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Thermal Spray Coatings Market | Unveiling Industry Trends, Innovations, and Strategic Insights

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Steve Anderson
Thermal Spray Coatings Market | Unveiling Industry Trends, Innovations, and Strategic Insights

The global thermal spray coatings market size is expected to reach USD 14.63 billion by 2030, registering a CAGR of 4.8% from 2024 to 2030, according to a new study by Grand View Research, Inc. The global market growth is attributed to the developments in aerospace, automotive, industrial gas turbines, oil & gas, steel, printing, and medical applications. The thermal spray coatings provide electrical/thermal conductivity, enhanced wear resistance, lubricity, chemical resistance, heat resistance, and corrosion resistance to the machine parts. Most of the machine parts are of high value, whose frequent replacement is uneconomical and leads to high costs for the end-user industries.

Thermal Spray Coatings Market Report Highlights

·        Ceramics material segment dominated the market with a revenue share of over 31.0% in 2023. This is attributed to the fact that ceramic coatings have excellent adhesion property, which helps them adhere to the surface and provide a thermal barrier, corrosion protection, dielectric strength, and sliding wear resistance to the coated materials.

·        Plasma spray technology segment dominated the market with a revenue share of over 32.0% in 2023. This process provides the advantage of spraying ceramic and metallic materials onto various surfaces with excellent bond strength while minimizing substrate distortion on both large and small components.

·        Aerospace in the application segment dominated the market with a revenue share of over 32.0% in 2023. This is attributed that the parts in an aircraft are prone to degradation owing to particle erosion, hot corrosion, metal-to-metal wear, and fretting.

·        North America dominated the market with a revenue share of over 28.0% in 2023. This is attributable to North America's demand for thermal spray coatings, driven by the growing demand from key industries, including aerospace, oil & gas, automotive, medical, and power generation.

·        Companies are also engaged in partnerships and acquisitions, new product launches, and geographical expansions to gain a competitive edge in the market. For instance, in May 2023, Kymera International completed the acquisition of Thermal Spray Solutions (TSS) to strengthen its position in the thermal spray coatings market

For More Details or Sample Copy please visit link @: Thermal Spray Coatings Market Report

For example, drilling bits used in mining and offshore drilling operations have to endure the impact of hard terrains and the reaction of undersurface chemicals. The thermal spray coatings provide the required corrosion and wear resistance, which is vital in operations of this magnitude, and can expect a growing consumption due to an increase in metal demand from the automotive and electronics sector. Key manufacturers enter into technological collaborations to enhance the current technologies for better market positioning. For instance, in April 2020, ASB Industries collaborated with the University of Nevada and Akron to develop double-layer coatings on magnesium.

The company’s current cold-sprayed aluminum coatings on magnesium alloys are highly susceptible to localized corrosion in chloride-containing solutions. The ongoing development of a titanium-aluminum coating layer on magnesium raises micro-hardness, thus lowering the wear rate. Such technological collaborations can increase product demand over the coming years. Players in the market are also investing in expanding their manufacturing capabilities. For instance, in March 2021, Oerlikon Metco Coating Services established a world-class additive manufacturing facility in Huntersville, a suburb of Charlotte, North Carolina, to add thermal spray and laser cladding capabilities under one roof.

Gain deeper insights on the market and receive your free copy with TOC now @: https://www.grandviewresearch.com/industry-analysis/thermal-spray-coatings-market/request/rs15

We segmented the global thermal spray coatings market report based on material, technology, application, and region.

Thermal Spray Coatings Material Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

·        Metals

·        Ceramics

·        Intermetallics

·        Polymers

·        Carbides

·        Abradables

·        Others

Thermal Spray Coatings Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

·        Cold Spray

·        Flame Spray

·        Plasma Spray

·        HVOF

·        Electric Arc Spray

·        Others

Thermal Spray Coatings Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

·        Aerospace

·        Industrial Gas Turbine

·        Automotive

·        Medical

·        Printing

·        Oil & Gas

·        Steel

·        Pulp & Paper

·        Others

For Customized reports or Special Pricing please visit @: https://www.grandviewresearch.com/checkout/select-license/thermal-spray-coatings-market

Research Methodology

We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.

 

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

 

Contact:

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll-Free: 1-888-202-9519

Email: [email protected]

Web: https://www.grandviewresearch.com


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