DUBLIN--(BUSINESS WIRE )--The "Thermal Spray Coating Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global thermal spray coating market reached a value of US$ 8.4 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 12.6 Billion by 2027, exhibiting a CAGR of 6.99% during 2021-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Thermal spray coating refers to the process of coating surfaces by melting powder substrates into droplets and spraying them at high velocities. Some of the commonly used coatings include zirconium oxide, aluminum bronze, and cobalt-molybdenum. They are sprayed on materials, such as stainless steel, nickel alloys, copper, bronze, molybdenum, ceramics and tungsten carbides.
The coatings form stable bonds with the surfaces and prevent them from degradation, wear and tear, abrasion, friction and corrosion. They also provide electrical conductivity, lubricity, chemical resistances and desirable surface properties. As a result, thermal spray coating finds extensive applications across various industries, such as aerospace, automotive, healthcare, energy and food and beverage.
Significant growth in the chemical industry, along with the increasing demand for high-performance industrial-grade coatings, is one of the key factors creating a positive outlook for the market. These coatings are widely used on the surfaces of pumps, valves, machinery, turbine blades and other industrial equipment to enhance their operational efficiency, quality and reliability. In the automotive industry, the coatings are used on cylinder rings, piston rings, crankshafts, brake discs, exhaust pipes and shifters for high-performance and improved fuel efficiency.
Moreover, shifting consumer preference from chrome plating towards thermal spray coatings is providing a thrust to the market growth. With rising environmental consciousness, consumers are widely utilizing thermal spray coatings that have a higher fatigue resistance and generate minimal residue upon processing.
Additionally, the development of flame-based and reactive spray deposition technologies for low-temperature solid oxide fuel cell, plasma and laser deposition coatings, are contributing to the growth of the market. Other factors, including the rising expenditure capacities of the consumers, along with extensive research and development (R&D) activities, are anticipated to drive the market toward growth.
Key Questions Answered in This Report:
5 Global Thermal Spray Coating Market
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900