New Study: Thermal Spray Coatings Market Forecast By Product Segment, Application, Region and Industry Size 2019-2025
The global thermal spray coatings market size is anticipated to reach USD 14.99 billion by 2025, according to a new report by Radiant Insights, Inc. The market is projected to register a CAGR of 6.8% during the forecast period. Increasing product demand from the aerospace, industrial gas turbines, and a few other application industries is expected to propel market growth.Moreover, growing demand for corrosion-resistant coatings from these sectors is expected to be a key driver for the market. Thermal spraying is used to improve or restore the surface of a solid material.
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It can also be used to apply coatings to a wide range of components and materials for better provide resistance against cavitation, wear, abrasion erosion, heat, and corrosion. In addition, it is used to provide insulation or electrical conductivity, chemical resistance, lubricity, sacrificial wear, high or low friction, and several other desirable properties to the coated surface. These coatings have high-potential market opportunity on account of their properties, such as biocompatibility, cavitation resistance, and aesthetic appeal. Increasing oil & gas exploration activities, particularly in Asia Pacific, coupled with upcoming shale gas explorations across the globe are expected to fuel the demand further. There are several regulations governing the global market.
These regulatory standards define thermal-spray processes for machinery element repair of ferrous and non-ferrous substrates. Medical is expected to be the fastest-growing application segment on account of increasing application scope of thermal spray coatings in the biomedical sector. These coatings help extend the shelf life and improve performance of dental and orthopedic implants. Advantages of using such coatings in the biomedical sector include superior wear and corrosion resistance and bone bond enhancement. Asia Pacific is expected to be the fastest-growing regional market on account of increasing vehicle production along with rapid economic growth in China, India, Japan, Indonesia, South Korea, and Thailand.
Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/thermal-spray-coatings-market
Further key findings from the study suggest:
• Aerospace application segment led the thermal spray coatings market accounting for share of 32.29% in 2018 and is projected to maintain its dominance even during the forecast years
• The market in U.S. is anticipated to exceed USD 3.04 billion by 2025 owing to the presence of key manufacturers and suppliers in the country
• The global market is highly competitive with the presence of a number of global medium- and small-scale companies
• Prominent companies include Praxair Surface Technologies; H.C. Starck, Inc.; Wall Colmonoy; Powder Alloy Corp.; Carpenter Technology Corp.; Montreal Carbide Co. Ltd.; and Kennametal Stellite
• These companies have undertaken several strategies, such as merger & acquisition and product development, to expand their market reach and product portfolio
Read all Reports of this category @ https://www.radiantinsights.com/catalog/chemicals
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research reports, helping them in the decisions making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Media Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Phone: (415) 349-0054
Toll Free: 1-888-928-9744
Address: 201 Spear Street 1100, Suite 3036,
City: San Francisco; State: California; Country: United States
Email: sales@radiantinsights.com
Website: https://www.radiantinsights.com/
Download Free Sample Report @ https://www.radiantinsights.com/research/thermal-spray-coatings-market/request-sample
It can also be used to apply coatings to a wide range of components and materials for better provide resistance against cavitation, wear, abrasion erosion, heat, and corrosion. In addition, it is used to provide insulation or electrical conductivity, chemical resistance, lubricity, sacrificial wear, high or low friction, and several other desirable properties to the coated surface. These coatings have high-potential market opportunity on account of their properties, such as biocompatibility, cavitation resistance, and aesthetic appeal. Increasing oil & gas exploration activities, particularly in Asia Pacific, coupled with upcoming shale gas explorations across the globe are expected to fuel the demand further. There are several regulations governing the global market.
These regulatory standards define thermal-spray processes for machinery element repair of ferrous and non-ferrous substrates. Medical is expected to be the fastest-growing application segment on account of increasing application scope of thermal spray coatings in the biomedical sector. These coatings help extend the shelf life and improve performance of dental and orthopedic implants. Advantages of using such coatings in the biomedical sector include superior wear and corrosion resistance and bone bond enhancement. Asia Pacific is expected to be the fastest-growing regional market on account of increasing vehicle production along with rapid economic growth in China, India, Japan, Indonesia, South Korea, and Thailand.
Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/thermal-spray-coatings-market
Further key findings from the study suggest:
• Aerospace application segment led the thermal spray coatings market accounting for share of 32.29% in 2018 and is projected to maintain its dominance even during the forecast years
• The market in U.S. is anticipated to exceed USD 3.04 billion by 2025 owing to the presence of key manufacturers and suppliers in the country
• The global market is highly competitive with the presence of a number of global medium- and small-scale companies
• Prominent companies include Praxair Surface Technologies; H.C. Starck, Inc.; Wall Colmonoy; Powder Alloy Corp.; Carpenter Technology Corp.; Montreal Carbide Co. Ltd.; and Kennametal Stellite
• These companies have undertaken several strategies, such as merger & acquisition and product development, to expand their market reach and product portfolio
Read all Reports of this category @ https://www.radiantinsights.com/catalog/chemicals
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research reports, helping them in the decisions making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Media Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Phone: (415) 349-0054
Toll Free: 1-888-928-9744
Address: 201 Spear Street 1100, Suite 3036,
City: San Francisco; State: California; Country: United States
Email: sales@radiantinsights.com
Website: https://www.radiantinsights.com/
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