Thermal spray market boost during the application technology forecast to 2023

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. Aerospace is the largest application segment accounted for over 30% of market share in 2016. Aerospace industry requires efficient wear and thermal resistive coatings in numerous applications. The growing development of the aerospace sector, especially in the developing economies, is expected to boost the market of thermal spray during the forecast period. Global Thermal Spray Market Research Report: Product (Metals, Ceramics, Polymers), Technology (Cold Spray, Flame Spray, Plasma) Application (Automotive, Oil & Gas, Mining) – Forecast Till 2023

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. Flame spray technology is another dominant segment. The enhanced wear & impact resistance makes the use of flame spray suitable for the various applications such as aerospace, machinery, and infrastructure among others.

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The most common technologies used in the thermal spray market are cold spray, flame spray, plasma spray, HVOF, and electric arc spray among others. Among these, plasma spray is the fastest growing technology type and is anticipated to grow at a CAGR of above 5% during the forecast period.  These sprays are used for a protective or decorative coating in many substrates including metals, ceramics, polymers, intermetallic, carbides, abradable, and 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. 

 Key Players and Competition Analysis

Some of the prominent players operating in the global thermal spray market are 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.).

Segmentation Analysis

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.

Regional Analysis

The thermal spray market is segmented into five regions: Latin America, the Middle East & Africa, Asia Pacific, North America, and Europe.  Among these, Asia is expected to be the fastest growing region with an encouraging CAGR. Growing population and the increasing per capita disposable income in the developing nations are primarily driving the growth of the thermal spray market. Moreover, the propelling aerospace and the automobile industry in countries such as India and China, is increasing the demand for thermal spray. Moreover, the growing demand from the oil and gas industry mainly in China, India is another factor positively affecting the market growth.

The growing population has augmented the need for energy in the region which has resulted in a surge in oil and gas activities, thereby increasing the demand for a thermal spray for the use in bearings, pump shafts, hydraulic plungers and other applications. Browse the market data and information spread across 139 pages with 48 data tables and 13 figures of the report “Thermal spray market boost during the application technology forecast to 2023”  in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/thermal-spray-market-5561