Thermal Spray Coatings Market Outlook, COVID-19 Analysis, Share and Future Growth & Size Analysis, Development and Forecast to 2028 | Grand View Research, Inc.

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According to a new report published by Grand View Research, Increasing automotive production, mainly in the Asia Pacific region, is expected to propel the product demand in the years to come. However, the global Covid-19 pandemic has disrupted supply chains and sharply curtailed product demand.

The global thermal spray coatings market size is projected to reach USD 14.1 billion by 2028, registering a CAGR of 4.1% over the forecast period, according to a new report by Grand View Research, Inc. The global market is anticipated to be driven by the increasing product application scope owing to advantages, such as wear and corrosion protection, low toxic gas emissions, thickness capability, and electrical resistance.

Thermal spraying is used to improve or restore the surface of a solid material. It can also be used for applying coatings to a wide range of components and materials for better resistance against cavitation, wear, abrasion erosion, and heat. Approximately, 40 to 45% of paints & coatings produced globally are used as protective and decorative paints in the architecture industry. These can be used either for existing or newly constructed structures including monuments, private offices, residential buildings, plants & factories, and public buildings.

China, India, and Indonesia are majorly contributing to the growth of the construction industry in Asia Pacific. The rising population coupled with rapid urbanization & industrialization, especially in the aforementioned economies, has encouraged governments to increase their construction spending and boost infrastructural development. Furthermore, the rising popularity of powder-based coatings owing to the low cost is also significantly contributing to the growth of the global coatings market. Various rules are applicable, in terms of the manufacturing of coatings, due to the carcinogenic and flammable nature of solvents.

However, powder-based coatings are eco-friendly as they contain no solvents and hence do not lead to Volatile Organic Compounds (VOCs), which cause air pollution. The Covid-19 pandemic has severely disrupted supply chains and sharply curtailed product demand. Restriction in transportation and supply due to slowdown or halting of factories and partial or nationwide lockdowns in several countries to restrain the spread of the coronavirus are expected to have an adverse impact on market growth.

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Thermal Spray Coatings Market Report Highlights

The aerospace application segment dominated the market with a revenue share of 32.2% in 2020
The high growth is attributed to the wide product usage in aerospace applications as it helps reduce the high-temperature effects on components and increase their lifespan
Ceramics was the dominant product segment and accounted for the highest revenue share in 2020
This growth is credited to the high demand for these products from the industries, such as healthcare, aerospace & defense, energy, and industrial goods
The global market is highly competitive because of the presence of several medium- and small-scale companies across the globe
Key manufacturers focus on developing innovative formulas to offer diverse and high-quality products

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Thermal Spray Coatings Market Segmentation

Grand View Research has segmented the global thermal spray coatings market on the basis of product, technology, application, and region:

Thermal Spray Coating Product Outlook (Revenue, USD Million, 2016 – 2028)

Metals
Ceramics
Intermetallics
Polymers
Carbides
Abradables
Others

Thermal Spray Coating Technology Outlook (Revenue, USD Million, 2016 – 2028)

Cold
Flame
Plasma
High-Velocity Oxy-Fuel (HVOF)
Electric Arc
Others

Thermal Spray Coating Application Outlook (Revenue, USD Million, 2016 – 2028)

Aerospace
Industrial Gas Turbine
Automotive
Medical
Printing
Oil & Gas
Steel
Pulp & Paper
Others

Thermal Spray Coating Regional Outlook (Revenue, USD Million, 2016 – 2028)

North America
U.S
Canada
Mexico
Europe
Germany
U.K
France
Finland
Denmark
Sweden
Asia Pacific
Japan
China
India
Australia
Thailand
Malaysia
Central & South America
Brazil
Argentina
Middle East & Africa
Saudi Arabia
United Arab Emirates (UAE)
Oman

List of Key Players of Thermal Spray Coatings Market

Praxair Surface Technologies, Inc.
H.C. Starck, Inc.
Wall Colmonoy Corp.
Powder Alloy Corp.
Saint-Gobain S.A.
Carpenter Technology Corp.
Durum Verschleiss-Schutz GmbH
Montreal Carbide Co. Ltd.
Progressive Surface, Inc.
American Roller Company, LLC
Lincotek Surface Solutions
John Wood Group PLC
Air Products and Chemicals, Inc.
Metallizing Equipment Co. Pvt. Ltd.

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About Grand View Research

 

Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.

Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.

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