Global Thermal Spray Coatings Market is valued approximately USD 10.48 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 6.9% over the forecast period 2019-2026. Major factors responsible for high CAGR includes rising demand from industrial gas turbines and increasing adoption of thermal spray coatings over hard chrome coatings is expected to augment growth to global thermal spray coatings market over the forecast years. Thermal sprayed coatings are being increasingly used in landing gears of aircrafts as these coatings provide exceptional wear and tear resistance in application. Production of hard chromium plating produces carcinogenic byproduct, hexavalent chromium. The industries manufacturing these hard chromium plating is regulated under certain environmental and occupational framework which is expected to become more stringent during the forecast period stimulating the market for thermal spray coatings.
The regional analysis of global thermal spray coatings market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to rising demand of Thermal Spray Coatings in end-user industries. Europe also contributes a satisfactory growth in the global thermal spray coatings market due to increasing demand of renewable energy. Asia-Pacific is also anticipated to exhibit higher growth rate / CAGR over the forecast period 2019-2026 due to growth in end-user industries including energy sector in developing countries such as India, China and Japan.
The major market player included in this report are:
- Praxair Surface Technologies, Inc.
- Surface Technology
- Oerlikon Metco
- Flame Spray Coating Company
- H.C. Starck GmbH
- Thermal Spray Technologies, Inc. (TST)
- General Magnaplate Corporation
- A&A Coatings
- ASB Industries, Inc.
- Plasma-Tec, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Metals and Alloys
By End-Use Industry:
- Energy and Power
- Agricultural Machinery
- Rest of the World
Furthermore, years considered for the study are as follows:
- Historical year – 2016, 2017
- Base year – 2018
- Forecast period – 2019 to 2026
Target Audience of the Global Thermal Spray Coatings Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers