Thermal Spray Coating Market Global Insights and Trends to 2024
Technology advancements including the introduction of HVOF process has significantly replaced conventional hard chrome plating process by delivering low processing time. Benefits including minimal environmental effects, cost-effectiveness and high performance of machinery is expected to instigate thermal spray coating market.
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Metals are anticipated to register a growth over 9.5% up to 2024. Surging demand for strong finishing metal finishing for large structures including bridges and offshore oil platforms will stimulate thermal spray coating market growth. This material is extensively used in automotive and healthcare industries to provide enhanced thermal barrier protection and anti-corrosion on finishing surfaces.
Ceramic material was valued over USD 3 billion in 2016 owing to its superior adhesive bonding; high temperature resistance and high oxidation resistance properties. Ceramic provides robust surfaces to numerous automotive components, including diesel engine pistons, valves and cylinders. Increasing adoption of this material in aerospace engine systems, turbine blades and flame tubes to deliver better heat resistance will propel thermal spray coating market.
Browse key industry insights spread across 550 pages with 452 market data tables & 21 figures & charts from this 2018 report Thermal Spray Coating Market in detail along with the table of contents:
Plasma process will witness high growth over the forecast timespan owing to its multi functionality features with metal and ceramics materials to provide aesthetic and clean surfaces. It is widely utilized in jet engines to prevent from high temperature of the combustion gases. Key properties including denser and tougher coverings makes the product more lucrative for aerospace industry.
Combustion flame process is projected to surpass 9 billion sales by 2024. Surge in machinery component repair works in industrial pumps and steel blowers has fueled demand for high surface bonding processes. Clean and uniform surfaces obtained through this high strength process on several metal machineries will positively impact thermal spray coating market penetration.
The automotive industry will observe a CAGR over 8.5% by 2024 owing to rising demand for passenger and commercial vehicles with durable coated components. Improved maintainability and reliability along with enhanced product life cycle will propel industry. Furthermore, high resistance towards scratch and decomposition on several automotive machineries will foster thermal spray coating market expansion.
Aerospace components are generally subjected to harsh environments with extremely high heat and pressure. Thereby, increasing demand for shielding engine components from corrosion and heat will propel product demand. Key aerospace components that require these covering processes include high-pressure turbine seals, oil seals, bearings, compressor seals and rotor-path linings.
North America is estimated to be worth more than USD 2.3 billion in 2016 due to increasing requirement to achieve cost optimization in aerospace & defense and power industry. Enhanced aircraft performance at competitive prices while attaining all required regulatory, manufacturing protocols is expected to positively influence thermal spray coating market share.
Global thermal spray coating market share is slightly consolidated with presence of few international players and large number of regional participants. Key industry players include Oerlikon Metco, Cincinnati, H.C. Starck, Bodycote, and Praxair Surface Technologies. Other prominent players include Metallization, Thermion, Plasma-Tec, General Magnaplate, ASB Industries.
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