Allied Market Research recently published a report,
titled, "Thermal Spray Coating Market by Material (Ceramics, Metal
& Alloys and Other), Process (Flame Spraying, Arc Spraying, Plasma
Spraying, HVOF, and Others) and End-Use Industry (Automotive, Aerospace,
Industrial and Others): Opportunity Analysis and Industry Forecast,
2019–2026". According to the report, the global thermal spray coating
industry accounted for $7.96 billion in
2019 and is estimated to hit $13.5 billion by
2026, growing at a CAGR of 7.8% from 2019 to 2026.
Incentives for market growth:
Rise in demand for automobiles, increase in
aerospace application, and surge in usage in medical devices have boosted the
growth of the global thermal spray coatings market. However, issues regarding
thermal spray process reliability and consistency and high energy costs for
manufacturing technical ceramics hamper the market. On the contrary,
advancements in filler plasma spray coating practices are expected to create
lucrative opportunities in the near future.
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Metal & alloys segment to manifest the highest
CAGR by 2026:
The metal & alloys segment is expected to
manifest the fastest CAGR of 8.4% during the forecast period, owing to rise
demand for sprayed metals or alloys in processing industries such as the
petrochemical and chemical industry. However, the ceramics segment held the largest
share in 2019, accounting for nearly half of the global thermal spray coatings
market. This is attributed to its beneficial characteristics such as
cost-effectiveness, corrosion, thermal resistance, wear resistance, and others.
Flame spraying segment held the lion's share:
The flame spraying segment dominated the market in
2019, contributing nearly three-fifths of the global thermal spray coatings
market, owing to its cost-effectiveness and increase in use for corrosion
protection and improve performance of surface. However, the plasma spraying
segment is projected to portray the highest CAGR of 10.4% during the study
period, due to rise in use of plasma spraying for metal coatings in several
industries.
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Asia-Pacific dominated
the market, followed by Europe and North America:
The global thermal spray coatings market across
the Asia-Pacific region held the
largest share in 2019, contributing to nearly half of the market and is
expected to register the highest CAGR of
8.3% during the forecast period. This is due to demand in the automotive
industry, growth in disposable income of consumers in the region, and increase
in usage in the healthcare industry. On the other hand, the market across North America held nearly one-fifth of the total
share in terms of revenue.
Major market players:
- 3M
- APS Materials, Inc.
- A&A Thermal Spray Coatings,
Inc.
- Dupont De Nemours, Inc.
- CoorsTek, Inc.
- KCC Corporation (KCC)
- Integrated Global Services, Inc.
- Morgan Advanced Materials plc
- Linde Plc
- Saint-Gobain
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