Thermal spray materials have gained substantial momentum at the helm of robust applications across the automotive, aerospace, and manufacturing sectors. It demonstrates greater viability, efficiency, and eco-friendly traits that make it suitable for industrial applications as well. In addition, it also finds its application in biomedical space owing to its low cast and resistance to high heat. Moreover, various players in the market are shoring up their research and development to come up with newer and enhanced use cases of thermal spray materials. During the forecasted timeframe, the major players in the market are likely to engage in strategic partnerships and mergers and acquisitions. Such trends are projected to unlock new revenue streams for the global thermal spray materials market.
Growing Inclination Towards Thermal Plating to Unveil New Growth Prospects
Chrome plating is widely used across industries due to its greater corrosion resistance, tear resistance, and dimensional reclamation capabilities. However, the use of chromium can potentially contaminate groundwater and drinking water supplies, adversely affecting human health and plant and animal life in the vicinity. Such harmful environmental and health impacts have encouraged the development and adoption of alternative processes, including thermal plating technology. Thermal plating is widely acknowledged for its enhanced resilience to corrosion, better versatility, lower heat inputs, and reduced costs. This has resulted in a spontaneous shift toward the adoption of thermal plating, inflating the demand for thermal spray materials on the global front. Accelerated demand and better characteristics are creating promising growth prospects for the global thermal spray materials market.
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Accelerated Demand for Ceramic To Boost Thermal Spray Materials Market Growth
With the rising prominence of thermal spray materials, ceramics are gaining remarkable traction in the biomedicine domain. Besides, it also finds its application across the spectrum of industries including automotive, aerospace, and manufacturing. During the forecast period, ceramics are likely to experience an upwelling demand due to their greater strength and efficiency. Moreover, ceramics can bear high temperatures and exhibit resilience to corrosion. This, along with low cast characteristics, is creating substantial demand for ceramic thermal spray materials around the world. In the coming years, novel developments in the domain and newer use cases are assuring significant growth across the global thermal spray materials market.
Flourishing Aerospace Industry Paves Way for Asia Pacific Dominance
Asia Pacific is anticipated to preserve its foremost position throughout the forecast period at the helm of the burgeoning aerospace industry. Aircraft production in China is likely to create headways for the robust demand for thermal spray materials. Besides, the country has set the tone for regional market growth through increased manufacturing of automobiles. Likewise, emerging economies such as India are projected to garner a substantial share of the thermal spray materials market of Asia Pacific. This can be attributed to the up-ticking investments in the aerospace sector and projects underway for airport construction. Such a landscape is crafting a promising outlook for the regional market in years to follow.
Prominent Market Players
Some of the most competitive players dominating the global thermal spray materials market include KCC Corporation, Coorstek Inc., Integrated Global Services Inc., APS Material Inc., Kennametal Inc., Hoganas AB, Linde Plc, and Morgan Advanced Materials Plc.
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