Thermal Spray Coating Market Trends, Forecast 2022-28
The global thermal spray coating market size was valued at USD 12.62 billion in 2021 and is poised to grow at a significant CAGR of 7.1% during the forecast period 2022-28. Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on “Global Thermal Spray Coating Market: By Material (Metals & Alloys, Ceramics and Others), By Process (Combustion Flame and Electrical), By End User (Automotive, Healthcare, Aerospace, Energy & Power, Electronics, Agricultural Machinery and Others) Global/Region/Country Forecast to 2028.
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Technological Developments fuel the Global Thermal Spray Coating Market:
Complete outlook is provided on the global thermal spray coating through this global thermal spray coating market report around the globe with complete focus on the major regions such as Asia Pacific, Latin America, North America, Europe, Middle East and Africa. This market report also does complete study about global thermal spray coating market fuelling factors elaborately to spot out the upcoming opportunities, current drivers and trends and possible challenges to the key stakeholders working in the marketplace. Moreover, global market report also consists of regulatory scenario; demographics and competition analysis with vividly illustrated the competition dashboard for evaluating the market competition.
Major factors impelling the growth of market are the technological developments and the growing demand from different end-user industries including automotive and healthcare. But, the factors such as strict rules imposed for the use of such coatings and shortage of technical skills are the factors hampering the growth of market. Thermal sprayed series production parts had already found their way into engine design in the sixties. By coating synchronizer rings and piston, their service life could be extended significantly in comparison to uncoated parts. Cycle life will increase by using thermal sprayed coatings on major components. The automotive industry is rapidly growing and this product is used to coat different parts such as suspension systems, engines, body, fenders, and moldings. Growing automotive production is anticipated to impel the demand for this product in this segment. The competition in the automotive industry is very high and it is very significant to produce it at low price while maintaining a high level of reliability, durability and quality.
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Asia Pacific accounted for considerable share in the Thermal Spray Coating Market:
Asia Pacific witnessed the major revenue share in the global thermal spray coating market with considerable CAGR rate of XX%. This region serves as one of the major markets for thermal spray coating production. Thriving automotive and aerospace industries especially in rising economies such as India and China has influenced the growth of market. Moreover, increase in disposable incomes of the people and growing population are the major factors fuelling the growth of market in the region.
Competitive Analysis - Global Thermal Spray Coating Market:
Major players working in the global thermal spray coating market are Praxair Surface Technologies, Inc., Oerlikon Metco, Bodycote, Surface Technology and C. Starck GmbH. These players follow a few key strategies.
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