Thermal spray coatings involve a heat source, which melts the coating material in a powder, wire, or rod form into tiny droplets and sprayed it onto the substrate at high velocity
Pune, India - August 6, 2019 /MarketersMedia/ —
Market Insight
The rising importance of thermal spray coatings has contributed majorly to the expansion of the global thermal spray coatings market. Market reports associated with the chemical and material industry have been made available by Market Research Future, which creates verticals on this industry as well as the market. The global thermal spray coatings market is assessed to observe progress in its growth with a higher CAGR during the forecast period by 2023.
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Thermal spray coatings encompass a process where a heat source is provided which melt the coating material in the form of powder, wire, or rod form into tiny droplets and sprays it onto the substrate at high velocity. Such coatings are used to augment and advance the performance of the substrates by transmitting resistance against wear, erosion, cavitation, corrosion, abrasion, or heat. Various types of coating materials are available such as ceramics, carbides, metals & alloys, polymers, and cermet that are used for thermal spray coatings. Multiple advantages are also offered like thick coatings, high deposition rate, and low toxic gas emissions than several surface treatment processes such as nickel and chrome plating, nitride or heat treat processes, anodizing, and weld overlay
Key Players
Flame Spray Coating Company
General Magnaplate Corporation
Praxair S.T. Technology, Inc.
Oerlikon Metco Ag Wohlen
Plasma-Tec
Surface Technology
ASB Industries, Inc.
Cincinnati Thermal Spray, Inc.
Precision Coatings, Inc
BryCoat Inc.
Progressive Surface
C. Starck GmbH
A&A Thermal Spray Coatings
Metallisation Ltd.
Air Products & Chemicals, Inc.
Market Drivers & Trends
The global thermal spray coatings market is growing due to its extensive range of applications in various end-use industries of aerospace, automotive, healthcare, energy & power, electronics, agriculture, and industrial. The applications are also observed in coating industrial parts in aerospace precision agriculture equipment, automotive parts, industrial gas turbine, electronics components, food & beverage industry reactors & other equipment, chemical industry reactors & equipment, and healthcare equipment to avert from environmental conditions like corrosion, erosion, wear, abrasion, and heat. These factors are profoundly influencing the market’s growth towards positive note and are anticipated to take the growth graph further at a higher rate.
Apart from this, factor such as the necessity to improve the durability of components o machine is also possible to fuel the market growth at a remarkable rate. On the other hand, the growing use of thermal spray coatings in the healthcare sector for various needs and requirements such as prosthetics, dental implants, and orthopedics, are projected to drive the market growth over the assessment period.
The upturn in the preferences of consumers towards thermal spray coatings over hard chrome plating due to stringent regulations by EPA and REACH against the use of high VOC content coatings is expected to the primary drivers of the global thermal spray coatings market over the assessment period.
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Market Segmentation
The global thermal spray coatings market comprise of segments such as the coating material, heat source, process, end-use industry, and region.
In terms of the coating material, the global thermal spray coatings market is segmented into ceramic, carbide, metal & alloys, polymer, and cement.
In terms of the heat source, the global thermal spray coatings market is divided into combustion flame and electrical energy.
In terms of process, the global thermal spray coatings market is categorized as cold spray, flame spray, plasma spray, high-velocity oxy-fuel, electric arc spray, and many others.
In terms of the end-user industry, the global thermal spray coatings market is divided into aerospace, automotive, healthcare, construction, industrial, energy & power, electronics, agriculture, and many others.
Regional Outlook
The global thermal spray coatings market is further studied under main regions such as Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
Among these, Asia Pacific has significant share of the global market regarding size and consumption in support of rapid industrialization due to relaxed investment norms and growing economies. Growth of the market is also attributed to the presence of end-use industries like automotive, healthcare, industrial, energy & power, electronics, agriculture, and others. China, India, and Japan are the foremost contributors to market growth.
North America held the second broader market for thermal spray coatings in 2017 and is now expected to display considerable growth over the review period. The presence of end-use industries such as aerospace, healthcare, industrial, energy & power, and agriculture are the expected drivers to contribute significantly to the market growth during the forecast period.
Europe is counted under the primary market for thermal spray coating, which is now predictable to initiate the demand to some extent over the forecast period due to industries of automotive, agriculture. These are expected to contribute to market growth during the forecast period exceedingly.
In the last, the Middle East & Africa and Latin America regions are also expected to display a steady demand for thermal spray coating over the forecast period, mainly from the growing construction industry.
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