Asia-Pacific Thermal Spray Market - Segmented by Type, End-User Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
Asia-Pacific Thermal Spray Market is expected to expand at a projected CAGR of 8.25% during the forecast period, 2018 to 2023. The demand in Asia-Pacific is estimated to lead the market owing to its rapid growth from the automotive sector.
Thermal spray is a group of industrial processes, which generally include the propelling of micrometer-size particles of molten or semi-molten materials to create a protective or decorative coating on the surface of the desired substrate. The thermal spray coating provides various advantages to the end-users, such as lower coating cost, improved engineering performance and increased component life.
Growing Thermal Spray Applications in Automotive Sector
The increasing use of thermal spray coating in the automotive industry sector is expected to drive the thermal spray market during the forecast period. In recent years, governments across the world are concentrating on minimizing carbon dioxide, particulate matter and nitrogen oxide emissions, and enhancing fuel economy (as per Corporate Average Fuel Economy standards) of the vehicles. As a result, they are consistently putting pressure on engine and automobile manufacturers to develop and utilize technologies, which aid in reducing emissions and improve the fuel economy of vehicles. Consequently, engine manufacturers are focusing on thermal spray coatings for cylinder bores and other key areas within the engine.
Thermal Spray Techniques to Dominate over Traditional Coating Processes
Thermal spray techniques, owing to their superior deposition rate, in comparison to other traditional coating processes, are an integral part of various major industrial sectors. The growing use of thermal spray processes in oil & gas sector, along with the advancements in spraying technology (cold spray process) will offer numerous opportunities in the growth of the global thermal spray market. In this process, compressed gas jets with very high velocities are used to accelerate the powdered coating materials in the spray gun. The coating particles are accelerated to velocities between 400-1200 m/sec. Dense and oxide-free coatings can be obtained by this process, due to the low particle temperatures and high particle velocities.
Japan to lead the Market
Thermal Spray Materials Market is dominated by Japan, followed by China. The thermal spray equipment market in Japan is driven primarily with the increased use of thermal spray techniques in the aerospace sector in Japan, which has grown significantly in the last few years with advancements in technology and R&D, supported by the government.
Notable Developments in the Market:
February 2018: PG Technologies, Pte Ltd, a Praxair Surface Technologies and GE Aviation joint venture, announced that it intends to add additional coating capacity in Singapore to meet the aviation industry’s growing demand
October 2017: Oerlikon Metco, a leading materials and Surface solutions provider, acquired assets, technologies and key people from Recentis Advanced Materials Inc., to strengthen its position in the coating materials market
Major Players: Flame Spray Technologies Pte Ltd., H.C. Starck, Oerlikon Metco, Praxair Surface Technologies, Treibacher Industrie AG, and Fisher Barton Group, among others.
Reasons to Purchase this Report
To understand the impact of end-user applications on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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