Thermal spray Market Overview:
The global market of thermal spray is segmented on the basis of product type, technology, application and region. On the basis of product type, ceramics is anticipated to be the leading segment in 2016 and is expected to show the same trend during the assessed years. The growing demand for ceramic coatings from the defense, oil & gas and healthcare industries is are the key factor attributing to the growth of the segment. Moreover, the metal product segment is anticipated to be the second largest segment with a market share of over 20 % in 2016. Among the various technologies, plasma spray is the fastest growing segment and is anticipated to exhibit an expanding CAGR of over 5% in the given period. The Aerospace application sector is expected to account for a market share of 30% in 2016 and is expected to follow the same trend during the assessed years.
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Industry/ Innovation/ Related News:
29th January, 2018– National Aeronautics and Space Administration (NASA) has expressed its interest in a new Indian produced thermal spray coating technology which is especially designed for gas turbine engine in space craft. The new coating technology is expected to reduce thermal spray cost to around 50%. The adoption of this technology by NASA is anticipated to further surge the market growth in the Asia Pacific region.
9th October 2015– Thermal Spray Technologies Inc. has made a capacity addition in its existing facility at Sun Prairie. The company has made an investment of US$ 11.5 million and is projected to generate at least 200 new job prospects. This expansion is stated to substantially increase their production capacity thereby adding to their market hold.
Thermal spraying is an industrial process helps in formation of substrates in molten and semi molten state. Thermal spray are extensively used as decorative and protective coatings in many substrates including ceramics, polymers, metals, carbides and others. These sprays possesses various properties such as enhanced shelf life and engineering performances which makes them ideal for many end use industries including automobile, aerospace, steel, medical & printing, and oil & gas among others. The growing applications in the aforementioned industries is the major factor driving the global thermal spray market. However, growing adoption of substitutes is anticipated to be a major driving the thermal spray market.
Prominent Manufacturers Analyzed in this Report are :
A & A Thermal Spray Coatings (U.S.), Flame Spray Coating Company (U.S.), General Magnaplate Corporation (U.S.), Praxair Surface Technologies, Inc. (U.S.), Oerlikon Metco (Switzerland), Plasma-Tec, Inc. (U.S.), Surface Technology inc (U.K.), H.C. Starck GmbH (Germany), and ASB Industries, Inc. (U.S.), among others are some of the prominent players at the forefront of competition in the global Thermal spray Market and are profiled in MRFR Analysis.
Thermal spray Market- Competitive Landscape:
The global Thermal spray Market is a highly lucrative market and is anticipated to show an expanding CAGR during the forecast period. A & A Thermal Spray Coatings (U.S.), Flame Spray Coating Company (U.S.), General Magnaplate Corporation (U.S.), Praxair Surface Technologies, Inc. (U.S.), Oerlikon Metco (Switzerland) among others are some of the major players operating in this market. Most of these market participants are adopting the expansion, product launch, and merger and acquisition tactics to strengthen their production capacities and market position. Taking account of these trends the global thermal spray market is projected to witness considerable competition over the forecast period of 2017-2023.
Asia pacific is expected to be the fastest growing region during the forecast years. The increasing Globalization and urbanization in the emerging economies of the region has augmented the medical and automobile industry which is anticipated to be a dominant factor for the demand for thermal spray in the region. Moreover, increasing population in India and China has fuelled the demand for energy thereby increasing the oil & gas in turn adding to the market growth.
The growing population has augmented the need for energy in the region which has resulted in a surge in oil and gas activities, thereby increasing the demand for a thermal spray for the use in bearings, pump shafts, hydraulic plungers and other applications. North America is the largest market and is expected to retain its dominance during the forecast years. The thermal spray market is segmented into five regions: Latin America, the Middle East & Africa, Asia Pacific, North America, and Europe. Among these, Asia is expected to be the fastest growing region with an encouraging CAGR. Growing population and the increasing per capita disposable income in the developing nations are primarily driving the growth of the thermal spray market. Moreover, the propelling aerospace and the automobile industry in countries such as India and China, is increasing the demand for thermal spray. Moreover, the growing demand from the oil and gas industry mainly in China, India is another factor positively affecting the market growth.
The global thermal spray market is segmented into product, application, and technology. On the basis of the product type, the market is segregated into metals, ceramics, intermetallic, polymers, carbides, abradable and others. The market by technology is further categorized into cold spray, flame spray, plasma spray, HVOF, electric arc spray, and others. On the basis of application, the market is segregated into aerospace, industrial gas turbine, automotive, medical, printing, oil & gas, steel, pulp & paper and others.
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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
To be Continued. . . .
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