Thermal Spray Coatings Market Demand Analysis in 2021, Global Revenue, Top Companies Growth Forecast to 2027
Theglobal ''thermalspray coatings market'' size is expected to showcase an exponential growthby reaching USD 17.63 billion by 2027. This is attributable to the growingaerospace industry and the increasing demand for weight reduction in aircraftto improve performance and fuel efficiency that propels the demand forinnovative thermal spray coatings across the globe. Fortune Business Insights,in its latest report, titled, “ThermalSpray Coatings Market Size, Share & COVID-19 Impact Analysis, By Material(Ceramic, Metal & Alloy, Polymer, Intermetallic, and Others), By Technology(Flame Spray, High-Velocity Oxygen Fuel (HVOF) Spray, Electric Arc Spray,Plasma Spray, Cold Spray, and Others), By Application (Aerospace, IndustrialGas Turbine, Automotive, Medical, Paper & Printing, Oil & Gas, Steel, andOthers), and Regional Forecast, 2020-2027.”, observes thatthe market stood at USD 10.23 billion in 2019 and is projected to exhibit aCAGR of 7.8% between 2020 and 2027.
List of the Leading Companies Profiled in the Global ThermalSpray Coatings Market are:
- Praxair S.T. Technology, Inc. (U.S.)
- Bodycote (UK)
- Oerlikon Metco (Switzerland)
- Surface Technology UK (UK)
- H.C. Starck GmbH (Germany)
- F.W. Gartner Thermal Spraying (U.S.)
- Höganäs AB (Swedan)
- Metallisation Limited (UK)
- Flame Spray SpA (Italy)
- BryCoat Inc. (U.S.)
- Carpenter Technology Corporation (U.S.)
- A&A Thermal Spray Coatings (U.S.)
- ASB Industries, Inc. (U.S.)
- Polymet Corporation (U.S.)
- TST Coatings Inc. (U.S.)
- Other Key Players
Thesespray coatings are generally adopted to either restore or improve the surfaceof wide range of materials. These coatings prevent the surface from erosion,abrasion, corrosion, wear and tear, and heat, among other external factors.Owing to their several benefits, they are widely adopted across severalindustrial applications such as automotive, aerospace, and oil & gas.
Limited Supply of Raw Materials Affecting Vertical End-user amidCOVID-19
Theglobal pandemic has to lead to a complete halt in industrial activities acrossthe globe. This is resulting in the shortage of raw materials supplyexperienced by the vertical end-users that is expected to create a shortfall inthe demand to some extent. However, the growing demand for thermal spraytechnology by the healthcare industry is expected to brighten the marketprospects and mitigate economic loss suffered by the market in the forthcomingyears.
Study Period: 2016-2027
Base Year: 2019
Forecast Period:2020-2027
Historical Period:2016-2018
What does the Report Include?
Themarket report includes quantitative and qualitative analysis of several factorssuch as the key drivers and restraints that will affect market growth. Inaddition to this, the report provides insights into the regional analysis. Itincludes the competitive landscape that involves leading companies and novelproducts as well as major collaborations. The research analyst has adoptedseveral research methodologies such as PESTEL and SWOT analysis to extractinformation about the current trends and industry developments that will drivethe market growth in the forthcoming years.
DRIVING FACTORS
Increasing Adoption of Thermal Spray Coatings in Aerospace toFavor Growth
Thegrowing demand to improve fuel efficiency and performance of aircraft isdriving the demand for innovative spray coatings of thermal type across theaerospace industry. These coatings protect turbine blades of engines fromextreme temperatures while ensuring high reliability of the components forlonger duration. In addition to this, the increasing refurbishment activitiesto replace old components of the aircraft are expected to propel the demand forthese coatings across the globe. Therefore, the growing aerospace sector backedby rising travel globally is expected to drive the global market in theforthcoming years.
REGIONAL INSIGHTS
North America to Remain Dominant; Growing Aviation Sector in NorthAmerica to Surge Demand
Amongall the regions, North America is expected to remain at the forefront and holdthe highest position in the global market in the forthcoming years. Thisdomination is attributable to the growing aviation sector that is driving thedemand for advanced thermal spray coating to improve aircraft efficiency andprevent the components from corrosion. The region stood at USD 3,217.6 millionin 2019.
Themarket in Europe is anticipated to experience a significant growth backed bythe increasing adoption of these spray coatings over hard chrome coatings owingto stringent government regulations in the region between 2020 and 2027.
COMPETITIVE LANDSCAPE
Major Companies Focus on Investments in R&D Activities toBrighten Market Prospects
Theglobal thermal spray coatings market is fragmented by the presence of thesmall, medium, and large companies that are focusing on investing in developingadvanced thermal spray coatings to leverage the rising demand from theaerospace and automotive sector. The adoption of strategies such as merger andacquisition, collaboration, and partnership by key players is further expectedto boost the prospects of the market in terms of revenue during the forecastperiod.
SEGMENTATION
Ceramic Segment Held a Major Market Share in 2019
Theceramic segment, based on material, held a major market share in 2019 and isexpected to experience exponential growth owing to the increasing adoption ofceramic coatings by the biomedicine industry across the globe.
Thermal Spray Coatings Market Report Focus on:
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
Key Questions Answered:
Why Choose Fortune Business Insights?
What are the key demands and trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
What is the market size and growth rate of the global and regional market byvarious segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecastperiod?
What Factors are estimated to drive and restrain the market growth?
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/thermal-spray-coatings-market-102388
Key Industry Development:
June 2020 – Flame Spray Spa, an Italianthermal spray coatings specialist, announced its investment in QIH 122 M URCHot Isostatic Press (HIP) by Quintus Technologies. According to the company,the purchase is meant to cater to the growing demand for heat treatment and thedensification of aerospace parts and other components.
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