- Corrosion resistance, low toxic gas emissions, protection from wear and electrical resistance, and rising demand for Thermal Spray Coatings from the Industrial Gas Turbine applications are the primary drivers of the growth of the market.
JERSEY CITY, N.J., May 20, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Thermal Spray Coatings Market" By Technology (Cold, Flame, Plasma, High-Velocity Oxy-Fuel (HVOF) & Electric Arc), By Product (Metals, Ceramics, Intermetallics, Polymers, Carbides & Abradables), By Application (Aerospace, Industrial Gas Turbine, Automotive, Medical, Printing, & Others), By Process (Combustion Flame and Electrical), and By Geography. According to Verified Market Research, the Global Thermal Spray Coatings Market was valued at USD 7.37 Billion in 2020 and is projected to reach USD 12.52 Billion by 2028, growing at a CAGR of 6.85% from 2021 to 2028.
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Browse in-depth TOC on "Thermal Spray Coatings Market"
202 - Pages
126 - Tables
37 - Figures
Global Thermal Spray Coatings Market Overview
As the global demand of automotive increases due to a rise in disposable income, and increase in the affordability of automotive coupled with advent of technologically advanced smart cars, the demand for Thermal Sprays is going to increase. This upswing in demand will consequently result in the growth of the market. Base materials with low cost and containing advanced coatings on them helps in cutting costs and increasing the service life of an automotive.
Another driving factor of the market is the increasing production of Shale Gas and tight oil. Because there are environmental risks involved with Chrome Electroplating Hexavalent Chromium, due to Hexavalent Chromium's hazardous health impacts on the workers dealing with it is likely to get more stringent around the future. This has led many manufacturers to switch to less environmentally harmful Thermal Spray Coatings. This is likely to propel the growth of the Thermal Spray coatings market.
Key Developments in Thermal Spray Coatings Market
- In July 2019, Oerlikon announced that an agreement has been signed to acquire AMT AG in Kleindöttingen, Switzerland. The acquisition was in line with Oerlikon's strategy to focus and expand its surface solution technologies while increasing market applications and service accessibility to customers.
- In Jan 2020, Turbocoating SpA, the IGT and Aviation division of United coatings Group, a global industry leader in "ready to engine" Thermal Spray Coating Services, announced today that it has signed the agreement to acquire 100% of " LMT - La Metallisation Tarbaise", Tarbes, FR, a company that is focused on thermal spray coatings services for the French Aviation industry.
The major players in the market are Oerlikon Balzers Coating USA, Turbocoating Spa, Lincotek Surface Solutions, Saint-Gobain S.A., Progressive Surface, Inc., American Roller Company, LLC, Praxair Surface Technologies, Inc., H.C. Starck, Inc., Wall Colmonoy Corp., Powder Alloy Corp., among others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Verified Market Research has segmented the Global Thermal Spray Coatings Market On the basis of Technology, Product, Application and Process, and Geography.
- Thermal Spray Coatings Market by Technology
- Cold
- Flame
- Plasma
- High-Velocity Oxy-Fuel (HVOF)
- Electric Arc
- Others
- Thermal Spray Coatings Market by Product
- Metals
- Ceramics
- Intermetallics
- Polymers
- Carbides
- Abradables
- Others
- Thermal Spray Coatings Market by Application
- Aerospace
- Industrial Gas Turbine
- Automotive
- Medical
- Printing
- Oil & Gas
- Steel
- Pulp & Paper
- Others
- Thermal Spray Coatings Market by Process
- Combustion Flame
- Electrical
- Thermal Spray Coatings Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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World's top automotive paint and coating manufacturers offering professional work to make the difference
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