Thermal Spray Market Analysis By Industry Growth, Size, Share, Demand, Trends and Research Report Forecast 2022-2031

Japan, Japan, Thu, 10 Mar 2022 06:26:29 / Comserve Inc. / -- Thermal Spray Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast

The thermal spray market is expected to register a CAGR of more than 6% during the forecast period. One of the major drivers of the thermal spray market identified in the report is the rising demand from the aerospace and medical devices industries, increasing usage of thermal spray ceramic coatings, and replacement of hard chrome coatings by thermal spray coatings. However, with the development and emergence of hard trivalent chrome coatings in recent years, the overall demand for the thermal spray is expected to be hindered.

- The aerospace end-use industry dominated the market, and it is expected to grow at a significant rate during the forecast period, owing to the increasing investment in the global aerospace industry.
- Recently, several new methods have been developed to recycle thermal spray processing materials. This is likely to act as an opportunity for the market, in the future.
- North America dominated the thermal spray market across the world, owing to the high demand from the various end-user industries.

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Key Market Trends

The Aerospace End-user Industry is Expected to Witness the Highest Market Share

In the aerospace sector, thermal spray coatings are extensively used as protective coatings to protect aircraft components and repair the old ones. They are used in the protection of engine turbine blades and actuation systems to provide high thermal resistance and longevity.

Thermal sprays are largely employed for several purposes in jet engine components, such as crankshafts, piston rings, cylinders, valves, and so on. In addition to these, they are also applied in the coating of landing gear (bearings and axles inside the landing gear) to withstand the forces during landing and take-off.

A variety of degradation problems exist in aircraft engines, due to metal to metal wear, hot corrosion, fretting, particle erosion, and many more. This degradation is accelerated when high-temperature is involved. Thermal spray coatings impart the required surface conditions that are required to increase the service life of the engine components.

North American Region is Expected to Dominate the Market

- The North American region dominated the market share. The United States is the second-largest producer of automotive in the world.
- The US aerospace industry is also thriving, owing to the strong exports of aerospace components to countries, such as France, China, and Germany, along with robust consumer spending in the United States.
- The manufacturing industry of Canada is also expected to thrive during the forecast period, owing to the increasing business investment, government expenditure, and consumer spending.
- The aerospace industry of Canada is also witnessing strong growth. The country is the third-largest in terms of civil aircraft production, along with being second in business aircraft production and third in helicopter production, around the world.
- Owing to the rise of these end-user industries in the United States and Canada, North America is projected to dominate the market during the forecast period.

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Competitive Landscape

The global thermal spray market is very fragmented, with the top 4 players accounting for not more than 25% of the total market share. The major players present in the market include Oerlikon​, Linde (Praxair Technology Inc.), Chromalloy Gas Turbine LLC​, Hoganas AB, Kennametal Inc., HC Starck GmbH, Bodycote PLC, and the Fisher Barton Group, among others.

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Rising Use of Thermal Spray Coatings in the Aerospace Industry
4.1.2 Increasing Usage of Thermal Spray Coatings in Medical Devices
4.1.3 Rising Popularity of Thermal Spray Ceramic Coatings
4.1.4 Replacement of Hard Chrome Coating
4.2 Restraints
4.2.1 Emergence of Hard Trivalent Chrome Coatings
4.2.2 Issues Regarding Process Reliability and Consistency
4.2.3 Decreasing Automotive Production
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5 MARKET SEGMENTATION

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