Market Size of Thermal Spray Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thermal Spray Coatings Market Analysis
The market for thermal spray coatings is expected to register a CAGR of more than 6% during the forecast period.
In 2020, COVID-19 severely impacted industry growth due to decreased aircraft production and raw materials shortage. However, the growing aerospace industry post-pandemic is expected to increase thermal spray coatings consumption.
- The extensive usage of thermal spray coatings in the aerospace sector increased usage in medical devices, and the rising popularity of thermal spray ceramic coatings primarily drives the market's growth.
- Stringent government regulations for thermal spray coatings and issues regarding process reliability and consistency will likely restrain the market growth.
- The increasing applications in the oil and gas industry, advancements in spraying technology, and recycling of thermal spray processing materials are expected to provide numerous opportunities for the manufacturers in the market studied.
- North America dominated the global spray coatings market due to increased application in the aerospace industry and medical devices.
