Thermal Spray Coatings Market Size To Reach USD 21.96 Billion In 2030 | Increasing Use Of Thermal Spray Coatings In Medical Sector Is A Key Factor Driving Market Revenue Growth, Says Reports And Data

NEW YORK, Feb. 9, 2022 /PRNewswire/ -- The global thermal spray coatings market size is expected to reach USD 21.96 Billion in 2030 and register a revenue CAGR of 7.3% during the forecast period, according to the latest report by Reports and Data. Rapid technological developments in coating, as well as growing demand for innovative and superior coating methods, are driving the demand for thermal spray coating from numerous end-use industries such as medical, automotive, and aerospace, among others and hence are expected to fuel market revenue growth. Automotive industry is witnessing rapid advancements across the globe with changing vehicle standards and manufactures are focused on delivering better quality vehicles. Thermal spray coating is widely used in major vehicle components to extend the life cycle of products such as piston rings, cylinder liners, synchronizing rings, crankshaft repairs, exhaust pipes, turbochargers, and so on.

Thermal spraying processes have been widely used on medical devices for a variety of purposes, including biological binding, surface roughening, and chemical composition resemblance to bone minerals. To bring a thermal spray coated product to the U.S. market, the Food and Drug Administration (FDA) generally requires a pre-market review of the coated product. Although various thermal spray technologies and materials have been used for medical device coatings, the FDA has commonly observed this spraying process on orthopedic devices to include hydroxyapatite (HA) and plasma-sprayed titanium coatings, as well as dual Ti / HA coatings. The coated tools are primarily made of metal alloys such as titanium alloy, cobalt-chrome alloy, stainless steel alloys, and some polymers such as polyetherketone. Furthermore, thermal spray coatings can help improve abrasion resistance and biocompatibility in the biomedical and medical device industries, as well as implant dentures.

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Some Key Highlights From the Report

• Metals segment is expected to expand at a significant revenue CAGR during the forecast period. The increasing scope of use in the automotive sector, where thermal spray coatings give external protection to automotive parts, is responsible for the segment revenue growth. Furthermore, rising automotive production is expected to fuel segment revenue growth during the forecast period. Metal thermal spray coating is also used on new bridges to protect the structure from corrosion.
• Combustion flame spraying is a method of applying thermal spray coating using an oxy-acetylene flame. The heat from the flame dissolves the coating material and the compressed air propels it onto the sprayed product. Flame spraying is a low-cost technology that is increasingly being utilized to protect surfaces from corrosion and improve their performance. Aluminum, zinc, stainless steel, bronze, low carbon steel, nickel-based materials, and molybdenum are materials used in this process.
• Automotive segment is expected to grow at a rapid rate during the forecast period. Product demand is driven by demand for high-quality components, durability, and dependability. Improving the low-cost base material life cycle through advanced functional surfaces is becoming increasingly important in the automotive industry.

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• Market in Asia Pacific is expected to register a considerable revenue growth rate in the global thermal spray coatings market during the forecast period. Rising disposable income, rising usage in healthcare industry, increased oil and gas exploration, and stringent government regulations are major factors driving the market growth in this region. Furthermore, growth of manufacturing industry in the region will increase demand for thermal spray coatings. Rising investments in the defense sector is also expected to act as a key driving factor for the thermal spray coatings market growth in the region.
• Major companies profiled in the market report are Praxair Surface Technologies, Inc., Bodycote plc, H.C. Starck GmbH, Arc-Spray (Pty) Ltd, C&M Technologies GmbH, AMETEK, Inc., BryCoat Inc., Montreal Carbide Co. Ltd., Powder Alloy Corporation, and John Wood Group plc.

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For the purpose of this report, Reports and Data has segmented the global thermal spray coatings market based on materials, process, application, and region.

• Materials Outlook (Revenue, USD Billion; 2018-2030)
• Ceramics
• Metals
• Alloys
• Intermetallic
• Polymers
• Others
• Process Outlook (Revenue, USD Billion; 2018-2030)
• Combustion Flame Spraying
• Cold Spraying
• Plasma Spraying
• High-Velocity Oxy-Fuel (HVOF) Spraying
• Electric Arc Spraying
• Others
• Application Outlook (Revenue, USD Billion; 2018-2030)
• Aerospace
• Healthcare
• Agricultural Machinery
• Automotive
• Electronics
• Energy & Power
• Others
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• Regional Outlook (Revenue, USD Billion; 2018-2030)
• North America
  a. U.S.
  b. Canada
  c. Mexico
• Europe
  a. Germany
  b. U.K.
  c. France
  d. Italy
  e. Spain
  f. Sweden
  g. BENELUX
  h. Rest of Europe
• Asia Pacific
  a. China
  b. India
  c. Japan
  d. South Korea
  e. Rest of APAC
• Latin America
  a. Brazil
  b. Rest of LATAM
• MEA
  a. Saudi Arabia
  b. UAE
  c. South Africa
  d. Israel
  e. Rest of MEA

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