A new report by XploreMR studies the growth drivers, trends, restraints, and highlights of the global thermal spray coatings market. Presenting exclusive insights into the market from 2016 to 2024, the report projects that the market will witness significant growth during the forecast period. The growth of the market is primarily driven by surging adoption in the industrial gas turbine industry and increasing preference over chrome coatings. Furthermore, the advantages of the product, such as protection against wear and corrosion, low emission of toxic gases, thickness capability, and electrical resistance, are expected to fuel the adoption in the aerospace application segment, which currently channels the majority of sales. Likewise, technological advancements are enabling innovation of affordable, yet high-quality products, thereby complementing the growth of the thermal spray coatings market.
Robust Physical Properties Invigorate Usage in Thermal-based Applications
Thermal spray coatings find significant adoption in a wide range of industries, such as automotive, paints and coatings, aerospace, medical, and packaging, which drive the market on a positive growth trajectory. Furthermore, the thermal spray coatings are anticipated to witness a surge in adoption in gas turbines of ships, locomotives, tanks, helicopters, and motorcycles, which will contribute to substantial revenue growth. Among thermal spray coatings, polymer and metal coatings are extensively used in their powdered form in industrial gas turbine blades, owing to their physical property to resist corrosion when subjected to high temperature. Similarly, thermal sprayed carbide coatings find rampant adoption in landing gear for aircraft owing to their high resistance to wear and tear. Likewise, thermal spray coatings are gradually replacing hard chromium plating since the usage of the latter is discouraged by regulatory bodies. Leveraging the situation, thermal spray coatings are finding significant applications in the automotive industry, where the products are used to coat products such as engines, body, fenders, moldings, and suspension systems. As the automotive industry blooms in the Asia Pacific, the market is set for positive growth through the forecast period. However, the line-of-sight coatings process in thermal spray coatings is likely to hinder market growth since the process does not cover smaller and deeper cavities, thereby increasing the pores.
North America Holds Strong Footholds Over Global Market
North America is expected to reign supremacy over the regional landscape of the thermal spray coatings market, backed by a strong aerospace industry in the U.S. coupled with the emergence of aerospace companies in Mexico. Europe is expected to remain the second most lucrative regional market, owing to increasing applications in the automobile industry and oil extraction. On the other hand, Asia Pacific is expected to expand its market value during the forecast period on the back of the flourishing automotive industry.