Thermal Spray Market - Growth, Trends, and Forecast (2019 - 2024)

Thermal Spray Market - Growth, Trends, and Forecast (2019 - 2024)

  • November 2019 •
  • 289 pages •
  • Report ID: 5786688 •
  • Format: PDF
Market Overview
The thermal spray market is expected to register a CAGR of 6.5% during the forecast period (2019-2024). One of the major factors driving the market studied is the expanding automotive manufacturing sector in the Asia-Pacific region. Rising popularity of thermal spray ceramic coatings is also likely to boost the demand for thermal spray.

- The aerospace end-user industry dominated the market in 2018, and it is expected to grow during the forecast period, owing to the increasing investment in the global aerospace industry.
- Increasing use of thermal spray as a replacement of hard chrome coating is also expected to boost the demand for thermal spray.
- Recently, several new methods have been developed to recycle thermal spray processing materials. This is likely to act as an opportunity for the market, in the future.
- North America dominated the thermal spray market across the world, owing to the high demand from the various end-user industries.

Key Market Trends
The Aerospace End-user Industry is Expected to Witness the Highest Market Share

- In the aerospace sector, thermal spray coatings are extensively used as protective coatings, to protect aircraft components and repair the old ones. They are used in the protection of engine turbine blades and actuation systems, to provide high thermal resistance and longevity.
- Thermal sprays are largely employed for several purposes in jet engines components, such as crank shafts, piston rings, cylinders, and valves. In addition, they are also applied in the coating of landing gear (bearings and axles inside the landing gear), to withstand the forces during landing and takeoff.
- The Asia-Pacific and Middle East & African regions are expected to witness rapid expansion in the aviation sector, owing to the rising consumer incomes and investments in transportation infrastructure in the near future.
- Factors, like increasing air traffic across the world and increasing global aircraft fleet, are expected to boost the growth of the aerospace industry.

North American Region is Expected to Dominate the Market

The North American region dominated the market share in 2018. The United States is the second-largest producer of automotive in the world. The US aerospace industry is also thriving, owing to the strong exports of aerospace components to countries, such as France, China, and Germany, along with robust consumer spending in the United States. The manufacturing industry of Canada is also expected to thrive during the forecast period, owing to the increasing business investment, government expenditure, and consumer spending. The aerospace industry of Canada is also witnessing strong growth. The country is the third-largest in terms of civil aircraft production, along with being second in business aircraft production and third in helicopter production, around the world. Owing to the rise of these end-user industries in the United States and Canada, North America is projected to dominate the market during the forecast period.

Competitive Landscape
The thermal spray market is highly fragmented, with the top players accounting for less than 35% of the total market share. Some of the major companies of this market include Oerlikon Metco, HC Starck GmbH, and Hoganas AB, among others.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client’s requirements
- 3 months of analyst support
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