Sarasota, FL, April 10, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Thermal Spray Coating Market (Polymer, Ceramic, Metal and Others) for Automotive, Aerospace, Industrial Gas Turbine and Other Applications: Global Market Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global thermal spray coating market was valued at USD 8.53 billion in 2016 and is expected to reach USD 13.61 billion in 2022, growing at a CAGR of 8.1% between 2017 and 2022.
Thermal spray coating process involves the formation of substrates in molten and semi-molten form. This coating offers thick coating surface to the end applications. It also offers resistance to heat, corrosion, erosion and wears. Comparatively, the thermal spray coating is widely used in automotive and aerospace industry. Moreover, it is expected to witness the strong growth within the forecast period.
Browse through 23 Market Tables and 24 Figures spread through 110 Pages and in-depth TOC on “Global Thermal Spray Coating Market Size & Share: Industry Analysis and Forecast 2016 – 2022”.
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Growing demand for thermal spray coating in industries such as automotive and aerospace across the globe is a major driving force of the global thermal spray coating market. Rising demand for thermal spray coating from the medical sector is also expected to boom the market size in the coming years. However, volatility in raw material prices is a major restraint of the market. Furthermore, untapped markets in developing countries are likely to provide new avenues to the key players in the market within the forecast period.
Ceramic was the leading product of the global thermal spray coating market in 2016. It accounted for more than 25% share of the total market in 2016 and furthermore, it is estimated to grow at a significant CAGR within the forecast period. This growth is attributed to the ability to efficiently counter the complex geometric shapes of the workpieces. Ceramic was followed by metal in the same year. Moreover, the polymer is likely to witness moderate growth during the years to come.
Browse the full "Thermal Spray Coating Market (Polymer, Ceramic, Metal and Others) for Automotive, Aerospace, Industrial Gas Turbine and Other Applications: Global Market Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022" report at https://www.zionmarketresearch.com/report/thermal-spray-coating-market
Aerospace was one of the foremost applications of the global thermal spray coating market and it accounted for above 32% share of the entire market in 2016. New developments and increasing investments for aerospace especially in North America and Asia Pacific are predicted to witness the lucrative growth of thermal spray coating market during the forthcoming years. The industrial gas turbine was the second largest segment of the market and it is also predicted to be the fastest-growing segment of the market over the next few years. The automotive industry is also expected to experience the moderate growth of the market in the coming years.
North America was the most attractive market for the global thermal spray coating market in 2016. The key revenue contributing countries in the region are the U.S. and Canada. Moreover, new inventions and growing aerospace in the region is expected to bolster the market size during the forthcoming years. Growing demand for locomotives and other aerospace elements is expected to fuel the demand for thermal spray coating in the region during the years to come.
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Europe was the second largest market of thermal spray coating in 2016. However, Europe is likely to witness the significant growth due to the growing aerospace and automotive industries in UK, Germany, Spain and Italy. Moreover, new product launches especially in the automotive industry in the region is expected to accelerate the future opportunities for players of thermal spray coating industry during the next few years.
Asia Pacific is expected to the fastest growing market of thermal spray coating within the forecast period. This region is likely to gain significant share during the forecast period owing to the rise in manufacturing activities in countries such as Japan, China, and India. The rise in foreign investments and favorable government policies in these countries is likely to drive the demand for thermal spray coating in industrial gas turbines and aerospace industries. Additionally, growth in this market is likely to fuel due to the escalating vehicle productions in the near future.
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Latin America is expected to experience a moderate growth of thermal spray coating market in the coming years. The major countries contributing to the automotive market were Brazil, Argentina, and Columbia. The major vehicle-producing nation in the Latin American region is Brazil. This growth can mainly be attributed to the growth in demand for thermal spray coating in the region. The Middle East and Africa is poised to witness sluggish growth in demand for thermal spray coating within the forecast period. Emerging automotive industry in the region may offer the moderate demand for thermal spray coating in the region during the coming years.
Some of the major players involved in the global thermal spray coating market are Air Products & Chemicals, Praxair Surface Technologies, Flame Spray Coating Company, Abakan Inc., TST Engineered Coating Solutions, Sulzer Ltd, ASB Industries, Inc., Plasma-Tec, Inc., Oerlikon Group, Metallisation Ltd., Surface Technology, and Bodycote plc among others.
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The report segments the global thermal spray coating market as follows:
Global Thermal Spray Coating Market: Product Analysis
- Polymer
- Ceramic
- Metal
- Others
Global Thermal Spray Coating Market: Application Analysis
- Automotive
- Aerospace
- Industrial Gas Turbine
- Others
Global Thermal Spray Coating Market: Region Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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