IMARC Group, a leading market research company, has recently released a report titled “Thermal Spray Coating Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global thermal spray coating market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What Are The Growth Prospects Of The Thermal Spray Coating Industry?
According to the report, The global thermal spray coating market size reached US$ 9.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.4 Billion by 2028, exhibiting a growth rate (CAGR) of 7.3% during 2023-2028.
What is Thermal Spray Coating?
Thermal spray coating is an industrial process to apply coating on materials for enhancing the thermal barrier properties of the surface. The process involves the use of a source of heat and powder coating substances that are melted and sprayed on the material surface at high velocity. This process is widely utilized in the production of moving and rotating parts of machines, such as ships, pumps, electric motors, aerospace turbine systems and quarrying machinery, as it aids in improving the friction while extending the life span of the machine.
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What are the growth prospects and trends in the Thermal Spray Coating industry?
The global market is primarily driven by a substantial increase in the adoption of heavy machines by various industries. Moreover, the rising usage of thermal spray coating in aerospace and automotive industries to coat engine turbine blades, piston, and synchronizer rings in order to provide a protective layer from extreme temperature changes is creating a positive outlook for the market. Along with this, it is also used as a preferred alternative to electroplating and ion implantation as the process is relatively less toxic and provides excellent corrosion resistance. Some of the other factors contributing to the market growth include rapid industrialization, especially in the emerging economies, and extensive research and development (RD) activities conducted by key players.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
Breakup by Technology:
- High-Velocity Oxy-Fuel (HVOF)
- Electric Arc
Breakup by Application:
- Industrial Gas Turbine
- Oil and Gas
- Pulp and Paper
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Air Products and Chemicals Inc.
- American Roller Company LLC
- Durum Verschleissschutz GmbH
- Lincotek Rubbiano S.p.A
- Metallizing Equipment Co. Pvt. Ltd.
- Montreal Carbide Co. Ltd.
- Powder Alloy Corporation
- Praxair Surface Technologies Inc. (Linde plc)
- Progressive Surface Inc.
- Wall Colmonoy Corporation.
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