DUBLIN--(BUSINESS WIRE)--The "Thermal Spray Materials Market by Type, by End-Use Industry, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2014-2024" report has been added to ResearchAndMarkets.com's offering.
The global thermal spray materials market is projected to reach $2,869.2 million by 2024.
The market growth is driven by the increasing requirement of thermal sprays for coating components, which are vulnerable to corrosion, erosion, and extremely high temperature and pressure conditions.
Based on type, the thermal spray materials market is characterized into powder and wire/rod. Wire/rod category is estimated to account for larger share in 2018. High demand for wire/rod is driven by the fact that by using wire/rod, only the molten droplets are propelled toward the substrate, thereby minimizing wastages. Another advantage of this category is that the flame coming out of nozzle of spraying machine is concentric with the wire/rod, which ensures uniform heating for proper spraying of material.
Based on end-use industry, the thermal spray materials market is categorized into automotive, aerospace, industrial gas turbines, energy and power, electronics, oil and gas, medical devices, and others. The others category includes adoption of thermal sprays in equipment and devices that are engaged in textile manufacturing, rubber manufacturing, food processing, mining, and industrial manufacturing industries. Globally, aerospace is estimated to account for the largest share in the market, contributing more than 35% share in 2018.
Aerospace and aviation components often get exposed to harsh environmental conditions, such as extreme heat and pressure. Thermal spray materials, thus, help in protecting these components from high wear and heat. Moreover, application of thermal spray powder over these components results in reduced maintenance cost, enhanced performance, and higher fuel efficiency. Thus, it can be inferred that growing production of aircraft is expected to boost the thermal spray materials market in the near future.
North America is estimated to account for the largest share in the market in 2018, with more than 35% revenue share. The thermal spray materials market in North America is majorly driven by the presence of large civil and military aircraft manufacturers in the region, such as The Boeing Company, Lockheed Martin Corporation, and Bombardier Inc., which continue to generate high demand for thermal spray coatings to protect automotive components from wear and corrosion.
Kinetic spraying also known as cold gas dynamic spraying is one of the novel spray methodologies to be developed. In this process, solid particles impact on substrate at high velocities to form coatings at the surface of the substrate. The process is highly favorable due to its ability to exhibit a deposition efficiency of 90%, and compatibility with metals and alloys of titanium and nanocrystalline materials. With the advent of technological advancements in spray technology such as non-destructive testing (NDT), and low cost of the process are likely to incentivize adoption of the cold spray process, leading favorable growth opportunities in the thermal spray materials market.
Majority of companies engaged in the thermal spray materials market are forward-integrated to provide coating solutions in the form of technologies, equipment, and services. Besides, these players have differentiated clients and customers in the aerospace, automotive, medical, oil and gas, and marine industries.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Type
126.96.36.199.1.1 Pure metal and alloy
188.8.131.52.1.2 MCrAlY alloy
184.108.40.206.1.3 Precious metal
220.127.116.11.2.1 Ceramic oxide
18.104.22.168.3 Polymer and other material-based
4.1.2 By End User
22.214.171.124 Industrial gas turbines
126.96.36.199 Energy and power
188.8.131.52 Oil and gas
184.108.40.206 Medical devices
4.2 Market Dynamics
220.127.116.11 Shift toward high-volume demand for thermal sprays across emerging economies in APAC region
18.104.22.168 Growth in aerospace industry and increasing demand for thermal sprays in aircrafts
22.214.171.124 Growth in automobile industry and increasing demand for thermal sprays in automobiles
126.96.36.199 Demand for thermal sprays in biomedical devices
188.8.131.52 Impact analysis of drivers on market forecast
184.108.40.206 High technological complexity of thermal spraying process
220.127.116.11 Impact analysis of restraints on market forecast
18.104.22.168 Advancements in spray technology and increasing adoption of cold spray process
4.3 Value Chain Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Type
5.1.1 Thermal Spray Powder, By Type
22.214.171.124 Metal-based thermal spray powder, by type
126.96.36.199 Ceramic-based thermal spray powder, by type
188.8.131.52.1 Ceramic oxide-based thermal spray powder, by type
5.2 By End-Use Industry
5.3 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 Market Share Analysis of Key Players
11.2 Benchmarking of Key Players
11.3 Product Mapping of Key Players
11.4 Global Strategic Development of Key Players
11.4.1 Mergers and Acquisitions
11.4.2 Product Launches
11.4.3 Facility Expansions
Chapter 12. Company Profiles
- Sandvik AB
- Kennametal Inc.
- OC Oerlikon Corporation AG
- Saint-Gobain S.A.
- Hgans AB
- Carpenter Technology Corporation
- AlSher APM
- AMETEK Inc.
- C&M Technologies GmbH
- Bay State Surface Technologies Inc. (Aimtek Inc.)
- Powder Alloy Corporation
- Praxair S.T. Technology Inc.
- H.C. Starck GmbH
For more information about this report visit https://www.researchandmarkets.com/r/xb0n0i