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(IT-NEWSWIRE.COM, February 16, 2019 ) The report "Thermal Spray Coatings Market by Material (Ceramic, Metals & Alloys ), Process (Combustion Flame, Electrical Energy), End-Use Industry (Aerospace, Automotive, Healthcare, Energy & Power, Electronics), and Region - Global Forecast to 2021", published by MarketsandMarkets, the market is projected to reach USD 11.44 Billion by 2021, at a CAGR of 6.5% from 2016 to 2021.
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The growing use of thermal spray coatings to protect surfaces of various products and engineered components is fueling the growth of thermal spray coatings market. Moreover, the increasing demand for thermal spray coatings from various end-use industries, such as healthcare, aerospace, and energy & power, among others is also leading towards the growth of the thermal spray coatings market.
The aerospace end-use industry segment is projected to lead the thermal spray coatings market from 2016 to 2021.
The aerospace end-use industry segment accounted for the largest share of the thermal spray coatings in 2016. It was followed by the automotive, healthcare, and energy & power end-use industry segments. The demand for thermal spray coatings from the aerospace industry is continuously increasing to ensure the long durability of critical components of aircraft. Moreover, the increase in the number of aircraft due to rise in air passenger traffic across the globe is expected to contribute towards the growth of the aerospace end-use industry segment of the thermal spray coatings market during the forecast period.
The healthcare end-use industry segment of the thermal spray coatings market is projected to grow at the highest CAGR from 2016 to 2021.
Thermal spray coatings are increasingly used in the healthcare industry for coating orthopedic implants. One of the critical applications of thermal spray coatings is in biomedical implants. Thermal spray coatings ensure proper hydroxyapatite (HA) coating of implants. These coatings are also used in several critical biomedical applications. The healthcare end-use industry segment of thermal spray coatings market is projected to grow at the highest CAGR during the forecast period. This growth is attributed mainly to the significant use of thermal spray coatings for orthopedic implants, medical instruments, and apparatuses, among others.
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Browse in-depth TOC on "Thermal Spray Coatings Market"
72 - Market Data Tables
47 - Figures
153 - Pages
The Asia-Pacific thermal spray coatings market is projected to grow at the highest CAGR during the forecast period.
The Asia-Pacific thermal spray coatings market is projected to grow at the highest CAGR between 2016 and 2021. The growth of the Asia-Pacific thermal spray coatings market can be attributed to increasing demand for thermal spray coatings from various end-use industries, such as aerospace, automotive, electronics, and healthcare, among others. The thermal spray coatings markets in China and Japan are expected to grow significantly during the forecast period.
The growth of the Thermal Spray Coatings Markets in these two countries is due to increased consumption of electronic components in China and Japan. Growing demand for thermal spray coatings from the automotive industry is another major reason for the growth of thermal spray coatings markets in these countries.
A & A Coatings (U.S.), Flame Spray Coating Company (U.S.), General Magnaplate Corporation (U.S.), Praxair Surface Technologies, Inc. (U.S.), Oerlikon Metco (Switzerland), Plasma-Tec, Inc. (U.S.), Surface Technology (U.K.), H.C. Starck GmbH (Germany), and ASB Industries, Inc. (U.S.), among others are the key players operating in the thermal spray coatings market.
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