North America represented the largest regional market for global thermal spray coatings market in 2017
NEW YORK, Jan. 21, 2020 /PRNewswire/ --
The market for thermal spray coatings is expected to register a significant growth during the forecast period, 2018 to 2023. This significant growth in the market is primarily driven by rising popularity of thermal spray ceramics coatings globally.
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Increasing Popularity of Ceramics Coatings Driving the Market
Thermal spray ceramic coating technologies are used to offer various types of protection in the form of coatings to a wide range of industrial components. Owing to their ability to reduce or prevent wear and tear of components caused by erosion, abrasion, corrosion, manage thermal or electrical conductivity and other key properties, they are being increasingly used in numerous industrial and commercial sectors, such as automotive, aerospace, construction, and oil and gas. Additionally, thermal spray ceramic coatings are primarily applied using the plasma-spraying process, owing to their generally high melting temperatures and low thermal conductivity. This makes them suitable for usage for specialized applications that require the materials to withstand forces at high temperatures. Also increasing demand for gas turbines in the oil & gas industry for offshore exploration are driving the market for industrial gas turbines in turn providing a positive outlook for the thermal spray coatings market.
Aerospace to be the Largest Application
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, actuation systems to provide high thermal resistance and longevity. Thermal spray coatings such as zirconium oxide, aluminum bronze, cobalt-molybdenum are used for coating purposes in rocket combustion chambers, compressor air seals and high pressure nozzles, respectively. Asia-Pacific and Middle East & Africa regions are expected to witness rapid expansion in the aviation sector owing to rising consumer incomes and investments in transportation infrastructure in near future.
North America to Dominate the Market
North America represented the largest regional market for global thermal spray coatings market in 2017. The U.S. is expected to remain the major market for thermal spray coatings in the region owing to the increasing demand for improved performance at competitive costs and meeting all the regulations and industry standards. In the region, major application for thermal spray coatings include aerospace. In the year 2017, the aerospace industry contributed around USD 143 billion in export sales to U.S. economy.
Major Players: Praxair Surface Technologies, Air Products & Chemicals, Oerlikon Group, A&A Company, ASB Industries, etc., among others.
Reasons to Purchase this Report
- Identify the current and future prospects of the global thermal spray coatings market in the developed and emerging markets
- Analyze various perspectives of the market with the help of Porter's five forces analysis
- Information about the growth of the various product segments that are expected to dominate the market
- Regional and Country analysis of the market
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