Global Thermal Spray Market 2017-2021
About Thermal Spray
Thermal spraying is the process of coating melted metallic or non-metallic materials on the surface. Materials are melted into a rod, wire, or powder form. They usually form a thick coating over the applied materials. Flame, arc, plasma, HVOF coating, detonation, cold, and laser sprays are the different types of thermal sprays present in the market.
Technavio’s analysts forecast the global thermal spray market to grow at a CAGR of 8.28% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global thermal spray market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sale of thermal spray products.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Thermal Spray Market 2017-2021
Technavio recognizes the following companies as the key players in the global thermal spray market: Kurt J. Lesker, Linde, Praxair, and Sulzer
Other Prominent Vendors in the market are: A&A Coatings, Accuwright Industries, Ardleigh Minerals, ARTEC, Bodycote, Carpenter Technology, Curtiss-Wright Surface Technologies, Castolin Eutectic, Eurocoating, Flame Spray Coating, Fujimi, H. C. Starck, Oerlikon Metco, Saint-Gobain Coating Solutions, and Turbocoating
Commenting on the report, an analyst from Technavio’s team said: “The global thermal spray market is witnessing an increase in demand from emerging economies such as India, China, and Brazil. The rapid economic development in these countries, especially in APAC countries, will contribute to the market growth because of factors such as an increase in spending on products such as appliances, automobiles, and furniture. Due to such an increase in demand, a number of vendors have strengthened their supply chain networks and set up new production facilities in India, China, and Brazil. Russia is another key market in which the demand for thermal spraying will be high during the forecast period.”
According to the report, thermal spraying is known to have a low negative impact on the environment, provided proper precautions are taken during operation. Due to this, its use is encouraged by governments in developed regions such as North America and Western Europe. For instance, thermal insulating coating, used for buildings and glass materials, reduce energy costs substantially. When the building windows and external tiles are applied with thermal spray coating, the building is UV protected, and the heat is retained inside the building, eliminating any leakage. As a result, the energy bills are cut down significantly, and also aids in the reduction of the harmful impact mass energy has on the environment.
Further, the report states that the global thermal spray market is witnessing intense competition among international, regional, and local vendors. Since the market is highly fragmented, vendors are trying to differentiate their products through price, delivery time, technical expertise, quality, and reliability. Thus, vendors are spending on R&D, distribution systems, and customer service and support to increase their market shares. This has an adverse effect on the overall profit margins of vendors in the market.
Kurt J. Lesker, Linde, Praxair, Sulzer, A&A Coatings, Accuwright Industries, Ardleigh Minerals, ARTEC, Bodycote, Carpenter Technology, Curtiss-Wright Surface Technologies, Castolin Eutectic, Eurocoating, Flame Spray Coating, Fujimi, H. C. Starck, Oerlikon Metco, Saint-Gobain Coating Solutions, Turbocoating.