Shielding the Future: Unveiling Growth Opportunities in the Booming Thermal Spray Coatings Industry

Recent Developments in Thermal Spray Coatings Market Industry

• ·????????In March 2020, Praxair ST Technology, Inc. agreed with Seimens Gas and Power that aerospace and industrial gas turbines components such as blades, vanes, casings, and discs will be coated by PST’s aluminizing, platinum aluminizing, slurry, and thermal spray processes.
• ·????????In March 2021, Oerlikon Metco announced the expansion of its manufacturing facility in Huntersville, North Carolina. This expansion intends to offer pre- and post-coating inspection and machining services.
• ·????????In October 2019, Surface Technology announced acquiring a business division of UK-based coating and engineering company Norman Hay plc to strengthen its position in the thermal spray coating market.
• The thermal spray coatings market is projected to grow from USD 10.4 bllion in 2023 to USD 14.3 billion by 2028, at a CAGR of 6.5% from 2023 to 2028. With growing environmental concerns, there is an increasing demand for sustainable and environmentally friendly coating solutions. Thermal spray coatings often offer low VOC emissions, recyclability, and reduced waste generation compared to traditional coating methods, making them attractive for eco-conscious industries. This factor contributes to growing the thermal spray coatings market.

The combustion flame segment, by process of the thermal spray coatings market, is projected to be the most significant segment from 2023 to 2028. The combustion flame process is versatile and can be used with various coating materials, including metals, alloys, ceramics, and composites. This flexibility allows for a wide range of coating options, each with unique properties suitable for different applications. The process can be adapted to meet specific requirements, such as selecting the optimal fuel and controlling flame parameters to achieve desired coating characteristics. These factors are expected to enhance the demand for the segment during the forecast period.

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Browse?266 market data Tables and?40 Figures spread through?240 Pages and in-depth TOC on "Thermal Spray Coatings Market by Materials (Ceramics and Metals & Alloys), Process (Combustion Flame and Electrical), End-Use Industry (Aerospace, Automotive, Healthcare, Agriculture, Energy & Power and Electronics) and Region - Global Forecast"?

The ceramics segment, by the material of the thermal spray coatings market, is projected to be the most significant segment from 2023 to 2028. Ceramic coatings are known for their excellent thermal stability and resistance to high temperatures. They can withstand extreme heat, making them suitable for applications in gas turbines, exhaust systems, aerospace engines, and other high-temperature environments. These factors are expected to boost the demand for the segment during the forecast period.

By the end-use industry of the thermal spray coatings market, the aerospace segment is projected to be the most significant segment from 2023 to 2028. Thermal spray coatings on aircraft structures protect against corrosion and enhance the durability of components exposed to harsh environments. For example, coatings are applied to the exterior surfaces, such as wings, fuselage, and tail, to protect against atmospheric corrosion, erosion, and abrasion caused by wind, rain, and debris.

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North America is projected to be the most significant market for thermal spray coatings during the forecast period. Stringent environmental regulations in North America promote using environmentally friendly layers with low VOC emissions and reduced environmental impact. Thermal spray coatings are often favored due to their ability to provide durable and eco-friendly solutions, aligning with sustainability goals and compliance with environmental regulations.

Major players operating in the thermal spray coatings market include Praxair ST Technologies, Inc. (US), H.C Starck Gmbh (Germany), Bodycote (UK), and Oerlikon Metco (Switzerland). These companies have reliable manufacturing facilities and strong distribution networks across critical regions like North America, Europe, and Asia Pacific. They have an established portfolio of reputable products and services, a robust market presence, and strong business strategies. Furthermore, these companies have a significant market share, products with more comprehensive applications, and broader geographical use cases.