Thermal Spray Coatings Market Worth $ 17.57 Billion, Globally, by 2027 at 6.7% CAGR: Verified Market Research

Thermal Spray Coatings Market Worth $ 17.57 Billion, Globally, by 2027 at 6.7% CAGR: Verified Market Research

PR Newswire

JERSEY CITY, N.J., Nov. 10, 2020

Changing trends & growing developments in aerospace, automotive industry and medical sector is likely to fuel the growth of thermal spray coating market in the near future

JERSEY CITY, N.J., Nov. 10, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Thermal Spray Coatings Market by Material (Ceramics, Metals & Alloys), by Process (Combustion Flame, Electrical), by End-use Industry (Aerospace, Automotive, Healthcare & Agriculture, Energy & Power, Electronics), Geography". According to Verified Market Research, the Global Thermal Spray Coatings Market was valued at USD 10.48 Billion in 2019 and is projected to reach USD 17.57 Billion by 2027, growing at a CAGR of 6.7% from 2020 to 2027.

Thermal Spray Coatings Market, 2020-2027

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Browse in-depth TOC on "Thermal Spray Coatings Market"

202 - Pages
126 – Tables
37 – Figures

Global Thermal Spray Coatings Market Overview

Increasing demand from the industrial gas turbines coupled with growing preference for the thermal spray coatings over hard chrome coatings is expected to augment market growth. Technological innovations for the development of cost-effective products are also expected to have a positive impact on growth. In addition, increasing product application scope owing to its advantages, such as wear and corrosion protection, low toxic gas emissions, thickness capability, and electrical resistance, is expected to fuel the demand for thermal spray coatings.

Necessity to improve machinery component durability to avoid high replacement cost in several end-use industries including aerospace and energy & power will propel the thermal spray coating market. Superior properties including high corrosion, wear and heat resistance achieved through these flame spray coatings improves the overall machinery lifespan.

Furthermore, increasing R&D spending for development in new treatment methods and medical equipment will propel product demand. Increasing need to protect steel duct from sulfuric acid and corrosive gasses across chemical industries is another factor driving industry growth. Stringent government regulations regarding protection of medical tools and components will positively influence the thermal spray coatings market value. The major players in the market are Praxair Surface Technologies, Inc., Oerlikon Metco, Bodycote, Surface Technology, H.C. Starck GmbH, Flame Spray Coating Company, Thermal Spray Technologies, Inc. (TST), A&A Coatings, General Magnaplate Corporation, and Plasma-Tec, Inc.

Verified Market Research has segmented the Global Thermal Spray Coatings Market on the basis of Materials, Process, End User Industry, and Geography.

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