Thermal Spray Coating Markets, Technology & Innovation trends By 2024
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Growing environmental concerns regarding use of hexavalent chromium in chrome plating process have witnessed search for alternative application techniques, resulting in increasing adaptation of the process for turbines and aerospace applications. Resistance against high temperatures coupled with ability to enhance surface properties of materials and with better stability required in aerospace are the factors influencing thermal spray coating market growth.
Rising demand for increased instrument life from industries such as dental and health care are the factors for industry growth. The product increases the wear resistant property increasing product life thus minimizing maintenance requirement. These properties are among the key factor for increasing thermal spray coating market growth.
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Increasing product application from automobile and plating industries owing to environmental benefits over the other counterparts such as chrome plating, are the factors driving the thermal spray coating market. Usage on wide range of microstructures, flexibility of feedstock and speed of application on substrate are among the key properties for increasing industry demand. In addition to this, stringent regulation regarding minimizing use of chrome in automobile industry is among the factor for increasing product penetration.
Industrial gas turbines segment followed the aerospace industry with applications in ships, locomotives and power generation plants with large requirement of corrosion resistance material owing to exposure to high temperature differences in gas turbines and presence of moisture making the environment corrosive and damaging the product. Thus, to sustain such high temperature and corrosive environment for essential components, the product plays an important role propelling the industry growth.
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Global thermal spray coating market is dominated by large firms obtaining raw materials at below market price and are able to capture market size by offering product at below competitors pricing. The industry is price sensitive and profits are achieved by obtaining economies of scale. In addition to this, continuous technological advancement is required along with automation for fast processing and bulk production.
Some of the key thermal spray coating market players include TST Engineered Coating Solutions, Air Products & Chemicals, Praxair Surface Technologies, Surface Technologies, Plasma-Tec, H.C. Starck, General Magnaplate Corporation, Flame Spray, Oerlikon Metco, ASB Industries.
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