Sellbyville, Delaware, Feb. 13, 2018 (GLOBE NEWSWIRE) —
Thermal Spray Coating Market is set to surpass USD 13 billion by 2024; according to a new research report by Global Market Insights, Inc. Strong application outlook in medical devices, gas turbines and aerospace & automotive components, due to superior corrosion & wear resistance and cost-effective properties will drive thermal spray coating market size. Increasing preference for HVOF process over hard chromium plating due to relatively shorter processing time and comparatively lesser environmental impact are among key factors fueling industry growth.
Shifting manufacturer focus for superior surface properties to extend equipment service life has enhanced the product demand. Increasing R&D investments for advanced solutions development to improve machinery productivity, performance and overall durability will support industry growth.
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Rising demand for dimensional restoration, using as thermal barriers, electrical conductors and electromagnetic shielding will propel the flame spray coating demand. Moreover, ability to recoat damaged or worn substrates in several end-use industries including energy & power, marine and aerospace industry will provide positive outlook for product demand.
Aerospace & defense market generated over 2.5 billion business in 2016. Rising demand from aerospace components including jet engines, turbine blades and landing gears owing to excellent heat barrier, wear & oxidation resistance and effective protection will drive product demand. Moreover, reduced maintenance cost, improved fuel efficiency and high speed of aircraft engines provides positive outlook for industry growth.
Fluctuating metal & mineral prices along with alloy material innovations are among key factors influencing flame spray coating price trend. Line-sight-coating causing reduced reach in deep and small cavities may hamper product demand, as it increases porosity on the surface. Moreover, low degree of adhesion particularly for small substrates may hinder industry growth.
Healthcare market is anticipated to witness growth over 7% in terms of revenue up to 2024. Effective retard from radiation along with shielding from electromagnetic waves particularly for MRI and other magnetic based medical equipment will create new opportunities for industry growth.
Browse key industry insights spread across 550 pages with 452 market data tables & 21 figures & charts from this 2018 report Thermal Spray Coating Market in detail along with the table of contents:
Ceramic flame spray coating market accounted for more than 30% of the industry share in 2016. Higher demand from aerospace and electronics industry due to its high heat and corrosion resistance will fuel industry demand. Moreover, low friction, superior hardness, ductility, along with superior surface finish will support product demand.
Combustion flame demand is expected to surpass 600 kilo tons by 2024. Increasing adoption for larger substrate applications particularly in oil & gas and aerospace industry are among major factors driving industry demand. Emergence of advanced technologies with improved performance including HVOF and HVAF process will support business growth.
Global thermal spray coating market was led by North America accounting for more than 30% in 2016. Presence of major aerospace and automotive companies along with comparatively higher adoption of flame spray coating will propel regional demand.
Global flame spray coating market share is moderately consolidated with top three players accounting for more than 30% of the industry share. Oerlikon Metco, Praxair Surface technologies, H.C. Starck, A & A Coatings and Bodycote are among major industry players. Collaborations, joint ventures and long-term agreements among different participants across the value chain are major strategies observed.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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