The global thermal spray coatings market is estimated to be USD 7.6 billion in 2020 and is projected to reach USD 10.7 billion by 2025, at a CAGR of 7.0%. The growth of the thermal spray coatings market is attributed towards increasing consumption of thermal spray coatings from aerospace, automotive and other end-use industries. However, lack of knowledge and technical skills is restraining the growth of thermal spray coatings market. Additionally, recent outbreak of Covid-19 has resulted in shutting of manufacturing facilities across the globe which will have severe effect on the Thermal spray coatings market.
Downlaod PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=181347083
Based on end-use industry, the thermal spray coatings market has been segmented into aerospace, automotive, healthcare, agricultural machinery, energy & power, electronics and others. Among these aerospace industry is projected to have largest share in the market during the forecast period. There is a boom in aerospace industry due to demand backlog which is almost equal to 10 years. Automotive is another big industry which consumes thermal spray coatings. Moreover, increasing automotive production in many regions is expected to drive the growth of thermal spray coatings market. Healthcare industry is the major consumer of thermal spray coatings market.
In materials, ceramic material is to register highest CAGR and will be the largest contributor towards thermal spray coatings market. The growing demand for ceramic material is due to its cost efficiency and easy availability. The growth is also driven by the growth in aerospace, healthcare, automotive and other end-use industries. Metals & Alloys material is most commonly preferred after ceramics. Metal & Alloys to be the second largest material which is been consumed in thermal spray coatings market during the forecast period. The cost of materials is low in North America & European regions due to easy availability of raw materials, but in Asia Pacific and Middle East & Africa regions the cost is almost 35% higher.
North America to lead Thermal Spray Coatings market during the forecast period.
The thermal spray coatings market has been studied for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is the largest consumer of thermal spray coatings market. The global thermal spray coatings market has witnessed a significant growth. This created huge opportunities for the consumption of thermal spray coatings in North America. Urbanization, modernization, technological advancement and increase in personal disposable income of the consumers in this region is also driving the use of thermal spray coatings in various end-use industries such as aerospace, automotive, healthcare and others.
Praxair Surface Technologies, Inc (US), BodyCote (UK), Oerlikon Metco (Switzerland), Surface Technology (UK), H.C Starck Gmbh (Germany), F.W. Gartner Thermal Spraying (US), Arc Spray (Pty) Ltd (South Africa), Metallisation Limited (UK), Plasma-Tec, Inc. (US), C&M Technologies GmbH (Germany), AMETEK Inc. (US), Flame Spray SpA (Italy), BryCoat Inc. (US), Thermal Spray Technologies, Inc. (tst) (US) are the key players operating in the thermal spray coatings market.
Request For Sample Report https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=181347083
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Address:630 Dundee Road Suite 430
State: IL 60062
Country: United States