New York, Aug. 16, 2018 (GLOBE NEWSWIRE) -- Persistence Market Research delivers key insights on the thermal spray coatings market in its latest report titled “Global Market Study on Thermal Spray Coatings: Industry Analysis and Forecast, 2016–2024”. Global sales of thermal spray coatings are estimated to be valued at US$ 7.6 Bn by 2016 end, witnessing a Y-o-Y growth of 5.6% over 2015. North America and Europe are estimated to collectively account for a market value share of over 50% in the global thermal spray coatings market by 2016 end and are anticipated to remain dominant throughout the forecast period.
The aerospace and power generation industries are actively focusing on the development of advanced surface coating processes. The presence of hexavalent chromium and environmental issues related to it has caused various end-use industries to look for alternatives. As a result of this, thermal spray coatings have gained traction as a replacement for hard chromium plating in the aerospace industry. Revenue generated from sales of thermal spray coatings is expected to increase at a CAGR of 5.9% over the forecast period. Thermal spray coatings are used in medical implants as well. Increasing use of titanium and hydroxyapatite coatings in biomedical implants using thermal spray technology, is expected to drive the growth of the thermal spray coatings market over the forecast period. However, thermal spray coating is a line-of-sight coating process, i.e. it covers only the part which is in a line of the coating system. Moreover, robotic functions and frequent adjustments in case of complex geometries lead to high cost of thermal spray coatings, which is expected to inhibit the growth of the market over the forecast period.
Request For Report Sample: https://www.persistencemarketresearch.com/samples/11173
By material type, ceramics segment is expected to continue to dominate the market in terms of value throughout the forecast period. This segment is also expected to witness high growth over the forecast period. Metals, alloys, and carbides are estimated to collectively account for a market value share of over 50% by the end of 2016. On the basis of process type, cold spray segment is expected to expand at double-digit CAGR in terms of value over the forecast period. This is mainly attributed to it being suitable for depositing a wide range materials on various types of substrate materials, especially those that are temperature sensitive.
Thermal Spray Coatings Market Segmentation By Material Type – Metals, Alloys, Carbides, Ceramics, Intermetallics, Others; By Process Type - Conventional flame spray, Plasma spray, High-Velocity Oxy-fuel (HVOF), Cold spray; By Application – Aerospace, Industrial Gas Turbines, Automotive, Medical, Others: https://www.persistencemarketresearch.com/market-research/thermal-spray-coatings-market.asp
On the basis of application, aerospace segment is expected to account for a market value share of 37.4%, valued at US$ 4.7 Bn by 2024 end. Industrial gas turbines segment is expected to expand at the highest CAGR in terms of value over the forecast period. Increasing energy requirements across the globe are expected to increase demand for high-performance engines and turbines. This, in turn, is projected to fuel demand for thermal spray coatings, as this process provides excellent coatings and exhibits superior resistance to wearing and corrosion. Hence, Industrial gas turbines segment is anticipated to be the fastest growing segment during the forecast period.
Sales of thermal spray coatings in North America is estimated to account for highest share by the end of 2016. Sales in Asia Pacific is expected to increase at the highest CAGR over the forecast period.
Download and View Report TOC, Figures and Tables @ https://www.persistencemarketresearch.com/methodology/11173
Key players in the global thermal spray coatings market include Sulzer Ltd., Oerlikon Group, Praxiar Ltd., Bodycote plc., Abakan Inc., Curtis-Wright Corporation, Metallisation Ltd., Thermal Spray Technologies Inc., and ASB Industries, Inc. The thermal spray coatings market has witnessed various merger and acquisition activities, leading to industry consolidation over the last few years. Most of these activities were undertaken by market leaders in North America and Europe markets.
The long-term outlook for the global thermal spray coatings market remains positive, with market value expected to increase at a CAGR of 5.9% during the forecast period. Cold spray and High-Velocity Oxy-fuel (HVOF) segments are expected to expand at highest CAGRs over the forecast period.
Get full Report Now: https://www.persistencemarketresearch.com/checkout/11173
More from PMR’s Chemicals and Nanomaterial Intelligence:
Silicon Anode Battery Market Segmented by (By Applications - Consumer Electronics (3G/4G Cell phones, Laptops, Tablets, MP4 Players, Digital Cameras, Other Microelectronic Devices) Automotive (Plug-in Hybrid Electric Vehicles, Hybrid Electric Vehicles, Electric Vehicles, Electric Bicycles), Industrial, Grid and Renewable Energy) - Global Industry Analysis, Size,Share, Growth, Trends and Forecast 2016-2024: https://www.persistencemarketresearch.com/market-research/silicon-anode-battery-market.asp
Industrial Gases Market Segmented by (By Gas Type - Oxygen, Acetylene, Nitrogen, Argon, Helium, Carbon Dioxide, Hydrogen; By Application Type - Metal Manufacturing and Fabrication, Healthcare, Automotive & Aerospace, Electronics, Energy, Oil & Gas, Food & Beverages, Pulp & Paper, Chemicals, Pharmaceutical & Biotechnology, Other industries): https://www.persistencemarketresearch.com/market-research/industrial-gases-market.asp
Flat Glass Market Segmentation By Type (Annealed Glass, Toughened Glass, Laminated Glass, Coated Glass, Mirrored Glass, Patterned Glass, Extra Clear Glass ); By Manufacturing Process ( Float Glass, Sheet Glass, Rolled Glass ); By Application ( Building & Construction, Automotive, Electronics, Furniture, Solar Applications, Others ) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2025: https://www.persistencemarketresearch.com/market-research/flat-glass-market.asp
Persistence Market Research Overview
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
Contact
Ashwani Bhagat
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA - Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com
PMR Latest News: https://www.persistencemarketresearch.com/news