Thermal Spray Coatings Market (By Type: Metals, Polymers, Ceramics, Intermetallics, Carbides, Abradables, Others; By Technology: Cold, HVOF, Flame, Plasma, Electric Arc, Others; By Application: Aerospace, Automotive, Medical, Printing, Industrial Gas Turbine, Steel, Pulp & Paper, Oil & gas, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

Category : Chemicals and Materials | Delivery Format : PDF | Status: Published | Pages : 190

The global thermal spray coatings market value is expected to reach around US$ 15.3 billion by 2026 and forecasted to grow at a CAGR around 14.1 % over forecast period 2019-2026. The report provides analysis of global Thermal Spray Coatings market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.

Market Dynamics

In addition to the increasing preference for hard chrome coatings, an increasing demand for product from the industry of gas turbines will increase market growth over the forecast period. Technological innovations are also expected to have a positive impact on market growth for the development of cost-effective products. Furthermore, due to its benefits, such as wear and corrosion, low emissions of toxic gases, spacing capacity and electrical resistance, increasing product application scope is expected to fuel demand.

For the production of such coatings, aluminum, steel, nickel and copper are used among various other materials. These raw materials are used in a number of other industries and applications, other than in thermal spray coatings. The rapid increase in demand for these materials is driving the diverse industries such as paints and coatings, cars, aerospace, medical products and packaging. The continued circulation of raw materials in the value chain could be impeded if demand increased. The discovery of alternative resources, for instance, is, however, expected to help maintain flow in the value chain by using composites used in building and construction rather than aluminum or steel.

The increased scope of application of gas turbines on ships, locomotives, tanks, helicopters, and motorcycles is expected to contribute to an increase in product demand during the forecast period. Polymer and metal coatings, due to their properties such as elevated temperature corrosion conflict, are used in powdered form on industrial gas turbine blades. Thermal carbide coating is widely used in aircraft landing gears as it provides an exceptional resistance to wear and corrosion. The product is being used more and more as a substitute for hard chromium plating. Hexavalent chromium is produced as a byproduct, recognized as a carcinogen, in the production of hard chromium plate.

Industries that produce hexavalent chromium face the future even stricter environmental and occupational regulations. Such trends can have a positive effect on the demand for the product. The car industry is a key segment of application. The product is used to cover different components, like motors, bodies, fenders, mouldings and suspension systems. In this sector, increased automotive production, especially in APAC, is expected to boost demand for products. In addition, the demand for intelligent, green-field and fuel-efficient vehicles is driven by technological progress, shifting consumer preferences and stringent climatic policies.

Type Outlook

Ceramics led the global sales market in 2018. In virtually every type of cover, ceramics include high-speed oxygen (HVOF), water plasma, gas plasma, electric arc, flame and powder flame sprayers. Increased demand for high-performance ceramic coating is anticipated to fuel the industry'S growth over the predicted period, in various industries including energy, healthcare, fiber optics, aerospace & defense, industrial goods and environmental protection. Ceramic clothing is additionally used to replace ceramic slurry and pure-ceramic coated tools with tools such as iron ladles, cast steel moulds, and protective heat elements. These coverings help to extend the tool's service life and reduce the cost of light metal casting.

Technology Insights

In terms of revenue, 2018, the plasma spray technology segment was the world's leader. One of the major advantages of using this coating is its ability to spray on large and small components a wide range of materials like metals and ceramics. This process provides resistance to corrosion and wear, clearance control, thermal resistance and oxidation, temperature management, electrical conductiveness and surface resilience. Plasma processes are used for gas turbines, printers, industrial diesel engines, piston rings and machinery for the oil and gas industry.

The surface of a solid material will be improved by thermal spray. This process can be used to cover a wide range of components and materials to increase cavitation, wear, erosion, heat and corrosion resistance. In addition, this process provides the coated surface with insulation or electrical conductivity, chemical resistance, lubricity, wear, high or low friction and other desired properties.

Application Stance

The aerospace industry played the largest part in the world market in 2018. The demand of this segment will be fueled by product properties like wear and corrosion, low toxic gas emission, thickening capacity etc. A rapid growth in the aerospace sector is expected to have positive consequences on the segment growth over the forecast period, in particular in the field of civil aviation in India and China, due to increasing disposable income levels.

The segment of industrial gas turbines also had significant market participation and is expected to grow steadily during the forecast period. Thermal spray coverings protect against wear, corrosion and friction gas turbine components. They also help the life of these components to be extended. The segment is expected to drive high demand in China and India for gas turbines to promote fuel diversification and reduce the reliance on carbon plants.

Regional Stance

North America was the leading regional market in 2018, and its dominance over the forecast period is expected to continue. The growing aerospace market is expected to fuel product demand in the U.S. together with the emergence of leading aerospace companies in Mexico. Also expected to increase development in the region is that industry giants such as Boeing and Airbus will exist. It is anticipated that the rapid expansion of the auto industry and increased oil exploration will further drive the market in Mexico.

In 2018, Europe represented an important market share. In the pharmaceutical industry, increased research and development expenditure in Europe is expected to fuel demand in the next seven years. In addition to increasing the deployment of increased oil recovery by manufacturers, the huge potential of crude oil and natural gas in Russia is expected to increase market growth. In addition, the expansion of automotive production is expected to boost growth over the forecast period in Austria, Hungary and Romania.

Market Segmentation

Global Thermal Spray Coatings Market, By Type

  • Metals
  • Polymers
  • Ceramics
  • Intermetallics
  • Carbides
  • Abradables
  • Others

Global Thermal Spray Coatings Market, By Technology

  • Cold
  • HVOF
  • Flame
  • Plasma
  • Electric Arc
  • Others

Global Thermal Spray Coatings Market, By Application

  • Aerospace
  • Automotive
  • Medical
  • Printing
  • Industrial Gas Turbine
  • Steel
  • Pulp & Paper
  • Oil & gas
  • Others

Global Thermal Spray Coatings Market, By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Chile
    • Rest of Latin America
  • Middle East and Africa (MEA)
    • South Africa
    • Saudi Arabia
    • Rest of MEA

The market research study on “Thermal Spray Coatings Market (By Type: Metals, Polymers, Ceramics, Intermetallics, Carbides, Abradables, Others; By Technology: Cold, HVOF, Flame, Plasma, Electric Arc, Others; By Application: Aerospace, Automotive, Medical, Printing, Industrial Gas Turbine, Steel, Pulp & Paper, Oil & gas, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Thermal Spray Coatings market segments with market dynamics and their impact. The report provides insights on global Thermal Spray Coatings market by product, operation mode, mounting technique, end use and major geographic regions. The report also covers basic technology development policies.

Key Players & Strategies

The Thermal Spray Coatings market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are Wall Colmonoy ; Powder Alloy Corp. ; Carpenter Technology Corp. ; Montreal Carbide Co. Praxair Surface Technologies ; H.C. Starck, Inc. Kennametal Stellite and among others.

A number of small and medium-size firms meet global and local demands characterize the market. It is characterized by forward integration through the production of raw materials, production and distribution of thermal spray coating to different applications industries. Integration of the value chain over the entire stages leads to a continuous supply of raw materials and low production costs. Some companies ' R&D initiatives to improve their product specification and market reach are expected to further increase demand for products in the coming years.

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