Thermal Spray Market 2018 Industry Professional Survey by Key Players | A & A Thermal Spray Coatings , Surface Technology, H.C. Starck GmbH,Praxair Surface Technologies

Global Thermal Spray Market Research Report: Product (Metals, Ceramics, Intermetallics, Polymers, Carbides), Technology (Cold Spray, Flame Spray, Plasma, Spray) Application (Automotive, Oil & Gas, Mining, Aerospace, Medical) – Forecast Till 2023

Global Key Players Analysis:

A & A Thermal Spray Coatings (U.S.)

Flame Spray Coating Company (U.S.)

General Magnaplate Corporation (U.S.)

Praxair Surface Technologies, Inc. (U.S.)

Oerlikon Metco (Switzerland)

Plasma-Tec, Inc. (U.S.)

Surface Technology inc (U.K.)

H.C. Starck GmbH (Germany)

ASB Industries, Inc. (U.S.)

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Industry/ Innovation/ Related News:

29th January, 2018- National Aeronautics and Space Administration (NASA) has expressed its interest in a new Indian produced thermal spray coating technology which is especially designed for gas turbine engine in space craft. The new coating technology is expected to reduce thermal spray cost to around 50%. The adoption of this technology by NASA is anticipated to further surge the market growth in the Asia Pacific region.

9th October 2015- Thermal Spray Technologies Inc. has made a capacity addition in its existing facility at Sun Prairie. The company has made an investment of US$ 11.5 million and is projected to generate at least 200 new job prospects. This expansion is stated to substantially increase their production capacity thereby adding to their market hold.

Thermal spray Market Overview:
Thermal spraying is an industrial process helps in formation of substrates in molten and semi molten state. Thermal spray are extensively used as decorative and protective coatings in many substrates including ceramics, polymers, metals, carbides and others.

These sprays possesses various properties such as enhanced shelf life and engineering performances which makes them ideal for many end use industries including automobile, aerospace, steel, medical & printing, and oil & gas among others. The growing applications in the aforementioned industries is the major factor driving the global thermal spray market. However, growing adoption of substitutes is anticipated to be a major driving the thermal spray market.

The global market of thermal spray is segmented on the basis of product type, technology, application and region. On the basis of product type, ceramics is anticipated to be the leading segment in 2016 and is expected to show the same trend during the assessed years. The growing demand for ceramic coatings from the defense, oil & gas and healthcare industries is are the key factor attributing to the growth of the segment.

Moreover, the metal product segment is anticipated to be the second largest segment with a market share of over 20 % in 2016. Among the various technologies, plasma spray is the fastest growing segment and is anticipated to exhibit an expanding CAGR of over 5% in the given period. The Aerospace application sector is expected to account for a market share of 30% in 2016 and is expected to follow the same trend during the assessed years.

Regional Analysis:
The thermal spray market is segmented into five regions: Latin America, the Middle East & Africa, Asia Pacific, North America, and Europe. Among these, Asia is expected to be the fastest growing region with an encouraging CAGR. Growing population and the increasing per capita disposable income in the developing nations are primarily driving the growth of the thermal spray market.

Moreover, the propelling aerospace and the automobile industry in countries such as India and China, is increasing the demand for thermal spray. Moreover, the growing demand from the oil and gas industry mainly in China, India is another factor positively affecting the market growth. The growing population has augmented the need for energy in the region which has resulted in a surge in oil and gas activities, thereby increasing the demand for a thermal spray for the use in bearings, pump shafts, hydraulic plungers and other applications. North America is the largest market and is expected to retain its dominance during the forecast years.

The developed industries such as aerospace, automobile, and pharmaceuticals among other are positively affecting the market growth. The European region is a lucrative market and is mainly driven by a well-developed automobile and aerospace industry. Moreover, the growing oil and gas related activities mainly in Russia is expected to surge the market growth, Europe is expected to show a CAGR of over 5.5% during the forecast years.

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Thermal spray Market- Competitive Landscape:
The global Thermal spray Market is a highly lucrative market and is anticipated to show an expanding CAGR during the forecast period. A & A Thermal Spray Coatings (U.S.), Flame Spray Coating Company (U.S.), General Magnaplate Corporation (U.S.), Praxair Surface Technologies, Inc. (U.S.), Oerlikon Metco (Switzerland) among others are some of the major players operating in this market.

Most of these market participants are adopting the expansion, product launch, and merger and acquisition tactics to strengthen their production capacities and market position. Taking account of these trends the global thermal spray market is projected to witness considerable competition over the forecast period of 2017-2023.

Intended Audience:
Thermal spray market manufacturers
Traders and Distributors of thermal spray market
Production process industries
Potential investors
Raw material suppliers
Nationalized laboratory

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This release was published on openPR.