Thermal Spray Coatings Market Is Projected To Register A Healthy CAGR Of $13.6 Billion From 2020 To 2027 | Grand View Research, Inc.

Thermal Spray Coatings Market Is Projected To Register A Healthy CAGR Of $13.6 Billion From 2020 To 2027 | Grand View Research, Inc.

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According to report published by Grand View Research, The global thermal spray coatings market size was valued at USD 10.1 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 3.9% from 2020 to 2027.

The global thermal spray coatings market size is expected to reach USD 13.6 billion by 2027, expanding at a CAGR of 3.9%, according to a new report by Grand View Research, Inc. Increasing demand from the aerospace, industrial gas turbines, and a few other application industries is expected to propel market growth. Moreover, the growing demand for corrosion-resistant coatings from these sectors is expected to be a key driver for the market.

Thermal spraying is used to improve or restore the surface of a solid material. It can also be used for applying coatings to a wide range of components and materials for better resistance against cavitation, wear, abrasion erosion, and heat. In addition, it is used for providing insulation or electrical conductivity, chemical resistance, lubricity, sacrificial wear, high or low friction, and several other properties to the coated surfaces. These coatings have the high-potential market opportunities on account of their properties, such as biocompatibility, cavitation resistance, and aesthetic appeal. Increasing oil and gas exploration activities, particularly in the Asia Pacific, coupled with upcoming shale gas explorations across the globe are expected to fuel the demand further. There are several regulations governing the market.

These regulatory standards define thermal-spray processes for machinery element repair of ferrous and non-ferrous substrates. Medical is expected to be the fastest-growing application segment on account of increasing application scope of thermal spray coatings in the biomedical sector. These coatings help extend the shelf life and improve the performance of dental implants and orthopedic implants. The advantages of using such coatings in the biomedical sector include superior wear and corrosion resistance and bone bond enhancement. Asia Pacific is expected to be the fastest-growing regional market on account of increasing vehicle production along with rapid economic growth in China, India, and Japan, Indonesia, South Korea, and Thailand.

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U.S. thermal spray coatings market size, by application, 2016 - 2027 (USD Billion)

Further, the recent outbreak of COVID-19 has disrupted supply chains and sharply curtailed product demand. Restriction in transportation and supply due to slowdown or halting of factories and partial or nationwide lockdowns in several countries in order to restrain the spread of the pandemic is expected to negatively impact market growth.

Thermal Spray Coatings Market Report Highlights

l Aerospace application segment led the market accounting for a revenue share of 32.3% in 2019 and is projected to maintain its dominance during the forecast period

l In the U.S., the market is anticipated to reach USD 3.8 billion by 2027 owing to the presence of key manufacturers and suppliers in the country

l The market is highly competitive in nature with the presence of a number of global medium- and small-scale companies

l Key companies engage in strategies, such as mergers and acquisitions and product development, to expand their market reach and product portfolio

Global thermal spray coatings market share, by technology, 2019 (%)

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Thermal Spray Coatings Market Segmentation

Grand View Research has segmented the global thermal spray coatings market on the basis of product, technology, application, and region:

Thermal Spray Coatings Product Outlook (Revenue, USD Million, 2016 – 2027)

Ceramics

Intermetallics

Polymers

Carbides

Abradables

Others

Thermal Spray Coatings Technology Outlook (Revenue, USD Million, 2016 – 2027)

Cold Spray

Flame Spray

Plasma Spray

HVOF

Electric Arc Spray

Others

Thermal Spray Coatings Application Outlook (Revenue, USD Million, 2016 – 2027)

Aerospace

Industrial Gas Turbine

Automotive

Medical

Printing

Oil & Gas

Steel

Pulp & Paper

Others

Thermal Spray Coatings Regional Outlook (Revenue, USD Million, 2016 – 2027)

North America

The U.S.

Canada

Mexico

Europe

Germany

The U.K.

France

Finland

Denmark

Sweden

Asia Pacific

Japan

China

India

Australia

Thailand

Malaysia

Central & South America

Brazil

Argentina

Middle East & Africa

Saudi Arabia

United Arab Emirates (UAE)

Oman 

Key Topics Covered 

Table of Content

Chapter 1 Methodology and Scope

                   1.1 Market Definition

                       1.1.1 Information Procurement

                       1.1.2 Purchased Database

                       1.1.3 GVR’s Internal Database

                       1.1.4 Secondary Sources & Third-Party Perspectives

                       1.1.5 Primary Research

                   1.2 Information Analysis

                       1.2.1 Data Analysis Models

                   1.3 Market Formulation & Data Visualization

                   1.4 Data Validation & Publishing

Chapter 2 Executive Summary

                   2.1 Market Snapshot

                   2.2 Market Segmentation

Chapter 3 Thermal spray coatings market Variables, Trends & Scope

                   3.1 Market Lineage Outlook

                       3.1.1 Global Coatings Market Outlook

                   3.2 Thermal Spray Coatings Market Dynamics

                   3.3 Penetration & Growth Prospect Mapping

                   3.4 Industry Value Chain Analysis

                       3.4.1 Raw Material Trends

                           3.4.1.1 Epoxy Resin

                           3.4.1.2 Polypropylene

                           3.4.1.3 Aluminium

                           3.4.1.4 Steel

…. continue

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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