Chicago, March 08, 2023 (GLOBE NEWSWIRE) -- The global thermal spray coatings market is estimated to be USD 7.6 billion in 2020 and is projected to reach USD 10.7 billion by 2025, at a CAGR of 7.0%, as per the recent study by MarketsandMarkets™. This growth is mainly attributed to the high demand from the aerospace, healthcare and automotive end-use industries.
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Browse in-depth TOC on “Thermal Spray Coatings Market”
69 - Market Data Tables
36 - Figures
145 - Pages
List of Key Players in Thermal Spray Coatings Market:Praxair Surface Technologies, Inc (US)BodyCote (UK)Oerlikon Metco (Switzerland)Surface Technology (UK)H.C Starck Gmbh (Germany)F.W. Gartner Thermal Spraying (US)Arc Spray (Pty) Ltd (South Africa)Metallisation Limited (UK)Plasma-Tec, Inc. (US)C&M Technologies GmbH (Germany)AMETEK Inc. (US)Flame Spray SpA (Italy)BryCoat Inc. (US)Thermal Spray Technologies, Inc. (tst) (US)
Key Findings of the Study:The ceramics material is projected to have the highest share during the forecast period.Aerospace industry is projected to register the highest CAGR, in terms of value, in the thermal spray coatings market during the forecast period.North America to lead Thermal Spray Coatings market during the forecast period.
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The thermal spray coatings market has been segmented on the basis of end-use industry. Among the end-use industries, Aerospace industry is the largest consumer of thermal spray coatings market. This high growth is attributed towards increasing consumption and demand backlog of major manufacturers such as Boeing and Airbus. Healthcare industry is expected to register highest CAGR during the forecast period.
In terms of geographic coverage, the thermal spray coatings market has been segmented into five key regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is the largest consumer of thermal spray coatings market. This is due to the growing aerospace, automotive and other industries. The development of these industries is attributed to the increasing urbanization & modernization, technological advancement and investments from government to promote thermal spray coatings.
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Continuous R&D activities to improve efficiency & advancement in technology of thermal spray coatings are expected to provide significant opportunities in the thermal spray coatings market. Moreover, boom in aerospace industry due to demand backlog which is almost equal to 10 years is expected to drive the growth of thermal spray coatings. Increasing automotive production and safety of patients with medical implants are promoting more and more R&D investments in thermal spray coatings which in turn is expected to drive the growth of thermal spray coatings. Instead, lack of knowledge and technical skills is expected to restrain the growth of thermal spray coatings. Key players in the thermal spray coatings market are tapping this opportunity by enhancing their product lines providing customized products as per required specifications.
Praxair Surface Technologies, Inc (US), BodyCote (UK), Oerlikon Metco (Switzerland), Surface Technology (UK), H.C Starck Gmbh (Germany), F.W. Gartner Thermal Spraying (US), Arc Spray (Pty) Ltd (South Africa), Metallisation Limited (UK), Plasma-Tec, Inc. (US), C&M Technologies GmbH (Germany), AMETEK Inc. (US), Flame Spray SpA (Italy), BryCoat Inc. (US), Thermal Spray Technologies, Inc. (tst) (US) are the key players operating in the thermal spray coatings market.
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