The
global thermal spray coatings market size is expected to
reach USD 14.99 billion by 2025, according to a new report by Grand View
Research, Inc. Increasing application scope, owing to advantages such as wear
and corrosion protection, low toxic gas emissions, thickness capability and
electrical resistance is expected to fuel thermal spray coating market growth.
Key applications include aerospace precision parts, automotive, medical
instruments and industrial gas turbines. Use of these coating for biomedical
and medical instruments to improve wear resistance and boost biocompatibility
of prosthetics and dental implants is expected to augment growth.
Rising
application scope of gas turbines in ships, locomotives, tanks, helicopters and
motorcycles is expected to augment thermal spray coating market over the
forecast period. Polymer and metal thermal spray coatings are employed in
powdered form for industrial gas turbines blades on account of properties such
as high temperature corrosion resistance.
In
terms of revenue, ceramics was the largest application segment for the product
market, accounting for 30.1% of the global market in 2016. Ceramics are
primarily employed in biomedical industry. HVOF technology is used to spray
these products on to substrates which are further used in the medical sector
for the manufacturing of dental implants. Expansion of this sector is expected
to have a positive impact on growth over the next seven years.
The
global product market is expected to witness substantial growth over the
forecast period owing to its widespread use in aerospace and automotive
industries. Growing demand for corrosion resistant coatings particularly in
these two sectors is expected to be a key driver for market growth. Increasing
application scope in engineering coating, wear resistant coating, automotive
& aerospace, biomedical, food processing, electronics, semiconductors and
energy are further expected to promote demand.
Browse full
research report on Thermal Spray Coating Market: www.grandviewresearch.com/industry-analysis/thermal-spray-coatings-market
Further
Key Findings From the Study Suggest:
- The global thermal spray coatings market was
valued at USD 8.38 billion in 2016 and is expected to grow on account of
the increasing demand from the automotive sector.
- Medical application segment will experience the
fastest growth in terms of revenue, growing at a CAGR of 7.8% from 2017 to
2025 on account of the growing demand for better health care facilities
coupled with rising number of hospitals
- Ceramics emerged as the largest product segment
in terms of revenue in 2016 and is estimated to reach USD 4.6 billion by
2025 and is anticipated to experience a steady growth over the years
ahead.
- The industry in Asia Pacific is projected to
witness substantial growth over the next eight years owing to robust
growth in the medical, oil & gas and automotive industry, especially
in the countries of India and China. In terms of revenue, the regional
market is expected to grow at a CAGR of 7.9% from 2017 to 2025.
- Key players including Praxair Surface
Technologies, Air Products & Chemicals, Cincinnati Thermal Spray,
Inc., and TWI Ltd., dominated the global product market.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
Grand View Research has segmented the global thermal spray coatings
market report on the basis of, product, application, technology and region:
- Thermal Spray Coatings Product
Outlook (Revenue, USD Million, 2014 - 2025)
- Metals
- Ceramics
- Intermetallics
- Polymers
- Carbides
- Abradables
- Others
- Thermal Spray Coatings Application
Outlook (Revenue, USD Million, 2014 - 2025)
- Aerospace
- Industrial
Gas Turbine
- Automotive
- Medical
- Printing
- Oil
& gas
- Steel
- Pulp
& Paper
- Others
- Thermal Spray Coatings Technology
Outlook (Revenue, USD Million, 2014 - 2025)
- Coldspray
- Flamespray
- Plasma
spray
- HVOF
- Electric
arc spray
- Others
- Thermal Spray Coatings Regional
Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Europe
- UK
- Germany
- Asia
Pacific
- China
- India
- Japan
- Central
& South America
- Brazil
- Middle
East & Africa
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-thermal-spray-coating-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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