Thermal Spray Coating Market Size & Trends 2022

1. Thermal Spray Coating Market Analysis, Statistics, Revenue, Demand and Trend Analysis Research Report by 2024

2. The thermal spray coating market is anticipated to garner remarkable growth on account of the product’s wide ranging application across diverse end-user industries. Companies operating in the automotive and aerospace sector prefer thermal spray coatings as it offers enhanced chemical resistance and wear protection. It plays a crucial role in reducing component replacement cost in the energy & gas industry and in improving machine performance. • Constant technological innovations, like the advent of HVOF process, have substantially substituted traditional hard chrome plating methods by offering low processing time. Additional advantages like cost-effectiveness, high performance to machinery, and minimal environmental effects could fuel the adoption of thermal spray coating process in the years to come. • In terms of materials, the thermal spray coating industry is bifurcated into polymers, metals, Intermetallics and ceramics. A study conducted by Global Market Insights, Inc., estimates that the metal thermal spray coating market may register significant growth, amassing by over 9.5% by 2024. Escalating demand for robust metal finishing across large structures such as offshore oil platforms and bridges could strengthen the demand for thermal spray coatings. Additionally, the material’s widely used application across healthcare and automotive industries for providing comprehensive anti-corrosion and thermal barrier protection on finishing surfaces may compliment segment growth.

3. Apart from metal, remarkable qualities of ceramic, like high-temperature resistance, enhanced oxidation resistance properties and superior adhesive bonding, could also propel the demand for ceramics thermal spray coatings over the coming years. Earlier in 2016, the ceramic segment had accounted for more than USD 3 billion. • Ceramic offers strong surfaces to multiple automobile components ranging from cylinders and valves to diesel engine pistons. Rising usage of this material in turbine blades, flame tubes and aerospace engine systems to provide superior heat resistance could expand thermal spray coating market size. • Based on end-use, the thermal spray coating market is segmented into automotive, energy & power, aerospace & defense, healthcare, agricultural machinery and electronics. Out of these industry spheres, the automotive sector is poised to witness lucrative growth, attaining a CAGR of more than 8.5% by 2024. This growth can be attributed to mounting demand for commercial as well as passenger vehicles that have durable coated components. • Better reliability and maintainability coupled with improved product life cycle could expand the business horizon for thermal spray coating manufacturers. Moreover, high resistance features towards decomposition and scratch on numerous automotive machinery could deepen product penetration in new, untapped markets. • Browse Full Report Description @ https://www.gminsights.com/industry-analysis/thermal-spray-coating-market

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