$15B+ Thermal Spray Coatings Market by Product (Metal, Ceramic, Abradable), Technology (Plasma Spray, HVOF), Application (Aerospace, Medical) and Segment – Global Forecast to 2030 – ResearchAndMarkets .com
DUBLIN–(BUSINESS WIRE)–The “Thermal Spray Coatings Market Size, Share and Trend Analysis Report by Product (Metal, Ceramic, Abradable), by Technology (Plasma Spray, HVOF), by Application (Aerospace, Medical) and Segment Forecast, 2022-2030” report has been added to from ResearchAndMarkets.com offer.
The global thermal spray coatings market size is expected to reach USD 15.41 billion by 2030, growing at a CAGR of 4.8% over the forecast period. The growth of the global market is attributed to developments in aerospace, automotive, industrial gas turbines, oil and gas, steel, printing, and medical applications. Thermal spray coatings provide improved electrical/thermal conductivity, wear resistance, lubricity, chemical resistance, heat resistance and corrosion resistance to machine parts. Most machine parts are of high value, the frequent replacement of which is uneconomical and leads to high costs for end user industries.
For example, drill bits used in mining and offshore drilling operations must withstand the impact of hard ground and the reaction of chemicals below the surface. Thermal spray coatings provide the required corrosion and wear resistance which is vital in operations of this scale and can be expected to grow in consumption due to an increase in industry demand for the metal automotive and electronics. Thermal spray coating manufacturers are entering into technology collaborations to improve current technologies for better market positioning. For example, in April 2020, ASB Industries collaborated with the University of Nevada and Akron to develop double-layer coatings on magnesium.
The company’s current cold-spray aluminum coatings on magnesium alloys are very susceptible to localized corrosion in chloride-containing solutions. The continuous development of a titanium-aluminum coating layer on the magnesium increases the micro-hardness, thereby reducing the wear rate. Such technology collaborations can increase the demand for products over the next few years. Market players are also investing in expanding their manufacturing capabilities. For example, in March 2021, Oerlikon Metco Coating Services established a world-class additive manufacturing facility in Huntersville, a suburb of Charlotte, North Carolina, to add thermal spray and laser coating capabilities under one roof.
The expansion strategy aims to improve proximity to major aerospace and power generation customers in North America. The global market is highly competitive due to the presence of several players. Manufacturers launch new products and enter into contracts with end users to increase their market share. For example, in January 2022, Advanced Nanotech Lab won a $15 million contract to supply its ceramic-based coatings to a major automotive player. Such contracts with end-user companies can provide reliable product demand for market players.
Highlights of the Thermal Spray Coatings Market Report
Medical Applications Segment is Expected to See the Fastest CAGR During the Forecast Period
The growth is attributed to the widespread use of plasma spray coating technology in orthopedic, dental and cardiovascular implants, which are seeing an increase due to the increase in the geriatric population and injuries associated with the growing popularity of competitions of mixed martial arts.
The ceramic products segment led the market in 2021 due to stringent government regulations, mainly in North America and Europe, which are driving the demand for environmentally friendly products, thereby increasing the market growth
Governments in various countries have implemented strict regulations against the use of coal-fired power plants and are shifting towards gas-fired power plants, which may boost the demand for industrial gas turbines for power generation and help to market growth.
Praxair Surface Technologies, Inc.
HC Starck Inc.
Wall Colmonoy Corporation
powder alloy company
carpenter technology company
Durum wheat Verschleiss-Schutz GmbH
Montreal Carbide Co. Ltd.
GTV Verschleischutz GmbH (GTV Wear Protection GmbH)
Flame spray technologies
Progressive Surface, Inc.
TOCALO Co., Ltd.
American Roller Company, LLC
Lincotec surface solutions
John Wood Group PLC
Thermal projection FW Gartner
Flame Spray Coating Co.
TST Coatings, Inc.
Air Products and Chemicals, Inc.
Metallizing Equipment Co. Pvt. ltd
Integrated Global Services
A&A thermal spray coatings
Precision Coatings, Inc.
Cincinnati Thermal Spray, Inc.
Abler GmbH & Co. KG
Embedded Plasma Technology
HFW Industries, Inc.
Root Flame Spray Inc.
Main topics covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Market Overview
2.2 Market Segmentation
Chapter 3 Thermal Spray Coatings Market Variables, Trends and Scope
3.1 Market Lineage Prospects
3.2 Thermal Spray Coatings Market Dynamics
3.3 Mapping penetration and growth prospects
3.4 Value chain analysis
3.5 Assessment of market opportunities
3.6 Analysis of market variables
18.104.22.168 Rising Demand for Industrial Gas Turbines
22.214.171.124 Increased preference over hard chrome coatings
3.6.2 Market Restraint Analysis
126.96.36.199 Commodity price volatility
3.7 Impact of COVID-19 on the Thermal Spray Coatings Market
3.8 Business Environment Analysis: Thermal Spray Coatings Market
3.10 List of regulations
3.11 List of regulations, by raw material
3.11.1 Epoxy resin
3.11.8 Iron Ore
Chapter 4 Thermal Spray Coatings Market: Product Estimates and Trend Analysis
4.1 Thermal Spray Coatings Market: Product Movement Analysis, 2021 & 2030
Chapter 5 Thermal Spray Coatings Market: Technology Estimates and Trend Analysis
5.1 Thermal Spray Coatings Market: Technology Movement Analysis, 2021 & 2030
5.2 Cold spray
5.3 Flame spraying
5.4 Plasma spraying
5.5 High Velocity Oxyfuel (HVOF)
5.6 Electric arc spraying
Chapter 6 Thermal Spray Coatings Market: Application Estimates and Trend Analysis
6.1 Thermal Spray Coatings Market: Application Movement Analysis, 2021 & 2030
6.3 Industrial gas turbine
6.7 Oil and gas
6.9 Pulp and paper
Chapter 7 Thermal Spray Coatings Market: Regional Estimates and Trend Analysis
7.1 Thermal Spray Coatings Market: Regional Movement Analysis, 2021 & 2030
7.2 North America
7.5 Central and South America
7.6 Middle East and Africa
Chapter 8 Competitive Landscape
8.1 Global Key Players and Recent Developments and Their Impact on the Industry
8.2 Categorization of Major Companies/Competitions
8.3 List of Key Companies, by Region
8.4 List of Key Companies, by Technology/Product
For more information about this report visit https://www.researchandmarkets.com/r/xtgp5t