Thermal Spray Coatings Market Set to Soar Past USD 15.91 Billion by 2030
The global Thermal Spray Coatings market size is expected to reach USD 15.91 billion by 2030 and exhibit a CAGR of 5.0% in the forecast period (2023−2030), according to Skyquest’s latest research report. The economic growth, increased industrialization, demand for high-performance coatings, automotive and aerospace industries, corrosion resistance, energy efficiency, technological advancements, cost-effective solutions, extended component lifespan, environmental regulations, emerging markets, research and development, surface modification, repair and refurbishment, competitive advantages, are fueling the market’s growth.
Westford, USA, Jan. 29, 2024 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Thermal Spray Coatings market, automation, additive manufacturing integration, digitalization, Industry 4.0, nanocoatings, custom coating solutions, sustainable practices, reduced emissions, smart coatings, 3D printing technologies, advanced material development, AI-driven process optimization, remote monitoring, IoT connectivity, green and eco-friendly coatings, surface engineering innovations, customized coatings, are the trends that aid in the market’s growth.
Browse in-depth TOC on “Thermal Spray Coatings Market”
- Pages – 157
- Tables – 60
- Figures – 75
Thermal spray coating is a process of applying a protective or decorative coating to a substrate by spraying molten or semi-molten materials onto the surface at high velocity. The coating material can be in the form of a powder, wire, or rod, and is typically heated using a plasma arc, flame, or laser. The coating material then adheres to the substrate and solidifies, forming a thin, dense layer.
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Prominent Players in Thermal Spray Coatings Market
- Sulzer
- Oerlikon Metco
- Praxair Surface Technologies
- Flame Spray Industries
- Sermatech
- ITW Thermal Spray
- Metallization
- HVOF Spraytech
- Thermatech
- Spray Dynamics
- Tecnar Automation
- Castolin Eutectic
- Wall Colmonoy
- ProCoatings
- Diamond Coatings
- Thermionics Northwest
- Surface Technology Systems
- A & A Coatings
- Plasma Coatings
- Coating Systems
Metals Demand to Grow Substantially in the Forecast Period
Metals dominate the global online market as they are commonly used in thermal spray coatings for applications requiring excellent thermal conductivity and electrical properties. They are dominant in the aerospace and automotive industries where these properties are crucial.
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The Aerospace Industry is the Leading Application Segment
In terms of application, the aerospace industry is the leading segment as these coatings are used to enhance the performance and durability of critical components in aircraft and spacecraft. They provide thermal protection, wear resistance, and corrosion resistance. As the aerospace industry continues to grow with increased demand for commercial and military aircraft, the need for advanced thermal spray coatings is likely to remain strong.
North America is the leading Market Due to the Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The presence of a robust aerospace and automotive industry, both of which require high-performance coatings for their components. The United States has a long history of research and development in this field, contributing to its dominance.
A recent report thoroughly analyzes the major players operating within the Thermal Spray Coatings market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Thermal Spray Coatings.
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Key Developments in Thermal Spray Coatings Market
- In April 2023, Praxair Surface Technologies announced the acquisition of K-Tech Specialty Coatings, a leading provider of advanced coatings for the aerospace and defense industries.
- In April 2023, Praxair Surface Technologies announced the acquisition of K-Tech Specialty Coatings, a leading provider of advanced coatings for the aerospace and defense industries.
- In January 2023, H.C. Starck Solutions announced the launch of its new line of thermal spray powders for the medical device industry, including coatings for orthopedic implants and dental applications.
Key Questions Answered in Thermal Spray Coatings Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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