The Global Thermal Spray Coatings Market is projected to exhibit at a CAGR of over 6.5% to reach a value of more than USD 16.8 billion by 2027.
Thermal spraying is a technology that improves or restores the surface of a solid material. The process involves heating a material in powder or wire form to a molten or semi-molten state. The heated material is sprayed on the substrate material at a high velocity. It is used to provide resistance against wear, erosion, cavitation, corrosion, abrasion, and heat.
Thermal spraying is also used to provide electrical conductivity or insulation, lubricity, high or low friction, chemical resistance, and many other desirable surface properties.
Market Drivers:
Extensive use of thermal spray coatings in end-use industries such as aerospace, automotive, and healthcare is one of the key drivers for the market growth. The aerospace industry remains the largest contributor to the growth of the thermal spray coatings market, owing to the requirement of high thermal and wear resistance. Thermal spray coatings are being used in a wide range of aerospace components such as jet engine components, turbine blades, and landing gears, among others.
Additionally, the coatings are used in the healthcare industry for various applications such as prosthetics, orthopedics, dental implants, among others.
Thus, extensive growth of major end-use industries across the globe is projected to propel the market demand.
Stringent regulations by the US Environmental Protection Agency and European Chemicals Agency on the use of high VOC content coatings such as hard chrome coatings. Additionally, thermal spray coatings are inexpensive, thus having a positive impact on their demand.
Therefore, use of thermal spray coatings as a substitute for hard chrome coatings is a driver of the global market.
Market Restraint:
Although thermal spray coatings exhibit numerous advantages, it has certain drawbacks. Firstly, the process requires a high initial set-up cost on the account of an expensive apparatus. The process restricts the precise evaluation of its effectiveness, apart from a visual assessment. Moreover, Thermal spray systems can produce ultraviolet light. For instance, plasma systems are known to operate at high intensity in the UV-C region while flame spray processes can produce radiation that resides in the erythemal or UV-B region. Prolonged exposure to such radiation may cause flash burns damage to the eyes, altered skin cell growth, and skin burns.
Therefore, disadvantages associated with thermal spray coatings is a major restraining factor.
The report on the thermal spray coatings market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
Base Year for Market Calculation |
2020 |
Forecasted Period |
2021-2027 (2020 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) Volume (Kiloton) |
Segments Included |
Material Type, Process, and End-users |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa |
Key Companies Covered
For the scope of the report, In-depth segmentation is offered by Forencis Research
Thermal Spray Coatings Market, by Material Type
Thermal Spray Coatings Market, by Process
Thermal Spray Coatings Market, by End-Users
Thermal Spray Coatings Market, by Region
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY