Thermal Spray Market Research Report Product (Metals, Ceramics, Intermetallics, Polymers, Carbides), Technology (Cold Spray, Flame Spray, Plasma, Spray) Application (Automotive, Oil & Gas, Mining, Aerospace, Medical) – Forecast Till 2023
Thermal Spray Market to Grow Exponentially at a CAGR of More Than 5% Between 2017 to 2023
- General Magnaplate Corporation
- A & A Thermal Spray Coatings
- ASB Industries, Inc.
- Flame Spray Coating Company
- Plasma-Tec, Inc.
- Praxair Surface Technologies
- Oerlikon Metco
- Surface Technology Inc
- and H.C. Starck GmbH
Thermal Spray Market Overview
Thermal spraying is the industrial process of providing a thick coating for decorative and protective purposes using substrates such as metal, ceramic, polymer, intermetallic, carbides, and others. The thermal coating enhances the longevity and performance of the component, and the low cost of coating makes them lucrative for market players in comparison to other coatings.
The thermal coating has functions in several end-user industries such as automotive, aerospace, oil & gas, steel, medical nd printing, among others. These multi-functional properties have raised the demand for thermal sprays globally and according to Market Research Future (MRFR), the global thermal spray market is estimated to rise at a CAGR of more than 5% over the forecast period of 2017 to 2023.
Thermal Spray Segments
The global thermal spray market is segmented based on product, application, and technology. Based on product type, the market is segmented into metals, ceramics, intermetallic, polymers, carbides, abradable and others. The ceramic segment is estimated to grow at a comparatively higher CAGR, owing to the high demand for effective ceramic coating in industries such as defense, healthcare, aerospace and oil & gas, among others, and is estimated to contribute significantly to the growth of thermal spray market.
By technology, the market has been segmented into cold spray, flame spray, plasma spray, HVOF, electric arc spray, and others. Among these, plasma spray technology is the fastest growing segment and is estimated to grow rapidly over the forecast period.
Based on application, the market is segmented into aerospace, industrial gas turbine, automotive, medical, printing, oil & gas, steel, pulp & paper, and others. Among these, the aerospace segment is estimated to report the highest market growth over the forecast period, due to the increased usage of thermal spray to provide high thermal resistance, product longevity, and protective coatings for aircraft components such as engine turbine blades, actuation systems, landing gear, among others.
Based on the region the market has been segmented into North & Latin America, Europe, Asia Pacific, and Middle East & Africa.
Thermal Spray Regions
North America is leading the market for thermal spraying and is estimated to dominate the market over the forecast period by growing at a significant CAGR and register a steady market growth, owing to the high consumption of thermal spray in the aerospace and automotive industries. The increase in oil and gas operations in the U.S. and Canada is also assessed to influence market growth. Additionally, the increasing usage of the industrial gas turbine is estimated to contribute to the growth of the thermal spray market over the period.
The European market is estimated to show moderate growth, owing to the growing implementation of thermal sprays in the automotive and aerospace industry. The well-established medical industry is also assessed to create growth in the thermal spray market over the forecast period.
Asia Pacific region is expected to showcase rapid expansion in the aerospace segment, owing to the rising purchasing power of consumers and increasing investments in transportation infrastructure, subsequently contributing to the thermal spray market over the forecast period.
The Middle East & Africa region is estimated to show significant growth owing to the rise in oil & gas activities in the region and is estimated to be a contributing factor to the market growth over the forecast period.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis