Global Thermal Spray Coatings Market to surpass US$ 14.7 BN By 2025
Posted On February 11, 2019
The Global Thermal Spray Coatings Market was valued close to USD 9.5 BN (by revenue) in 2018 and is anticipated to reach USD 14.7 BN by 2025 with a CAGR of 6.5% as per the latest published report by Value Market Research. The report covers A&A Company, Inc., Air Products & Chemicals, ASB Industries Inc., ASM International, Cincinnati Thermal Spray, Inc., Flame Spray Coating Co., Integrated Global Services, MesoCoat Inc. Coating, Metallisation, Metallizing Equipment Co. Pvt. Ltd, Praxair Surface Technologies, Precision Coatings, Inc., Thermion, TST Engineered Coating Solutions, and TWI Ltd. among other key leaders of the industry.
Thermal spray coating is a process in which the substrate is being deposited by devices such as a spray gun or torch or other equipment in the molten or semi-molten state. This technology is basically used to offer various types of protection in the form of coatings to a wide range of industrial components. Their usage is also suitable for specialized applications that require the materials to withstand forces at high temperatures. Automotive, aerospace, construction, and oil and gas are some of the end-users industries for the thermal spray coatings.
The report “Global Thermal Spray Coatings Market Report By Product (Metals, Ceramics, Intermetallic, Polymers, And Others), Applications (Aerospace, Industrial Gas Turbine, Automotive, And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation, and Forecast, 2019-2025“ provides all the key market data points in detail.
Owing to their ability to prevent wear and tear of components caused by erosion, abrasion, corrosion, and other environmental factors they are being increasingly used in numerous end-user industries which is projected to fuel the market growth as per the report. The necessity to enhance the durability of the machinery component in order to cut down the high replacement cost in several end-user industries will further propel thermal spray coating market demand. Rising demand for superior surface properties to enhance the service life of equipment is also expected to boost the demand for thermal spray coatings over the forecast timeline. Technological advancement in terms of process and materials is expected to open doors of opportunity to the market.
The market segmentation covered in the report are by product, application, and region. The product includes metals, ceramics, intermetallic, polymers, and others. Out of which, ceramics is dominating the segment owing to their ability to protect the surface against wear and tear caused by a various environmental factor such as erosion, corrosion, abrasion. Application area comprises aerospace, industrial gas turbine, automotive, and others. Aerospace has emerged as the largest application area since thermal spray coating provides protection against various environmental factors to aeronautic components that require hard and wear resistant coatings. Geographical segmentation has been done over top-five region include, North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America is dominating the global thermal spray coatings market owing to the increasing investment in the aviation and defense industry by respective regulatory bodies. Also, driving demand from the various end-user industry like energy and power, automotive, and oil & gas industry is further expected to augment the regional market growth.
The Report Segments Global Thermal Spray Coatings Market -
- Industrial Gas Turbine
- North America
- Latin America
- Middle East and Africa
Players Profiled In the Report:
A&A Company, Inc., Air Products & Chemicals, ASB Industries Inc., ASM International, Cincinnati Thermal Spray, Inc., Flame Spray Coating Co., Integrated Global Services, MesoCoat Inc. Coating, Metallisation, Metallizing Equipment Co. Pvt. Ltd, Praxair Surface Technologies, Precision Coatings, Inc., Thermion, TST Engineered Coating Solutions, and TWI Ltd.
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