Zion Market Research added a new report “Thermal Spray Coating Market (Polymer, Ceramic, Metal and Others) for Automotive, Aerospace, Industrial Gas Turbine and Other Applications: Global Market Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. in its database.
Sarasota, FL -- (SBWIRE) -- 01/16/2018 -- Zion Market Research has published a new report titled "Thermal Spray Coating Market (Polymer, Ceramic, Metal and Others) for Automotive, Aerospace, Industrial Gas Turbine and Other Applications: Global Market Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022". According to the report, global thermal spray coating market was valued at USD 8.53 billion in 2016 and is expected to reach USD 13.61 billion in 2022, growing at a CAGR of 8.1% between 2017 and 2022.
Thermal spray is a process of coating in which the feedstock is heated or melted by two means i.e. electrical and chemical. The thermal coating offers thick coats (up to 20 micrometers) to the surface as compared to the conventional coating process. Feedstock extensively used for thermal spraying coating includes alloys, ceramics, metals, plastics, and composites. These feedstocks are feed in powder form and further accelerated in a molten state to get micrometer-size particles. Moreover, thermal spraying coating process finds numerous applications such as aerospace, automotive, medical, and among others.
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The global thermal spray coating market is primarily driven by growing demand for coating applications in numerous industries across the globe. Moreover, changing trends and growing developments in aerospace and the automotive industry is likely to fuel the growth of thermal spray coating market in the near future. Rising demand for thermal spray coating in the medical sector is also another driving factor that is expected to boom the market size during the next few years. However, fluctuating prices of raw material may slow down the growth of the market. Nonetheless, emerging market in developing countries is likely to set new wings to the global thermal spray coating market during the years to come.
Based on different product type, the global thermal spray coating market is bifurcated into polymer, ceramic, metal and others. Among these products, ceramic dominated the global thermal spray coating market in 2016. Furthermore, it is also predicted to be the fastest growing product of the global thermal spray coating market in the near future. Metal was the second largest product segment of global thermal spray coating market in the same year. Moreover, the polymer is estimated to witness the moderate growth in the coming years.
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Automotive, aerospace and industrial gas turbines are the major applications of the global thermal spray coating market. Aerospace led the global thermal spray market in 2016. It held a significant share in the thermal spray coatings market and this trend is predicted to continue over the next few years. Growing demand for locomotive, helicopters, and tanks is likely to fuel the growth of thermal spray coating market. Moreover, aerospace was followed by the industrial gas turbine and automotive application in 2016. Industrial gas turbine is expected to experience the fastest growth of the market within the forecast period.
North America was the most attractive market for thermal spray coating in 2016. Furthermore, it is anticipated to continue its dominance in the market within the forecast period. On-going research and development coupled with increasing production of the aerospace industry in the region are likely to grow the market size at a strong CAGR during the future years in North America. Additionally, North America was followed by Europe and Asia Pacific in the same year. Asia Pacific is expected to witness the lucrative growth of the market owing to the emerging aerospace and automotive industry in countries like China and India.
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Some of the major players involved in the global thermal spray coating market are Air Products & Chemicals, Praxair Surface Technologies, Flame Spray Coating Company, Abakan Inc., TST Engineered Coating Solutions, Sulzer Ltd, ASB Industries, Inc., Plasma-Tec, Inc., Oerlikon Group, Metallisation Ltd., Surface Technology, and Bodycote plc among others.
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