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Thermal Spray Materials Market Share, Growth, Region Wise Analysis of Top Players Including OMNOVA Solutions, DyStar, The Dow Chemical Company & Kiri Industries Ltd, Forecast to 2023
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The key trend observed in the study includes the extensive use of thermal spray coating materials in the aerospace industry. Thermal spray technology is being adopted by The Boeing Co. since 1968. The company continued to develop thermal spray technology by collaborating with the Hard Chromium Alternative Team activities in the 1900s.
The global thermal spray materials market has a lot of potential for growth in it. The major players in the thermal spray market are adopting significant competitive strategies such as merger, acquisitions and joint ventures to hold a competitive edge in the global market.
Additionally, for strong and durable anchoring of orthopaedic implants, such as artificial hip joints, surface finish is of great importance. All these factors are responsible for the exponential growth of the market during the forecast period.
Thermal spray materials are the fundamental part of the thermal spray coating. The coating materials have been segmented into powders, rods/wires and others (liquid) along with the former being segmented into metal-based (pure metals and alloys, precious metals, and MCrAlY), ceramic-based, polymers and others.
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For instance, in November 2015, Oerlikon acquired the advanced ceramics (includes about 7% of thermal spray market in it) business unit of Laser Cladding Services, LLC. Some of the key players in the global market include OMNOVA Solutions Inc., The DyStar Group, The Dow Chemical Company and Kiri Industries Limited.
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