Rise in demand for automobiles, increase in aerospace application, and surge in usage of medical devices drive the growth of the global Thermal Spray Coating Industry. However, issues regarding thermal spray process reliability and consistency and high energy costs for manufacturing technical ceramics hinder the market growth. On the other hand, advancement in filler plasma spray coating practices present new opportunities in the coming years.
According to the report published by Allied Market Research, the global thermal spray coating industry generated $8.0 billion in 2019, and is projected to reach $12.7 billion by 2027, witnessing a CAGR of 5.9% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, key investment pockets, competitive scenario, value chain, and regional scenario.
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- The covid-19 outbreak negatively impacted the thermal spray coatings industry. The prolonged lockdowns have impacted the manufacturing activities and led to supply chain disruptions.
- The demand from the end-using industries including construction, automotive, and industrial sectors has declined as well. In addition, reduced labor, due to social distancing norms, amid the COVID-19 pandemic has further impacted the market.
- Nevertheless, the regulations are getting eased off and the industries are getting revitalized. With this, the Thermal Spray Coating Industry is expected to recoup soon.
The report offers detailed segmentation of the global Thermal Spray Coating Industry based on material, process, end-use industry and region.
Based on material, the metal & alloys and ceramics segment held the largest share in 2019, accounting for nearly half of the global thermal spray coatings market. Furthermore, the metal & alloys segment is also expected to witness the highest CAGR of 6.3% throughout the forecast period.
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Based on process, the flame spraying segment dominated the market in 2019, contributing nearly three-fifths of the global thermal spray coatings market. The segment is expected to lead the trail throughout the forecast period. On the other hand, the plasma spraying segment is projected to portray the highest CAGR of 11.2% during the study period.
The global thermal spray coatings market is studied across Asia-Pacific, Europe, ALMEA, and North America. The Asia-Pacific region held the largest share in 2019, contributing to more than half of the market. Moreover, the region is also expected to register the highest CAGR of 6.3% during the forecast period.
Leading players of the global Thermal Spray Coating Industry analyzed in the report include M, A&A Thermal Spray Coatings, Inc., APS Materials, Inc., CoorsTek, Inc., Dupont De Nemours, Inc., Integrated Global Services, Inc., KCC Corporation (KCC), Linde Plc and Morgan Advanced Materials plc.