The Thermal Spray Coatings Market is expected to grow from USD 7.6 billion in 2020 to USD 10.7 billion by 2025, at a CAGR of 7.0%.
The growth of the thermal spray coatings market is attributed towards increasing consumption of thermal spray coatings from aerospace, automotive and other end-use industries.
However, lack of knowledge and technical skills is restraining the growth of thermal spray coatings market.
Additionally, recent outbreak of Covid-19 has resulted in shutting of manufacturing facilities across the globe which will have severe effect on the Thermal spray coatings market.
The ceramics material is projected to have the highest share during the forecast period.
Based on materials, the thermal spray coatings market has been segmented into ceramics, metals & alloys, and others (carbides, composites and polymers).
Ceramics material is projected to have largest share in the thermal spray coatings market during the forecast period.
The growing demand for ceramics is attributed towards its properties such as thermal resistance, corrosion resistance and other.
Moreover, the cost efficiency of ceramics is contributing to the growth of this material.
Aerospace industry is projected to register the highest CAGR, in terms of value, in the thermal spray coatings market during the forecast period.
Based on end-use industry, the thermal spray coatings market has been segmented into aerospace, automotive, healthcare, agricultural machinery, energy & power, electronics and others.
Among these aerospace industry is projected to have largest share in the market during the forecast period.
There is a boom in aerospace industry due to demand backlog which is almost equal to 10 years.
Automotive is another big industry which consumes thermal spray coatings.
Moreover, increasing automotive production in many regions is expected to drive the growth of thermal spray coatings market.
Healthcare industry is the major consumer of thermal spray coatings market.
North America to lead Thermal Spray Coatings market during the forecast period.
The thermal spray coatings market has been studied for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is the largest consumer of thermal spray coatings market.
The global thermal spray coatings market has witnessed a significant growth.
This created huge opportunities for the consumption of thermal spray coatings in North America.
Urbanization, modernization, technological advancement and increase in personal disposable income of the consumers in this region is also driving the use of thermal spray coatings in various end-use industries such as aerospace, automotive, healthcare and others.
Praxair Surface Technologies, Inc (US), BodyCote (UK), Oerlikon Metco (Switzerland), Surface Technology (UK), H.C Starck Gmbh (Germany), F.W. Gartner Thermal Spraying (US), Arc Spray (Pty) Ltd (South Africa), Metallisation Limited (UK), Plasma-Tec, Inc. (US), C&M Technologies GmbH (Germany), AMETEK Inc. (US), Flame Spray SpA (Italy), BryCoat Inc. (US), Thermal Spray Technologies, Inc. (tst) (US) are the key players operating in the thermal spray coatings market.
For more information, visit www.marketsandmarkets.com