The surge in manufacturing of paints, automotive, aerospace, medical, and packaging is set to boost the demand for thermal spray coatings. Features such as anti-corrosion coupled with enhanced coating consistency are working in favor of thermal spray coatings. The global thermal spray coatings market will grow at an impressive 6.5% CAGR during the forecast period (2019-2029). Increasing penetration of coating applications in niche end-use industries such as gas turbines, locomotives, and modern helicopters will continue to bolster demand for thermal spray coatings. Rampant space exploration by companies such as SpaceX is encouraging the application of thermal spray carbide coating in advanced landing gears.
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Key Takeaways of Thermal Spray Market Study
- Applications in water plasma, gas plasma, electric arc, and flame position ceramics will pave way for high growth in the foreseeable future.
- Plasma spray accounts for over the total market value with a healthy CAGR through 2029. Enhanced adaptability with a wide range of materials over small and large components is driving the demand for this technology.
- Flame spray technology accounts for over ¼ of the total market revenue amid technology benefits such as lower dust and fume levels and increased portability.
- Aerospace applications maintain a stronghold in the total demand for thermal spray coatings with more than 33% share. Increasing investments in upgrading airforce and defense fleets around the world are set to act as a central factor for the growth of this segment.
- Industrial gas turbines hold the second largest market share with over ¼ of the total market value with an impressive 6% CAGR during the projection period.
- North America accounts for a majority share of more than 30% of the total market revenues. This can be attributed to the demand for high-performance coatings for enhanced product performance.
- South Asia & Oceania offer financially rewarding growth opportunities on the back of a stupendous 9.6% CAGR through 2029. Investments in developing advanced aerospace & defense capacities will trickle down to an upsurge in demand for thermal spray coatings.
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Global Thermal Spray Coatings Market: In-Depth Assessment on Key Segments
The global thermal spray coatings market is segmented on the basis of product, technology, application and region.
- Plasma spray
- Flame spray
- Electric arc spray
- Cold Spray
- Industrial Gas Turbine
- Oil & gas
- Pulp & Paper
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Report Benefits & Key Questions Answered
- Thermal Spray Coatings Market Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Thermal Spray Coatings Market Historical volume analysis: The report provides a comparison of Thermal Spray Coatings Market historical sales and projected sales performance for 2021-2031.
- Thermal Spray Coatings Market Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Thermal Spray Coatings Market It carefully gauges the impact of changing healthcare needs of key demographics globally
- Thermal Spray Coatings Market Consumption by demographics: The report investigates consumer behavior affecting Thermal Spray Coatings Market demand outlook for the assessment period. Effect of their keenness for digital trends on Thermal Spray Coatings Marketis carefully analyzed
- Post COVID consumer spending on Thermal Spray Coatings Market Consumption: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Thermal Spray Coatings Market growth.
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