DUBLIN--(BUSINESS WIRE)--The "Thermal Spray Coatings Market by Materials (Ceramics and Metals & Alloys), Process (Combustion Flame and Electrical), End-Use Industry (Aerospace, Automotive, Healthcare, Agriculture, Energy & Power and Electronics) and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The thermal spray coatings market was valued at USD 10,570 million in 2019 and is projected to reach USD 10,714 million by 2025, at a CAGR of 7.0% between 2020 and 2025.
The growth in the aerospace, automotive, healthcare and other industries is driving the demand for thermal spray coatings. Low-cost coating and improved shelf life of equipment or surface is expected to drive the growth of thermal spray coatings market. However, lack of knowledge and technical skills is restraining the growth of thermal spray coatings market. Additionally, the recent outbreak of COVID-19 has resulted in the shutting of manufacturing facilities across the globe which will have a severe effect on the Thermal spray coatings market.
Ceramic, is the fastest-growing material in the thermal spray coatings market
The ceramic material is projected to register the highest CAGR during the forecast period. The growing demand for ceramic material is due to its cost efficiency and easy availability. The growth is also driven by the growth in aerospace, healthcare, automotive and other end-use industries. Metal & alloys to be the second-largest consumed material in the thermal spray coatings market. The increased usage of metals & alloys is attributed to the speed of coating deposition and feedstock flexibility on the surface or component.
North America to dominate thermal spray coatings market
North America is the largest consumer of thermal spray coatings market. This growth is mainly attributed to the increasing urbanization & modernization, increasing personal disposable income and growing demand from various end-use industries such as aerospace. The aerospace industry in North America is in boom due to demand backlog of big manufacturers. Technological advancement and high skilled labor create a lucrative growth opportunity in automotive and various other industries. The US is to be the largest contributor to the thermal spray coatings market in the region.
Aerospace to dominate thermal spray coatings market in the forecast period
The Aerospace industry is the largest consumer of thermal spray coatings market. This growth is attributed towards increasing consumption of thermal spray coatings from various end-use industries such as aerospace, automotive and other. Moreover, the boom in the aerospace industry and demand backlog which is almost equal to 10 years. North America to be in lead in the aerospace industry because of the availability of big manufacturers such as Boeing.
- Growing Demand from the Healthcare Industry
- Reduced Maintenance Cost of Thermally Sprayed Parts
- Thermal Spray Substituting Electroplating Processes
- Boom in the Aerospace Industry
- Stringent Regulations for Thermal Spray Coatings
- Adoption of New Measures to Conserve Energy & Harness Renewable Energy Sources
- Lack of Technical Skills
- Low Investment in R&D Activities by End-Use Industries
- Praxair Surface Technologies, Inc.
- Oerlikon Metco
- Surface Technology
- H.C. Starck Gmbh
- Flame Spray Coating Company
- Thermal Spray Technologies, Inc. (Tst)
- A&A Coatings
- General Magnaplate Corporation
- Plasma-Tec, Inc.
- Asb Industries, Inc.
- Polymet Corporation
- Progressive Surface
- Brycoat Inc.
- Metallisation Limited
- Exline, Inc.
- Associated Wear Coatings, Inc.
- Arc Spray (Pty.) Ltd.
- F.W. Gartner Thermal Spraying
- Flame Spray Spa
- Tocalo Co., Ltd.
- Treibacher Industrie Ag
- Gtv Verschleischutz Gmbh
- Ametek Inc.
- C&M Technologies Gmbh
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