Global Thermal Spray Coatings Market
Global Thermal Spray Coatings Market Report Description:
Global Thermal Spray Coatings market report gives comprehensive outlook on thermal spray coatings across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global thermal spray coatings market gives historical, current, and future market sizes (US$ Mn) on the basis of product, process, heat source, application and region. This report studies global thermal spray coatings market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global thermal spray coatings market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global thermal spray coatings market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global thermal spray coatings market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global thermal spray coatings products.
Global Thermal Spray Coatings Market:
The global thermal spray coatings market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Some of the key factors influencing the market growth include boom in the aerospace industry, growing demand from the healthcare industry, technological innovations for the development of cost-effective products, increasing product demand from the industrial gas turbines application industry and growing application in the oil & gas industry. However, stringent regulations, lack of technical skills and line-of-sight coatings process in thermal spray coatings are hampering the market growth.
Increasing Demand from Oil & Gas Industry
Thermal spray coatings are used on a multitude of tools and components within the Oil and Gas industry. As the demand for oil increases and the historical oil fields are being exhausted, oil companies are having to explore within more violent environments in order to extract from both existing and new reserves. Equipment operating in these harsh conditions are subject to severe degradation. These wear mechanisms include abrasion and/or erosion from drilling muds; corrosion (pitting and crevice attack); and, stress corrosion cracking due to hot acidic conditions. As a result, downhole drilling tools and associated equipment are today required to delve deeper, run hotter, work faster, and last longer than ever before. To counteract this, thermal spray coatings are becoming more widely used by the major manufacturers in their efforts to reduce down time and improve the performance of their tools and equipment.
Presence of Substitutes Hampers the Market Growth
Development of substitutes including liquid coatings that holds higher ability to cover inside corners and hard to reach surfaces may hamper business growth. Further, growing concerns to minimize overspray and material wastage may also restrain industry demand.
Asia Pacific Accounts for Larger Market Revenue Share in Global Thermal Spray Coatings Market
Asia Pacific accounted for larger revenue share in global thermal spray coatings market with considerable CAGR. The growth in this region can be attributed to the increasing urbanization & modernization, rowing demand from numerous end-use industries, growing population and increasing personal disposable income. Moreover, as the region is a manufacturing hub regional manufacturers must meet international rules to export goods, which will drive the demand for high-quality and environment-friendly coated products. Hence, increasing the market demand as there is an increasing consumer demand for low weight components and personalized designs is another key factor fueling the market growth.
Key player’s profiles in the global thermal spray coatings market include:
- AMETEK Inc. (US)
- Arc Spray (Pty) Ltd (South Africa)
- BodyCote (UK)
- BryCoat Inc. (US)
- C&M Technologies GmbH (Germany)
- W. Gartner Thermal Spraying (US)
- Flame Spray SpA (Italy)
- C. Starck GmbH (Germany)
- Metallisation Limited (UK)
- Oerlikon Metco (Switzerland)
- Plasma-TecInc. (US)
- Praxair Surface TechnologiesInc (US)
- Surface Technology (UK)
- Thermal Spray TechnologiesInc. (tst) (US)
Global thermal spray coatings market is surging owing to frequent acquisitions and launchings by the market players. For Instance, In March 2017, Oerlikon Metco acquired the Canada based, Recentis Advanced Materials to strengthen position in coating materials market.
Key Findings of the Report:
- Global thermal spray coatings market expanding at significant CAGR over 2019 to 2025 owing to growing demand from the healthcare industry.
- Based on product, abradables segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global Thermal Spray Coatings market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
- Arc Spray
- Flame Spray
- High-velocityoxy-fuel (HVOF)
- Powder Spray
By Heat Source
- Electrical Energy
- Combustion Flame
- Industrial Gas Turbine
- Oil & gas
- Pulp & Paper
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA