THERMAL SPRAY MARKET 2018 Industry Survey, Growth, Competitive Landscape and Forecasts to 2023
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THERMAL SPRAY MARKET 2018 THERMAL SPRAY Market 2018: Industry Survey, Growth, Competitive Landscape and Forecasts to 2023 Thermal spraying is an industrial process of coating that involves the formation of substrates in the semi-molten and molten state. Thermal spraying provides thick coatings up to 20 mm over a large area and deposition rate than other coatings. These sprays are used for a protective or decorative coating in many substrates including metals, ceramics, polymers, intermetallic, carbides, abradable, and others. The properties such as enhanced engineering performance increased shelf life, and low coating cost makes them a suitable substitute in comparison with other coatings. The growing demand from the end-user industries such as aerospace, automobiles, oil & gas, steel, medical and printing among others is substantially driving the growth of the market. However, low adoption rate coupled with the growing threat of substitution are some of the major restraints in the growth of the market. Among the various product segments in thermal spray market, the ceramics is expected to be the leading segment of the market and is anticipated to show a considerable CAGR during the forecast years. The growing demand for efficient ceramic coatings in healthcare, defense, aerospace, and oil & gas sector among others is the major factor fuelling the market growth. Metals are the second largest product segment and are anticipated to account for over 20% of market share during the assessed years. The growing application of metals in various sectors has increased the demand for coatings, in turn, contributing to the growth of the segment.
Aerospace is the largest application segment accounted for over 30% of market share in 2016. Aerospace industry requires efficient wear and thermal resistive coatings in numerous applications. The growing development of the aerospace sector, especially in the developing economies, is expected to boost the market of thermal spray during the forecast period.
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THERMAL SPRAY MARKET 2018
Targeted Audience • Thermal spray market manufacturers • Traders and Distributors of thermal spray market • Production process industries • Potential investors • Raw material suppliers • Nationalized laboratory Enquiry of the Report: https://www.marketresearchfuture.com/enquiry/5561
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THERMAL SPRAY MARKET 2018 Regional Analysis The thermal spray market is segmented into five regions: Latin America, the Middle East & Africa, Asia Pacific, North America, and Europe. Among these, Asia is expected to be the fastest growing region with an encouraging CAGR. Growing population and the increasing per capita disposable income in the developing nations are primarily driving the growth of the thermal spray market. Moreover, the propelling aerospace and the automobile industry in countries such as India and China, is increasing the demand for thermal spray. Moreover, the growing demand from the oil and gas industry mainly in China, India is another factor positively affecting the market growth. The growing population has augmented the need for energy in the region which has resulted in a surge in oil and gas activities, thereby increasing the demand for a thermal spray for the use in bearings, pump shafts, hydraulic plungers and other applications.
North America is the largest market and is expected to retain its dominance during the forecast years. The developed industries such as aerospace, automobile, and pharmaceuticals among other are positively affecting the market growth. The European region is a lucrative market and is mainly driven by a well-developed automobile and aerospace industry. Moreover, the growing oil and gas related activities mainly in Russia is expected to surge the market growth, Europe is expected to show a CAGR of over 5.5% during the forecast years.
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THERMAL SPRAY MARKET 2018 Application & Major Players in this Research: THERMAL SPRAY Market Prominent Players:
LG Chem
KUMHO PETROCHEMICA Formosa Chemicals & Fibre Corp. TORAY INDUSTRIES INC Mitsui Chemicals, Inc. Ravago Americas
SABIC BASF SE
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