According to a new market research report the “Thermal Spray Coatings Market by Materials (Ceramics and Metals & Alloys), Process (Combustion  Flame and Electrical), End-Use Industry (Aerospace, Automotive, Healthcare, Agriculture, Energy & Power and Electronics) and Region – Global Forecast to 2025″, is expected to grow from USD 7.6 billion in 2020 to 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.
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This report also provides a comprehensive analysis of the companies listed below:
- 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)
The COVID-19 pandemic has the potential to trigger a global economic crisis of significant dimensions, affecting all industries. One of the industry sectors in the eye of the coronavirus storm is aerospace. Global air traffic has been brought to an almost complete standstill by the COVID-19 outbreak. There is a serious impact of covid-19 on civil/ commercial aircraft manufacturing industry, the supply chain and aftermarket support businesses. However, seeing the tradition of MERS (Middle East Respiratory Syndrome), SARS (Severe Acute Respiratory Syndrome) and H1N1 (Swine influenza) which lasted not more 1-2 years, Covid-19 is also expected to remain for same time period. Additionally, vaccine trails for Covid-19 on humans are approved for the countries including Germany, US, UK and China. These factors are expected to stabilize the economy of the world in the near future. |
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| Praxair Surface Technologies, Inc (US) is one of the leading players in the thermal spray coatings market. The company has been focusing on organic & inorganic strategies to maintain its leading position in the market. Praxiar has a wide product portfolio for serving Domestic & International markets. For example, In February 2018 PG Technologies, Pte Ltd, a wholly owned subsidiary of Praxair Surface Technologies and GE Aviation, expanded its production to add additional coating capacity in Singapore to meet the aviation industry’s growing demand. The facility plans to double its electron beam physical vapor deposition (EBPVD) coating capacity as well as add other aviation-related coating processes in a new facility. Additionally, in December 2017, Praxair and GE Aviation together opens up a New Advanced Jet Engine Coatings Facility in Ellisville, Mississippi which specializes in advanced coatings that enable jet engines to withstand higher temperatures and stresses. This expansion helped both the companies in expanding its foothold towards core aviation industry.
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Oerlikon Metco (Switzerland) is the other major player in the thermal spray coatings market. The company adopted the organic & inorganic growth strategies to establish its foothold, globally. For example, In June 2019, Oerlikon signed an agreement to acquire AMT AG in Kleindöttingen, Switzerland. The acquisition is in line with Oerlikon’s strategy to focus and expand its surface solution technologies while increasing market applications and service accessibility to customers. AMT extends the product and service offerings for thermal spray applications and turnkey solutions for Oerlikon Metco. In April 2019, Oerlikon acquired TeroLab Surface GmbH in Langenfeld, Germany. The acquisition expands Oerlikon Metco’s coatings services by increasing market applications and service accessibility to customers. Oerlikon also announced that TeroLab Surface GmbH in Langenfeld, Germany, will be transferred from the TeroLab Surface Group to Oerlikon. It will operate as Oerlikon Metco Coating Services GmbH and as part of the business unit Oerlikon Metco Aero & Energy.
The ceramics material is projected to have the highest share during the forecast period.
Based on materials, the thermal spray coatings market has been segmented into ceramics, metals & alloys, and others (carbides, composites and polymers). Ceramics material is projected to have largest share in the thermal spray coatings market during the forecast period. The growing demand for ceramics is attributed towards its properties such as thermal resistance, corrosion resistance and other. Moreover, the cost efficiency of ceramics is contributing to the growth of this material.
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Aerospace industry is projected to register the highest CAGR, in terms of value, in the thermal spray coatings market during the forecast period.
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.
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.
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