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“The thermal spray coatings market is projected to register a CAGR of 7.0% between 2020 and 2025.”
The thermal spray coatings market is estimated to be USD 7.6 billion in 2020 and is projected to reach USD 10.7 billion by 2025, at a CAGR of 7.0%. The growth in the aerospace, automotive, healthcare and other industries is driving the demand for thermal spray coatings. Low cost coating and improved shelf life of equipment or surface is expected to drive the growth of thermal spray coatings market. 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.
“Ceramic, is the fastest-growing material in thermal spray coatings market”
The ceramic material is projected to register the highest CAGR during the forecast period. The growing demand for ceramic material is due to its cost efficiency and easy availability. The growth is also driven by the growth in aerospace, healthcare, automotive and other end-use industries. Metal & alloys to be the second largest consumed material in thermal spray coatings market. The increased usage of metals & alloys is attributed towards speed of coating deposition and feedstock flexibility on the surface or component.
“North America to dominate thermal spray coatings market”
The North America is the largest consumer of thermal spray coatings market. This growth is mainly attributed to the increasing urbanization & modernization, increasing personal disposable income and growing demand from various end-use industries such as aerospace. Aerospace industry in North America is in boom due to demand backlog of big manufacturers. Technological advancement and high skilled labor creates a lucrative growth opportunity in automotive and various other industries. US to be the largest contributor to the thermal spray coatings market in the region.
“Aerospace to dominate thermal spray coatings market in the forecast period”
The Aerospace industry is the largest consumer of thermal spray coatings market. This growth is attributed towards increasing consumption of thermal spray coatings from various end-use industries such as aerospace, automotive and other. Moreover, boom in aerospace industry and demand backlog which is almost equal to 10 years. North America to be in lead in aerospace industry because of availability of big manufacturer such as Boeing.
Breakdown of primary interviews for the report on the thermal spray coatings market
• By Company Type – Tier 1 – 20%, Tier 2 –45%, and Tier 3 – 35%
• By Designation – C-Level – 25%, D-Level Executives – 20% and Others – 55%
• By Region – North America – 10%, Europe- 20%, Asia-Pacific– 50%, Latin America- 15%, and Middle East & Africa – 5%.
The leading thermal spray coatings manufacturers, globally, profiled in this report are 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 report covers the thermal spray coatings market on the basis of materials, process, end-use industry and region. This report aims at estimating the size and future growth potential of the thermal spray coatings market across various segmentation types. The report also includes an in-depth competitive analysis of the key market players along with their profiles and key growth strategies.
Key Benefits of Buying the Report
From an insight perspective, this report has been focusing on various levels of analyses, which include industry analysis (industry trends) and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the thermal spray coatings market, high-growth regions, and drivers, restraints, opportunities, and challenges in the thermal spray coatings market.
The report provides insights on the following pointers:
• Market Penetration: A comprehensive information on various materials and processes of thermal spray coatings offered by top players operating in the thermal spray coatings market.
• Product Development/Innovation: A detailed insight into upcoming thermal spray coatings, R&D activities, and new application areas in various end-use industries in the thermal spray coatings market.
• Market Development: A comprehensive information about the lucrative and emerging markets. The report analyzes the markets for thermal spray coatings across different regions.
• Market Diversification: An exhaustive information about new products, untapped geographies, recent developments, and investments in the thermal spray coatings market.
• Competitive Assessment: An in-depth assessment of strategies, products, and manufacturing capabilities of leading players in the thermal spray coatings market.