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Thermal Spray Coating Market Size
Global Thermal Spray Coatings Market size was worth over $8 billion in 2016, with an anticipated CAGR of 6.5% through the forecast period. The industry expects consumption at over 900 kilo tons by 2024. Enhanced machinery performance along with the reduction of the overall operational costs are the key factors fueling the market growth.
Necessity to improve machinery component durability to avoid high replacement cost in several end-use industries including aerospace and energy & power will propel the thermal spray coating market. Superior properties including high corrosion, wear and heat resistance achieved through these flame spray coatings improves the overall machinery lifespan.
Stringent regulations by REACH, EPA, and OSHA regarding the curtailment of hard chrome plating use due to the increasing health issues are influencing the coating manufacturers to adopt sustainable solutions. Also, non-uniformity in the surface along with the inclusion of hexavalent chromium, which is carcinogenic in nature has led to the replacement of hard chrome plating with thermal spray coatings.
| Report Attributes | Details |
|---|---|
| Base Year: | 2016 |
| Market Size in 2016: | 8 Billion (USD) |
| Forecast Period: | 2017 to 2024 |
| Forecast Period 2017 to 2024 CAGR: | 6.5% |
| 2024 Value Projection: | 13 Billion (USD) |
| Historical Data for: | 2013 to 2016 |
| No. of Pages: | 500 |
| Tables, Charts & Figures: | 473 |
| Segments covered: | Material Metal, Process Combustion, End-Use and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Growth in aerospace and automotive sectors particularly in North America will propel thermal spray coatings market share. As per industry estimates, the U.S. civil aviation spending was over USD 79 billion in 2015 and is set to register growth over 6.5% through 2024. Rising adoption of advanced and highly specialized products & materials among manufacturers to improve equipment productivity will drive market demand.
The top 100 aerospace & defense companies registered over USD 700 billion revenue in 2016; these companies cumulatively gained a profit of USD 65 billion from the previous year. Spending a large amount of money on commercial as well as on the defense aircraft will propel the demand for thermal spray coating market.
The other lucrative industries using thermal spray coatings are automotive and healthcare. Requirements to install sustainable components to gain the long-term profitability are driving the preference for flame spray coatings over hard chrome plating. In the healthcare industry, regulatory compliances are majorly influencing product demand. Need to meet regulatory guidelines pertaining to health impact on the use of any machinery is propelling the thermal spray coatings market growth.
Efficient EMI/RFI shield providing protection against interference particularly for medical equipment will fuel the thermal spray coating market growth. Healthcare industry expansion owing to growing geriatric population and rising disease occurrences will support industry demand. As per Eurostat, elderly population accounted for more than 19% among the total European Union in 2016.
Increasing R&D spending for development in new treatment methods and medical equipment will propel product demand. Increasing need to protect steel duct from sulfuric acid and corrosive gasses across chemical industries is another factor driving industry growth.
Stringent government regulations regarding protection of medical tools and components will positively influence the thermal spray coatings market value. For instance, in 2017, (EU) 2017/745 and (EU) 2017/746 were implemented to ensure a prominent level of health and safety protection for citizens using medical equipment.
Rising penetration of flame spray coatings in the power & energy sector providing longer operational life to gas turbines and power generators will propel the thermal spray coating market sales. In addition, high application scope in solar energy generation, industrial gas turbines, and solid oxide-fuel cells will propel industry demand.
Fluctuating crude metal prices due to changing economic conditions are among the major factors influencing thermal spray coating market price. Increasing concerns to minimize overspray and material wastage may restrain the industry demand. Emergence of substitutes including liquid coatings that hold superior capability to cover inside corners and hard to reach surfaces may further hamper business growth.
Thermal Spray Coating Market Analysis
Metal is estimated to hold over 30% share in 2016. Growing need to protect bridges, large steel structures, offshore oil platforms, and deck from corrosion as well as to provide strong adhesion are key factors driving the metal-based flame spray coatings demand. These materials are mainly used as finishing and engineering coatings in various industries including automotive and healthcare. Finishing coating is further utilized as an anti-corrosion or decorative material, whereas engineering solutions are further utilized as wear-resistant and thermal barrier protection.
Ceramic materials segment in thermal spray coating market is anticipated to exceed USD 5 billion by 2024. Excellent adhesion, hardness, high corrosion resistance & thermal barrier are key properties fueling product scope particularly from diesel engine pistons, automotive valves & cylinders. Early adoption of ceramic products in aerospace engine systems, turbine blades and flame tubes due to high heat resistance has enhanced product penetration.
Benefits, such as low density, high melting point, superior oxidation, high thermal conductivity, and hot corrosion resistance, are driving the intermetallic materials demand in steam generators and coal-fired gas turbines. Polymers are observing a significant attention from automotive, petrochemical, and aerospace & defense industries. These materials are applied to protect the surface from corrosion, humidity, and harsh chemical environments.
Combustion flame is expected to generate demand over 600 kilo tons by 2024. High adoption in repairs of mining and oil & gas industry due to its suitability will drive the thermal spray coating market . Rising demand from reconditioning pumps, worn conveyor screw, and steel blowers will propel the business growth. Factors such as high bond strength and uniform surface finishing will support product application scope over forecast period.
Electric energy process will witness growth over 6.5% in terms of revenue up to 2024. High spraying capacity in terms of larger dimension coverage particularly for structural substrates will drive electric process demand. Increasing adoption of electric based process for protecting piston rings, tube seams, boiler walls, capacitors and large infrastructures will propel the thermal spray coatings market outlook.
The plasma process in thermal spray coating market is projected to witness the highest gains due to its multi-functionality with the various materials, including metals and ceramics. The process is widely applied in jet engines owing to its prevention against high temperature of the combustion gases. Also, the process is gaining attention due to the denser, cleaner, and stronger properties offered by it.
Aerospace & defense sector was worth more than 2.5 billion in 2016. Rising demand for commercial, military and general aviation due to increasing consumer spending on travelling and transportation will drive the thermal spray coating market size. As per analysis, global annual air traffic increased by 4.5% in 2017. It is the foremost industry, which has adopted thermal spray coatings completely in its manufacturing process.
The requirement to run components at the optimum level is driving the market demand. Efficient maintenance quality standards, reliability and durability along with cost-effective properties have enhanced product scope in aerospace & defense applications.
Automotive sector will witness growth over 8% through 2024. Maintenance of high-quality components, durability, and reliability is driving the product demand. Enhancing the low-cost base material life cycle through advanced functional surfaces has become important in the automotive sector. The profit margins are low, and the optimum cost has become a significant factor in the automotive industry, influencing thermal spray coating market growth.
Rising need to have biocompatible and corrosion-resistant implants is driving demand in the healthcare industry. Thermal sprayed hydroxylapatite was the foremost joint treated with an artificial bone material. It is also used in the healthcare industry to prevent RFI/EMI between medical equipment.
North America dominated the industry in terms of revenue and generated $2.5 billion business in 2016. Necessity to attain cost optimization in aviation & defense and energy & power industries are key factors driving regional demand.
Improved aircraft performance at competitive costs while meeting all the regulatory guidelines has positively influenced the thermal spray coatings market. In addition, industry practices to limit hard chrome plating usage will support product penetration over forecast period. Aerospace is one of the lucrative industries in the U.S. The sector contributed around USD 145 billion export sales to the country’s economy.
Asia Pacific is expected to witness growth over 8.5% through 2024. Growth in automotive production along with the increased supply of electronic equipment will drive the regional demand. Cost-effectiveness is one of the major reasons fueling product demand. Increasing consumer need for low weight components and customized designs is another key factor driving thermal spray coatings market.
As the region is the hub of manufacturing and exportation of components and electronics. Thus, the regional manufacturers must meet international guidelines to export goods, which will drive the demand for high-quality and environment-friendly coated products. In 2016, Asia Pacific accounted for 50% of the global vehicle production and was one of the major exporters to the American and European automotive business.
Thermal Spray Coating Market Share
Global thermal spray coating market share is moderately consolidated with presence of few multinational players and large number of regional players. Key industry participants include
- Oerlikon Metco
- H.C. Starck
- Praxair Surface Technologies
- A & A Coating
- Surface Technology
- Bodycote
- Cincinnati
The thermal spray coatings market value chain mainly consists material suppliers, equipment suppliers and service providers. Several companies including Oerlikon Metco and Praxair Surface Technologies are fully integrated operating across the supply chain.
Companies are involved in several strategic partnerships and acquisitions to improve their market share. For instance, Oerlikon Metco acquired the Canada based, Recentis Advanced Materials to strengthen position in coating materials market in 2017. Other notable thermal spray coating industry participants include Plasma-Tec, ASB Industries, General Magnaplate, Thermion and Metallisation.
Industry Background
Thermal/Flame spray coating is widely used to enhance machine/parts life. Different types of metallic, ceramic, and intermetallic material are applied across a wide range of industries including appliances, agriculture, oil & gas, mining, automotive and aerospace. Manufacturers are expected to adopt specialized production process and invest in R&D programmes over the forecast period. Economical-scale and availability of the raw materials are the two major concerns for thermal spray coatings market players. Thus, companies are expected to integrate business operations to gain competitive advantage.
Global thermal spray coatings market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2013 to 2024, for the following segments:
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By Material
- Metal
- Nickel
- Stainless steel
- Aluminum
- Tribological materials
- Molybdenum
- Titanium
- Others (Zinc, copper)
- Polymers
- PTFE
- Polyethylene
- Polyester
- Other polyolefins
- Ceramic
- Zirconia
- Titania
- Alumina
- Chromia
- Yttria
- Others (Lanthanum oxide, silicon dioxide)
- Intermetallic
- Ti-Al
- Ni-Ti
- Ni-Al
- Fe-Al
- Others (Cu-Al-Ni, Ni-Cr)
- Others (Alloys, carbides)
By Technique
- Combustion flame
- Low velocity
- High velocity
- HVOF
- HVAF
- HVLP
- Detonation
- Electric energy
- Arc spray
- Plasma spray
- Cold spray
By End-Use Industry
- Aerospace & defence
- Turbine blades
- Flame tubes
- HPT outer stationery seal
- Automotive
- Turbochargers
- Oxygen sensors
- Alternator covers
- Healthcare
- Medical products packaging
- Instrument coating
- Energy & power
- Industrial gas, steam & water turbines
- Pumps & shafts
- Electronics
- Semiconductor capital equipment
- Dielectric coatings
- Agricultural machinery
- Threshing equipment
- Turbo compressors
- Others (Paper, marine, textile & chemical)
The above information has been provided on a regional and country basis for the following:
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Poland
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- Brazil
- Argentina
- Mexico
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
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