Thermal Spray are used in a wide range of application sector owing to the growing need for efficient and durable coatings in wide range of industries. It is extensively used in the aerospace, automobile and pharmaceutical industries. Durability, corrosive strength, and enhanced thermal resistance are some of the properties which makes then an efficient substitute in comparison with other industrial coatings .The rising growth of the oil & gas and aerospace industry across the globe is substantially affecting the growth of the Thermal Spray Market.
The Global Thermal Spray Market is being driven by a range of application in the various end-use industries such as transportation, printing, pharmaceuticals, and oil & gas among others. Moreover, it is estimated that the aerospace industry is set to witness the highest growth due to the growing consumption in applications such as turbine blades, liners and others.
The Global Thermal Spray Market is segmented into product, application, and technology. On the basis of the product type, the market is segregated into metals, ceramics, intermetallic, polymers, carbides, abradable and others. The market by technology is further categorized into cold spray, flame spray, plasma spray, HVOF, electric arc spray, and others. On the basis of application, the market is segregated into aerospace, industrial gas turbine, automotive, medical, printing, oil & gas, steel, pulp & paper and others.
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The ceramic followed by metal product segment are anticipated to observe the highest CAGR during the forecast period. Ceramics are anticipated to show a CAGR of over 6 % on account of the growing need for high performance ceramic coatings in wide range of application sectors such as environment protection, energy, optic communications, aerospace & defense and others. Metals is forecasted to account for a market share of over 20% during the accessed years.
Some of the prominent players operating in the Global Thermal Spray Market are A & A Thermal Spray Coatings (U.S.), Flame Spray Coating Company (U.S.), General Magnaplate Corporation (U.S.), Praxair Surface Technologies, Inc. (U.S.), Oerlikon Metco (Switzerland), Plasma-Tec, Inc. (U.S.), Surface Technology inc (U.K.), H.C. Starck GmbH (Germany), and ASB Industries, Inc. (U.S.), among others.
The Global Thermal Spray Market is spanned across five key regions: North America, Latin America, Asia Pacific Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific is the fastest growing market in 2016 and is expected to display an encouraging CAGR during the forecast years. The growing industrialization has resulted in the development of the industrial sector in turn, is fuelling the demand for Thermal Spray In the region. Moreover, the growing oil and gas industry, mainly in India and China is also expected to contribute to the market growth.
The European region is estimated to witness a significant growth in the countries owing to the burgeoning aerospace and automobile industry. The increasing use of thermal in engines, transmissions, suspensions, steering wheels, and landing gear among others is augmented the demand. The North American Thermal Spray Market is mainly driven by the Canada and U.S. The presence of the developed end-user industries such as automotive and aerospace coupled with the increasing adoption rate is contributing significantly to the growth of the market. Moreover, the growing investment in the oil and gas sector is further expected to add fuel to the growth of the market.
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