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%. The growth of the thermal spray coatings market is attributed towards increasing consumption of thermal spray coatings from aerospace, automotive and other end-use industries. However, lack of knowledge and technical skills is restraining the growth of thermal spray coatings market. Additionally, recent outbreak of Covid-19 has resulted in shutting of manufacturing facilities across the globe which will have severe effect on the Thermal spray coatings market.
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The thermal spray coatings market has been studied for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is the largest consumer of thermal spray coatings market. The global thermal spray coatings market has witnessed a significant growth. This created huge opportunities for the consumption of thermal spray coatings in North America. Urbanization, modernization, technological advancement and increase in personal disposable income of the consumers in this region is also driving the use of thermal spray coatings in various end-use industries such as aerospace, automotive, healthcare and others.
The Aerospace industry is the largest consumer of thermal spray coatings market. This growth is mainly attributed to the boom in aerospace industry and demand backlog which is almost equal to 10 years. North America to be in lead in aerospace industry because of availability of big manufacturer such as Boeing. Automotive is another major industry for thermal spray coatings. Moreover, big manufacturers of aircrafts such as Boeing & Airbus are going to increase their production capacity to fulfill the demand for commercial & defense aircrafts
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 leading manufacturers of thermal spray coatings, globally.
Praxair Surface Technologies, Inc (US) is one of the leading players in the thermal spray coatings market. The company has been focusing on organic & inorganic strategies to maintain its leading position in the market. Praxiar has a wide product portfolio for serving Domestic & International markets. For example, In February 2018, PG Technologies, Pte Ltd, a wholly owned subsidiary of Praxair Surface Technologies and GE Aviation, expanded its production to add additional coating capacity in Singapore to meet the aviation industry’s growing demand. The facility plans to double its electron beam physical vapor deposition (EBPVD) coating capacity as well as add other aviation-related coating processes in a new facility. Additionally, in December 2017, Praxair and GE Aviation together opens up a New Advanced Jet Engine Coatings Facility in Ellisville, Mississippi which specializes in advanced coatings that enable jet engines to withstand higher temperatures and stresses. This expansion helped both the companies in expanding its foothold towards core aviation industry.
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