Thermal spray coating is a technology applied to improve or restore the surface of a solid material. The process can be used to apply coatings to a wide variety of materials and components for erosion, cavitation, wear, corrosion, heat, and abrasion resistance. Insulation or electrical conductivity, high or low friction, lubricity, chemical resistance, sacrificial wear, and many other desirable surface properties are also used for thermal spraying. In many industries, thermal spray coating is widely used as the preferred method for extending the life of new components.
The report also includes the prevailing trends impacting the global thermal spray coatings market size. Furthermore, the report provides an overview of the thermal spray coating equipment market. The market size is projected to be worth USD 15.01 billion by 2025. This can be attributed to its increasing usage in aerospace and automotive industries. Expansion of these industries is projected to offer favorable growth opportunities for the industry over the next few years.
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Growth in the demand for product from industrial gas turbines industry related to the increasing preference on the hard chrome coatings is projected to increase the market growth during the forecast period. Inventions in technology for the expansion of affordable products are anticipated to have the optimistic impact on the growth of thermal spray coatings market. Moreover, rising product application due to the benefits like low toxic gas emissions, corrosion and wear protection, electrical resistance and thickness capability is anticipated to boost the demand for global thermal spray coatings market.
Key Players: Praxair Surface Technologies, TWI Ltd., TST Engineered Coating Solutions, Metallisation Ltd., Air Products & Chemicals, Flame Spray Coating Co., Oerlikon Metco, A&A Coatings, Curtis-Wright Corporation, Plasma-Tec, Inc. and White Engineering Surfaces Corporation among others.
The rising application of gas turbines in helicopters, ships, tanks, locomotives, and motorcycles is due to the properties of thermal spray coatings such as protection of gas turbine components against friction, wear, and corrosion. Growing energy needs across the globe are expected to boost the demand for high-performance engines and turbines, thereby, leading to the growth of thermal spray coatings market. Most modern gas turbines use thermal spray coating technology to keep these components performance.
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North America is anticipated to hold a market share of more than 27% at the end of the forecast period. The growing aerospace and automotive manufacturing sector are expected to fuel the demand for thermal spray coatings in the region. This growth is projected to augment the demand for thermal spray coatings in the country. Furthermore, the stringent environmental regulations in the region have escalated the demand for environmentally friendly products, thereby, leading to the overall thermal spray coating equipment market growth.
Asia Pacific accounts for over 22% of incomes in thermal spray coatings market globally and anticipated to develop at CAGR in the coming years. Growing need for the thermal spray coatings from automotive and aerospace industries is projected to show the promising growth opportunities in the region. Occurrence of important manufacturers in the region is the important factor fueling the automobile industry.
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