Thermal Spray Coatings Market Expects A Valuation Of US$ 15 Billion By 2032

Sales of thermal spray coatings were valued at US$ 7.1 billion in FY 2021, and it is anticipated that they would grow by 11.3% year over year in 2022 to reach US$ 7.9 billion. The market is anticipated to grow by over two times between 2022 and 2032, reaching a valuation of US$ 15 billion.

According to Fact.MR, a supplier of market research and competitive information, the global thermal spray coatings market increased at a CAGR of 6% in terms of value over the historical period of 2015-2021. Due to their enhanced anti-corrosive properties and high electrical resistance, thermal spray coatings are set to be the best replacement for conventional coating techniques.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.factmr.com/connectus/sample?flag=S&rep_id=4677?PJ

𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬 𝐨𝐟 𝐓𝐡𝐞𝐫𝐦𝐚𝐥 𝐒𝐩𝐫𝐚𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲

• Applications in water plasma, gas plasma, electric arc, and flame position ceramics will pave way for high growth in the foreseeable future.

• Plasma spray accounts for over the total market value with a healthy CAGR through 2029. Enhanced adaptability with a wide range of materials over small and large components is driving the demand for this technology.

• Flame spray technology accounts for over ¼ of the total market revenue amid technology benefits such as lower dust and fume levels and increased portability.

• Aerospace applications maintain a stronghold in the total demand for thermal spray coatings with more than 33% share. Increasing investments in upgrading airforce and defense fleets around the world are set to act as a central factor for the growth of this segment.

• Industrial gas turbines hold the second largest market share with over ¼ of the total market value with an impressive 6% CAGR during the projection period.

• North America accounts for a majority share of more than 30% of the total market revenues. This can be attributed to the demand for high-performance coatings for enhanced product performance.

• South Asia & Oceania offer financially rewarding growth opportunities on the back of a stupendous 9.6% CAGR through 2029. Investments in developing advanced aerospace & defense capacities will trickle down to an upsurge in demand for thermal spray coatings.
The segment exhibits a healthy growth trajectory through 2029. Industrial gas turbines account for the second largest market share with ¼ of the total market value.

Manufacturing trends such as higher firing temperatures and increased levels of oxidation and corrosion resistance in hard environments are favorable developments for thermal spray coatings.
Industrial gas turbine segment exhibits highest growth among various applications such as automotive, medical, steel, pulp, and paper.

𝐆𝐥𝐨𝐛𝐚𝐥 𝐓𝐡𝐞𝐫𝐦𝐚𝐥 𝐒𝐩𝐫𝐚𝐲 𝐂𝐨𝐚𝐭𝐢𝐧𝐠𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐈𝐧-𝐃𝐞𝐩𝐭𝐡 𝐀𝐬𝐬𝐞𝐬𝐬𝐦𝐞𝐧𝐭 𝐨𝐧 𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬

The global thermal spray coatings market is segmented on the basis of product, technology, application and region.

Product
• Ceramics
• Intermetallic
• Polymers
• Carbides
• Abradables
• Others

Technology
• Plasma spray
• Flame spray
• HVOF
• Electric arc spray
• Cold Spray
• Others

Application
• Aerospace
• Industrial Gas Turbine
• Automotive
• Medical
• Printing
• Oil & gas
• Steel
• Pulp & Paper
• Others

Region
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• Middle East & Africa

This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.

Country-specific assessment on demand for thermal spray coatings has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous thermal spray coatings manufacturers, experts, and suppliers.

𝐓𝐡𝐞 𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐦𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐞𝐫𝐬 𝐜𝐨𝐯𝐞𝐫𝐞𝐝:

Praxair Surface Technologies, Inc., Höganäs AB, H.C. Starck Inc., Castolin Eutectic, Wall Colmonoy Corporation, Powder Alloy Corporation, Saint-Gobain S.A., Carpenter Technology Corporation
South Asia & Oceania to Remain Key Revenue Pockets

North America and Europe collectively account for a lion's share of more than 61% of the total market value. The US, Canada, and the UK are catapulting the demand for advanced coating of equipment used in aerospace, industrial gas turbines, and oil & gas applications.

South Asia & Oceania offers high-growth opportunities on the back of stupendous 9.5% CAGR during the forecast period. Countries in the region such as Indonesia are investing in development of modern aircrafts and aerospace inventories which employ thermal spray coating. Increasing penetration of thermal spray coatings in medical, steel, pulp, and paper also stimulates the demand for the product in developing countries.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬: https://www.factmr.com/connectus/sample?flag=RC&rep_id=4677?PJ

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E Mail : sales@factmr.com

About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories.

This release was published on openPR.