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Global Thermal Spray Coating Market to Grow at a CAGR of 6.06% During 2022-2027, Aided by the Rising Demand in the Automotive Industry

According to a new report by EMR titled, ‘Global Thermal Spray Coating Market Report and Forecast 2022-2027’, the market attained a value of around USD 8.97 billion in 2021. The industry is further expected to grow at a CAGR of 6.06% between 2022 and 2027 to reach a value of USD 12.75 billion by 2027.

The global thermal spray coating industry is being driven by the rising demand for thermal spray coating solutions in the automotive sector. Thermal spray coating mechanisms are utilised to coat cylinder rings, brake discs, and exhaust pipes, among others, which helps to prolong the life of automotive parts. Moreover, the increased usage of thermal spray coating in the medical and healthcare sector is also anticipated to aid the market growth. Thermal spray coating solutions are applied on medical implants such as knee or hip implants, as they provide abrasion resistance, high temperature resistance, and other benefits. Furthermore, the heightened demand for thermal spray coating solutions in the oil and gas, and agriculture industries, wherein the machinery is exposed to high levels of heat and harsh conditions, is anticipated to support the market growth in the coming years.

AMETEK, Inc. (NYSE: AME) has developed a range of hard facing powder alloy metal powders through the use of advanced high-pressure water atomisation technology. These coatings offer good machinability, abrasion resistance, ductility, corrosion resistance, and high strength, among others. The growing demand for coating solutions in a variety of end use industries is propelling the key market players to develop innovative thermal spray coating solutions. For instance, DuPont de Nemours, Inc. (NYSE: DD) provides thermal spray coating solutions for electronic devices such as smartphones, PCs, and tablets, among others. These coatings enhance the performance and durability of electronic devices. These aspects are expected to positively impact the thermal spray coating industry growth in the forecast period.

Market Breakup by Material, Process, End Use Industry, and Region:

  • The market is divided, based on material, into ceramics, metal and alloys, and others.
  • On the basis of process, the market can be distributed into flame spraying, arc spraying, plasma spraying, and high-velocity oxygen fuel (HVOF), among others.
  • The market is segmented, on the basis of end use industry, into automotive, aerospace, and industrial, among others.
  • Region-wise, the global market for thermal spray coating can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for thermal spray coating is being driven by the rising demand in the automotive industry.
  • The growing product demand in the major end use industries such as oil and gas, and agriculture has significantly contributed to the market expansion.
  • The expansion of the aerospace sector is also expected to enhance the demand for thermal spray coating for various aerospace applications.
  • The heightened expenditure by the leading market players in research and development activities to offer improved thermal spray coating solutions is further propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for thermal spray coating for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the materials, processes, end use industries, and major regions of thermal spray coating.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global thermal spray coating market are Dupont De Nemours, Inc., 3M Company, A&A Company, Inc., Morgan Advanced Materials PLC, and CoorsTek, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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