Thermal Spray Coatings Market Size & Share, Research Report 2018-2025

Adroit Market Research published a study titled, "Global Thermal Spray Coatings Market Size 2017 By Product (Metals, Ceramics, Intermetallics, Polymers, and Others), by Application (Aerospace, Industrial Gas Turbine, Automotive, and Others), By Region and Forecast 2018 to 2025". The report provides a comprehensive evaluation of global thermal spray coatings market based on drivers, restraints and future opportunities that are expected to influence the market revenue during the forecast period. Additional tools such as Porter’s five forces analysis, PESTEL analysis, and value chain analysis are included to give a holistic market view. The market revenue forecast is provided up to 2025, with 2015 to 2017 being the historical figures and annual forecast between 2018 and 2025. The report also includes the prevailing trends impacting the global thermal spray coatings market size. Furthermore, the report provides an overview of the thermal spray coating equipment market.

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The global thermal spray coatings market size is projected to be worth USD 15.01 billion by 2025. This can be attributed to its increasing usage in aerospace and automotive industries. Expansion of these industries is projected to offer favorable growth opportunities for the global thermal spray coatings industry over the next few years.

Based on product, ceramics is projected to contribute to more than 30% of the revenues in the global thermal spray coatings market by 2025. Rising need for high-performance ceramic coatings in various industries including aerospace & defense, healthcare, energy, fiber-optic communications, environmental protection, and industrial goods is likely to drive the global thermal spray coatings market size during the forecast period.

Ceramic coatings are inorganic, non-metallic solid and inert thin films made by deposition, heating and subsequent cooling, which may be crystalline. Ceramic materials act as excellent electric and thermal insulators. They also have good resistance to oxidation and wear. These characteristics are quite useful on engine and turbine components as thermal barrier coatings. Corrosion and wear protection are the key advantages offered by ceramics coatings that contribute to its extensive use in various industries. Zirconium oxide, aluminum oxide (alumina), titanium dioxide, chrome oxide, and alumina-titania are some of the commonly used ceramic materials that are used in surface coating processes.

Based on application, the industrial gas turbine is projected to be the fastest growing application in the global thermal spray coatings market with a valuation of approximately USD 3.81 billion by 2025. Industrial gas turbine components are subject to huge mechanical loads at high temperatures while confronting the corrosion of hot gas and the erosion of aggressive air and fuels. Special thermal sprayed coatings have been developed to protect against these damaging environments. These coatings extend the operating life and enable higher turbine-entry-temperature (TET) to improve thermal efficiency. The rising application of gas turbines in helicopters, ships, tanks, locomotives, and motorcycles is due to the properties of thermal spray coatings such as protection of gas turbine components against friction, wear, and corrosion. Growing energy needs across the globe are expected to boost the demand for high-performance engines and turbines, thereby, leading to the growth of thermal spray coatings market. Most modern gas turbines use thermal spray coating technology to keep these components performance.

North America is anticipated to hold a market share of more than 27% at the end of the forecast period. The growing aerospace and automotive manufacturing sector are expected to fuel the demand for thermal spray coatings in the region. According to the International Organization of Motor Vehicle Manufacturers, 1,983,745 vehicles were sold in Canada in 2016 as compared to 2,077,000 vehicles sold in 2017, which is a 4.7% increase. This growth is projected to augment the demand for thermal spray coatings in the country. Furthermore, the stringent environmental regulations in the region have escalated the demand for environmentally friendly products, thereby, leading to the overall thermal spray coating equipment market growth.

The landscape of the global thermal spray coatings market is fragmented with a large number of participants. The key players in the thermal spray coatings report include Praxair Surface Technologies, TWI Ltd., TST Engineered Coating Solutions, Metallisation Ltd., Air Products & Chemicals, Flame Spray Coating Co., Oerlikon Metco, A&A Coatings, Curtis-Wright Corporation, Plasma-Tec, Inc. and White Engineering Surfaces Corporation among others.

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Key segments of the global thermal spray coatings market

Product Overview, 2015-2025 (USD Million)

• Metals
• Ceramics
• Intermetallics
• Polymers
• Others

Application Overview, 2015-2025 (USD Million)

• Aerospace
• Industrial Gas Turbine
• Automotive
• Others

Regional Overview, 2015-2025 (USD Million)

• North America
• U.S.
• Canada
• Europe
• France
• Germany
• UK
• Italy
• Rest of Europe
• Asia Pacific
• India
• Japan
• China
• Rest of APAC
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East and Africa

Key Players analysed in the report include

• Praxair Surface Technologies
• TWI Ltd.
• Metallisation Ltd.
• TST Engineered Coating Solutions
• Flame Spray Coating Co.
• Others

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