Market Synopsis
The global Thermal Spray Coatings Industry is predicted to
expand at a staggering CAGR over the forecast period (2018-2023) owing to its
extensive use in the healthcare sector, asserts Market Research Future (MRFR).
Thermal spray coatings comprise a heat source which melts the coating material
into wire, powder, or rod form and sprayed onto the substrate at high velocity.
They are used to improve and enhance the characteristics of the substrates by
imparting resistance against erosion, corrosion, wear, cavitation, abrasion, or
heat.
Competitive Analysis
·
Praxair
S.T. Technology Inc
·
Surface
Technology
·
Plasma-Tec
·
Precision
Coatings Inc.
·
Air
Products & Chemicals, Inc.
·
Metallisation
Ltd.
·
A&A
Thermal Spray Coatings
·
Progressive
Surface
·
Cincinnati
Thermal Spray Inc.
·
H.C.
Starck GmbH
·
General
Magnaplate Corporation
·
BryCoat
Inc.
·
Flame
Spray Coating Company
·
Oerlikon
Metco Ag Wohlen
·
ASB
Industries Inc.
Drivers and Constraints
Impacting the Market
Thermal spray coatings offer advantages such as high
deposition rate, thick coatings, and low emission
of toxic gas over surface treatment processes like anodizing, nickel and
chrome plating, weld overlay, and nitride or heat treat processes. They are used across several end-use industries like
automotive, energy & power, agriculture, electronics, industrial,
healthcare, and aerospace. Need to improve the
durability of machine component in order to avoid high replacement cost at a
later stage is expected to foster the market growth.
On the flip side, growing concern to minimize overspray and
wastage of materials is anticipated to inhibit the market growth. Moreover, emergence of
substitutes like liquid coatings which can cover the inside corners and
hard-to-reach surfaces is likely to hamper the business growth.
Global
Thermal Spray Coatings Industry: Segmental Analysis
The Thermal
Spray Coatings Industry has been
segmented on the basis of heat
source, coating material, end-use industry, process, and region.
By mode of coating material, the market has been segmented into carbide, ceramic, cermet,
metal & alloys, polymer, and others. Among these, the metal and alloys
segment holds the major market share due to its wide acceptance in several
applications like automotive components, protecting buildings and bridges,
healthcare components, and others.
By mode of heat source, the market has been segmented into electrical energy and
combustion flame. Among these, the use of electrical energy is extensively preferred in several
applications due to its fast deposition rates, eco-friendly nature, and larger
surface area coverage.
By mode of process, the market has been segmented into electric arc spray, plasma spray, high-velocity
oxy-fuel, flame spray, old spray, and others. Among these, the electric arc
spray segment is the most commonly used process owing to its cost-effective
nature in several end-use industries.
By mode of end-users, the market has been segmented into construction, energy & power, industrial,
aerospace, electronics, agriculture, automotive, healthcare, and others. Among
these, the aerospace, automotive, and industrial collectively accounts for the major share due to its
eco-friendly nature and superior performance over other types of coatings.
Regional Insights
Asia Pacific is anticipated to hold the major market share in terms of consumption and size owing to rapid
industrialization due to the growing economies and relaxed investments.
Moreover, China, Japan, and India are the major contributors to the market
growth in this region.
North America is accounted to hold the second largest
position and is expected to show a considerable growth rate over the forecast
period. End-use industries such as
industrial, agriculture, energy & power, aerospace, and health care are predicted to contribute to the
market growth.
Europe is another major market and is anticipated to drive
the demand to some extent over the coming years. End-use industries such as
agriculture and automotive are likely to contribute to the market growth.
Industry News
A thermal spray coating manufacturer has spent nearly $10
million at its Fountain Inn plant is expanding, creating more than a dozen jobs
in the next three years in Laurens County. Fire Spray North America,
established in 2011, will spend $4 million and hire 30 new employees within the
next three years. A subsidiary of Italian firm Flame Spray S.p.A., the company
also has holdings in Croatia, Hungary, and
Italy.
Get Complete Research Report Here@ https://www.marketresearchfuture.com/reports/thermal-spray-coatings-market-6053
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