Application for Aerospace Industry to Hold Nearly 33% of the Thermal Spray Coatings Market; Demand to Grow by 6.5% CAGR Through 2030 – Fact.MR -…

United States, Rockville, MD, April 18, 2022 (GLOBE NEWSWIRE) -- The surge in manufacturing of paints, automotive, aerospace, medical, and packaging is set to boost the demand for thermal spray coatings. Features such as anti-corrosion coupled with enhanced coating consistency are working in favor of thermal spray coatings. The global thermal spray coatings market will grow at an impressive 6.5% CAGR during the forecast period (2019-2029). Increasing penetration of coating applications in niche end-use industries such as gas turbines, locomotives, and modern helicopters will continue to bolster demand for thermal spray coatings. Rampant space exploration by companies such as SpaceX is encouraging the application of thermal spray carbide coating in advanced landing gears.

Browse in-depth TOC on "Sales of Thermal Spray Coatings"

74 Tables and

256 Figures

170 Pages

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Key Takeaways of Thermal Spray Market Study

Industrial Gas Turbines to Grow 4.2X through Forecast PeriodUptake in aerospace projects in developing regions is driving demand for thermal spray coatings from the application segment. Aerospace is poised to hold a majority share of over of the total market value.

The segment exhibits a healthy growth trajectory through 2029. Industrial gas turbines account for the second largest market share with of the total market value.

Manufacturing trends such as higher firing temperatures and increased levels of oxidation and corrosion resistance in hard environments are favorable developments for thermal spray coatings.

Industrial gas turbine segment exhibits highest growth among various applications such as automotive, medical, steel, pulp, and paper.

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Global Thermal Spray Coatings Market: In-Depth Assessment on Key SegmentsThe global thermal spray coatings market is segmented on the basis of product, technology, application and region.

Product

Technology

Application

Region

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Country-specific assessment on demand for thermal spray coatings has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous thermal spray coatings manufacturers, experts, and suppliers.

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The Prominent manufacturers covered:Praxair Surface Technologies, Inc., Hgans AB, H.C. Starck Inc., Castolin Eutectic, Wall Colmonoy Corporation, Powder Alloy Corporation, Saint-Gobain S.A., Carpenter Technology Corporation

South Asia & Oceania to Remain Key Revenue PocketsNorth America and Europe collectively account for a lions share of more than 61% of the total market value. The US, Canada, and the UK are catapulting the demand for advanced coating of equipment used in aerospace, industrial gas turbines, and oil & gas applications.

South Asia & Oceania offers high-growth opportunities on the back of stupendous 9.5% CAGR during the forecast period.

Countries in the region such as Indonesia are investing in development of modern aircrafts and aerospace inventories which employ thermal spray coating.

Increasing penetration of thermal spray coatings in medical, steel, pulp, and paper also stimulates the demand for the product in developing countries.

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Application for Aerospace Industry to Hold Nearly 33% of the Thermal Spray Coatings Market; Demand to Grow by 6.5% CAGR Through 2030 - Fact.MR -...