Thermal spray coating industry generated $8.0 billion in 2019, and is projected to reach $12.7 billion by 2027, witnessing a CAGR of 5.9% from 2020 to 2027
OREGON, PORTLAND, UNITED STATES, August 13, 2022 /EINPresswire.com/ — According to the report published by Allied Market Research, the global thermal spray coating industry generated $8.0 billion in 2019, and is projected to reach $12.7 billion by 2027, witnessing a CAGR of 5.9% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, key investment pockets, competitive scenario, value chain, and regional scenario.
Rise in demand for automobiles, increase in aerospace application, and surge in usage of medical devices drive the growth of the global thermal spray coating market. However, issues regarding thermal spray process reliability and consistency and high energy costs for manufacturing technical ceramics hinder the market growth. On the other hand, advancement in filler plasma spray coating practices present new opportunities in the coming years.
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Leading players of the global thermal spray coating market analyzed in the report include M, A&A Thermal Spray Coatings, Inc., APS Materials, Inc., CoorsTek, Inc., Dupont De Nemours, Inc., Integrated Global Services, Inc., KCC Corporation (KCC), Linde Plc and Morgan Advanced Materials plc.
• The covid-19 outbreak negatively impacted the thermal spray coatings industry. The prolonged lockdowns have impacted the manufacturing activities and led to supply chain disruptions.
• The demand from the end-using industries including construction, automotive, and industrial sectors has declined as well. In addition, reduced labor, due to social distancing norms, amid the COVID-19 pandemic has further impacted the market.
• Nevertheless, the regulations are getting eased off and the industries are getting revitalized. With this, the thermal spray coating market is expected to recoup soon.
The report offers detailed segmentation of the global thermal spray coating market based on material, process, end-use industry and region.
Based on material, the metal & alloys and ceramics segment held the largest share in 2019, accounting for nearly half of the global thermal spray coatings market. Furthermore, the metal & alloys segment is also expected to witness the highest CAGR of 6.3% throughout the forecast period.
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Based on process, the flame spraying segment dominated the market in 2019, contributing nearly three-fifths of the global thermal spray coatings market. The segment is expected to lead the trail throughout the forecast period. On the other hand, the plasma spraying segment is projected to portray the highest CAGR of 11.2% during the study period.
The global thermal spray coatings market is studied across Asia-Pacific, Europe, ALMEA, and North America. The Asia-Pacific region held the largest share in 2019, contributing to more than half of the market. Moreover, the region is also expected to register the highest CAGR of 6.3% during the forecast period.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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