The global thermal spray coatings market is anticipated to grow at a CAGR of around 7.1% during the forecast period 2020 to 2027 and to reach around US$ 17.4 Bn by 2027.
Rapid technological advancements in coating, rising demand for advanced and superior coating method is resulting in demand for thermal spray coating from various end use industries such as medical, automotive, aerospace, etc. is major factor expected to drive the growth of the global market. Automotive industry is witnessing rapid advancements across the globe with the changing vehicle standards manufactures are focused on delivering better quality vehicles. Wide applicability of thermal spray coating in major components of vehicles in order to increase the life cycle of product such as piston rings, cylinder liners, synchronizing rings, crank shaft repairs, exhaust pipes, turbocharger, etc.
Government is spending high spending high for the development of healthcare sector, with the device manufactures focus of providing better quality medical devices this is expected to increase demand for thermal spray coating further expected to support the growth of target market.
Major player are focused on business expansion through establishing new manufacturing facility overseas this is expected to increase the customer base and enhance the profit ratio further expected to augment the growth of target market.
In addition, inclination towards acquisition of private companies and collaborative work with other public/private companies is another factor expected to further support the growth of target market.
However, factors such as fluctuation in raw material prices and stringent government regulation related to product approval are expected to hamper the growth of global thermal spray coatings market. In addition, limited investment by major players for R&D activities is another factor expected to challenge the growth of global market.
High investment by major players and inclination towards emerging economies in order to increase the profit is expected to create new opportunities for players operating in the target market over the forecast period..
Thermal Spray Coating Market Segment Analysis, 2019
The global thermal spray coatings market is segmented into product, technology, and application. The product segment is bifurcated into ceramics, intermetallics, polymers, carbides, abradables, and others. Among application the automotive segment is expected to account for significant revenue share in the global market.
Segment Analysis by Region
The market in North America is expected to account for significant revenue share owing to rising demand from healthcare sector. In addition, presence of major players operating in the country and approach towards increasing the profit ratio is another factor expected to further support the growth of the regional market.
Asia Pacific is expected to witness faster growth in the near future owing to high demand from automotive sector. In addition, rapid industrialization in emerging economies and demand for thermal spray coating from oil & gas, steel, and pulp & paper sectors is expected to further support the growth of target market in this region.
The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Global Thermal Spray Coating Market
2016 – 2027
2020 – 2027
Product, Technology, Application and Geography
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
The market research study on “Thermal Spray Coating Market (Product: Ceramics, Intermetallics, Polymers, Carbides, Abradables, Others; Technology: Cold spray, Flame spray, Plasma spray, HVOF, Electric arc spray, and Others; Application: Aerospace, Industrial Gas Turbine, Automotive, Medical, Printing, Oil & Gas, Steel, Pulp & Paper, and Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global thermal spray coating market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global thermal spray coating market segment by product, technology, application and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global thermal spray coating market size and segment markets by product, technology, application and geography along with the information on companies operating in the market. The thermal spray coating market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report H.C. Starck GmbH., Wall Colmonoy, Praxair S.T. Technology, Inc, CRS Holdings Inc, Montreal Carbide Co. Ltd., Kennametal Stellite, and Powder Alloy Corporation.
Market By Product
Market By Technology
Market By Application
Market By Region
Middle East & Africa
The global thermal spray coating market in 2027 is expected to be above US$ 17 Bn.
In application the automotive segment is growing at faster pace.
The CAGR of the global thermal spray coating market from 2020-2027 is above 7.0%.
In the global market the Asia Pacific region is expected to grow faster.
Some of the players considered in the report scope are Montreal Carbide Co. Ltd.; Kennametal Stellite, and Powder Alloy Corporation.
The market in North America is expected to account for significant revenue share owing to rising demand from healthcare sector.
The thermal spray coating market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.