Global thermalspray coating market is
expected to reach USD 12.29 billion by 2022, according to a new study by Grand
View Research, Inc. Growing need for corrosion resistant coating in aerospace
and industrial gas turbines (IGT) is expected to fuel demand over the next
seven years.
“Automobile
Mission Plan” introduced by the Government of India in 2006 for a period of 10
years is expected to provide impetus to the automotive industry in turn
positively impacting demand over the forecast period.
Increasing
application scope in medical, textile, and paper industry on account of
superior properties such as enhanced traction, electrically conducive nature,
biocompatibility oxidation and cavitation resistance is expected to promote
market.
North
America and Europe are expected to witness substantial market growth in light
of increasing use in healthcare industry for the manufacturing of bioceramic
coating used in implants. These coating are both biocompatible and corrosion
resistant making them ideally suited for use in the application.
Replacement
of hard chrome by thermal spray coating in various aerospace and automotive
applications is expected to result in high growth over the forecast period.
Browse full report by
Grand View Research : http://www.grandviewresearch.com/industry-analysis/thermal-spray-coatings-market
Further key findings from the study suggest:
·
Ceramics are expected to be the fastest
growing segment in terms of revenue. It is expected to grow at a CAGR of 7.0%
from 2015 to 2022. Stringent government regulations, particularly in North
America and Europe, have led to increasing need for environment friendly and
sustainable compounds.
·
Aerospace was the largest application
segment valued at USD 2.55 billion in 2014. Increasing government expenditure
particularly in the civil aviation sector will propel thermal spray coating
market over the next seven years. Furthermore, rising need for wear and
corrosion resistant products that can withstand high temperatures is expected
to have a positive impact on the industry over the forecast period.
·
North America was the largest regional
consumer of thermal spray coating with revenue valued at over USD 2.10 billion
in 2014. Rapid urbanization as a result of growing population and increasing
disposable income is expected to augment automobile industry in Mexico. This in
turn is expected to augment industry growth over the next seven years.
·
Global market is fragmented owing to
presence of numerous manufacturers, most of which are integrated across various
stages of the value chain. These companies aim to develop and introduce new
technologies for thermal spray coating manufacturing in order to gain higher
market share.
Browse more
reports of this category by Grand View Research: https://www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
Grand View Research has segmented the global thermal
spray coating market on the basis of product, application and region:
Thermal
Spray coating Product Outlook (Revenue, USD Million, 2012 - 2022)
·
Metal
·
Ceramic
·
Intermetallic
·
Polymer
·
Others
Thermal
Spray coating Application Outlook (Revenue, USD Million, 2012 - 2022)
·
Aerospace
·
Industrial Gas Turbines (IGT)
·
Automotive
·
Others
Thermal
Spray coating Regional Outlook (Revenue, USD Million, 2012 - 2022)
·
North America
o
U.S.
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
Japan
o
China
o
India
·
Latin America
o
Brazil
·
MEA
Access press release
by Grand View Research: https://www.grandviewresearch.com/press-release/global-thermal-spray-coating-market
About Grand View
Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information:
http://www.grandviewresearch.com
