The global thermal spray coatings market size is expected to reach USD 13.6 billion by 2027, expanding at a CAGR of 3.9%, according to a new report by Grand View Research, Inc. Increasing demand from the aerospace, industrial gas turbines, and a few other application industries is expected to propel market growth. Moreover, the growing demand for corrosion-resistant coatings from these sectors is expected to be a key driver for the market.
Thermal spraying is used to improve or restore the surface of a solid material. It can also be used for applying coatings to a wide range of components and materials for better resistance against cavitation, wear, abrasion erosion, and heat. In addition, it is used for providing insulation or electrical conductivity, chemical resistance, lubricity, sacrificial wear, high or low friction, and several other properties to the coated surfaces. These coatings have the high-potential market opportunities on account of their properties, such as biocompatibility, cavitation resistance, and aesthetic appeal. Increasing oil and gas exploration activities, particularly in the Asia Pacific, coupled with upcoming shale gas explorations across the globe are expected to fuel the demand further. There are several regulations governing the market.
These regulatory standards define thermal-spray processes for machinery element repair of ferrous and non-ferrous substrates. Medical is expected to be the fastest-growing application segment on account of increasing application scope of thermal spray coatings in the biomedical sector. These coatings help extend the shelf life and improve the performance of dental implants and orthopedic implants. The advantages of using such coatings in the biomedical sector include superior wear and corrosion resistance and bone bond enhancement. Asia Pacific is expected to be the fastest-growing regional market on account of increasing vehicle production along with rapid economic growth in China, India, and Japan, Indonesia, South Korea, and Thailand.
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Further, the recent outbreak of COVID-19 has disrupted supply chains and sharply curtailed product demand. Restriction in transportation and supply due to slowdown or halting of factories and partial or nationwide lockdowns in several countries in order to restrain the spread of the pandemic is expected to negatively impact market growth.
Thermal Spray Coatings Market Report Highlights
l Aerospace application segment led the market accounting for a revenue share of 32.3% in 2019 and is projected to maintain its dominance during the forecast period
l In the U.S., the market is anticipated to reach USD 3.8 billion by 2027 owing to the presence of key manufacturers and suppliers in the country
l The market is highly competitive in nature with the presence of a number of global medium- and small-scale companies
l Key companies engage in strategies, such as mergers and acquisitions and product development, to expand their market reach and product portfolio
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Thermal Spray Coatings Market Segmentation
Grand View Research has segmented the global thermal spray coatings market on the basis of product, technology, application, and region:
Thermal Spray Coatings Product Outlook (Revenue, USD Million, 2016 – 2027)
Ceramics
Intermetallics
Polymers
Carbides
Abradables
Others
Thermal Spray Coatings Technology Outlook (Revenue, USD Million, 2016 – 2027)
Cold Spray
Flame Spray
Plasma Spray
HVOF
Electric Arc Spray
Others
Thermal Spray Coatings Application Outlook (Revenue, USD Million, 2016 – 2027)
Aerospace
Industrial Gas Turbine
Automotive
Medical
Printing
Oil & Gas
Steel
Pulp & Paper
Others
Thermal Spray Coatings Regional Outlook (Revenue, USD Million, 2016 – 2027)
North America
The U.S.
Canada
Mexico
Europe
Germany
The U.K.
France
Finland
Denmark
Sweden
Asia Pacific
Japan
China
India
Australia
Thailand
Malaysia
Central & South America
Brazil
Argentina
Middle East & Africa
Saudi Arabia
United Arab Emirates (UAE)
Oman
Key Topics Covered
Table of Content
Chapter 1 Methodology and Scope
1.1 Market Definition
1.1.1 Information Procurement
1.1.2 Purchased Database
1.1.3 GVR’s Internal Database
1.1.4 Secondary Sources & Third-Party Perspectives
1.1.5 Primary Research
1.2 Information Analysis
1.2.1 Data Analysis Models
1.3 Market Formulation & Data Visualization
1.4 Data Validation & Publishing
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Market Segmentation
Chapter 3 Thermal spray coatings market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Global Coatings Market Outlook
3.2 Thermal Spray Coatings Market Dynamics
3.3 Penetration & Growth Prospect Mapping
3.4 Industry Value Chain Analysis
3.4.1 Raw Material Trends
3.4.1.1 Epoxy Resin
3.4.1.2 Polypropylene
3.4.1.3 Aluminium
3.4.1.4 Steel
…. continue
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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