Covid-19 Aftermath of Thermal Spray Coatings Market Upsurging Demand, Growth, Business Insights To 2025
The global ThermalSpray Coatings Market is anticipated to exhibit a healthy CAGR during the forecast period, according to a report available on Million Insights. Thermal spray coating refers to industrial process that involves coating material in wire or powder form and a heat source. The heat source is used to melt the material into tiny droplets, which are sprayed onto substrates at high velocity. This technique is able to improve performance characteristics of the substrates by imparting erosion, wear, corrosion, heat, cavitation, and abrasion. Other advantages include high deposition rate, thick coatings, and low toxic gas emissions.
Growing
need to enhance durability of machines among industries to reduce maintenance
costs is anticipated to propel thermal spray coatings industry growth. Changing
consumer preference for thermal spray coatings over chrome plating owing to
superior properties is expected to impel market growth. Stringent regulations
introduced by governments across various nations to reduce use of material
containing volatile organic compounds (VOCs) will drive the thermal spray
coatings market over the forecast period.
To
cater to rising demand for advanced coating techniques, manufacturing companies
and researchers are investing in R&D to develop innovative methods. For
instance, in January 2018, an Indian scientist was contacted another scientist
from National Aeronautics and Space Administration (NASA) to know more about
former’s thermal spray coating method. The doctor had developed a control
segmented Yttria Stablized Zirconia (YSZ) while working at MEC. The technology
is believed to reduce operational cost of spray coatings by fifty percent.
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Product Insights:
Based
on product, the thermal spray coating market can be categorized into ceramics,
metals, carbides, polymers, abradables, and others.Ceramics segment is
anticipated to exhibit highest CAGR over the forecast period owing to superior
properties such as high temperature resistance and adhesive bonding. Rising
demand for ceramic material in turbine blades, aerospace engine systems, and
flame tubes attributed to better heat resistance will drive segment’s growth in
coming years.
Technology Insights:
On
the basis of technology, the thermal spray coatings market can be classified
into plasma, flame, cold, high-velocity oxygen fuel (HVOF), electric arc, and
others.Plasma spray technology segment is predicted to hold largest market
share over the forecast period. The technology can be used for wide range of
materials including ceramics and metals on small and large components. Some
industrial benefits such as temperature management, wear resistance, electrical
conductivity, and heat and oxidation resistance are driving demand for plasma
technology.
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Application Insights:
In
terms of application, the thermal spray coatingindustry can be segmented into automotive,
industrial, aerospace, medical, steel, oil and gas, pulp and paper, printing,
and others.Aerospace segment is anticipated to hold largest market share over
the forecast period owing to increasing use of thermal spray coatings on
defense aircrafts. These coatings are able to protect aircrafts from corrosion
and regular wear and tear. Major application includes jet engine components
such as piston rings, crank shafts, valves, and cylinder. In addition, landing
gears are also coated to withstand forces during take-off and landing.
Regional Insights:
Regional
segmentation includes North America, Asia Pacific, Central and South America,
and Middle East and Africa.North America is expected to dominate and hold
largest market share over the forecast period owing to growth of aerospace
industry in the region. Presence of industry leaders including Airbus and
Boeing is also contributing well to regional growth. These companies are
exporting aircraft components to countries like China, France, and Germany.
Asia
Pacific, on the other hand, is expected to exhibit highest CAGR in coming years
owing to growing state of automotive and aerospace industry. Rising demand for
commercial aircraft among airlines to accommodate rising number of travelers
per day is driving the market. In addition, increasing sales of passenger and
commercial vehicles owing to rise in deposable income will drive regional
market growth over the forecast period.
Some
of the key players in the thermal spray coatings market are AMT AG, Chromalloy
Gas Turbine LLC, OC Oerlikon Management AG, Plasma-Tec, and Surface Technology.
Key players are adopting business strategies including mergers and acquisitions
to expand their product portfolio.
Market
Segment:
Thermal
Spray Coatings Type Outlook (Revenue, USD Million, 2014 - 2025)
• Metals
• Ceramics
• Intermetallic
• Polymers
• Carbides
• Abradables
• Others
Read more insights on @
Thermal
Spray Coatings Market Opportunities
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Research
Support Specialist, USA
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