Thermal Spray Coatings Market on a Positive Growth Trajectory, with Growth Pegged at 6%
Preference for thermal spray coatings over conventional hard chrome coatings on the back of superior features such as enhanced coating consistency will continue to provide growth opportunities for the thermal spray coatings market.
The global thermal spray coating market will grow over two-folds during the forecast period (2019-2029). Variety of compatible raw materials such as aluminum, steel, and copper is furthering mass-adoption of thermal spray coating processes.
Enhanced anti-corrosive behavior along with strong electrical resistance is set to poise thermal spray coating as an ideal alternative to conventional coating methods.
Increasing application of raw materials such as aluminum in automotive and industrial manufacturing is also contributing to the growth of the thermal spray coating market.
Industrial Gas Turbines to Grow 4.2X through Forecast Period
Uptake in aerospace projects in developing regions is driving demand for thermal spray coatings from the application segment. Aerospace is poised to hold a majority share of over of the total market value.
The segment exhibits a healthy growth trajectory through 2029. Industrial gas turbines account for the second largest market share with ¼ of the total market value.
Manufacturing trends such as higher firing temperatures and increased levels of oxidation and corrosion resistance in hard environments are favorable developments for thermal spray coatings.
Industrial gas turbine segment exhibits highest growth among various applications such as automotive, medical, steel, pulp, and paper.
Resurgent gas exploration projects in developed countries and the newly discovered shale gas reserves will propel oil & gas as a prominent application segment during the forecast period.
South Asia & Oceania to Remain Key Revenue Pockets
North America and Europe collectively account for a lion’s share of more than 61% of the total market value. The US, Canada, and the UK are catapulting the demand for advanced coating of equipment used in aerospace, industrial gas turbines, and oil & gas applications.
South Asia & Oceania offers high-growth opportunities on the back of stupendous 9.5% CAGR during the forecast period.
Countries in the region such as Indonesia are investing in development of modern aircrafts and aerospace inventories which employ thermal spray coating.
Increasing penetration of thermal spray coatings in medical, steel, pulp, and paper also stimulates the demand for the product in developing countries.
Global Thermal Spray Coatings Market: In-Depth Assessment on Key Segments
The global thermal spray coatings market is segmented on the basis of product, technology, application and region.
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Country-specific assessment on demand for thermal spray coatings has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous thermal spray coatings manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries.
The market has been forecasted based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global thermal spray coatings market.
Some of the major competitors operating in the thermal spray coatings market are Praxair Surface Technologies, Inc., Höganäs AB, H.C. Starck Inc., Castolin Eutectic, Wall Colmonoy Corporation, Powder Alloy Corporation, Saint-Gobain S.A., Carpenter Technology Corporation and others.
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
- Our Clients -
- Evaluate How Fact.MR's Report Can Help. -
Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.