Thermal Spray Coatings Market Value to Hit $15.01 Billion By 2025A research report on Thermal Spray Coatings Market focuses primarily on identifying opportunities in the marketplace and providing the latest updates and insights that impact the various segments of the market. The report also includes analysis of operating factors and constraints that affect the market.
Thermal spray coating is the technology used to reestablish or enhance the surface of solid material. However, process is used to apply coatings to various type of components and materials for cavitation, erosion, corrosion, abrasion resistance and heat.
In the year 2017, the size of global thermal spray coatings market accounted at USD 8.92 Bn. Hence, coatings are instrumental in improving and enhancing the electrical resistance, component, thickness capability, decreased toxic gas emissions and protection from corrosion. Thus market size is projected to be worth USD 15.01 Bn by 2025. This can be attributed to its increasing usage in aerospace and automotive industries. Thus, the properties are increasing the demand for market globally.
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Thermal Spray Coatings Market: Key Manufactures are Praxair Surface Technologies, TWI Ltd., TST Engineered Coating Solutions, Metallisation Ltd., Air Products & Chemicals, Flame Spray Coating Co., Oerlikon Metco, A&A Coatings, Curtis-Wright Corporation, Plasma-Tec, Inc. and White Engineering Surfaces Corporation.
Growth in the demand for product from industrial gas turbines industry related to the increasing preference on the hard chrome coatings is projected to increase the market growth during the forecast period. Inventions in technology for the expansion of affordable products are anticipated to have the optimistic impact on the growth of thermal spray coatings market. Moreover, rising product application due to the benefits like low toxic gas emissions, corrosion and wear protection, electrical resistance and thickness capability is anticipated to boost the demand for global thermal spray coatings market.
Increasing application of locomotives, gas turbines in ships, helicopters, motorcycles and tanks is projected to assist the demand for thermal spray coatings products in the coming years. Metal and polymer coatings are useful in powdered form on the blades of industrial gas turbines on the basis of the properties like corrosion resistance for high temperature. Although, industries producing hexavalent chromium face occupational and environmental guidelines, are stricter in future. However, the trends are projected to definitely affect the demand for global thermal spray coatings market. Thus, automotive industry is the main segment of application.
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Thermal sprayed carbide coatings are extensively used in alighting gear for aircrafts on providing corrosion resistance and exceptional wear. However, product is used as the alternative for hard chromium plating. Thus, in production of hard chromium plating, byproduct like hexavalent chromium is produced and identified as carcinogen. In terms of regional segmentation the product is utilized to coat several parts like body, engines, moldings, suspension system and fenders. Developing automotive production, specifically in Asia Pacific is anticipated to fuel the demand for the global thermal spray coatings market.
Asia Pacific accounts for over 22% of incomes in thermal spray coatings market globally and anticipated to develop at CAGR in the coming years. Growing need for the thermal spray coatings from automotive and aerospace industries is projected to show the promising growth opportunities in the region. Occurrence of important manufacturers in the region is the important factor fueling the automobile industry.
Reasons for the study:
- The purpose of the study is to give an exhaustive outlook of the global thermal spray coatings market.
- While studying the market, we observed that ceramics is projected to grow at the fastest rate owing to the rising need for high performance ceramic coatings performance ceramic coatings in various sectors, including aerospace & defense, healthcare, fiber-optic communications, energy, industrial goods, and environmental protection.
- The global thermal spray coatings market has been mainly driven by the increasing usage in aerospace and automotive industries across the globe.
- The industrial gas turbine application is projected to witness fastest growth in the coming years the properties of thermal spray coatings such as, protection of gas turbine components against friction, wear, and corrosion.
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