Press release
Thermal Spray Coatings Market Prospects for Long-Term Value & Growth 2024 - 2031 | Praxair Surface Technologies , H.C. Starck
Thermal Spray Coatings Market
The thermal spray coatings market is estimated to be valued at USD 11.11 Bn in 2024 and is expected to reach USD 17.49 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
Market Dynamics:
Thermal spray coatings market is driven by increasing demand from the aerospace industry. Thermal spray coatings offer protection to aircraft engine parts that operate under high temperatures and pressures. These coatings help increase the lifespan of aircraft components. Secondly, growth of the oil & gas industry is also expected to aid market expansion during the forecast period. Risers, pipes, valves and others require corrosion and wear protection for offshore and subsea oil extraction. Prolonged usage under harsh conditions increases the demand for thermal spray coatings in this sector.
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Rising demand from aerospace and aviation industries is driving the thermal spray coatings market
The increasing demand for lightweight and fuel-efficient aircraft by the aviation industry has promoted the usage of thermal spray coatings. Thermal spray coatings are widely utilized in jet engines, gas turbines, and aircraft components like landing gear and brakes to offer corrosion and wear resistance. Thermal spray coatings provide protection against high operating temperatures, oxidation, and corrosion, thus extending the lifespan of critical aircraft parts. The continuous growth in commercial aviation along with rising military aircraft procurement is augmenting the consumption of thermal spray coatings in the aerospace sector.
Adoption of advanced material technologies offers opportunities for market growth
Research into novel coating materials is expanding the scope of thermal spray coatings. Advanced cermet, ceramic, and nanocoating technologies enable improved corrosion and wear resistance even in harsh operating conditions. The development of ceramic and metallic composite coatings suitable for high-temperature applications upwards of 1200°C augments the usage of thermal spray solutions. Advanced materials like AlZn, WC-Co, and nanostructured coatings exhibit superior mechanical properties, reducing wear and extending component lifetime. Ongoing R&D towards biomimetic, self-healing, and multifunctional smart coatings is likely to open up new application areas for thermal spray coatings.
Towards sustainable coating solutions drives the evolution of the thermal spray coatings market
Growing socio-environmental awareness is driving the transformation towards more sustainable industrial practices. Thermal spray equipment manufacturers are focusing on the development of eco-friendly coating solutions. Water-borne coatings that lower VOC (volatile organic compound) emissions during spraying are gaining prominence. Advanced process control enables precise layer deposition, reducing raw material wastage. The adoption of renewable energy sources like solar to power thermal spray systems also helps reduce the carbon footprint. Automation and digitization and the use of IIoT (Industrial Internet of Things) enable remote monitoring and process optimization. All these evolving trends are supporting the transition towards more sustainable thermal spray coating technologies.
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Top Companies Featured in This Report:
★ Praxair Surface Technologies
★ H.C. Starck
★ Bodycote PLC
★ Oerlikon Metco
★ Surface Technology International Ltd
★ ASB Industries Inc.
★ A&A Coatings
★ Flame Spray Technologies
★ Metallisation Ltd
★ TWI Ltd
★ Metallizing Equipment Co. Pvt. Ltd.
★ Plasma-Tec Inc.
★ Integrated Global Services
★ Progressive Surface
★ FST Coatings Inc.
★ Thermion Inc.
★ Oerlikon Balzers
★ Tafa Incorporated
★ Metallizing Equipment Co. Pvt. Ltd.
★ TST Coatings
★ Inc
Market Segmentation:
By Product Type:
★ By Material: Metals, Alloys, Carbides, Ceramics, Intermetallic, and Others
★ By Process: Conventional Flame Spray, Plasma Spray, Retail Stores, HVOF (High Velocity Oxy-fuel), Cold Spray, and Others
By Applications:
★ By Application: Aerospace, Industrial Gas Turbines, Automotive, Medical, and Others
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Insights from the Global Thermal Spray Coatings Market Analysis:
Market Size Evaluation: Assessing the value and sales volume of the Thermal Spray Coatings market spanning from 2024 to 2031.
Market Trends and Dynamics: Analyzing the drivers, opportunities, challenges, and risks influencing the Thermal Spray Coatings market.
Macro-economic and Regional Impacts: Exploring how global inflation and geopolitical events affect the Thermal Spray Coatings market.
Segment Analysis: Examining the market value and sales volume of Thermal Spray Coatings by type and application from 2024 to 2031.
Regional Market Overview: Assessing the current situations and future prospects of the Thermal Spray Coatings market in different regions.
Country-level Studies: Providing insights into revenue and sales volume for major countries within each region.
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Thermal Spray Coatings sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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