Thermal Spray Coating Market to reach US$11.687 billion by 2021

NOIDA, India - Jan. 16, 2017 - PRLog -- Knowledge Sourcing Intelligence announces the publication of a new report on "Thermal Spray Coating Market - Forecasts from 2016 to 2021 " to their offering. The report has segmented the Thermal Spray Coating market by material (metal, alloy, carbides, ceramic, and others), process (conventional flame spray, cold spray, plasma spray, and HVOF), industry vertical (aerospace, energy and power, automotive, healthcare, and others),and geography. The global Thermal Spray Coating market is estimated to grow from US$8.276 billion in 2015 to US$11.687 billion by 2021, at a CAGR of 7.15% over the forecast period.

Thermal Spray Coating market is majorly driven by increasing demand for superior surface properties of the technology in a wide range of end-use industries. Growing replacement of hard chrome plating technology with the cost-effective thermal spray technology is the major driver of global thermal spray coating market. Booming automotive industry is augmenting the demand for thermal spray coatings to protect various electrical components and metal parts from corrosion, abrasion, and high-temperature levels. Growing aging population and rising number of road accidents worldwide is further fuelling the demand for thermal spray coatings in the healthcare sector for implants and orthopedics. An increasing number of offshore and onshore wind turbine towers and installation of large solar panels will also bolster the growth of thermal spray coating market in the forthcoming years.

Cold Spray anticipated being the most widely used thermal spray coating process in various applications

The cold spray process is projected to witness the double-digit growth rate over the forecast period owing to its ability to deposit a wide range of materials on the substrate, especially temperature-sensitive materials.

APAC to witness the fastest regional market growth between 2015 and 2021

APAC region is projected to witness the fastest regional market growth at the highest CAGR of 9.80% during the forecast period. This growth is attributed to factors such as rising middle-class population, rapid urbanization, and industrialization leading to the establishment of various automotive manufacturing units in the region. Moreover, increasing cases of implantology in the region will further propel the demand for thermal spray coatings for various biomedical instruments within the healthcare sector during the forecast period.

The key players of Global Thermal Spray Coating market covered in this report include Thermal Spray Technologies, ASB Industries, Sulzer, Oerlikon Group, Curtis-Wright Corporation, Metallisation, Praxair, Bodycote, and Abakan.

This report contains the market analysis on the current trends in the Thermal Spray Coating Market and the opportunities for the vendors over the next six years. It provides deep insights into the drivers and restraints of the industry. Thermal Spray Coating Market report also consists of in-depth regional analysis. A lot of statistically relevant tools and detailed industry analysis models such as Porter's 5 forces have been used to forecast the market trends and forecasts up to the year 2021.

The report also talks about the strategies adopted by the industry leaders to gain an advantage over competitors and the recent deals that they have gone into to position themselves better in this market.

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