Mordor Intelligence releases their report on the Global Thermal Spray market. The report discusses thermal spray process and studies its markets segmented by:
Thermal spray is a coating process that applies thick coatings to a substrate by spraying heated materials over its surface. These methods include HVOF spraying, plasma spraying, arc spraying and flame/combustion spraying. Thermal spray coatings are majorly used in the aerospace, industrial gas turbines, electronics and automotive sectors. Thermal spray coatings primary markets are developed countries across the world. However, developing countries, such as China and India have shown tremendous growth due to their economic development.
The global thermal spray market is in its nascent stages; it is expected to grow until 2020. The thermal spray process market, accounting for revenues earned from coatings, materials, and equipment, is estimated to grow at a CAGR of 7.79% from 2015 to 2020. North America held the largest share of the global thermal spray market in 2015. The region is expected to witness moderate growth over the next five years, mainly fuelled by significant investments in the resurging aerospace manufacturing industry in the US.
Some of the major players in the global thermal spray market include Oerlikon Metco, H.C. Starck, Praxair Surface Technologies, A&A Coatings, Thermal Spray Technologies, and Treibacher Industrie AG.
The thermal spray coating process, since its introduction in the 20th Century, has witnessed significant success and finds extensive usage in the European and North American regions. This process is used for coating applications in the aerospace sector for components such as jet engine parts, landing gear and turbine blades. It also finds usage in components in the automotive sector, such as cylinders, engine parts, transmission parts, and suspension system parts: to enhance their wear and corrosion resistance powers, and longevity.
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