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Thermal Spray Materials Market to Reach $2,869.2 Million by 2024

Published Date:   December 2018

Thermal spray materials market is projected to reach $2,869.2 million by 2024, according to P&S Intelligence.

The market growth is driven by the increasing requirement of thermal sprays for coating components, which are vulnerable to corrosion, erosion, and extremely high temperature and pressure conditions.

Thermal spray materials market

Insights into market segments

Based on type, the thermal spray materials market is characterized into powder and wire/rod. Wire/rod category is estimated to account for larger share in 2018. High demand for wire/rod is driven by the fact that by using wire/rod, only the molten droplets are propelled toward the substrate, thereby minimizing wastages. Another advantage of this category is that the flame coming out of nozzle of spraying machine is concentric with the wire/rod, which ensures uniform heating for proper spraying of material.

Based on end-use industry, the thermal spray materials market is categorized into automotive, aerospace, industrial gas turbines, energy and power, electronics, oil and gas, medical devices, and others. The others category includes adoption of thermal sprays in equipment and devices that are engaged in textile manufacturing, rubber manufacturing, food processing, mining, and industrial manufacturing industries. Globally, aerospace is estimated to account for the largest share in the market, contributing more than 35.0% share in 2018.

Aerospace and aviation components often get exposed to harsh environmental conditions, such as extreme heat and pressure. Thermal spray materials, thus, help in protecting these components from high wear and heat. Moreover, application of thermal spray powder over these components results in reduced maintenance cost, enhanced performance, and higher fuel efficiency. Thus, it can be inferred that growing production of aircraft is expected to boost the thermal spray materials market in the near future.

Browse report overview with 109 tables and 62 figures spread through 167 pages and detailed TOC on "Thermal Spray Materials Market by Type (Powder [Metal-Based {Pure Metal & Alloy, MCrAlY Alloy, Precious Metal}, Ceramic-Based {Ceramic Oxide, Cermets, Carbides}, Polymer & Other Material-Based], Wire/Rod), by End-Use Industry (Automotive, Aerospace, Industrial Gas Turbines, Energy & Power, Electronics, Oil & Gas, Medical Devices), by Geography (U.S., Canada, Germany, France, U.K., Italy, China, Japan, India, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, South Africa) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2014–2024" at:https://www.psmarketresearch.com/market-analysis/thermal-spray-materials-market

North America is estimated to be the largest regional market for thermal spray materials in 2018

North America is estimated to account for the largest share in the market in 2018, with more than 35.0% revenue share. The thermal spray materials market in North America is majorly driven by the presence of large civil and military aircraft manufacturers in the region, such as The Boeing Company, Lockheed Martin Corporation, and Bombardier Inc., which continue to generate high demand for thermal spray coatings to protect automotive components from wear and corrosion.

Advancements in spray technology and increasing adoption of cold spray process to serve as lucrative market opportunity

Kinetic spraying also known as cold gas dynamic spraying is one of the novel spray methodologies to be developed. In this process, solid particles impact on substrate at high velocities to form coatings at the surface of the substrate. The process is highly favorable due to its ability to exhibit a deposition efficiency of 90%, and compatibility with metals and alloys of titanium and nanocrystalline materials. With the advent of technological advancements in spray technology such as non-destructive testing (NDT), and low cost of the process are likely to incentivize adoption of the cold spray process, leading favorable growth opportunities in the thermal spray materials market.

Thermal Spray Materials Market Competitive Landscape

Majority of companies engaged in the thermal spray materials market are forward-integrated to provide coating solutions in the form of technologies, equipment, and services. Besides, these players have differentiated clients and customers in the aerospace, automotive, medical, oil and gas, and marine industries.

The global thermal spray materials market is majorly dominated by multinational corporations including OC Oerlikon Corporation AG, Praxair S.T. Technology Inc., H.C. Starck GmbH, Kennametal Inc., and Höganäs AB.

Carpenter Technology Corporation, AlSher APM, AMETEK Inc., C&M Technologies GmbH, Bay State Surface Technologies Inc. (Aimtek Inc.)Powder Alloy Corporation, Sandvik AB, and Saint-Gobain A.G. are other key players accounting for a significant share in the thermal spray materials market.

GLOBAL THERMAL SPRAY MATERIALS MARKET SEGMENTATION

By Type

  • Powder
    • Metal-based
      • Pure metal and alloy
      • MCrAlY alloy
      • Precious metal
  • Ceramic-based
    • Ceramic oxide
      • Alumina
      • Chromia
      • Titania
      • Zirconia
      • Others
    • Cermets
    • Carbides
  • Polymer and other material-based
  • Wire/Rod

By End-Use Industry

  • Automotive
  • Aerospace
  • Industrial Gas Turbines
  • Energy and Power
  • Electronics
  • Oil and Gas
  • Medical Devices
  • Others

By Geography

  • North America Thermal Spray Materials Market
    • By type
    • By end-use industry
    • By country – U.S. and Canada
  • Europe Thermal Spray Materials Market
    • By type
    • By end-use industry
    • By country – Germany, France, U.K., Italy, and Rest of Europe
  • Asia-Pacific (APAC) Thermal Spray Materials Market
    • By type
    • By end-use industry
    • By country – China, Japan, India, South Korea, and Rest of APAC
  • Latin America (LATAM) Thermal Spray Materials Market
    • By type
    • By end-use industry
    • By country – Brazil, Mexico, Argentina, and Rest of LATAM
  • Middle East and Africa (MEA) Thermal Spray Materials Market
    • By type
    • By end-use industry
    • By country – Saudi Arabia, South Africa, and Rest of MEA