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      Thermal Spray Materials Market Size Expected to Be Valued at $10.8 Billion by 2026

      admin by admin
      February 22, 2022
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      (EMAILWIRE.COM, February 22, 2022 ) Thermal Spray Materials Market size is expected to be valued at $10.8 billion by the end of the year 2026 and the thermal spray materials industry is set to grow at a CAGR of 7.4% during the forecast period from 2021-2026. The increase in the adoption of combustion flame, a process for applying coatings in various end-use industries such as aerospace, automobile and marine industry is driving the thermal spray materials market. Thermal spray materials are coating materials that are used for applying coating layers to various products such as electronics, heavy machineries, aircrafts and others. Thermal spray materials are done through spraying technology and/or chemical vapor deposition which will react to produce the desired coating film on the substrate/product. This process is easy and also accurate. Therefore, it is one of the major factors driving the thermal spray materials market.

      COVID-19 impact

      Amid the Covid-19 pandemic, the thermal spray materials market saw a huge setback in terms of production, supply and other aspects such as marketing. The economies across the globe were shutdown, due to the global pandemic, which further affected the thermal spray materials market. The thermal spray materials market saw a drastic decrease in its demand especially from various key-use industries such as electrical & electronics and aerospace, as those industries in itself incurred huge losses during the pandemic of Covid-19. The thermal spray materials market however saw a slight increase in the demand during the end of the year 2020, and is set to improve during the time period of the year 2021.

      Thermal Spray Materials Market Segment Analysis – By Materials

      Ceramics segment held the largest share of 38% in the thermal spray materials market in the year 2020. Ceramic thermal coatings are widely used as coating materials in the automobile industry and aerospace industry. Ceramic coatings help in protecting the exterior of cars and aircrafts from blemishes and damages. Ceramic coating also helps in easy maintenance and quick repair of the coating material. Ceramic coating materials also help in protection and shield against UV rays. For instance, according to the International Organization of Motor Vehicle Manufacturers, the global production of automobile stood at 21,084,417 units during January-March 2021, an increase of 16.9% from 18,036,164 units from January-March 2020. This is one of the major factors driving the demand of ceramic coating materials in the thermal spray materials market.

      Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=502949

      Report Price: $ 4500 (Single User License)

      Thermal Spray Materials Market Segment Analysis – By Process Type

      Chemical (Combustion flame) segment held the largest share of 54% in the thermal spray materials market in the year 2020. Combustion flame is a widely used process in the recent times owing to the many advantages offered by the process. The combustion flame process is fast and quick and helps in saving times as well as doing the coating process efficiently. Combustion flame uses simple equipment, which thus helps in giving permit over many aspects of the products and leads to the creation of high purity products. Spraying technology, one of the widely used equipment/technology in thermal spray materials market also follow combustion flame process. This is majorly driving the combustion flame segment in the thermal spray materials market.

      Thermal Spray Materials Market Segment Analysis – By End-Use Industry

      Automobile industry held the largest share of 37% in the thermal spray materials market in the year 2020. The increase in the use of thermal spray coatings materials for coatings in the automobile industry is highly driving the demand for thermal spray materials market. For instance, International Organization of Motor Vehicle Manufacturers, the global production of all vehicles during the first quarter of the year 2021 in the emerging countries alone stood at 11383857 units, an increase of 39.9% from the production of 8135956 units during the first quarter of the year 2020. This is one of the major factors driving the demand for thermal spray materials market.

      Thermal Spray Materials Market Segment Analysis – By Geography

      North American region held the largest share of 42% in the thermal spray materials market in the year 2020. The increase in the production of aircraft for various needs such as commercial purposes, civil aircrafts and defense aircrafts is driving the aerospace industry in the region. According to Aerospace Industries Association the total sales revenue of the aerospace industry in the year 2019 stood at US$909 billion in the United States. This is one of the biggest factors driving the thermal spray powders market, since it is extensively used in the coatings and other components such as engine blades and other components of the aircrafts. The aerospace industry of the United States is growing stronger due to various reasons like highest export rate of aircrafts, research and development and others which is driving the aerospace industry in the US. Furthermore, according to data from US Government Accountability Office, the defense spending of US army amounted to US$714 billion in the year 2020 and is expected to increase to US$733 billion in the year 2021. This is further driving the demand for thermal spray powders from the aerospace industry.

      Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=502949

      Thermal Spray Materials Market Drivers

      Increasing investment and development in the aerospace industry

      The increase in the investments and development in the aerospace industry is hugely driving the thermal spray materials market. Thermal spray powders are highly used in the aerospace industry owing to the special properties provided by thermal spray materials such as high resistance to abrasion and protection from UV rays is increasing the demand for thermal spray materials market in the aerospace industry. According to Aerospace Industries Association, the global exports of the US aerospace industry stood at US$148 billion in the year 2019, which is one of the biggest factors driving the thermal spray materials market since it is extensively used as coating materials of the aircrafts.

      Rising demand from semiconductors industry

      The increase in demand for coating materials in the semiconductor industry is one of the significant factors driving the demand for thermal spray materials market. The process of combustion flame is prevalent in the electrical and electronics industry for chemical vapor deposition on semiconductors and other electronics products. Therefore, the increase in the growth of the electrical and electronics industry is increasing the demand for combustion flame and spraying technology for depositing coating materials on electronic devices. According to Semiconductor Industry Association, the global sales of semi-conductors increased at a 6.5% to US$439 billion in the year 2020 from the year 2019. This is driving the demand for thermal spray materials market.

      Thermal Spray Materials Market Challenges

      Availability of Hard Trivalent Coating

      Hard Trivalent Coatings are coating materials used on metals such as zinc and aluminium. It is also used on cooper, silver, cadmium and other metals and alloys. Hard Trivalent Coatings only require less energy and process to be applied and can also withstand interruptions, making it a robust coating material. Trivalent coatings consist fewer toxic materials as compared to thermal spray materials and therefore, it is less regulated by government and regulatory bodies, making it easier to be produced and used. Hard trivalent coatings help in reducing hazardous waste and other compliance costs. Therefore, this is one of the major challenges faced by the thermal spray materials market.

      Thermal Spray Materials Market Industry Landscape

      Product launch, expansions, partnerships, collaborations, investments, acquisitions and mergers are some of the key strategies adopted by players in the

      Thermal Spray Materials Market. Major players in the Thermal Spray Materials Market are:

      Castolin Eutectic

      Treibacher Industries AG

      Linde plc

      OC Oerlikon Management AG

      H.C. Starck GmbH

      Höganäs AB

      Praxair Surface Technologies Inc.

      BodyCote

      Oerlikon Metco

      Surface Technology

      F.W. Gartner Thermal Spraying

      Thermal Spray Technologies, Inc.

      BryCoat Inc.

      Flame Spray Sp among others.

      Acquisitions/Technology Launches

      On April 03, 2020 Bodycote acquired Elison Surface Technologies for a sum of US $ 200 million. This acquisition made Bodycote as one of the largest providers of thermal spray and engineered coating surface technology services in the world.

      On July 19, 2019 Oerlikon Metco acquired AMT AG, which helped the company in strengthening technologies and competencies in surface solution technologies while increasing market applications and service accessibility to customers.

      On March 19, 2019 Praxair Surface Technologies got into a partnership with Siemens. This contract included coating of aerospace and industrial gas turbine components such as blades, vanes, casings, and discs by thermal spray processes and other processes.

      Key Takeaways

      North American market held the largest share in the thermal spray materials market owing to the large production of automotive and aircrafts in the region.

      The increase in the demand for coating materials in the electrical and electronics industry, especially in semiconductors is driving the thermal spray materials market.

      Increasing demand from the aerospace industry for chemical vapor deposition for jet engine blades and other hot section components.

      During the Covid-19 pandemic, the thermal spray materials market witnessed various drawbacks leading to the market incurring losses. The situation is however set to improve by the year end of 2021.

      Related Reports:

      A. Thermal Interface Materials Market

      https://www.industryarc.com/Report/16293/thermal-interface-materials-market.html

      B. Thermal Spray Powders Market

      https://www.industryarc.com/Research/Thermal-Spray-Powders-Market-Research-502980

      For more Chemicals and Materials Market reports, please click here

      About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.



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