HYDERABAD, India, September 14, 2016 /PRNewswire/ --
Mordor Intelligence announces the publication of their research report on the thermal spray market. The report titled, "Global Thermal Spray Market - Segmented by Coatings & Finishing, Materials, Equipment, End-User Sector, and Geography - Trends and Forecasts" discusses the current landscape and outlook of the market.
The thermal spray market was valued at USD 7.580 billion in 2015 and is estimated to reach USD 77.8936 billion by 2021, growing at a CAGR of 7.79% during the forecast period, 2016 to 2021.
Thermal spraying is a complex procedure involving many industrial processes where micrometer-sized particles of molten or semi-molten materials are propelled on the surface of the desired substrate to form a protective or decorative coating. Thermal spray coating has the following advantages to end-users, viz. lower coating costs, improved engineering performance and increased component life. Thermal spray techniques, owing to their superior deposition rate, compared with other traditional coating processes, are an integral part of numerous industrial sectors. This market is driven by factors, such as the demand from the automotive sector, increased usage in medical devices and replacement of hard chrome coating with thermal spray coatings.
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Our report on the thermal spray market is segmented based on coatings & finishing, materials, equipment and end-user sector. Based on geography, the market is segmented into North America (United States, Canada, Mexico, and Rest of North America), Europe (Germany, United Kingdom, Italy, France, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Rest of APAC), South America (Brazil, Argentina, Rest of South America), and Middle-East & Africa (Saudi Arabia, South Africa, and Rest of Middle-East & Africa).
In 2015, the aerospace industry was the largest end-user sector and accounted for about 34% of the global thermal spray market followed by industrial gas turbines. The automotive sector is estimated to be the fastest growing end-user sector with a growth rate of over 8% during the forecast period. North America dominated the market in 2015, accounting for almost 32% of the global market and Asia-Pacific is expected to be the fastest growing region with a CAGR of 8.40% during the forecast period.
Some of the key players in this market are APS Materials Inc., Flame Spray Technologies, H.C. Starck, Oerlikon Metco, Praxair Surface Technologies, Treibacher Industries AG and TST Engineered Coating Solutions.
About Mordor Intelligence:
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SOURCE Mordor Intelligence