency, and high energy costs for manufacturing technical ceramics impede the market growth. On the other hand, advancement in filler plasma spray coating practices is expected to offer lucrative opportunities to the market.
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The global thermal spray coating market is segmented based on material, process, end-use industry and region. Based on material, the global market is segmented into ceramics, metal & alloys and other materials. The ceramics segment contributed nearly half of the total revenue share in 2018, and is expected to dominate throughout the forecast period. On the other hand, the metal & alloys segment is expected to grow at the highest CAGR of 8.4% from 2019 to 2026.
Based on process, the global thermal spray coating market is separated into flame spraying, arc spraying, plasma spraying, HVOF and others. The flame spraying segment contributed to nearly three-fifths of the total market share in 2018. This segment is expected to lead in terms of revenue by 2026. However, the plasma spraying segment would grow at the highest CAGR of 10.4% from 2019 to 2026.
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Based on geography, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The region across Asia Pacific contributed to the highest share in 2018, accounting for nearly half of the total revenue. However, Asia-Pacific would register the highest CAGR of 8.3% from 2019 to 2026.
Key market players analyzed in the research include APS Materials, Inc., CoorsTek, Inc., Dupont De Nemours, Inc., Integrated Global Services, Inc., 3M, A&A Thermal Spray Coatings, Inc., Linde Plc, Morgan Advanced Materials plc, and KCC Corporation (KCC).
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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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