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Thermal Spray Coatings Market Is Likely To Touch USD 17.21 Billion By 2027: Grand View Research, Inc

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Thermal Spray Coatings Market Is Likely To Touch USD 17.21 Billion By 2027: Grand View Research, Inc

March 30
13:55 2020
Thermal Spray Coatings Market Is Likely To Touch USD 17.21 Billion By 2027: Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,Increasing demand from the industrial gas turbines application industry coupled with growing preference for the product over hard chrome coatings is expected to augment the growth of global thermal spray coatings market.

According to a report, “Thermal Spray Coatings Market Size, Share & Trends Analysis Report By Application, By Product (Metal, Ceramic, Intermetallic), By Technology (Plasma Spray, Cold Spray, Flame Spray), And Segment Forecasts, 2020 – 2027”, published by Grand View Research, Inc.,The global thermal spray coatings market is expected to reach USD 17.21 billion by 2027, at a CAGR of 6.9% from 2020 to 2027, according to a report published by Grand View Research, Inc. Increasing demand from the aerospace, industrial gas turbines, and a few other application industries is expected to propel the growth. Moreover, growing demand for corrosion-resistant coatings from these sectors is expected to be a key driver for the market.

Thermal spraying is used to improve or restore the surface of a solid material. It can also be used for applying coatings to a wide range of components and materials for better resistance against cavitation, wear, abrasion erosion, and heat. In addition, it is used for providing insulation or electrical conductivity, chemical resistance, lubricity, sacrificial wear, high or low friction, and several other properties to coated surfaces. These coatings have high-potential market opportunity on account of their properties, such as biocompatibility, cavitation resistance, and aesthetic appeal. Increasing oil and gas exploration activities, particularly in Asia Pacific, coupled with upcoming shale gas explorations across the globe are expected to fuel the demand further. There are several regulations governing the global thermal spray coating market.

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These regulatory standards define thermal-spray processes for machinery element repair of ferrous and non-ferrous substrates. Medical is expected to be the fastest-growing application segment on account of increasing application scope of thermal spray coatings in the biomedical sector. These coatings help extend the shelf life and improve performance of dental and orthopedic implants. Advantages of using such coatings in the biomedical sector include superior wear and corrosion resistance and bone bond enhancement. Asia Pacific is expected to be the fastest-growing regional thermal spray coatings market on account of increasing vehicle production along with rapid economic growth in China, India, Japan, Indonesia, South Korea, and Thailand.

U.S. thermal spray coatings market

Further key findings from the report suggest:

  • Aerospace application segment led the thermal spray coatings market accounting with revenue share of 32.30% in 2019 and is projected to maintain its dominance during the forecast period

  • U.S. is anticipated to exceed USD 4.1 billion by 2027 owing to the presence of key manufacturers and suppliers in the country.

  • The global market is highly competitive in nature with the presence of a number of global medium- and small-scale companies

  • Prominent companies include American Roller Company; Praxair S.T. Technology, Inc.; H.C. Starck, Inc.; Flame Spray Technologies BV; Wall Colmonoy; American Roller Company; Powder Alloy Corp.; CRS Holdings Inc; and Montreal Carbide Co. Ltd.

  • These companies engage in strategies, such as mergers and acquisitions and product development, to expand their market reach and product portfolio

Technology Insights

Plasma spray technology led the global market with a revenue share of 31.90%, in 2019. A major advantage of using this coating is its ability to spray a wide range of materials, such as metals and ceramics, on both large and small component. The process provides corrosion and wear resistance, clearance control, heat and oxidation resistance, temperature management, and electrical conductivity and resistivity to the surface. Plasma process is used on gas turbines, printing rolls, industrial diesel engine piston rings, and oil and gas machinery.

Global thermal spray coatings market

Thermal spraying is used to improve or restore the surface of a solid material. This process can be used to apply coatings to a wide range of components and materials, to provide better resistance against cavitation, wear, abrasion erosion, heat, and corrosion. In addition, this process is used to provide insulation or electrical conductivity, chemical resistance, lubricity, sacrificial wear, high or low friction, and other desirable properties to the coated surface.

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Grand View Research has segmented the global thermal spray coatings market on the basis of product, technology, application, and region:

Thermal Spray Coatings Product Outlook (Revenue, USD Million, 2016 – 2027)

  • Ceramics

  • Intermetallics

  • Polymers

  • Carbides

  • Abradables

  • Others

Thermal Spray Coatings Technology Outlook (Revenue, USD Million, 2016 – 2027)

  • Cold Spray

  • Flame Spray

  • Plasma Spray

  • HVOF

  • Electric Arc Spray

  • Others

Thermal Spray Coatings Application Outlook (Revenue, USD Million, 2016 – 2027)

  • Aerospace

  • Industrial Gas Turbine

  • Automotive

  • Medical

  • Printing

  • Oil & gas

  • Steel

  • Pulp & Paper

  • Others

Thermal Spray Coatings Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America

    • U.S

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Finland

    • Denmark

    • Sweden

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Thailand

    • Malaysia

  • Central and South America

    • Brazil

    • Argentina

  • Middle East and Africa

    • Saudi Arabia

    • UAE

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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