Thermal Spray Coating Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024

Report ID: GMI1347

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Thermal Spray Coating Market size will witness strong growth owing to rising demand from various applications such as aerospace and automobile industries. Properties such as corrosion protection, wear protection and achieving precision thickness are the factors fueling the thermal spray coating market demand.

Growing environmental concerns regarding use of hexavalent chromium in chrome plating process have witnessed search for alternative application techniques, resulting in increasing adaptation of the process for turbines and aerospace applications. Resistance against high temperatures coupled with ability to enhance surface properties of materials and with better stability required in aerospace are the factors influencing thermal spray coating market growth.

Rising demand for increased instrument life from industries such as dental and health care are the factors for industry growth. The product increases the wear resistant property increasing product life thus minimizing maintenance requirement. These properties are among the key factor for increasing thermal spray coating market growth.

Ceramics segment dominate the overall market share with revenue exceeding 2.3 billion by 2015. Thermal spray coating market is further segmented as metal, intermetallic and polymers. Rising demand of heat resistant surface, improved dielectric strength and corrosion protections ceramics are the factors which will augment thermal spray coating market growth.

Increasing product application from automobile and plating industries owing to environmental benefits over the other counterparts such as chrome plating, are the factors driving the thermal spray coating market. Usage on wide range of microstructures, flexibility of feedstock and speed of application on substrate are among the key properties for increasing industry demand. In addition to this, stringent regulation regarding minimizing use of chrome in automobile industry is among the factor for increasing product penetration.

Industrial gas turbines segment followed the aerospace industry with applications in ships, locomotives and power generation plants with large requirement of corrosion resistance material owing to exposure to high temperature differences in gas turbines and presence of moisture making the environment corrosive and damaging the product. Thus, to sustain such high temperature and corrosive environment for essential components, the product plays an important role propelling the industry growth.

Aerospace industry is the leading segment of thermal spray coating market. Requirement of wear and heat resistant plating on the aero parts are the properties fueling the market growth. Rising aerospace industry in Asia pacific region owing to favorable manufacturing policies are the factors fueling the market demand.

China dominates the world in automobile production. Increasing use of thermal spray coating instead of chromium plating is among the key factor fueling the market. Better product lifespan owing to better corrosion resistance and less wear are the factors improving product penetration in the automobile segment. In this segment product is applied on steering, engine transmission, suspension components and various other automobile parts to increase surface protection and enhancing friction properties.

Increasing oil and gas production in Middle East and Africa is among the key factor driving the regional demand. The product is extensively used in high strength low alloy steels for manufacturing high pressure tanks used for storing high pressure liquid petroleum gas providing prevention against cracking coupled with extended operating life.

Increasing R&D activities to increase the applications such as electronic products, energy, biomedical, semiconductor and engineering are among the key applications for thermal spray coating. In addition to this, low toxic emissions coupled with increasing technological advancement are the factors fueling the thermal spray coating market growth.

Difficulty in application over smaller surface areas and smaller diameters on surface may act as challenge for overall market growth. In addition to this, the process is comparatively expensive thus require heavy initial investments.

Global thermal spray coating market is dominated by large firms obtaining raw materials at below market price and are able to capture market size by offering product at below competitors pricing. The industry is price sensitive and profits are achieved by obtaining economies of scale. In addition to this, continuous technological advancement is required along with automation for fast processing and bulk production. 

Some of the key thermal spray coating market players include TST Engineered Coating Solutions, Air Products & Chemicals, Praxair Surface Technologies, Surface Technologies, Plasma-Tec, H.C. Starck, General Magnaplate Corporation, Flame Spray, Oerlikon Metco, ASB Industries.

What Information does this report contain?

What was the historic market data from 2013 to 2016, what is the industry growth forecast from 2017 to 2024?
A detailed analysis of regulatory trends, growth drivers, industry pitfalls, challenges and opportunities for participants
Which are the leading market products, applications & regions and how will they perform by 2024?
What are the technology & innovation trends, how will they evolve by 2024?
Which companies lead the industry, how are they positioned in the market in terms of sustainability, competency, production capacity and strategic outlook?

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