PLEASANTON CA, Nov. 01, 2021 (GLOBE NEWSWIRE) -- Latest research report on Thermal Spray Coatings Market Growth Analysis 2017-2027 by ResearchCMFE provides a detailed outlook of the market with brief information of industry drivers, restraints, opportunities, trends, and challenges.
The Global Thermal Spray Coatings Market was valued at USD 9.60 bn in the base year 2020, and is projected to reach USD 13.90 bn by 2027, with a CAGR of 5.4% during the forecast period (2017-2027).
The major factor attributing to the growth in thermal spray coatings market is the rising application of thermal spray coatings in aerospace industry. Aircraft’s components function in harsh environments, thus, exposed to high heat, abrasive chemicals and pressure. Thermal spray coatings help in protecting the engine parts, by improving its performance and extending the component life. The aerospace sector mainly uses thermal spray coats to provide protective coatings to protect aircraft components. Moreover, the growing demand of thermal spray coatings from Oil & Gas industry is also responsible for blooming thermal spray coatings market.
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Global Thermal Spray Coatings Market Report Overview:
The research report covers all the necessary data regarding the market patterns of growth in the market and the factors driving this growth. This research report offers a detailed study of an important microscopic view of the industry to define the footprints of the major players like Praxair Surface Technologies Inc., H.C. Starck Inc., Hoganas AB, Castolin Eutectic, Powder Alloy Corporation, Wall Colmony Corporation, Saint-Gobain S.A., Fujimi Incorpoarated, Carpenter Technology Corporation, Durum Verschleiss-Schutz GmbH, Montreal Carbide Co. Ltd., Kennametal Stellite, Oerlikon Metco, AMT AG, Flame Spray Technologies, Medicoat AG, Progressive Surface Inc., Tocalo Co., Ltd., American Roller Company LLC etc. The leading and dominant players in the global Thermal Spray Coatings Market are intrinsically analyzed based on key factors in the competition analysis part of the study. The report covers Leading Countries and analyzes the potential of the global Thermal Spray Coatings Market, providing statistical information about market dynamics, growth factors, major challenges, and market entry strategy analysis, opportunities, and forecasts. The biggest highlight of the report is to provide companies in the industry with a strategic analysis of the impact of COVID-19.
Key Market Segmentation of Thermal Spray Coatings Industry:
The segmentation of the Thermal Spray Coatings Market has been offered based on product type, end user, company profiles, and region. Every segment has been analyzed in detail, and data pertaining to the growth of each segment has been included in the analysis.
Company Profiles and Competitive Intelligence Covered in Thermal Spray Coatings Market Report are:
- Praxair Surface Technologies Inc.
- C. Starck Inc.
- Hoganas AB
- Castolin Eutectic
- Powder Alloy Corporation
- Wall Colmony Corporation
- Saint-Gobain S.A.
- Fujimi Incorpoarated
- Carpenter Technology Corporation
- Durum Verschleiss-Schutz GmbH
- Montreal Carbide Co. Ltd.
- Kennametal Stellite
- Oerlikon Metco
- AMT AG
- Flame Spray Technologies
- Medicoat AG
- Progressive Surface Inc.
- TOCALO Co., Ltd.
- American Roller Company LLC.
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Global Thermal Spray Coatings Market Material Type Outlook (Revenue, USD Billion, 2017-2027)
- Ceramics
- Metals & Alloys
- Others (Polymers, Carbides and Composites)
Global Thermal Spray Coatings Market Technology Type Outlook (Revenue, USD Billion, 2017-2027)
- Cold spray
- Flame spray
- Plasma spray
- HVOF
- Electric arc spray
- Others
Global Thermal Spray Coatings Market End-Use Industry Outlook (Revenue, USD Billion, 2017-2027)
- Aerospace
- Industrial gas turbine
- Automotive
- Healthcare
- Oil & Gas
- Steel
- Others
Global Thermal Spray Coatings Market by Region Outlook (Revenue, USD Million, 2017-2027)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Regional Analysis of Thermal Spray Coatings Market:
Based on region, North America held the largest share in the global thermal spray coatings market. This growth is mainly attributed to U.S. as it is the second-largest automotive producer in the world. Thermal spray coatings have a high application automotive component such as cylinder rings, crankshafts, piston rings, brake discs, shifters, oxygen sensors and in many other crucial automotive components. Therefore, growth in the automotive sector is increasing the need of thermal spray coatings industry in this region. In addition, strong exports of aerospace components to several major economies, such as China, Germany and France are also influencing the growth of thermal spray coatings industry. Moreover, lucrative growth in the aerospace industry in Canada is also driving the demand for thermal spray coatings in this region. According to Aerospace Industrial Association of Canada, in 2018, the aerospace industry in Canada accounted to approximately USD 25.5 billion in the country’s GDP. All these factors are driving the thermal spray coatings market in this region.
Key Findings:
- Based on material, the ceramics segment held the most dominant share in the market in 2020.
- Based on technology, the Plasma spray technology captured more than 30% of the market revenue share in the year 2020.
- Based on application, the aerospace industry dominated the thermal spray coatings market and is expected to remain constant during the forecast period.
- Based on region, North America held the largest share in the global thermal spray coatings market.
Recent News, Developments, and investments in Thermal Spray Coatings Market:
- In February 2018, PG Technologies announced to expand its production for adding an additional coatings capacity in the Singapore market for meeting the growing demand from country’s aviation industry.
- In June 2018, H.C. Starck, a leading producer of technology metal powders has launched molybdenum thermal spray powders. These technologically advanced spray powders will be helpful in providing coatings for large areas as well as small metal components that are prone to erosion, wear and corrosion.
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