Press release
Thermal Spray Coatings Market is anticipated to expand at a CAGR of 5.9% in terms of value over the forecast period (2016–2024)
Request For Report Sample@ https://www.persistencemarketresearch.com/samples/11173
The aerospace and power generation industries are actively focusing on the development of advanced surface coating processes. The presence of hexavalent chromium and environmental issues related to it has caused various end-use industries to look for alternatives. As a result of this, thermal spray coatings have gained traction as a replacement for hard chromium plating in the aerospace industry. Revenue generated from sales of thermal spray coatings is expected to increase at a CAGR of 5.9% over the forecast period. Thermal spray coatings are used in medical implants as well. Increasing use of titanium and hydroxyapatite coatings in biomedical implants using thermal spray technology, is expected to drive the growth of the thermal spray coatings market over the forecast period. However, thermal spray coating is a line-of-sight coating process, i.e. it covers only the part which is in a line of the coating system. Moreover, robotic functions and frequent adjustments in case of complex geometries lead to high cost of thermal spray coatings, which is expected to inhibit the growth of the market over the forecast period.
By material type, ceramics segment is expected to continue to dominate the market in terms of value throughout the forecast period. This segment is also expected to witness high growth over the forecast period. Metals, alloys, and carbides are estimated to collectively account for a market value share of over 50% by the end of 2016. On the basis of process type, cold spray segment is expected to expand at double-digit CAGR in terms of value over the forecast period. This is mainly attributed to it being suitable for depositing a wide range materials on various types of substrate materials, especially those that are temperature sensitive.
On the basis of application, aerospace segment is expected to account for a market value share of 37.4%, valued at US$ 4.7 Bn by 2024 end. Industrial gas turbines segment is expected to expand at the highest CAGR in terms of value over the forecast period. Increasing energy requirements across the globe are expected to increase demand for high-performance engines and turbines. This, in turn, is projected to fuel demand for thermal spray coatings, as this process provides excellent coatings and exhibits superior resistance to wearing and corrosion. Hence, Industrial gas turbines segment is anticipated to be the fastest growing segment during the forecast period.
Sales of thermal spray coatings in North America is estimated to account for highest share by the end of 2016. Sales in Asia Pacific is expected to increase at the highest CAGR over the forecast period.
Request For Report Table of Content (TOC)@ https://www.persistencemarketresearch.com/methodology/11173
Key players in the global thermal spray coatings market include Sulzer Ltd., Oerlikon Group, Praxiar Ltd., Bodycote plc., Abakan Inc., Curtis-Wright Corporation, Metallisation Ltd., Thermal Spray Technologies Inc., and ASB Industries, Inc. The thermal spray coatings market has witnessed various merger and acquisition activities, leading to industry consolidation over the last few years. Most of these activities were undertaken by market leaders in North America and Europe markets.
ABOUT US:
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
CONTACT:
Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353
Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Thermal Spray Coatings Market is anticipated to expand at a CAGR of 5.9% in terms of value over the forecast period (2016–2024) here
News-ID: 1425318 • Views: …
More Releases from Persistence Market Research
Frozen Foods Market Heats Up with Innovation and Growing Consumer Demand
Market Overview:
The frozen foods market consists of a wide range of products, including frozen fruits and vegetables, meat and seafood, ready-to-eat meals, and desserts. These products are preserved through freezing to maintain freshness and quality for an extended period.
Market Size and Growth:
The global market for frozen foods is forecasted to be of valuation US$ 281.0 Billion in the year 2022 which is expanding at a value CAGR of 5.1% and…
The Global Graphene Market's Striking Growth and Innovative Applications
Introduction
Graphene, a single layer of carbon atoms arranged in a hexagonal lattice, has gained global recognition for its extraordinary properties, such as exceptional electrical and thermal conductivity, mechanical strength, and flexibility. Since its isolation in 2004 by Andre Geim and Konstantin Novoselov, graphene has sparked considerable interest in both scientific and industrial communities. This report explores the current state of the graphene market and its potential growth opportunities.
Get Access To…
Business Opportunities in Cyber Security Mesh Market : Top Countries Data Analys …
Market Overview:
The projected global market size for cyber security mesh is expected to reach $8.8 billion by the year 2033, with an estimated valuation of $1.2 billion by 2023. This market is poised to experience a compound annual growth rate (CAGR) of 21.7% from 2023 to 2033.
The global Cyber Security Mesh market is poised for significant growth as organizations worldwide grapple with the escalating threat landscape. Cybersecurity has become an…
Synthetic Beta-Carotene Market To Boost Incredible Growth: 2033, Share Valuation …
Key market trends included a shift towards natural and plant-based ingredients, as consumers sought cleaner labels and healthier options. This drove the demand for naturally sourced beta-carotene, but synthetic beta-carotene still had its place due to its cost-effectiveness and consistency in production. The market was also influenced by regulatory changes and evolving dietary preferences, which affected the application and formulation of synthetic beta-carotene in various products.
To obtain the latest market…
More Releases for CAGR
Cat Litter Box Market | CAGR of 9.1% | Revenue & CAGR of 9.1%
Cat Litter Box Market Report provides precise data about the market size, commercialization aspects and revenue forecast of the industry. The global Cat Litter Box market offers a historical factsheet relevant to the strategic mergers, acquirements, joint venture activities, and partnerships spread in the Cat Litter Box market. The most advanced data has been presented in the study on the revenue numbers, product details, and sales of the major firms.…
Predictive Analytics Market Growing at Strong CAGR of CAGR of 25.31% 2019
Predictive analytics helps to extract information from the existing data. It helps in understanding the pattern and predict the trend or future for the organization. It uses what-if scenarios to predict possible risks involved in the future. Predictive analytics also helps in the optimization of the marketing campaigns and understanding of the customer behaviour for increasing the end-user response and to reduce the churn.
Predictive analytics is segmented into:
Risk management:…
Global Absorption Chillers Market Reflecting a CAGR of 7.6% CAGR through 2025
The demand for thermally-driven chillers in multiple industrial verticals is poised to grow in the immediate future. Considering the rising demand for electrical chillers in commercial, residential as well as industrial settings, the adoption of absorption chillers will gain traction at considerable rate. By consuming lesser energy than conventional electrical chillers, absorption chillers will also garner surplus demand for not using ozone-depleting chlorofluorocarbons (CFC) for chilling purposes. Persistence Market Research’s…
Aircraft Sensors Market Growing at a CAGR of 6.4% CAGR By 2022
The global aircraft sensors market is forecasted to receive a strong push in its growth momentum on the back of advancements in technologies, massive investments forwarded by private equity groups, and the elevation in the demand for aircraft. Adherence to the requirements and regulations of authorities such as local aircraft regulatory bodies and the Federal Aviation Administration (FAA) could pamper the growth of the market. Nonetheless, there could be more…
China Baby Diapers Market Reflecting a CAGR of 19.1% CAGR 2012-2017
The increasing birth rate in China has proven to be a boon for the country’s baby diaper’s market. To provide a comprehensive analysis of the growth trajectory exhibited by the China baby diapers market and study the impact of the dynamic regulatory policies on the market, Transparency Market Research (TMR) has published a report, titled “Baby Diapers Market - China Industry Analysis, Market Size, Share, Growth, Trends And Forecast, 2012…
Ecg Device Market Register a CAGR Growth of 4.1% CAGR by 2024
This region holds highest market share over the forecast period (2016-2024) and is expected to exhibit slow growth rate. The Asia Pacific is expected to be the fastest-growing region for ECG devices owing to its increasing incidence rate of cardiovascular diseases and high population.
ECG devices are experiencing a paradigm technological shift from resting ECG systems to portable Holter monitoring systems, owing to their advantages of patient mobility, low prices and…
