Thermal Spray Market Size, Value, Trend and Outlook 2023
Posted by Rishab Gupta on January 17th, 2020
Thermal Spray Market Introduction
Thermal spraying is an industrial process of coating that involves the formation of substrates in the semi-molten and molten state. Thermal spraying provides thick coatings up to 20 mm over a large area and deposition rate than other coatings. These sprays are used for a protective or decorative coating in many substrates including metals, ceramics, polymers, intermetallic, carbides, abradable, and others.
Extensive Use of Thermal Spray from the End-User Industries is Projected to drive the Market Growth during the forecast period, 2017-2023
Among the various product segments in Thermal Spray Market, the ceramics is expected to be the leading segment of the market and is anticipated to show a considerable CAGR during the forecast years. The growing demand for efficient ceramic coatings in healthcare, defense, aerospace, and oil & gas sector among others is the major factor fuelling the market growth.
Metals are the second largest product segment and are anticipated to account for over 20% of market share during the assessed years. The growing application of metals in various sectors has increased the demand for coatings, in turn, contributing to the growth of the segment.
A & A Thermal Spray Coatings (U.S.), Flame Spray Coating Company (U.S.), General Magnaplate Corporation (U.S.), Praxair Surface Technologies, Inc. (U.S.), Oerlikon Metco (Switzerland), Plasma-Tec, Inc. (U.S.), Surface Technology Inc (U.K.), H.C. Starck GmbH (Germany), and ASB Industries, Inc. (U.S.), among others.
The properties such as enhanced engineering performance increased shelf life, and low coating cost makes them a suitable substitute in comparison with other coatings.The growing demand from the end-user industries such as aerospace, automobiles, oil & gas, steel, medical and printing among others is substantially driving the growth of the market. However, low adoption rate coupled with the growing threat of substitution are some of the major restraints in the growth of the market.
The global thermal spray market is spanned across five regions of the world namely Europe, Asia Pacific, Latin America, North America and the Middle East & Africa. Among these, North America holds a major share of the global market and is projected to be the leading market, owing to the increasing consumption of thermal spray in the oil & gas, steel and oil and gas industry among others. It is estimated that the aerospace end-user segment is set to observe the highest CAGR in the market followed by the oil and gas activities in the developing regions to meet their energy requirements.
The North American market is expected to grow at a steady CAGR due to extensive consumption of thermal spray in the aerospace and automobile sector. The Canada. and the U.S. have achieved a significant place in the market due to the growing oil and gas activities post the shale gas boom in the region. Moreover, the growing use of the industrial gas turbine is expected to augment the growth during the forecast period further.
The Middle East thermal spray market is expected to witness a steady growth due to the growing oil and gas activities in the region. The growing exploration and production activities in the region has boosted the use of thermal spray in the sleeves, hydraulic pumps, compressor rods, lip seal seats, rotors extruders, and pump shafts among others.
The global thermal spray market is segmented into product, application, and technology. On the basis of the product type, the market is segregated into metals, ceramics, intermetallic, polymers, carbides, abradable and others. The market by technology is further categorized into cold spray, flame spray, plasma spray, HVOF, electric arc spray, and others. On the basis of the application, the market is segregated into aerospace, industrial gas turbine, automotive, medical, printing, oil & gas, steel, pulp & paper, and others
Browse Complete Report Summary of “Thermal spray Market Research Report- Forecast to 2023” @ https://www.marketresearchfuture.com/reports/thermal-spray-market-5561
LIST OF TABLES
Table 1 World Population By Major Regions (2017 To 2030)
Table 2 Global Thermal Spray Market: By Region, 2017-2023
Table 3 North America Thermal Spray Market: By Country, 2017-2023
Table 4 Europe Thermal Spray Market: By Country, 2017-2023
Table 5 Asia-Pacific Thermal Spray Market: By Country, 2017-2023
Table 6 Middle East & Africa Thermal Spray Market: By Country, 2017-2023
Table 7 Latin America Thermal Spray Market: By Country, 2017-2023
Table 8 Global Thermal Spray By Product Type Market: By Regions, 2017-2023
Table 9 North America Thermal Spray By Product Type Market: By Country, 2017-2023
Table10 Europe Thermal Spray By Product Type Market: By Country, 2017-2023
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About the AuthorRishab Gupta
Joined: November 25th, 2019
Articles Posted: 303
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