Thermal Spray Coatings Market Rising With Growth In New Technology Trends Research By 2027


The global thermal spray coatings market is expected to reach USD 17.21 billion by 2027, at a CAGR of 6.9% from 2020 to 2027, according to a report published by Grand View Research, Inc. Increasing demand from the aerospace, industrial gas turbines, and a few other application industries is expected to propel the growth. Moreover, 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 coated surfaces. These coatings have high-potential market opportunity on account of their properties, such as biocompatibility, cavitation resistance, and aesthetic appeal. Increasing oil and gas exploration activities, particularly in Asia Pacific, coupled with upcoming shale gas explorations across the globe are expected to fuel the demand further. There are several regulations governing the global thermal spray coating 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 performance of dental and orthopedic implants. 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 thermal spray coatings market on account of increasing vehicle production along with rapid economic growth in China, India, Japan, Indonesia, South Korea, and Thailand.
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https://www.grandviewresearch.com/industry-analysis/thermal-spray-coatings-market/request/rs4
Aluminum, steel, nickel, and copper among others are used for producing such coatings. These raw materials are also used in various other industries and applications. Rapid growth of industries, such as paints and coatings, automotive, aerospace, medical, and packaging, is driving the demand for these materials, which could hamper the continuous flow of raw materials in the value chain. However, with the discovery of alternative resources, for instance, composites used in building and construction instead of aluminum or steel, is expected to help maintain the flow in the value chain.
Further key findings from the report suggest:
·         Aerospace application segment led the thermal spray coatings market accounting with revenue share of 32.30% in 2020 and is projected to maintain its dominance during the forecast period
·         U.S. is anticipated to exceed USD 4.1 billion by 2027 owing to the presence of key manufacturers and suppliers in the country.
·         The global market is highly competitive in nature with the presence of a number of global medium- and small-scale companies
·         Prominent companies include American Roller Company; Praxair S.T. Technology, Inc.; H.C. Starck, Inc.; Flame Spray Technologies BV; Wall Colmonoy; American Roller Company; Powder Alloy Corp.; CRS Holdings Inc; and Montreal Carbide Co. Ltd.
·         These companies engage in strategies, such as mergers and acquisitions and product development, to expand their market reach and product portfolio
Rising application scope of gas turbines in ships, locomotives, tanks, helicopters, and motorcycles is expected to help boost the demand for thermal spray coatings. Polymer and metal coatings are used in powdered form on industrial gas turbine blades on account of their properties, such as high temperature corrosion resistance. Thermal sprayed carbide coatings are widely used on landing gear for aircrafts as they provide exceptional wear and corrosion resistance. The product is increasingly being used as a replacement for hard chromium plating. Hexavalent chromium, which is recognized as a carcinogen, is produced as a byproduct, in the production of hard chromium plating.
Industries generating hexavalent chromium face environmental and occupational regulations, which will be even more stringent in future. These trends are expected to positively impact the product demand. The automotive industry is a key application area for these coatings. The product is used to coat various parts, such as engines, body, fenders, moldings, and suspension systems. Growing automotive production, mainly in Asia Pacific, is expected to propel the demand for thermal spray coatings. Furthermore, technological advancements, shifting consumer preference, and stringent climate related policies are driving the demand for smart, environment-friendly, and fuel efficient vehicles. The demand for hybrid vehicles is also expected to intensify, thus impacting the product demand.
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https://www.grandviewresearch.com/press-release/global-thermal-spray-coating-market
Grand View Research has segmented the global thermal spray coatings market on the basis of product, technology, application:
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

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.






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