Thermal Spray Market: Research Strategies with Share Analysis, Top Key Players with Opportunities Forecast to 2027

Growing production from end use industries like aerospace and automotive industry in order to meet the growing consumer demand couple with to reduce the facility operational cost by cutting down the cost of replacement and increase the lifetime of component in order to improve or stabilize the profit margin is driving the market of thermal spray. Further, in the light of COVID-19, failure of healthcare infrastructure had been witnessed across the globe. Therefore, increasing focus of governments across the globe on improving the healthcare infrastructure is further expected to increase the demand of thermal spray coatings and equipment’s.?

In the light of COVID-19, global thermal spray market witnessed negative impact on account of halted production activities in aerospace and automotive industries. For instance, the globe automobile production declined by around 16% in 2020. Further, halted supply chain created difficulty in the procurement of coating materials, thus affected the businesses operation.

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According to UnivDatos Market Insights (UMI)’ research report “Global Thermal Spray Market”, the market is expected to showcase growth of ~5% during the forecast period 2021-2027F. Increasing adoption of thermal spray in developing economies, growing demand from the healthcare industry, and growing aerospace industry are some of the key attributable factors for the growth of the market.?

Based on product type, the market is categorized into coating and equipment. Of both, coating held the prominent share in the market and is likely to showcase substantial growth during the forecast period. Compared to equipment which has one time cost excluding component replacement and repair cost, demand of coating materials is continuously growing owing to increasing production from end use industry like aerospace, automotive, and healthcare industry. Further, increasing focus of companies on premium quality coating materials is further propelling the market growth?

Based on thermal spray equipment type, the market is categorized into thermal spray coating system, dust collector, spray gun & nozzle, feeder, and others. Among these, thermal spray coating system held the significant share in the market owing to its high cost. The whole thermal spray coating system is comprised on numerous small and large components which makes the cost of whole system high. For instance, it consist of process control console or similar devices for controlling the gases, liquids and electrical current used by the thermal spray process.?

North America held considerable portion of the pie in 2020

Based on region, the report provide detail analysis for overall adoption of Thermal Spray in major region including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. North America held the considerable market share in the global thermal spray equipment and coating market due to its vast aerospace, automotive, and healthcare industry couple with high awareness among companies regarding the benefits of thermal spray coating over other processes like PVD, CVD, baked polymers, hard chromium plate, weld overlay, galvanize, and braze overlay. In addition, presence of some of the largest aerospace companies in the region like Lockheed Martin and The Boeing Company is further increasing the demand of thermal spray, as these companies are trying to reduce their aircraft backlogs by taking various strategic initiative, thus the demand of thermal spray coating and equipment is increasing in the region. For instance, in July 2021, Lockheed Martin announced that the company opens its Spacecraft Test, Assembly and Resource (STAR) Center. The STAR Center features business and digital transformation innovations that will expand manufacturing, assembly, and testing capacity for NASA's Orion spacecraft program and ultimately, future space exploration.?

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Thermal Spray market are Linde plc, Bodycote plc, Oerlikon Metco, Surface Technology, H.C Starck GmbH, AMETEK Inc., F.W. Gartner Thermal Spraying, Flame Spray S.p.A., Kennametal Inc., and C&M Technologies GmbH. These companies are taking several strategic decisions to increase their market share and revenue.

Some of the instances are:

§?In April 2020, Bodycote plc announced the completion of the acquisition of Ellison Surface Technologies. The acquisition creates one of the largest providers of thermal spray and engineered coating surface technology services in the world.

“Global Thermal Spray Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.??????

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Market Segmentation:

1.?????By Product Type {Coating [Material (Ceramic, Metals & Alloys, and Others), Process (Combustion Flame and Electrical)], Equipment (Thermal Spray Coating System, Dust Collector, Spray Gun & Nozzle, Feeder, and Others)}

2.?????By Industry (Aerospace, Automotive, Healthcare, Agricultural Machineries, Energy & Power, Electronics, and Others)

3.?????By Region (North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World)

4.?????By Company (Linde plc, Bodycote plc, Oerlikon Metco, Surface Technology, H.C Starck GmbH, AMETEK Inc., F.W. Gartner Thermal Spraying, Flame Spray S.p.A., Kennametal Inc., and C&M Technologies GmbH)

Key questions answered in the study:

1.?????What are the current and future trends of the global Thermal Spray industry?

2.?????How the industry has been evolving in terms of product type and industry?

3.?????How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.?????What are the key growth drivers and challenges for the global Thermal Spray industry?

5.????What are the customer orientation, purchase behavior, and expectations from the global Thermal Spray suppliers across various region and countries?