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.
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
Identify the latest developments, market shares, and strategies employed by the major market players
3 months analyst support, along with the Market Estimate sheet (in Excel)
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1.1 Scope of the Report
1.2 Market Definition
1.3 Study Assumptions
1.4 Study Deliverables
1.5 Research Phases
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness √ź Porter√ēs Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Intensity of Competitive Rivalry
4. Market Dynamics
4.1.1 Expanding Automotive Manufacturing Sector in the Asia-Pacific Region
4.1.2 Rising Popularity of Thermal Spray Ceramic Coatings
4.1.3 Other Drivers
4.2.1 Emergence of Hard Trivalent Chrome Coatings
4.2.2 Other Restraints
4.3.1 Growing Application in the Oil & Gas Industry
4.3.2 Advancements in Spraying Technology
5. Market Segmentation and Analysis (Market Size, Growth and Forecast)
5.1 By Product
5.2 By Process
5.2.1 Flame Spray
5.2.2 Powder Spray
5.2.3 Arc Spray
5.2.5 High-velocity, oxy-fuel (HVOF)
5.3 By Application
5.3.4 Paper & Pulp
5.3.5 Oil & Gas
6. Regional Market Analysis (Market Size, Growth, and Forecast)
6.1.4 South Korea
6.1.5 Australia & New Zealand
6.1.6 Rest of Asia-Pacific
6.2.4 United Kingdom
6.2.6 Rest of Europe
6.3 North America
6.3.1 United States
6.3.4 Rest of North America
6.4 South America
6.4.3 Rest of South America
6.5 Middle-East & Africa
6.5.1 South Africa
6.5.2 Saudi Arabia
6.5.3 Rest of Middle-East & Africa
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
8.1 A&A Company Inc.
8.2 Air Products & Chemicals
8.3 ASB Industries Inc.
8.4 Bodycote Plc
8.5 Cincinnati Thermal Spray, Inc.
8.6 Flame Spray Coating Co.
8.7 H.C. Starck Inc.
8.8 MesoCoat Inc.
8.9 Metallisation Ltd.
8.10 Metallizing Equipment Co. Pvt. Ltd
8.11 Oerlikon Group
8.12 Praxair Surface Technologies
8.13 Precision Coatings, Inc.
8.15 TST Engineered Coating Solutions
8.16 TWI Ltd
*List not exhaustive
** Subject to availability on public Domain
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.